An appeals court ruled on Wednesday that aluminum producer Alcoa Inc. is not entitled to a refund of taxes it could have saved if it had spent more money on disposing of toxic waste in the years between 1940-1987, instead of spending it on a cleanup in 1993.
A district court judge has put on hold the resentencing of former WalMart Stores Inc. executive Thomas Coughlin until the U.S. Supreme Court hands down a decision in a case that may change the way judges determine criminal sentences.
The Alaska legislature has voted in favor of increasing its tax on the oil industry, approving a bill that has received strong backing from the governor and stout opposition from major energy companies.
Federal prosecutors have filed a superseding indictment against former KPMG partner David Greenberg, a month after his trial on suspect tax shelters was postponed for a second time.
The Supreme Court heard oral arguments Wednesday in a dispute over when U.S. courts are allowed to review a decision reached in arbitration — a case Justice Stephen Breyer half-jokingly called the “case of the century.”
Overturning an earlier ruling by a district court and choosing between two conflicting precedents, an appellate court ruled Friday that early retirement payments made by the University of Pittsburgh to tenured professors could be taxed by the U.S. government under the Federal Insurance Contribution Act.
The U.S. Supreme Court will hear oral argument Monday in a case that will decide whether states can tax their own municipal bonds more favorably than out-of-state bonds.
Two class actions filed over the collapse of real estate investment companies Southwest Exchange Inc. and Qualified Exchange Services Inc., both of which were acquired by bankrupt breast implant firm MediCor, have been consolidated into a multidistrict litigation in the U.S. District Court for the District of Nevada.
New York prosecutors have accused two former executives of body armor manufacturer DHB Industries Inc. of a number of criminal charges, including securities fraud, insider trading, obstruction of justice and tax evasion.
A group of funds have launched a new lawsuit against accounting firms KPMG LLP and Grant Thornton International and law firms Proskauer Rose LLP and Sidley Austin LLP, accusing them of conspiring with others to lure them into a tax shelter that proved to be illegal.
The Iowa Department of Revenue has filed an objection to Dana Corp.'s disclosure statement, urging the bankruptcy court overseeing Dana's Chapter 11 proceedings not to approve the auto parts maker's disclosure statement unless it is amended to provide for interest on disputed tax claims.
New York prosecutors have revealed that they plan to seek a new indictment in a fraud case against four current and former Ernst & Young partners charged with allegedly designing fraudulent tax shelters.
A former trader faces up to five months in jail after pleading guilty Monday to conspiracy over his role in an alleged tax shelter scam developed by accounting firm KPMG.
Accounting firm Grant Thornton LLP has been dismissed as a defendant in a case against a group of law firms, auditors and financial advisors accused of hoodwinking a New Jersey couple into claiming illegal tax benefits.
A group of 92 law firms has sent a letter to the Internal Revenue Service, requesting an extra year for their clients to comply with new tax rules that affect a wide variety of executive deferred compensation plans at companies across the country.
A Moscow court on Friday reportedly upheld a 17 billion ruble ($667 million) back-tax claim against RussNeft, thus adding to the 3.4 billion rubles ($134 million) the Russian oil company was already forced to pay last month.
Former New York Assistant U.S. Attorney Lawrence Gerschwer, who helped the state bring down U.S. Foodservice Inc.'s marketing chief, Mark Kaiser, joined Morrison & Foerster LLP on Monday as a partner in the firm's Manhattan office.
Deutsche Bank has removed a lawsuit against it from state to federal court, where it now faces allegations that it fooled investors into participating in illegal tax fraud while charging exorbitant fees.
Two financial services firms have been asked by the Internal Revenue Service to release data in a probe on whether complex derivatives trades were designed to avoid taxes, according to published reports.
Federal prosecutors have wasted no time in appealing the dismissal of charges against 13 former KPMG LLP executives, who they accuse of creating illegal tax shelters to help wealthy clients avoid paying taxes.