Greenberg Traurig LLP has snapped up a new shareholder from Kramer Levin Naftalis & Frankel LLP who has a lengthy history in tax, corporate and securities law, the firm said Monday.
Clients focused on financing their global business operations have been seeing increased interest on the part of the Internal Revenue Service in intercompany indebtedness lately, says Jason Bazar, co-chairman of Mayer Brown LLP's tax transactions and consulting practice.
More than 1 million people own part of Bitcoin's $12 billion market cap, but the IRS has not yet issued guidance on how it will treat the booming world of digital currencies, leaving taxpayers to find their own solutions. This is Part 1 of a two-part series on the taxation of Bitcoin and other digital currencies. Part 2 will be published Wednesday.
An Internal Revenue Service official addressed a packed house of tax attorneys in New York on Tuesday, giving guidance on the future of the agency's no-rule policy and its application to granite trusts, hook equity and North-South transactions.
If taxpayers think this year's delayed tax filing season is an annoyance, they soon will experience greater frustrations due to severe budget cuts that will increase taxpayer hold times and delayed agency responses, the leader of the National Treasury Employees Union said Tuesday.
The New Jersey Supreme Court ruled Tuesday that the state's wrongful death laws do not allow heirs to recover damages for estate taxes that are paid at the time of a person’s death.
Intergovernmental agreements designed to halt offshore tax evasion are becoming key to enforcing the Foreign Account Tax Compliance Act, but bring new enforcement issues, a panel of tax attorneys told the New York State Bar Association on Tuesday.
The Virginia Senate on Monday unanimously approved legislation that would require satellite television customers to pay sales and use taxes on the equipment they lease or purchase.
The Internal Revenue Service on Monday detailed how taxpayers can receive a time extension to make portability elections and transfer a decedent spouse's unused estate tax exclusion to a surviving spouse in response to the U.S. Supreme Court's June ruling extending federal benefits to same-sex spouses.
As a junior associate, I was told that I should be more "bubbly" in dealing with assigning partners. I was fairly certain that my male colleagues were not given the same "constructive" criticism. But I went on my non-bubbly way and seemed to do just fine, says Pauline Morgan, chairwoman of Young Conaway Stargatt & Taylor LLP's bankruptcy section and a member of the firm's management committee.
In reflecting on what it was like being a woman entering a male-dominated field, I realize that having studied and performed ballet for 20 years was the best training I could ever have received before jumping into the legal profession in 1985, says Nan Alessandra, coordinator of Phelps Dunbar LLP's New Orleans employment law practice.
J.C. Penney Co. Inc. on Tuesday tightened its defenses against an unsolicited takeover in a move meant to ensure that the sputtering retailer can use its steep losses to tap into about $2 billion in future tax breaks.
First Northern Bank & Trust Co. urged a Pennsylvania federal court on Monday to find that it doesn't have to pay the U.S. Internal Revenue Service tax liabilities owed on a property the bank bought in 2012, saying the government’s liens were extinguished at sale.
The U.S. Tax Court on Monday provided taxpayers greater ammunition to fight for tax abatements when it declined to dismiss a petition challenging the Internal Revenue Service's refusal to suspend interest accruing on a California pair's years-old tax liabilities.
The U.S. Tax Court ruled Monday that although a Detroit apartment complex was owned by BSA Corp., the S corporation could not claim the complex's donation as a charitable contribution because the submitted property appraisals suffered “from a number of material deficiencies.”
Three Republican senators on Monday proposed a bill that would repeal and replace the Affordable Care Act, largely through changes to the Tax Code.
The Fourth Circuit on Monday upheld decisions finding that Fannie Mae and Freddie Mac are not liable for state and local real estate transfer taxes, ruling that the companies' congressional charter exempts them from the taxes despite a requirement that they pay other property taxes.
The U.S. Supreme Court on Monday denied a request for certiorari from three Illinois property owners who claimed local taxing authorities violated the First Amendment by increasing their property taxes after discovering they donated money to a state representative featured in news reports on alleged political favoritism.
Native American cigarette producer King Mountain Tobacco Co. Inc. was slapped with a possible $60 million Internal Revenue Service tax assessment Friday, after a district court in Washington ruled federal tobacco excise tax laws trump a 160-year-old treaty with the nation.
The U.S. Supreme Court on Monday passed on an appeal challenging Louisiana’s system for taxing smokeless tobacco, which causes out-of-state distributors to pay a higher levy than their in-state competitors.