Tax

  • June 15, 2017

    No Soft Landing For Maker Of My Pillow In Tax Appeal

    An Illinois appeals court on Thursday affirmed the judgment of a lower court that found upscale pillow manufacturer My Pillow Inc. had failed to collect taxes on sales made to Illinois customers via internet and phone, but asked the trial court to reduce the amount in attorneys' fees awarded to the whistleblower.

  • June 15, 2017

    Texas Gov. Kills Austin Low-Income Reinvestment Bills

    Texas Gov. Greg Abbott has nixed two bills that would have promoted reinvestment in low-income housing in the city of Austin — part of a slate of 50 bills the Republican governor vetoed on Thursday.

  • June 15, 2017

    NY Art Collector Falls Short In $11M Easement Fight With IRS

    A U.S. Tax Court judge sided with the IRS on Thursday in nixing a prominent New York art collector and real estate investor's claim to more than $11 million in deductions from a noncash charitable contribution covering a conservation easement for his historic warehouse in Manhattan.

  • June 15, 2017

    Pa. High Court Likely To Have Say In Philly Soda Tax Fight

    A panel of appellate judges may have upheld Philadelphia’s controversial new tax on sweetened beverages Wednesday, but experts say the fight over the levy is unlikely to end without the Pennsylvania Supreme Court taking up the case to weigh in on the powers of local government in the state.

  • June 15, 2017

    6th Circ. Says Ky. Hospitals Can’t Recoup Full Indigent Care

    A Sixth Circuit panel Wednesday affirmed a lower court decision that eight Kentucky hospitals are not entitled to a larger tax reimbursement for the services they provide to uninsured patients living under the poverty line.

  • June 15, 2017

    Ex-Swiss Banker Latest To Fall In FIFA Corruption Crackdown

    A former banker for Swiss bank Julius Baer and Credit Suisse Group on Thursday admitted in New York federal court to taking part in a money laundering scheme by facilitating bribes to the late president of the Argentinian soccer federation and others, the latest guilty plea in the sprawling FIFA corruption dragnet.

  • June 15, 2017

    Fla. High Court Says City-Owned Marinas Are Tax-Exempt

    The Florida Supreme Court ruled Thursday that two marinas operated by the city of Fort Pierce are entitled to property tax exemptions because they fall within the scope of traditional municipal functions that have generally been exempt from taxes.

  • June 15, 2017

    House Passes Tax Credit Fix For Veterans Under AHCA

    The U.S. House passed a bill to “fix” problems in the version it passed of the American Health Care Act — the bill meant to repeal and replace the Affordable Care Act — adding health care tax credits for veterans who use private services.

  • June 15, 2017

    Mo. Appeals Court Revives Gas Co.’s $1M Tax Challenge

    A Missouri Court of Appeals panel has revived a natural gas distribution company’s challenge to a $1 million property tax bill, ruling Tuesday that a local court incorrectly found the company needed to exhaust its administrative remedies before suing and that the business undermined its case by paying the levy under protest.

  • June 15, 2017

    Trader Challenges IRS Repatriation Rules In $377M Tax Row

    An affiliate of commodities trader Susquehanna International Group LLP has asked the U.S. Tax Court to nix 1960s-era IRS repatriation rules meant to close foreign tax loopholes in its $377 million fight with the agency stemming from a mega-loan from Bank of America brokerage Merrill Lynch.

  • June 15, 2017

    House OKs COBRA Tax Credits, Dependent On AHCA Passage

    The U.S. House of Representatives voted Thursday to approve a bill, dependent on enactment of Republicans’ Obamacare alternative, that would extend that measure’s tax credits to those holding on to their employer-sponsored health insurance after termination via COBRA continuation coverage.

  • June 15, 2017

    Creditor, Retiree Committees Appointed In Puerto Rico Case

    The U.S. bankruptcy watchdog on Thursday appointed two committees to represent retirees and unsecured creditors in Puerto Rico’s ongoing restructuring case, while declining to create a committee for unsecured creditors of the Puerto Rico Sales Tax Financing Corp.

  • June 14, 2017

    Justice Ginsburg On Oral Argument And ‘Imperious’ Attorneys

    Justice Ruth Bader Ginsburg discusses the value of oral arguments, advice for advocates, and the one thing lawyers do that irks her, in the second of two articles based on an exclusive interview.

  • June 14, 2017

    Fla. Couple Can't Deduct Capital Losses, Tax Court Finds

    A Florida couple who sold their interest in a golf business partnership lost their challenge to more than $700,000 in federal tax deficiencies when the U.S. Tax Court ruled on Wednesday that their losses must be treated as capital losses that don’t qualify for a deduction.

  • June 14, 2017

    5 Federal Judges To Mediate Puerto Rico Bankruptcy Fights

    A team of five sitting federal judges across several jurisdictions was appointed on Wednesday to help mediate issues arising from Puerto Rico's massive debt restructuring proceedings, with U.S. Bankruptcy Judge Barbara Houser of Texas' Northern District to serve as leader of the group.

  • June 14, 2017

    Treasury, FEMA Seek Input On What Rules To Cut

    The departments of Homeland Security and Treasury took a public step toward rolling back existing federal regulations Wednesday, starting a review of rules to implement President Donald Trump’s executive order that requires two regulations be nixed for each new rule passed.

  • June 14, 2017

    Trump Budget Cuts Would Fall On Poor, Study Finds

    President Donald Trump’s proposed budget cuts would leave state and local governments scrambling to make up more than $450 billion in 10 years to deliver services that directly assist low- and moderate-income families, the elderly and people with disabilities, according to a think tank report Tuesday.

  • June 14, 2017

    Fla. Tax Preparers Want Feds' 'Bare Minimum' Complaint Axed

    Three South Florida tax preparers accused of allegedly padding their customers' tax returns with bogus businesses and fake education and fuel credits in order to get them refunds fought back Wednesday against the government's allegations, saying they should be dismissed for lack of specificity.

  • June 14, 2017

    Hughes Hubbard Adds Trust And Estate Partner

    Hughes Hubbard & Reed LLP has bolstered its trust and estate group by hiring a former Greenberg Traurig PA partner with experience counseling wealthy individuals and families on estate, gift, generation-skipping transfer and income tax matters.

  • June 14, 2017

    No Need To Continue Cap-And-Trade Fight, Calif. Says

    California air regulators and allied environmental groups urged the state Supreme Court on Wednesday to reject challenges to the state's greenhouse gas cap-and-trade program, saying arguments that auction revenues constitute an unauthorized tax are increasingly academic given the program's unique nature and subsequent state tax law changes.

Expert Analysis

  • My Milkshake Is Better Than Yours: Part 1

    Jill Dessalines

    As I sat there listening, incredulous to learn that "Milkshake" was not only a real song but also a chart-topper, it reminded me of Harvard Business School Professor Clayton Christensen’s work on disruptive innovation — and how it pertains to mid-size law firms, says Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former assistant general counsel of McKesson Corp.

  • The 1st Amendment Right To Pass Through Fees — And Taxes

    Eric Tresh

    The U.S. Supreme Court recently ruled that a New York statute that prohibits identifying a surcharge for credit card users regulates speech and is therefore subject to heightened scrutiny. The impact on how businesses collect or seek reimbursement for the costs of state and local taxes from their customers could be significant, say Eric Tresh and Alla Raykin of Eversheds Sutherland.

  • Pretax Premiums May Have Employees Singing Post-Tax Blues

    Matt Gerard

    A recent IRS memo states that payments made to participants under certain fixed indemnity health plans must be included in employees’ gross income, unless the premiums for such plans are paid on an after-tax basis. However, the memo does not address how employers should administer these taxable fixed indemnity payments, says Matt Gerard, in-house legal counsel at National Benefits Services.

  • Attorneys, Your Input Is Needed On Deposition Rule

    Frank Silvestri, Jr.

    Every lawyer who’s handled a civil case in federal court knows about Rule 30(b)(6), governing deposition procedures. But for many real-world deposition dilemmas, the rule offers little guidance. Last year, an Advisory Committee on Civil Rules subcommittee began considering whether the rule should be amended. Now attorneys must advise the subcommittee how to proceed, says Frank Silvestri Jr. of Verrill Dana LLP.

  • In Congress: Budget, Health Care, Comey

    Richard Hertling

    As we approach the Memorial Day recess, President Trump’s firing of FBI Director James Comey and allegations that the president sought to stop the FBI from investigating former National Security Advisor Michael Flynn’s potential ties to Russia remain at the top of the news cycle and threaten to derail Republican efforts to pursue health care and tax reform, among other priorities, say Richard Hertling and Kaitlyn McClure of Covingt... (continued)

  • How Client Feedback Programs Benefit Law Firms And Clients

    Elizabeth Duffy

    Despite an increase in engagement with client feedback programs over the last 15 years, law firms — and their clients — have a way to go before realizing the maximum benefits such programs can deliver, says Elizabeth Duffy of Acritas US Inc.

  • A Primer On Effectively Connected Income

    Excerpt from Lexis Practice Advisor
    Adam Tejeda

    Adam Tejeda and Elizabeth Crouse of K&L Gates LLP present a brief overview of effectively connected income and the tension between ECI and foreign investors' goals in making U.S. investments.

  • Solving The Legal Industry's Data Protection Breakdown

    Jeff Ton

    Most law firms today aren't using common security and data protection measures that other industries employ to protect sensitive data. Options like continuous data replication and backups have various pros and cons, but most importantly, law practices must understand the need for a two-tiered approach to data protection, says Jeff Ton of Bluelock LLC.

  • 5 Things To Know About Justice Gorsuch’s First 30 Days

    Charles Webber

    Justice Neil Gorsuch joined the U.S. Supreme Court a little more than 30 days ago, on April 7, 2017. And while it is too early for him to have written any opinions, Gorsuch participated in the final 13 oral arguments of the 2016 term. Charles Webber of Faegre Baker Daniels LLP offers five takeaways from his first month on the job.

  • In Congress: Post Comey

    Richard Hertling

    The GOP majority is undoubtedly hoping the political storm surrounding FBI Director James Comey's dismissal does not derail its agenda for the 115th Congress, say Richard Hertling and Kaitlyn McClure of Covington & Burling LLP.