My mentors have predominantly been men, and I never really thought about that before, but I do believe the emphasis on having same-gender role models may be misplaced, says Laurie Strauch Weiss, head of Orrick Herrington & Sutcliffe LLP's mass torts and product liability practice.
Weatherford International Ltd. and several executives have agreed to pay $52.5 million to settle an investor class action over tax miscalculations by the energy equipment company that overstated earnings by about $500 million, plaintiffs' attorneys told a New York federal judge Wednesday.
The Massachusetts Gaming Commission unanimously voted Wednesday to ask the state legislature to consider raising a current tax reporting threshold on casino and horse-race winnings from $600 to federal tiered thresholds.
Immediately following President Barack Obama’s vocal support of tax reform in Tuesday’s State of the Union speech, Sen. Sherrod Brown, D-Ohio, called on Congress to pass the Working Families Tax Relief Act of 2013, which would expand eligibility for tax credits focused on individuals.
Days before the Super Bowl, U.S. Sen. Angus King, I-Maine, announced Wednesday that he was throwing his support behind legislation that would prevent the National Football League and other professional sports leagues from continuing to qualify their league offices as tax-exempt organizations.
The Internal Revenue Service needs to review computer routines it uses to flag potentially fraudulent Affordable Care Act credits that are claimed by tax-exempt organizations, says a report released Wednesday by the Treasury Inspector General for Tax Administration.
After revealing pieces of his “It's Your Money Tax Cut Budget” over the past week, Florida Gov. Rick Scott on Wednesday unveiled his entire proposed 2014-15 budget that aims to cut taxes by $500 million, reduce the state's debt and eliminate government waste.
Ballard Spahr LLP moved forward with its expansion by adding to its Atlanta office McKenna Long & Aldridge LLP’s former tax practice head, who will bolster the firm's tax and mergers & acquisitions practices, the firm announced Tuesday.
Supporters of a California ballot proposal that would impose a 1 percent property tax on all vehicles registered to the state have dropped the effort, saying Tuesday they've encountered difficulty in getting the public to back the measure.
Since passage of the Economic Growth and Tax Relief Reconciliation Act the stage has been set for constant adjustments with respect to gift, estate and generation-skipping transfer taxes. Given the frequency of changes to the rates and laws we are always conscious that there will be additional changes ahead, says Abby Feinman, head of Katten Muchin Rosenman LLP's Los Angeles trusts and estates practice.
The Oregon Tax Court on Tuesday closed the door on another potential challenge to Portland's arts tax, ruling a lawsuit renewing the argument that the levy violates the state's prohibition on poll taxes belongs in a local circuit court that has already shot down that claim.
The Internal Revenue Service released proposed regulations Wednesday clarifying ambiguities in its treatment of disguised property sales between individuals in partnerships.
Italy this month became the 19th nation to join an information exchange to stop people from hiding their money in overseas banks, but government officials fear that digital currencies like Bitcoin could let tax evaders circumnavigate the banks altogether. This is Part 2 of a two-part series on the taxation of Bitcoin and other digital currencies. Part 1 was published Tuesday.
The U.S. House of Representatives on Wednesday approved an estimated $956 billion farm bill, after congressional negotiators earlier this week agreed to a compromise that cuts food stamp funding, conservation programs and direct farm subsidies while extending federal funding for communities with large tracts of untaxable federal lands.
The British Virgin Islands, considered one of the world's top tax havens, received more direct foreign investment in 2013 than Canada, Brazil and a host of other nations while cross-border mergers and acquisitions remained sluggish, according to a report released Tuesday by the United Nations.
The U.S. Tax Court ruled Tuesday that imprudent business decisions are not an excuse for failure to pay back-due taxes, slapping a couple that owns a prepaid wireless communication company with almost $800,000 in taxes plus interest.
As I approached the podium to speak for the first time, the judge said, "It’s your turn to argue, sweetie!” The whole courtroom froze. I nicely informed him that “there is only one person in my life who is allowed to call me 'sweetie,' and unfortunately he isn’t in the courtroom right now!” says Joanne Gray, chairwoman of Goodwin Procter LLP's specialty litigation group and product liability and mass torts practice.
Be aware of cultural biases, but be yourself. Consistent professionalism, legal ability and the use of good-hearted humor can conquer sexism, says Barbara Duncombe, a partner with Taft Stettinius & Hollister LLP.
President Barack Obama in his State of the Union address Tuesday outlined proposals ranging from employment, trade, health and patent reforms to a tax overhaul including the elimination of fossil fuel subsidies, warning he would use his executive power to advance many of the measures if Congress doesn’t.
An accountant who says his attorneys at Dewey & LeBoeuf LLP gave him bad legal advice about a tax shelter is seeking retribution for the $5.8 million the Internal Revenue Service is forcing him to pay for misreporting his investment, according to an adversary proceeding filed in New York bankruptcy court Tuesday.
The new federal tax law was expected to change how deals get structured, and four months after its enactment, it is becoming clear how the legislation is having an impact on negotiations and tax planning strategies.