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Tax

  • May 22, 2014

    Iowa Extends, Boosts Biodiesel Tax Credits

    Iowa Gov. Terry Branstad on Wednesday signed legislation that extends the state’s biodiesel producer tax incentive and promotes the development of bio-butanol and bio-butanol blended gasoline.

  • May 21, 2014

    Bombardier Fights Gov't Bid To Wrap Up $32M Tax Case

    Bombardier Aerospace Corp. on Tuesday fended off an argument that it owes the federal government nearly $20 million, telling a Texas federal court the government instead owes it $32 million in excise tax refunds and other deals.

  • May 21, 2014

    Employers Must Rethink Policies After Gay Marriage Wins

    With federal courts in Pennsylvania and Oregon becoming the latest to strike down state gay marriage bans, attorneys say the decisions should prompt employers to review their bereavement, anti-discrimination and other employment policies to account for same-sex spouses. 

  • May 21, 2014

    Butler Snow Adds Tax, Licensing Pro In Memphis

    Butler Snow has bolstered its tax, estate planning and software licensing practices with the addition of former Adams and Reese LLP counsel Joseph B. Walker as the newest partner in its Memphis office, the firm announced Wednesday.

  • May 21, 2014

    Tax Court Asserts It Can Address Partners' Tax Deficiencies

    The U.S. Tax Court said Wednesday it has the authority to redetermine whether tax deficiencies apply to gains that several partners earned once their partnerships liquidated, because the court must consider the partners' specific facts — meaning the issue isn't solely limited to partnership-level proceedings.

  • May 21, 2014

    Comcast Must Pay City Broadband Fees: Ore. Appeals Court

    An Oregon appellate court found Wednesday that the city of Eugene may impose a 7 percent licensing fee on Comcast Corp.’s broadband Internet revenue but said the city’s bid for an additional 2 percent registration fee violates the federal Internet Tax Freedom Act.

  • May 21, 2014

    Tax Fraudster's Legal Malpractice Suit Gets Nixed

    A New Jersey appeals court refused Wednesday to revive an admitted tax fraudster's suit against his one-time attorney for allegedly failing to negotiate a better plea agreement, finding that he failed to show a lapsed duty or damages from such a breach.

  • May 21, 2014

    Data Deal With Airbnb Gives NY Authorities Keys To Kingdom

    Airbnb Inc.'s agreement to share information with New York authorities guards the privacy of small-scale users but gives investigators sweeping power to identify enterprises that have systemically abused the online room-finder to dodge taxes and skirt real estate laws, legal experts said Wednesday.

  • May 21, 2014

    No Easy Win For IRS In Madoff Account Tax-Refund Dispute

    A U.S. Tax Court judge on Wednesday rejected the Internal Revenue Service’s attempt to net a quick win in a case over how the IRS should value a Bernie Madoff-managed account that allegedly wasn't worth what the account owner had reported to the agency.

  • May 21, 2014

    Illinois Tool Works Says IRS Mischaracterized $357M Loan

    Illinois Tool Works Inc., a major industrial components manufacturer, has lodged a protest in U.S. Tax Court disputing a $70.2 million income tax deficiency, saying the Internal Revenue Service mischaracterized a $356.8 million capital transfer from one of its foreign affiliates.

  • May 21, 2014

    5 Insights From Caterpillar Chief Legal Officer Jim Buda

    Where some companies may frown upon strong personal relationships between inside and outside counsel, we have created an environment that encourages those relationships. Many of our outside counsel have worked for Caterpillar for 20 or more years. Like us, they bleed yellow blood, says James Buda, chief legal officer of Caterpillar Inc.

  • May 21, 2014

    Pa. Gov. Won't Appeal Same-Sex Marriage Ruling

    Pennsylvania Gov. Tom Corbett announced Wednesday that he would not appeal a federal judge's decision to strike the state's ban on same-sex marriage, firmly establishing Pennsylvania as the 19th state in the country that gives gay and lesbian couples the right to wed.

  • May 21, 2014

    King & Spalding Atty, Others Named To IRS Tax Exempt Panel

    The Internal Revenue Service on Wednesday named 10 professionals, including King & Spalding LLP partner Floyd Newton III and Dilworth Paxton employee benefits chair Matthew Whitehorn, to its Advisory Committee on Tax Exempt and Government Entities.

  • May 21, 2014

    9th Circ. Affirms Tax-Dodging Atty's Conviction

    The Ninth Circuit on Tuesday upheld the conviction of a former Las Vegas attorney for income and employment tax evasion, saying it was clear he intentionally hid from the Internal Revenue Service a Montana bank account used to finance his law firm.

  • May 21, 2014

    RBC Ordered To Pay CFTC's Legal Bill In Trading Doc Row

    A New York federal judge on Tuesday ordered the Royal Bank of Canada to reimburse the U.S. Commodity Futures Trading Commission for nearly $40,000 in attorneys' fees for delaying the delivery of documents related to a suit accusing it of engaging in illegal, risk-free trading. 

  • May 21, 2014

    House Panel Subpoenas Justice Dept. In IRS Targeting Scandal

    A congressional committee has subpoenaed Justice Department officials to force their cooperation with an investigation into the Internal Revenue Service’s alleged targeting of conservative tax-exempt applicants, according to a Wednesday announcement.

  • May 21, 2014

    NY Doubles Sales Tax Exemption For Vending Machine Treats

    New York state will double its sales tax exemption for certain food and drink from vending machines, meaning treats that cost $1.50 or less will soon be tax-free, the state Department of Taxation and Finance said Wednesday.

  • May 21, 2014

    Mass. Gaming Regulators Seek To Amend State Casino Law

    The Massachusetts Gaming Commission on Tuesday asked state lawmakers to make two amendments to the state's gambling law in order to raise its tax reporting thresholds on casino and horse-race winnings to federal standards and to relax casino employment prohibitions against criminals.

  • May 21, 2014

    Female Powerbrokers Q&A: Blank Rome's Linsey Bozzelli

    There is still a great deal of reticence among men in the legal and business worlds to include women in their social activities, as they think there is an implied impropriety about the situation. This can make it challenging to find a way to develop business, says Linsey Bozzelli, vice chairwoman of Blank Rome LLP's corporate, M&A and securities practice group.

  • May 21, 2014

    Switzerland Will Focus On Allies In Tax Info Exchange

    The Swiss government on Wednesday said it will focus on inking tax information exchange agreements with countries it is close to economically and politically as it prepares to implement a global tax information framework promoted by the Organization for Economic Cooperation and Development.