Tax

  • March 14, 2017

    Coca-Cola Can't Nix $14M Plant Valuation At Ohio High Court

    Ohio’s Supreme Court refused Tuesday to upend a $14 million tax evaluation imposed on a Coca-Cola bottling and distribution company's Cincinnati facility, concluding the local auditor’s evaluations were properly relied on and that the appraisal method conformed with state law.

  • March 14, 2017

    Stroock Hires Ex-Morrison & Foerster Tax Partner

    A former Morrison & Foerster LLP tax attorney, whose tax-related transaction work includes advising Global Logistic Properties Ltd. on an $8.1 billion real estate purchase, has joined Stroock & Stroock & Lavan LLP as a partner in New York, the firm said.

  • March 14, 2017

    IRS Fights University's Quick Win Bid On $2.9M Tax Claims

    The federal government on Monday urged a Utah federal court to reject the University of Utah’s attempt to recoup $2.9 million in taxes it paid related to its retirement plans, saying payroll tax exemptions for university student employees do not extend to medical residents.

  • March 14, 2017

    Feds Say Fla. Tribe Can't Dodge Tax Ruling On Casino Cash

    The federal government urged the Eleventh Circuit on Monday to uphold a lower court ruling that a Miccosukee Tribe of Indians member was responsible for taxes on the tribe's payments to her, saying the lower court rightly found the money was taxable gaming income and that the tribe is bound by the ruling.

  • March 14, 2017

    5th Circ. Affirms Nix Of Suit Over IRS Foreign Account Penalty

    A dual U.S.-Swiss citizen who failed to disclose his foreign bank account to the Internal Revenue Service may have to face a potential tax penalty of $1.4 million after the Fifth Circuit ruled Monday that he lacked standing to sue the IRS.

  • March 14, 2017

    Commerce Knocks Chinese Sink Duty Appeal In Fed. Circ.

    The U.S. Department of Commerce has slammed a Chinese company's challenge to a U.S. Court of International Trade decision upholding an anti-dumping tariff on Chinese stainless steel sinks, telling the Federal Circuit the company has shown no evidence the ruling was made in error.

  • March 13, 2017

    Tax Reform Needs To Benefit US Tech Cos., Panel Says

    With tax reform a hot topic for the Republican-controlled Congress, a panel of experts from both the private and public sectors said Monday that now is the time to tackle what they called an outdated tax code that disadvantages U.S. tech companies competing in a global marketplace.

  • March 13, 2017

    Accountant Gets 5 Years For $1.5M Ponzi Scheme

    A Connecticut man who prosecutors say operated a $1.5 million Ponzi scheme has been sentenced to more than five years in prison after he pled guilty last year to charges of mail fraud and money laundering.

  • March 13, 2017

    Tax Execs Expect Congressional Conflicts To Slow Reform

    Tax executives at major corporations are concerned that disputes within Congress will hold up the pace of progress on promises to overhaul federal tax laws from the House Republicans and President Donald Trump, according to survey results released Monday.

  • March 13, 2017

    Texas Justices To Weigh Heavy Equipment Tax Law Challenge

    The Texas Supreme Court on Friday agreed to resolve a split among lower Texas courts on whether a state tax law uses an unconstitutional framework to value heavy equipment like pipeline compressors.

  • March 13, 2017

    11th Circ. Nixes Mexico Tourism Tax Racketeering Suit

    The Eleventh Circuit on Monday rejected a fraud suit from Mexican citizens living in the United States who alleged that seven airlines conspired to charge travelers a $20 to $25 tourism tax for U.S.-Mexico flights, saying there wasn’t enough evidence to back up their racketeering claim.

  • March 13, 2017

    Involuntary Servitude Bars Criminal Charges, Justices Told

    A software and hospitality executive accused of not withholding federal taxes has urged the U.S. Supreme Court to overturn the Sixth Circuit’s decision forcing him to face criminal charges on top of a civil suit, saying that his being ordered to work without pay in the civil case now bars the criminal case.

  • March 13, 2017

    24M Fewer Insured Under ACA Repeal, CBO Says

    Republican plans to repeal and replace the Affordable Care Act could cause 24 million Americans to go without health insurance, the Congressional Budget Office estimated Monday.

  • March 13, 2017

    Investors Say Starbucks Must Face Suit Over EU Taxes

    A putative class of Starbucks Corp. shareholders on Friday blasted the coffee giant’s bid to nix a suit stemming from a European Commission probe into alleged corporate activity designed to avoid taxes, arguing that Starbucks had no right to refuse to investigate certain company board members and executive officers.

  • March 13, 2017

    Okla. House Approves Ending Wind Tax Credit In July

    Oklahoma’s House passed a controversial bill that eliminates tax credits for electricity generated by zero-emission facilities, such as wind turbines, four years earlier than expected.

  • March 10, 2017

    Taxing Remote Vendors Politically Safer Than Tax Hikes

    Despite the low odds of overturning Supreme Court law mandating that states can only levy transaction taxes on retailers physically present within their borders, cash-strapped states across the U.S. are pursuing creative ways to tax out-of-state retailers in the face of political challenges presented by tax increases and spending cuts.

  • March 10, 2017

    Reconciliation Offers Path To Tax Reform, Trump Adviser Says

    Republicans will "absolutely" pursue tax reform under the budget reconciliation process, the White House National Economic Council director said Friday, referring to the procedure that allows Senate passage of bills related to the budget on a simple majority vote, but is limited to a 10-year time frame.

  • March 10, 2017

    Railroads Ask 9th Circ. To Keep Block On Calif. Hazmat Fee

    BNSF Railway Co. and Union Pacific Railroad Co. pressed the Ninth Circuit on Thursday to uphold a federal court’s ruling that blocked California’s tax board and regulators from implementing a new law that slaps a fee on rail cars transporting hazardous materials such as crude oil and chemicals.

  • March 10, 2017

    Fla. House OKs Bill Gutting Gov.'s Tax Incentive Programs

    The Florida House of Representatives voted Friday to eliminate the tax incentive programs meant to lure businesses to the state and to increase oversight of the state's tourism marketing corporation, setting up a showdown with the governor, who called it “job-killing legislation.”

  • March 10, 2017

    Philly Urges Appeals Court To Affirm Soda Tax's Legality

    The city of Philadelphia urged a Pennsylvania appeals court Friday to affirm a decision finding that the city’s controversial new levy on sugar-sweetened beverages did not usurp the state’s taxing authority, saying opponents were making political arguments that didn’t implicate the tax’s legality.

Expert Analysis

  • Opinion

    Lawyers Cannot Stay Silent While Trump Belittles The Courts

    Alexandra Wald

    This is not the first time that a president has criticized the judiciary. But what is unique about President Donald Trump's attacks is that they target not just a specific decision, but the judiciary and its decision-making power altogether. Every lawyer, regardless of political persuasion, must speak up, says Alexandra Wald of Cohen & Gresser LLP.

  • Marketing Basics For Solo Practitioners And Small Law Firms

    Matthew Horn

    There is no question that solo practitioners and small law firms need to spend the majority of time on legal work, but in order to achieve sustainable growth, marketing should not be a secondary task “put-off” until you have some free time, says Matthew Horn, founder of Legal Services Link LLC.

  • Demystifying International Extradition

    Amy Jeffress

    There were many high-profile news stories in 2016 about individuals fighting extradition to or from the United States. Given the complexity and sensitivity of the issues involved, extradition is time-consuming, often taking years. The process by which the U.S. evaluates hundreds of extradition requests each year may be unfamiliar to many practitioners, say attorneys with Arnold & Porter Kaye Scholer LLP.

  • Implications Of Closing The 'Carried-Interest Loophole'

    Excerpt from Lexis Practice Advisor
    Robert D. Starin

    Politicians from both major political parties tout closing the “carried-interest loophole” as a primary aspect of their tax reform agendas. Carried-interest legislation, if enacted, would impose questions and challenges not only on private equity firms and their advisers, but on a wide array of businesses, says Robert Starin of K&L Gates LLP.

  • Uniformity Vs. Autonomy In Insurance Regulation: Part 2

    Nicole M. Zayac

    In light of significant developments in the EU such as Brexit, it appears likely that the pendulum is shifting away from expanding the role of the federal government in insurance regulation. This could mean either a return to state autonomy, or increased uniformity fostered by federal deregulation, say Nicole Zayac and David Hauge of Michelman & Robinson LLP.

  • Law Firm Margin Improvement: The Long Game

    Jack Diggle

    For all the lessons learned since 2008, it's surprising that margin management remains so tactical, rather than an ongoing strategic endeavor, for law firms. The firms that will survive and thrive must invest in ongoing margin-improvement capability, which will combine enhanced business- and change-management skills and take a long-term view to drive out the more difficult changes, says Jack Diggle of Elevate Services Inc.

  • Considerations For PE Funds Eyeing Foreign Portfolio Cos.

    Christopher Kula

    The viability of pursuing foreign opportunities depends upon the composition of a private equity fund’s investor base, whether the fund’s strategy allows such investments, and whether the fund documents provide the requisite flexibility to make foreign investments on a tax-efficient basis, says Christopher Kula of Cole Schotz PC.

  • 2017 Check-Up: Is Your Law Firm Positioned For Success?

    William G. Johnston

    Over the next few weeks, a slow trickle of news about one measure of law firm success — law firm financial results — will gradually become a flood as more firms open up about their performance in 2016. Law firm leaders would be wise to focus on nine factors that determine success, says law firm management consultant William Johnston.

  • The Missing Key To 3rd-Party Litigation Funding

    Tripp Haston

    Unlike other forms of commerce and unlike in other nations, litigation investment and funding in the U.S. is largely unregulated with few disclosure requirements. Where darkness exists, ignorance and mistrust breed. Disclosure and transparency in litigation investment and funding is the first and proper step to better understand this opaque dynamic in the U.S. civil justice system, says Tripp Haston of Bradley Arant Boult Cummings LLP.

  • The 5th Amendment's Essential Role In Offshore Audits

    Michael DeBlis III

    The Fifth Amendment is normally associated with criminal proceedings and the prohibition against self-incriminating testimony. However, its protections also apply in some other matters, such as contempt of Congress. More importantly for tax law purposes, there is a documentary production privilege, and there is a trio of cases that flesh out this concept, says Michael DeBlis III of DeBlis Law.