Tax

  • April 21, 2014

    Kan. Gov. Revives Farm Industry Tax Breaks

    Kansas Gov. Sam Brownback on Friday revived two tax provisions that allow ranchers to offset capital gains made off the sale of livestock and provides for a sales tax exemption on certain types of agriculture-related investments.

  • April 21, 2014

    US Says Dow Deserves Stiffer Penalty For $1B Tax Shelter

    The U.S. government told the Fifth Circuit on Thursday that Dow Chemical Co. should be subject to larger penalties for engaging in sham investment partnerships that prosecutors claim generated about $1 billion in bogus tax breaks.

  • April 21, 2014

    Fla. Tax Execs Get Prison Time For $2M Refund Scheme

    A federal judge on Friday sentenced two Florida tax preparers to about eight years in prison for their roles in a $2 million tax fraud and identity theft scheme, court documents show.

  • April 21, 2014

    Los Angeles Times Pushes For Calif. Film Tax Breaks

    California needs to boost its film tax program to keep productions from fleeing the state, a Los Angeles Times editorial argued Monday.

  • April 21, 2014

    Tax Court Dulls Privilege Sword In Shelter Fights

    The U.S. Tax Court on Wednesday seemingly dealt a blow to the attorney-client privilege when it ordered two partnerships to release attorney opinion letters on the viability of tax shelter transactions, but attorneys say the ruling merely prevents taxpayers from using privilege as both a sword and a shield. 

  • April 21, 2014

    Female Powerbrokers Q&A: Allen Matkins' Amy Wintersheimer

    Law firms often place too much emphasis on the number of hours billed, when there are far more important things to be considered in determining who should be your partner, says Amy Wintersheimer Findley, a member of Allen Matkins Leck Gamble Mallory & Natsis LLP's management committee.

  • April 21, 2014

    Female Powerbrokers Q&A: Horvitz & Levy's Lisa Perrochet

    Sexism can seriously undermine the respect that an accomplished attorney should receive. At the same time, the existence of sexism can lead an attorney to believe that a comment or criticism stems from bias even when it doesn’t. Don't assume the worst, and don't suffer in silence, says Lisa Perrochet, a partner with Horvitz & Levy LLP.

  • April 21, 2014

    Parties In Gay Marriage Dispute Want Quick Ruling On Pa. Ban

    Plaintiffs pushing a federal court challenge to Pennsylvania’s ban on marriage for same-sex couples asked a judge to rule on the briefs instead of waiting for a trial scheduled for June, noting on Monday that the state did not oppose the move.

  • April 21, 2014

    Former Obama Adviser Calls For End Of Capital Gains Tax

    The former chief economic adviser for President Barack Obama on Sunday came out in support of abolishing the capital gains tax as a way to boost growth.

  • April 21, 2014

    Mayer Brown Tax Partner Stuck With Rollover Penalty

    A U.S. Tax Court judge has upheld the penalty he imposed on a Mayer Brown LLP tax attorney for following Internal Revenue Service publications that the judge ruled was incorrect.

  • April 18, 2014

    The 25 Best Law Firms For Female Partners

    Bucking a nationwide trend among law firms of subpar female representation at the partner level, Law360's inaugural class of Ceiling Smashers have shown a commitment to gender equality.

  • April 18, 2014

    Justices Asked To Hear Race Bias Claims Over Ala. Tax Law

    A group of Alabama schoolchildren claiming that the state's property tax laws are unconstitutional and racist recently asked the U.S. Supreme Court to reconsider a January ruling by the Eleventh Circuit that they lacked standing to sue.

  • April 18, 2014

    IRS Announces Nationwide Tax Forum Dates, Locations

    The Internal Revenue Service on Friday announced the dates and locations for its annual Nationwide Tax Forum, a series of events the agency hosts to keep tax professionals up to date on the law, with events in Chicago, San Diego, New Orleans, Orlando and the Washington, D.C., metro area.

  • April 18, 2014

    86 Countries Endorse VAT Cross-Border Framework

    Eighty-six countries have endorsed a new international framework that will make it easier to apply national value-added tax rules to cross-border transactions, the Organization for Economic Cooperation and Development said Friday.

  • April 18, 2014

    Ernst & Young Appoints New Global Vice Chair, GC

    Ernst & Young LLP has promoted one of its continental leaders to a new position responsible for helpings its global network of offices work together.

  • April 18, 2014

    Alaska House Passes Bill To Nix Film Tax Credit In 2016

    The Alaska House of Representatives passed legislation on Thursday that abolishes the state’s film tax credit in 2016, pending a report to the Legislature on tax revenue that is slipping between the cracks.

  • April 18, 2014

    Colo. Pols Target More Frequent Marketing Tax Remittance

    Colorado lawmakers, possibly as early as next week, are likely to pass proposed legislation that would require hotels and condominiums to remit local marketing and promotion taxes on a monthly basis, as opposed to quarterly.

  • April 18, 2014

    Ariz. Close To Strengthening Captive Insurer Regs

    A bill sent Thursday to Arizona Gov. Jan Brewer would strengthen state standards for captive insurers by requiring insurance subsidiaries to disclose more information regarding their financial relationships to their affiliated companies and provide regulators with additional tools to oversee potentially problematic tax structures.

  • April 18, 2014

    10th Circ. OKs $18M Judgment Due To Bad Record Keeping

    The Tenth Circuit on Friday agreed with calculations made by the Internal Revenue Service when it slapped a New Mexico couple with $18 million in past-due taxes, saying the couple’s lack of record keeping required the IRS to reconstruct their income.

  • April 18, 2014

    GAO Says 99% Of Large Partnerships Escaping IRS Audits

    The Internal Revenue Service has failed to audit 99 percent of tax returns filed by large partnerships with assets exceeding $100 million, according to a U.S. Government Accountability Office report made public Thursday.