Half of the people who call the Internal Revenue Service with tax questions will not be able to get through to a representative unless Congress restores the agency's funding, IRS Commissioner John Koskinen warned Friday at an American Bar Association conference.
A U.S. Department of the Treasury representative said Friday at the American Bar Association’s 2014 Tax Meeting that the government will ramp up application of the Foreign Account Tax Compliance Act on July 1, and that affected taxpayers should work to comply with FATCA or face governmental action.
Accident or health insurance premium payments issued by certain tax-exempt employee retirement trusts are taxable to the recipient unless those payments are used to pay premiums for disability insurance that replace retirement plan contributions for disabled workers, the Internal Revenue Service said Friday.
Blank Rome LLP said Thursday it has strengthened its white collar defense and investigations practice group with the addition of a former Edwards Wildman Palmer LLP attorney who has also served as a federal prosecutor at the U.S. Department of Justice’s Tax Division.
A U.S. senator and two governors on Thursday sharply criticized the prospective $106 billion merger between drug giants Pfizer Inc. and AstraZeneca PLC, piling tax concerns and job cut worries onto fears voiced by British officials since the potential deal came to light.
Too often, I have been in hiring meetings where attorneys question whether a woman candidate was aggressive enough to adequately represent our clients. Passing on candidates for that reason have cost us the opportunity to hire an attorney with quiet strength that is equally effective in getting favorable results for our client, says Patricia Trendacosta, managing shareholder of Frandzel Robins Bloom & Csato LC.
Many women need to be more proactive about creating their own referral systems. Five years ago, a group of women and I created a strategic network of women partners in firms across the country and in Canada specializing in noncompeting areas, and we all have experienced increased business success as a result, says Linda Kornfeld, managing partner of Kasowitz Benson Torres & Friedman LLP's Los Angeles office.
In this week's Taxation With Representation, Fried Frank works a mammoth deal between Merck and Bayer, while a small army of lawyers work the purchase of Forest Oil from all sides.
Attorneys and U.S. Internal Revenue Service officials butted heads Friday at an American Bar Association conference over the right approach to determining the deductibility of settlement payments.
The U.S. House of Representatives on Friday passed legislation to restore and make permanent a research tax credit that expired last year, potentially giving a boost to drugmakers, car manufacturers, defense contractors, technology companies and other research-intensive industries, with a strong focus on energy.
A Wisconsin appeals court on Thursday curbed the taxable value of Lands’ End Inc.’s headquarters, finding the City of Dodgeville relied on faulty figures when it assessed the property at more than $50 million.
New York’s highest court on Thursday affirmed a $186 million default judgment against two convicted tax evaders for defrauding a French bank on a loan to develop a Manhattan hotel, saying the evidence clearly shows they attempted to perpetrate a fraud on the court.
A Fort Pierce, Florida, marina owner on Monday prevailed in a challenge to property tax exemptions for two city-owned marinas in a case his attorneys say could have statewide effects and even broader implications for other types of facilities.
The Internal Revenue Service released final regulations Thursday itemizing the kinds of estate and trust costs that must meet a 2 percent floor to qualify as miscellaneous itemized deductions, largely maintaining proposed regulations issued in 2011 with a couple of twists.
Lipsmark LLC was on the brink of winning federal clearance to sell flavored, powdered alcohol, when its braggadocio about how "Palcohol" could be used led New York lawmakers to warn of potentially deadly results, a blunder legal experts say never would have been permitted by savvy counsel.
Ropes & Gray LLP's Carrie Simons has advised on several major transactions in recent years and led the firm's representation of American Tower Corp. in its $4.8 billion acquisition of private real estate trust MIP Tower Holdings LLC, earning her a spot on Law360's list of top tax lawyers under 40.
Speaking at the American Bar Association’s 2014 tax meeting, former U.S. Commissioner of Internal Revenue Douglas Shulman urged the Internal Revenue Service to focus heavily on transitioning to a mobile platform for tax information access and payment, saying mobile applications are the future of federal and local taxation.
The Internal Revenue Service is not taking its loss in a court battle over power to regulate unlicensed tax preparers lying down, and preparers should expect a whole host of new rules before next tax season, an IRS spokesperson said at the American Bar Association’s 2014 Tax Meeting.
A company that uses a subsidiary to reinsure health benefits it purchased for its retirees must treat that subsidiary as an insurer under federal tax law, the Internal Revenue Service said in a revenue ruling on Thursday.
Speaking at the American Bar Association’s 2014 Tax Meeting, an Internal Revenue Service representative said Thursday that although the tax authority previously pushed back implementation of the Foreign Account Tax Compliance Act, those with foreign investments should not expect any further delays.