The Second Circuit on Tuesday overturned an accountant's tax conviction after finding the government violated his constitutional right against unreasonable searches and seizures by collecting his personal computer files in a search for his clients' business records and holding the files for nearly three years.
Sixteen attorneys from Trenton, New Jersey’s Riker Danzig Scherer Hyland & Perretti LLP will decamp to a new firm opening mid-July in Florham Park, New Jersey, initially focusing on tax and mergers and acquisitions, two of the new firm’s named partners told Law360 on Tuesday.
A Minnesota federal judge has denied Wells Fargo & Co.’s claim that certain communication pertaining to a $1.25 billion structured trust advantaged repackaged securities, or STARS, transaction may be excluded as privileged from the bank’s $164 million refund suit against the Internal Revenue Service.
The U.S. Tax Court on Tuesday declined to vacate a decision to uphold a decades-old IRS assessment, rejecting the taxpayers' challenge to the ruling after the U.S. Supreme Court gave taxpayers the right to inspect initial reports written by the courts.
A New York City appellate court on Tuesday affirmed dismissal of a legal malpractice case brought by a woman who claimed Wilson Elser Moskowitz Edelman & Dickler LLP failed to request tax documents that would have left her with a stake in a property, finding she failed to show the conduct caused her loss.
The Internal Revenue Service threw a wrench into the proposed Chapter 11 bankruptcy plan filed by specialty retailer Brookstone Holdings Corp. on Monday, saying the company's reorganization plan attempts to improperly shed more than $1.6 million in past-due tax debt and administrative expense costs.
More than three quarters of the top CEOs around the country believe that the passage of a tax extender bill currently in Congress would serve as a bridge to a complete overhaul of the tax code, according to poll results released Tuesday by corporate advocacy group Business Roundtable.
The Internal Revenue Service has known for months that it had lost years' worth of emails from alleged political-targeting ringleader Lois Lerner, despite keeping investigators in the dark until last week, two congressional leaders said Tuesday.
The U.S.' economic recovery is stronger than most countries in the Organization for Economic Cooperation and Development, the body said in a new report, but will remain sluggish until the nation cuts its corporate tax rates and reduces its tax allowances.
New York's legislative bid to allow marijuana for medical use came down to the wire Tuesday, but despite deals on who could use it, the tax rate, how much could be dispensed and who would oversee the process, Gov. Andrew Cuomo's opposition to allowing for smokeable pot threatened enactment.
Find a firm or a law department with a collegial atmosphere, or create one. Don’t stay in an environment that is uncomfortable or one that does not make you feel like a valued member of the team, says Gayle Sproul, a member of Levine Sullivan Koch & Schulz LLP's executive committee.
While I don’t usually think of it as an old boys’ network, there are times when I’m at a closing dinner, and I notice people looking over in a restaurant — it is only then that I realize I’m the only woman sitting at a table with 13 men and that people are curious as to what is going on, says Monica Shilling, co-head of Proskauer Rose LLP's global private equity group.
The U.S. Supreme Court on Monday refused the appeal of a San Francisco restaurateur who sought to overturn his conviction for tax evasion and mail fraud on grounds that the Internal Revenue Service violated the U.S. Constitution by illegally seizing his correspondence with his attorney.
A bill aimed at solving the shortage of civilians working in combat zones by offering them the same tax break available to active military personnel has gained the endorsement of the National Active and Retired Federal Employees Association, a lobbying group that advocates for benefits for federal employee and retirees.
Hertz Global Holdings Inc. was hit with a proposed class action Friday in New Jersey federal court accusing the car rental company of defrauding shareholders by filing inaccurate financial reports, following Hertz’s disclosure that it found accounting errors for the past three years.
The New Jersey Assembly on Monday approved legislation to create a pilot program to give distressed communities more power to bid in tax sales, which will enable them to profit off the sales and help troubled taxpayers.
A North Carolina federal judge on Monday axed class action claims in a lawsuit alleging The Lincoln National Life Insurance Co. disguised abusive tax shelters as welfare benefit plans, saying the claims will be better pursued individually.
Chamberlain Hrdlicka White Williams & Aughtry was slapped with a malpractice suit in Texas court Thursday, by a former client claiming the firm allowed a $1.6 million judgment to be entered against it in a dispute over allegedly unpaid sales tax.
Public pressure from the Obama administration convinced the Internal Revenue Service to target conservative nonprofit groups for political activity, according to a House Oversight Committee report Monday.
Illinois Gov. Pat Quinn announced Monday that online marketplace auction site eBay Inc. is expanding in Illinois, after the state agreed to give the company $12 million in tax credits over a 10-year period, creating 360 new jobs in the state.