The U.S. Senate voted Monday evening to debate a bill that would repeal an unpopular rule requiring the government to automatically withhold 3 percent from payments to contractors, following the overwhelming passage of the bill in the U.S. House of Representatives.
Archstone-Smith Operating Trust asked a California judge Monday to confirm an arbitration panel’s bellwether ruling that the real estate investment trust is not liable for over $100 million in investor income taxes triggered by its 2007 leveraged buyout by Lehman Brothers Holdings Inc.
Recently reorganized business lender CIT Group Inc. on Monday asked a New York bankruptcy judge to kill a lawsuit its former parent, Tyco International Ltd., brought over a $794 million tax agreement, saying the suit seeks an unfair payday.
The Second Circuit on Friday rejected a class of tenants' bid to revive claims that New Jersey property developer Essex Waterfront Partners LLC failed to provide proper tax returns related to interest earned on security deposits, establishing whether such a suit can be brought under the Internal Revenue Code.
Mall titan Simon Property Group Inc. on Thursday filed suit in Indiana in an effort to compel the state to start collecting sales tax from Amazon.com Inc., claiming the online retailer illegally ducks tax burdens that other stores shoulder.
A New York appeals court on Thursday affirmed a lower court's refusal to dismiss a class action against Metropolitan Tower Life Insurance Co. and Tishman Speyer Properties LP over their allegedly illegal pocketing of almost $25 million in tax breaks related to rent rates.
Democratic lawmakers Tom Harkin of Iowa and Peter DeFazio of Oregon on Wednesday introduced a proposal that, though unlikely to make it through Congress, would impose a tax on short-term trading by investment banks and other financial firms.
Brazil's economy is in overdrive and private equity investment is on the rise, but foreign investors remain hampered by an onerous tax regime as well as regulatory processes that are cumbersome and inscrutable, attorneys say.
The Obama administration's proposal to raise revenue by doubling the tax rate on carried interest for investment partnerships could rewrite the rules of real estate investment, and some experts say the result may be catastrophic for the industry.
A pair of former Jenkens & Gilchrist PC attorneys convicted of selling illegal tax shelters renewed their push for a new trial in New York on Thursday, calling a juror's alleged concealment of a history of alcoholism and petty crimes a "monstrous fraud on the court."
The U.S. House of Representatives voted overwhelmingly Thursday to repeal a rule requiring the federal government to automatically withhold 3 percent from payments to contractors, amid clamor that the measure could harm small businesses.
A real estate capital markets expert formerly at Luce Forward Hamilton & Scripps LLP has joined DLA Piper as a partner in its San Diego office as the firm looks to expand its securities and real estate transaction work in the city, it said Wednesday.
Bankrupt financial products insurer Ambac Financial Group Inc. told a New York court on Wednesday that it hoped to reach an agreement by early November with the Internal Revenue Service over disputed tax liabilities, including claims for at least $807 million.
President Barack Obama’s plan to raise taxes on private fund managers may carry populist thunder, but lawyers practicing in the private equity world say it could ultimately do more harm than good.
The U.S. Government Accountability Office recommended Thursday that the U.S. Department of the Treasury and the Internal Revenue Service consider revamping their tax policies concerning derivatives, saying that investors are using the deals to exploit loopholes in the federal tax code.
A Florida judge has ruled BankUnited Financial Corp.'s bankruptcy estate owns more than $45 million in federal tax refunds and not the Federal Deposit Insurance Corp. — the receiver for the company's failed bank subsidiary — BankUnited said Thursday.
Federal prosecutors in New York on Tuesday accused two Swiss bankers of participating in a scheme to hide more than $600 million from the Internal Revenue Service in offshore accounts.
There may be fair and equitable solutions to our tax predicament. But taxing carried interest as ordinary income is not one of them, says Gabor Garai, chairman of Foley & Lardner LLP's private equity and venture capital practice.
Europe's taxation commissioner on Thursday urged members of European Parliament to adopt a controversial financial transaction tax, calling push-back against his proposal unsurprising and reiterating that the new tax could generate €57 billion ($77.5 billion) per year for the 27 European Union states.
The U.S. Department of Justice on Monday wrapped up closing arguments in its antitrust suit seeking to halt H&R Block Inc.'s proposed $287.6 acquisition of the maker of TaxACT software with a renewed assault on the company's market definition.