Try our Advanced Search for more refined results
Tax
-
March 07, 2024
Jailed Reality Star Slammed For Raising 'Irrelevant' Evidence
Less than a month ahead of trial, a Georgia Department of Revenue employee suing imprisoned former reality television star Michael "Todd" Chrisley has asked a Georgia federal judge to stop Chrisley from bringing in evidence she says is "irrelevant" to the defamation case she brought against him.
-
March 07, 2024
Jurors In NY Trump Trial Will Be Anonymous Except To Parties
A New York state judge ruled Thursday that jurors in Donald Trump's criminal hush-money case will remain anonymous to the public, but said the former president, the Manhattan district attorney and their counsel and consultants would know the jurors' names and addresses.
-
March 07, 2024
Tax Tipster Who Reported Family Loses DC Circ. Award Fight
A man who reported his siblings for tax fraud and received a whistleblower award wasn't entitled to more money, the D.C. Circuit ruled, saying the IRS was correct in reducing the amount after concluding the man, a manager in the family business, likely participated in the fraud.
-
March 07, 2024
Feds Look To Bar Advice-Of-Counsel Defense From Tax Trial
Federal prosecutors have sought to prevent two attorneys and an insurance agent from relying on advice-of-counsel defenses in their upcoming tax fraud trial, telling a North Carolina federal judge the trio failed to give the court an adequate heads-up about their intended defense.
-
March 07, 2024
Minn. Tax Court Rejects Appeal Of Parking Lot's Classification
A Minnesota parking lot was correctly classified as commercial property by a local assessor, the state's tax court said, rejecting the owner's argument that it should be mostly classified as multifamily housing because of development plans for the site.
-
March 07, 2024
Biden Urges Higher Taxes On Wealthy Companies, Individuals
President Joe Biden, in his Thursday night State of the Union address, urged Congress to make the U.S. tax code fairer by enacting higher rates on wealthy corporations and individuals and extending tax relief to working families.
-
March 06, 2024
Software Execs Tried To Save Co. With Trust Taxes, Jury Told
Prosecutors and defense attorneys on Wednesday painted competing pictures of two former software executives at the start of their tax fraud trial in North Carolina, with the government characterizing the pair as liars and cheaters while the defense claimed they were merely trying to right the ship as their business floundered.
-
March 06, 2024
Ill. Appeals Court Revives Chicago Real Estate Tax Measure
A Chicago referendum seeking authorization to impose tiered real estate transfer tax rates can proceed, an Illinois state appeals court ruled Wednesday, reversing a Cook County Circuit Court decision that blocked the city from counting votes on the measure.
-
March 06, 2024
Startup Investors' Attys Want $1.5M In Fees On Disclosure Suit
Lawyers for a class of investors have asked a New York federal court to approve their attorney fees of $1.5 million for a $4.5 million settlement with a Chinese analytics startup over claims the company misrepresented its tax liability before its initial public offering.
-
March 06, 2024
Trump Mocks Hush Money Case As 'Deluded Fantasy'
Counsel for former President Donald Trump has branded the hush money charges against him as a "deluded fantasy," arguing that the Manhattan district attorney is framing the New York state court case as a conspiracy to undermine the 2016 election despite it being a "narrow business records case."
-
March 06, 2024
Minn. Tax Court OKs Value Of Home In Easement Dispute
A Minnesota owner of lakefront property failed to convince the state's tax court that obstructions he claimed hindered access to the property through an easement should result in a lower valuation for tax purposes.
-
March 06, 2024
Md. Tax Court OKs Valuing Boat Slips, Condo Units Separately
Two boat slips in a Maryland condominium development were correctly valued separately from the units for which they were exclusively reserved, the Maryland Tax Court ruled, affirming the methods of a local assessor.
-
March 05, 2024
DA Defends Cohen's Credibility In Trump Hush Money Case
The Manhattan district attorney has told a New York state judge presiding over Donald Trump's hush money case that the presidential candidate's former attorney Michael Cohen will tell the truth at trial, despite his past perjury.
-
March 05, 2024
Pillar 1 Would Have Cost US Gov't $1.4B In 2021, Study Says
U.S. tax revenue would have been reduced by $1.4 billion in 2021 under a proposed system to reallocate a share of tax payments to where large multinational corporations have customers but lack a physical presence, the Joint Committee on Taxation said Tuesday.
-
March 05, 2024
Biz Owner Gets 10 Months For Evading Tax On Foreign Income
The owner of a manufacturing company was sentenced in California federal court to 10 months in prison for avoiding taxes on almost $4.5 million in income by failing to report his foreign sales to the Internal Revenue Service, the U.S. Department of Justice said.
-
March 05, 2024
Netflix Says Service Isn't Taxable Tangible Property In Colo.
Netflix's streaming video service is not tangible personal property subject to sales tax because the company does not sell objects to its subscribers, Netflix told a Colorado court in its case to force a refund of sales taxes paid.
-
March 05, 2024
Judge's Side Job Invalidates Tax Rulings, Pa. Justices Told
Pennsylvania's constitution has barred judges from holding second jobs since 1776, counsel for a Delaware County hospital told the state Supreme Court during an oral argument Tuesday, so a senior judge who started collecting pay from a Philadelphia tax appeals board had effectively resigned and his rulings on the hospital's tax appeals were invalid.
-
March 05, 2024
Baker McKenzie Lands KPMG Tax Atty In Chicago
Baker McKenzie recently hired a new tax partner in Chicago who came from KPMG and has prior experience working at PwC.
-
March 05, 2024
Treasury Finalizes Direct Pay Rules For Energy Tax Credits
The U.S. Department of the Treasury on Tuesday finalized regulations governing direct payments of several clean energy tax credits provided by the Inflation Reduction Act but said it was still mulling how to address so-called chaining of payments and co-ownership arrangements.
-
March 04, 2024
Former DOJ Assistant Chief Joins Bird Marella
The assistant chief in the fraud section of the Department of Justice's Criminal Division joined Bird Marella Rhow Lincenberg Drooks & Nessim LLP, the firm announced Tuesday.
-
March 04, 2024
Corporate Transparency Act Unconstitutional, Ala. Judge Says
An Alabama federal judge has found that the Corporate Transparency Act is unconstitutional, dealing a blow to proponents of the anti-money laundering law, who anticipate the ruling will be appealed to the Eleventh Circuit.
-
March 04, 2024
Trump Blasts DA's Gag Order Motion In NY Hush Money Case
Donald Trump's attorneys on Monday slammed the Manhattan district attorney's request for a gag order in the hush money case against the former president, arguing it would be unconstitutional to silence the "leading candidate in the 2024 election" in the midst of the primary season.
-
March 04, 2024
Former IRS Commissioner Joins Chamberlain Hrdlicka
Former IRS Commissioner Charles "Chuck" Rettig joined Chamberlain Hrdlicka White Williams & Aughtry as a shareholder in Los Angeles, following in the footsteps of his former acting chief of staff, whom the firm hired last year.
-
March 04, 2024
Laptop Dustup Pits Steptoe & Johnson Against Bookkeepers
A Manhattan federal judge on Monday prodded Steptoe & Johnson PLLC to try to settle claims that it unlawfully exploited the contents of a Pennsylvania accounting and tax concern's laptop, but the law firm's counsel denied it had any such device.
-
March 04, 2024
Md. House OKs Local Property Tax Credit Options
Local governments in Maryland could award tax credits for certain properties that are used for housing homeless people or have undergone health and safety improvements under legislation passed by the state House of Delegates.
Expert Analysis
-
NFT Tax Guidance Shows IRS Interest In Crypto Enforcement
The IRS' first ever guidance addressing the federal income tax treatment of NFTs indicates the agency could take a potentially aggressive stance in enforcing U.S. tax laws in the NFT and crypto spaces, which could have a significant impact on the self-directed IRA market, say attorneys at BakerHostetler.
-
Short Message Data Challenges In E-Discovery
As short message platforms increasingly dominate work environments, lawyers face multiple programs, different communication styles and emoji in e-discovery, so they must consider new strategies to adapt their processes, says Cristin Traylor at Relativity.
-
Substantiation Is Key When Gifting Crypto To Charity
A recent Internal Revenue Service memorandum makes clear that the agency will require substantiation when gifting cryptocurrency to charity, even for relatively small amounts, so donors need to be aware of the important differences between crypto and typical cash donations, says Sheryl Morrison at Lathrop GPM.
-
Opinion
Thomas Report Is Final Straw — High Court Needs Ethics Code
As a recent report on Justice Clarence Thomas' ongoing conflicts of interest makes evident, Supreme Court justices should be subject to an enforceable and binding code of ethics — like all other federal judges — to maintain the credibility of the institution, says Erica Salmon Byrne at Ethisphere.
-
Mich. Statute Of Limitations Cases Carry Nationwide Impacts
The outcomes of Dine Brands v. Eubanks and Walt Disney v. Eubanks, currently working their way through the Michigan courts, are likely to affect how statutes of limitations in unclaimed property audits are calculated nationwide as well as within the state, given the widespread adoption of similar model provisions by many other states, say attorneys at McDermott.
-
Joint Representation Ethics Lessons From Ga. Electors Case
The Fulton County district attorney's recent motion to disqualify an attorney from representing her elector clients, claiming a nonconsentable conflict of interest, raises key questions about representing multiple clients related to the same conduct and highlights potential pitfalls, say Hilary Gerzhoy and Grace Wynn at HWG.
-
Lawyer Discernment Is Critical In The World Of AI
In light of growing practical concerns about risks and challenges posed by artificial intelligence, lawyers' experience with the skill of discernment will position them to help address new ethical and moral dilemmas and ensure that AI is developed and deployed in a way that benefits society as a whole, says Jennifer Gibbs at Zelle.
-
Senate Credit Suisse Report Puts Attention On Banks, Trusts
The Senate Finance Committee's recent finding that Credit Suisse violated a plea agreement struck over its role in enabling offshore tax evasion has important ramifications for banks and trusts, including how they onboard, document and report on transactions relevant to U.S. reporting requirements, say Will Barry and Ian Herbert at Miller & Chevalier.
-
Seeking IRS Accountability For Faulty Microcaptive Notice
Like the taxpayers in Standard Insurances v. U.S. seeking to expand earlier wins in microcaptive insurance cases that limit IRS use of improperly obtained information, others should consider ways to hold the agency accountable and provide incentive for it to follow the law going forward, says Joshua Smeltzer at Gray Reed.
-
Don't Forget Alumni Engagement When Merging Law Firms
Neglecting law firm alumni programs after a merger can sever the deep connections attorneys have with their former firms, but by combining good data management and creating new opportunities to reconnect, firms can make every member in their expanded network of colleagues feel valued, say Clare Roath and Erin Warner at Troutman Pepper.
-
Without Stronger Due Diligence, Attys Risk AML Regulation
Amid increasing pressure to mitigate money laundering and terrorism financing risks in gatekeeper professions, the legal industry will need to clarify and strengthen existing client due diligence measures — or risk the federal regulation attorneys have long sought to avoid, says Jeremy Glicksman at the Nassau County District Attorney’s Office.
-
Every Lawyer Can Act To Prevent Peer Suicide
Members of the legal industry can help prevent suicide among their colleagues, and better protect their own mental health, by learning the predictors and symptoms of depression among attorneys and knowing when and how to get practical aid to peers in crisis, says Joan Bibelhausen at Minnesota Lawyers Concerned for Lawyers.
-
Heed PCAOB's Warning On Proof-Of-Reserves Reports
While directed at investors, the Public Company Accounting Oversight Board's recent advisory on proof-of-reserves reports is a timely and stark warning to crypto entities, as well as their customers and accounting firms, to tread carefully in their reliance on these reports as proof of financial stability, say Patrick Bryan and Deborah Meshulam at DLA Piper.
-
Cos. Should Heed IRS Warnings About Employee Tax Credit
The IRS has recently been cautioning employers claiming the pandemic-related employee retention credit to carefully review all the eligibility requirements and be wary of relying on third-party advisers regarding their qualification for the credit, say Eric Pearson and Timothy Voigtman at Foley & Lardner.
-
Building On Successful Judicial Assignment Reform In Texas
Prompt action by the Judicial Conference could curtail judge shopping and improve the efficiency and procedural fairness of the federal courts by implementing random districtwide assignment of cases, which has recently proven successful in Texas patent litigation, says Dabney Carr at Troutman Pepper.