Blank Rome LLP this week announced the addition of a pair of tax controversy attorneys in its New York office who come from Withers Bergman LLP and are looking to help build the firm's ability to handle tax examinations, litigation and more.
The Pennsylvania Superior Court on Thursday ordered the resentencing of a former defense attorney for convicted child sexual abuser Jerry Sandusky who is serving up to 18 years in a Pennsylvania state prison after pleading guilty to stealing client funds to feed a gambling addiction.
The process for federal tax reform got a long-awaited nudge on Thursday when President Donald Trump sent his nomination for a key tax policy adviser to the Senate for confirmation.
A Washington, D.C., federal judge on Wednesday dismissed suits from two Florida counties challenging the U.S. Department of Transportation's approval of $1.75 billion in tax-exempt bonds for a Miami-to-Orlando passenger railroad, saying the cases are moot.
The affordable housing community is anxiously awaiting clarity from Washington on tax reform, saying that lowering the corporate tax rate to 15 percent as President Donald Trump has proposed would have a devastating effect on developers, who depend mightily on tax credits to finance their projects.
The unexpected success of the 1986 tax reform package can be instructive for a new presidential administration with similar ambitions, but the architects and observers of the ‘86 effort fear that the existing political climate could make an already challenging task significantly harder, or even impossible.
The Republican leader of the Democratic-controlled Illinois Senate on Wednesday stymied an attempt by Senate Democrats to bring a so-called Grand Bargain package of spending cuts, new revenue and government reforms back to life three weeks before the end of the spring legislative session.
The Internal Revenue Service agreed Wednesday to drop a $56.5 million suit in Pennsylvania federal court against the former owner of a defunct gambling company after a federal judge ordered the parties last month to seek an agreement on an acceptable venue for the dispute.
An Australian borrowing and lending entity that operated within a complex group of companies targeted by Australian authorities for 25 years of tax avoidance asked a New York bankruptcy court on Tuesday for Chapter 15 protection, hoping to avoid obstructions in the process of winding down.
Prevezon Holdings Ltd. asked a New York federal court on Tuesday to allow it to use a questionnaire to ferret out “anti-Russian bias” in potential jurors in its upcoming trial on charges it benefited from a $230 million Russian tax fraud, saying “negative media attention” may affect the trial.
An Eighth Circuit panel on Tuesday affirmed a Tax Court ruling that the Employee Stock Ownership Plan of an orthopedic surgeon’s corporation — which employed only him and his wife — did not quality for a tax exemption because it failed to meet requirements.
A Dutch appeals court on Tuesday said Russia unlawfully bankrupted the once-prominent Yukos Oil Co., deciding that the bankruptcy cannot be recognized in the Netherlands, according to a statement from a foundation that seeks to protect company assets outside Russia.
A Court of Federal Claims judge on Tuesday denied a Gazprom PJSC unit’s bid for $16.8 million from the Defense Logistics Agency to compensate for taxes charged by the Kyrgyzstan government under a jet fuel supply contract, ruling that the taxes were mistaken but the company waited too long to tell the DLA.
One of the founding partners of Stetler & Rotert Ltd. has joined Schiff Hardin LLP as a partner in the litigation practice group, the firm announced on Wednesday.
The Internal Revenue Service will resume issuing rulings on tax questions regarding exchanges of stock for debt relief by controlled corporations amid an agency study of tax implications for certain spin-off transactions, the IRS announced Tuesday, saying the move was in the interest of sound tax administration.
A New Jersey bill that would tax online short-term rental marketplaces like Airbnb and FlipKey and provide the state with what lawmakers say is a much-needed revenue boost survived scrutiny by a state Assembly panel Wednesday.
A former PricewaterhouseCoopers attorney with experience litigating tax disputes on behalf of Exxon Corp. and Amoco Corp. has joined Steptoe & Johnson LLP as a partner, the firm said.
Mayer Brown LLP has added a three-lawyer team from Eversheds Sutherland to handle state and local tax, transactional, advisory and controversy matters across the United States.
A New York district judge considering federal attorneys’ bid to seize real estate and bank accounts linked to a $230 million Russian tax fraud gave the government permission Tuesday to refer to a massive bundle of evidence whose disqualification would have threatened the case's viability.
Mylan and the IRS have exchanged opening salvos in a $100 million tax fight relating to its transaction with Forest Laboratories Holdings Ltd. over the anti-hypertensive compound nebivolol, submitting dueling briefs to the U.S. Tax Court ahead of a May 22 trial in New York City.
Family offices and other investment managers are increasingly “going direct,” whether on a solo basis, by pooling resources in networks with other similar investors, or by co-investing alongside private equity firms. While direct deals present significant opportunities for investors, they also pose specialized challenges, say Nicholas Tsafos and Jeffrey Chazen of EisnerAmper LLP.
California now has a Democratic governor and Democrats control a supermajority in both houses, but there are no split roll or other substantive property tax reform proposals. This may be because many consider Proposition 13 to be a metaphorical "third rail," potentially ending the political career of anyone who dares to touch it, says Bradley Marsh of Greenberg Traurig LLP.
In the first installment of a series featuring commentary from tax experts on the prospects for major reform of the federal tax system, Charlene Luke, editor-in-chief of the Florida Tax Review, discusses potential advantages of a system based on consumption taxes, and looks at how aspects of the House GOP tax reform blueprint could shift the tax system toward a consumption-based model.
Suffering from law firm ranking fatigue? Bewildered by the methodologies? If so, you're in good company. Alan Morrison, associate dean for public interest and public service law at George Washington University Law School, wonders just how far law firm ranking efforts may go.
New York and Illinois have approved programs providing nuclear power plants with monetary credits for generating electricity without emitting carbon dioxide. Opponents have sued in federal court to nullify the programs. Although the lawsuits are narrowly targeted, an unfortunate consequence could be rulings that also annul renewable portfolio standards and renewable energy credits, says Gordon Coffee of Winston & Strawn LLP.
Proposed legislation introduced in the U.S. House of Representatives, if passed, will directly impact the life settlement industry by revamping the Internal Revenue Code's rules and requirements related to the sale of life insurance policies, say Brian Casey and Thomas Sherman of Locke Lord LLP.
The IRS has two choices for taxpayers to voluntarily disclose and pay taxes on offshore assets: a more permissive but more expensive and time-consuming compliance program, and a second option with lower penalties and easier filing, but stricter qualifications. With no definitive guidance, this choice is a risky gamble, say Kaitlyn Gardner and Christopher Karachale of Hanson Bridgett LLP.
Most people have never had an opportunity to personally take part in a legal case that directly challenges laws or policies they don’t agree with. Now that crowdfunding is available for legal cases, people can engage directly with legal change in the community and be a check on the powerful, says Julia Salasky, CEO of CrowdJustice.
The Delaware Supreme Court, in its recent opinion in Brinckerhoff v. Enbridge Energy, reaffirmed the well-established general approach of the Delaware courts to master limited partnership cases, including that “safe harbors,” if followed, will immunize conflicted transactions from judicial review, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.
Perhaps lost in the presidential post-election tumult was a report issued in late 2016 by an international body evaluating U.S. compliance with anti-money laundering and counter-terrorist financing standards. Considering repeated criticisms of the legal profession, the American Bar Association should seriously consider a new model legal ethics rule, says Kevin Shepherd of Venable LLP.