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Tax

  • June 18, 2014

    Deloitte Freed From Backfired Tax Plan Suit In Canada

    A Canadian intermediate court axed a lawsuit alleging Deloitte & Touche LLP landed a building products company in hot water with tax authorities by urging it to undergo a corporate reorganization to avoid tax payments, ruling Monday that Deloitte sufficiently advised the company.

  • June 18, 2014

    House Panel Wants $341M Cut For 'Inefficient' IRS In 2015

    The House Appropriations Committee on Tuesday proposed cutting $341 million from the “scandal-plagued” Internal Revenue Service's 2015 budget and slapping it with new regulations as part of the committee's proposed $21.3 billion financial services spending bill.

  • June 18, 2014

    5 Commonly Missed Tax Credits And Deductions

    Federal and state tax credits and deductions are like free money for taxpayers, but many are often overlooked because of their complexity and sometimes onerous eligibility requirements. Below, tax experts share five underappreciated business tax credits and deductions.

  • June 18, 2014

    House Committee Approves Permanent Ban On Internet Taxes

    A bill to permanently ban the taxation of Internet access was sent to the full House of Representatives on Wednesday, months before a tax moratorium on the states is set to expire.

  • June 18, 2014

    Female Powerbrokers Q&A: Bush Seyferth's Cheryl Bush

    We are a women-owned law firm, and potential clients sometimes make assumptions about the types of cases we handle. We work hard to show that we excel at bet-the-company trials and appeals on a national basis. If we can get them to listen, we usually get the work, says Cheryl Bush, majority owner and managing partner of Bush Seyferth & Paige PLLC.

  • June 18, 2014

    Female Powerbrokers Q&A: Davis Wright's Kelli Sager

    I find it challenging sometimes to express my views honestly without being viewed as too harsh or domineering — even when a male colleague who says the same thing, or worse, would be heralded, says Kelli Sager, a partner with Davis Wright Tremaine LLP.

  • June 17, 2014

    HHS Touts ACA Tax Savings In Debut Enrollment Period

    The Obama administration reported Wednesday that close to 90 percent of those who bought health insurance through the federal marketplace this year collected tax credits under the Affordable Care Act, but it offered no new insight on whether the subsidies might threaten the law’s long-term viability.

  • June 17, 2014

    6th Circ. Sets August Hearing For 5 Gay-Marriage Cases

    The Sixth Circuit on Monday scheduled oral arguments in five battles over gay marriage in Ohio, Michigan, Kentucky and Tennessee for a single session on Aug. 6, setting the stage for a potentially historic day in the four states under the circuit's jurisdiction.

  • June 17, 2014

    2nd Circ. Vacates Tax Conviction On Data Seizure Grounds

    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.

  • June 17, 2014

    16 Riker Danzig Attys Break Away To Start New NJ Firm

    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.

  • June 17, 2014

    Wells Fargo Can't Say Docs Are Privileged In $164M IRS Row

    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.

  • June 17, 2014

    Tax Court Rejects Challenge To Ruling In 27-Year-Old Case

    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.

  • June 17, 2014

    Wilson Elser Sinks $1.5M Malpractice Suit In NY Court

    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.

  • June 17, 2014

    Brookstone Ch. 11 Plan Ducks $1.6 Million IRS Debt

    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.

  • June 17, 2014

    CEOs Say Tax Extender Bill Will Usher In US Tax Reform

    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.

  • June 17, 2014

    IRS Keeping Scandal Evidence From Investigators, GOP Says

    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.

  • June 17, 2014

    Tax Reforms Could Boost US Economic Recovery, OECD Says

    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.

  • June 17, 2014

    Cuomo's 'No' Threatens To Vaporize NY Medical Pot Bills

    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.

  • June 17, 2014

    Female Powerbrokers Q&A: Levine Sullivan's Gayle Sproul

    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.

  • June 17, 2014

    Female Powerbrokers Q&A: Proskauer's Monica Shilling

    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.