Tax

  • October 21, 2013

    NJ High Court Won't Hear Madoff Funds' KPMG Appeal

    The Supreme Court of New Jersey declined Friday to take up a malpractice suit filed by four feeder funds that were drained by Bernard Madoff's Ponzi scheme due to KPMG LLC's alleged negligence, leaving arbitration as the only option for settling the dispute.

  • October 18, 2013

    Ex-Pittsburgh Police Chief Cops To Misappropriating Funds

    Nate Harper, the former chief of police of the city of Pittsburgh, Pa., pled guilty on Friday to federal charges that he misappropriated funds and did not file federal income tax returns.

  • October 18, 2013

    Iran-Linked Group Seeks To Stop Seizure Of Mosques, Schools

    Islamic cultural group The Alavi Foundation asked a federal judge Wednesday to block the U.S. government's bid to force the forfeiture of seven of its mosques and school buildings amid claims that the group is a front for the Iranian government, arguing that the properties are not commercial assets.

  • October 18, 2013

    Orbitz Wins Fight To Keep Its Hotel Contracts Secret

    Indiana's tax court on Wednesday granted travel company Orbitz Worldwide Inc.'s motion to not show its Indiana hotel contracts to state regulators accusing the company of underpaying its taxes in 2007, ruling the documents represent trade secrets.

  • October 18, 2013

    Retired Pa. Lawyer Denies $1.7M Tax, Identity Theft Charges

    A retired Pennsylvania estate and probate lawyer pled not guilty Friday to federal charges of defrauding a client’s estate of more than $1.7 million.

  • October 18, 2013

    Toys R Us Can't Recover $10M In Times Square Rent, Taxes

    Toys R Us Inc. can't get back $10 million it allegedly overpaid in rent for its Times Square flagship store because of miscalculated taxes, a New York state appeals court ruled Thursday, pointing out that the retailer paid the alleged overcharges unquestioningly for 12 years.

  • October 18, 2013

    Bond Schoeneck Wins Relief From Empire Zone Tax Clawback

    New York was not entitled to strip the law firm Bond Schoeneck & King PLLC and a Syracuse accounting firm of their Empire Zone benefits retroactively, as it did in 2009, a midlevel appellate court ruled Thursday, in the wake of a related decision by the state's highest court on the question.

  • October 17, 2013

    SC High Court OKs County's Road Tax Referendum

    South Carolina's highest court refused Thursday to stop Florence County from enacting a proposed tax referendum to raise funds for infrastructure projects after failing to complete projects taken on under a similar referendum, finding no prohibition under the state's Capital Project Sales Tax Act.

  • October 17, 2013

    Sebelius Blasts Injunction Bid On ACA Tax Incentives

    Secretary of Health and Human Services Kathleen Sebelius on Wednesday contested an interpretation of the Affordable Care Act's mandate on tax subsidies by a group of Virginia residents seeking a preliminary injunction on rules extending tax credits to consumers in states with federally run exchanges.

  • October 17, 2013

    Fla. Marketing Groups Support Counties In Bed Tax Fight

    An association of local Florida tourism councils on Wednesday backed Florida counties in their dispute with online companies such as Expedia Inc. over how to apply the state's bed tax, saying that siding with the companies would cost the state $70 million annually in tax revenue.

  • October 17, 2013

    Valero Beats Tax Assessor's Bid For Texas Refinery Data

    A Texas appeals court said Thursday that a Valero Energy Corp. unit does not have to disclose proprietary documents relating to its refinery at the center of a property tax dispute, saying the information is unnecessary for tax authorities to determine the asset's value.

  • October 16, 2013

    SoCal Edison Says Ratepayer R&D Charge An Improper Tax

    The California Public Utilities Commission cannot require electric utilities to collect $162 million per year from ratepayers to fund research and development programs, Southern California Edison Co. told a California appeals court Wednesday, saying the charge was a tax that the agency is not authorized to impose.

  • October 15, 2013

    Australian PM Floats Legislation To Repeal Carbon Tax

    The new Australian government is moving ahead with plans to eliminate the country's carbon tax by July 2014, releasing draft legislation Tuesday and pledging that the measure will be the Parliament's first item of business for the new session.

  • October 15, 2013

    DuPont Escapes $12.5M Suit Over Escrow Agreement Breach

    A New York federal judge on Tuesday tossed a suit brought by American Securities LLC against DuPont Co. that accused the company of breaching several agreements by blocking the release of escrow monies related to a $485 million sale.

  • October 15, 2013

    NC Counties Take Fannie, Freddie Tax Case To 4th Circ.

    North Carolina counties pursuing a class action against Fannie Mae and Freddie Mac said Monday that they would appeal a federal court's ruling that the two mortgage giants are exempt from paying real estate transfer taxes in the state.

  • October 11, 2013

    Jones Day Adds 6 Holland & Knight RE, Tax Attorneys

    A group of six Holland & Knight LLP real estate finance and tax attorneys, including three partners, has joined Jones Day in the firm's Boston and Chicago offices, Jones Day announced recently.

  • October 11, 2013

    US Says Benefit Plan Scheme Costs Millions In Taxes

    The U.S. government sued an insurance program marketer in California federal court Wednesday in an effort to shut down a purported scheme pushing small businesses to buy into employee benefits programs it claims are structured to cheat the government out of millions of dollars in taxes.

  • October 10, 2013

    Obama, GOP Fail To Reach Deal On Debt Limit And Shutdown

    President Barack Obama on Thursday didn't agree to a plan by Congressional Republicans to raise the U.S. debt limit for six weeks without ending the continued shutdown of the federal government, although the White House said they would continue talking, according to a report.

  • October 10, 2013

    Dentons Attys Join Reed Smith Amid McKenna Merger Talks

    Amid merger talks between Dentons and McKenna Long & Aldridge LLP, a five-member team from Dentons has decamped to Reed Smith LLP, bolstering the latter firm’s tax and corporate practices in New York and Washington, D.C., it was announced Wednesday.

  • October 10, 2013

    Bankrupt OSG To Sue Former Attys Over Faulty Advice

    Overseas Shipholding Group Inc. indicated on Tuesday in Delaware bankruptcy court that it may be suing its former attorneys over advice they provided, news that follows revelations that the tanker company's tax issues possibly span more than a decade.