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Tax

  • November 20, 2013

    Female Powerbrokers Q&A: Morgan Lewis' Jami McKeon

    In some ways it is easier to be a woman at the firm because you can chart your own course. At the same time, you do feel a responsibility to forge a path for people coming up behind you, and that is an added challenge for women leaders given how far the legal profession has to go, says Jami Wintz McKeon, chairwoman-elect of Morgan Lewis & Bockius LLP.

  • November 20, 2013

    Female Powerbrokers Q&A: Sidley's Sara Gourley

    Today, most people are smart enough not to be overtly sexist, but I worry about the unconscious bias that may affect young women in the assignment of work or the evaluation of their work, says Sara Gourley, leader of Sidley Austin LLP's products liability and mass torts practice and a member of the firm's executive committee.

  • November 19, 2013

    Pa. House Reverses Course On $2B In Transportation Funding

    The third time indeed proved to be the charm as legislators in the Pennsylvania House of Representatives late Tuesday adopted a $2.3 billion transportation funding package — which was backed by Gov. Tom Corbett and includes a provision uncapping the state's wholesale gas tax  — after twice rejecting the measure during floor votes on Monday. 

  • November 19, 2013

    Taxation With Representation: Tax Counsel On The Deal

    Tax attorneys don't always get the most attention, but they're often among the most important players in any business deal. In this week's inaugural edition of Taxation With Representation: Tax Counsel On The Deal, tax attorneys are given their just place in the news.

  • November 19, 2013

    IRS Bungles Return On Investment Calculations: Watchdog

    The Internal Revenue Service's use of return on investment data to allocate tax enforcement resources is inaccurate and often underutilized, according to an IRS watchdog report issued Tuesday.

  • November 19, 2013

    Employers On Alert As US, NY Regulators Join Forces

    A federal-state agreement to hunt for New York businesses that unlawfully label workers as independent contractors comes amid a profusion of new state laws targeting the cost-saving practice, prompting lawyers on Tuesday to caution clients to back up or revisit their classifications to avoid a host of civil, tax and even criminal liabilities.

  • November 19, 2013

    Tax Court Denies Stamp Cost Deduction To Cigarette Retailers

    The U.S. Tax Court ruled Tuesday that a New York-licensed wholesale cigarette dealer doesn't qualify for a federal exemption that shields small resellers from capitalizing certain costs because the company artificially deflated its gross revenue by subtracting New York cigarette taxes from its sales.

  • November 19, 2013

    Sen. Baucus Unveils Plan To Overhaul Corporate Tax System

    Senate Finance Committee Chairman Max Baucus on Tuesday unveiled a package of reforms aimed at overhauling the nation's corporate tax system, though chances are slim that the plan, which delves into the murky world of international taxation, will pass a partisan Congress, experts said.

  • November 19, 2013

    Bosch Forced Workers To Hand Over Tax Refunds, Suit Says

    An Indian citizen working for Robert Bosch GmbH’s American subsidiary claims the company threatened to fire him and send him back to India unless he paid Bosch his state and federal tax refunds, according to a putative class action filed Tuesday in California federal court.

  • November 19, 2013

    FATCA Compliance Uncertainties Keep Lawyers Up At Night

    With the Foreign Account Tax Compliance Act taking full effect in July, investors across the globe are concerned about the U.S. government’s silence on whether it will seek criminal prosecution for violators and how the Internal Revenue Service plans to regulate foreign-to-foreign transactions.

  • November 19, 2013

    2nd Sugary Drink Tax Floated In San Francisco

    San Francisco now has two proposals to tax sugary drinks in the city after Supervisor Eric Mar on Tuesday unveiled a proposal strikingly similar to one released in late October by Supervisor Scott Wiener.

  • November 19, 2013

    NYC Cig Tax Law Won't Have Teeth, Attys Say

    Thanks to legislation signed Tuesday by New York City Mayor Michael Bloomberg, cigarette dealers may soon face thousands of dollars in fines for selling cigarettes without legal tax stamps or for less than $10.50 per pack, but industry insiders question whether increased enforcement will be able to stamp out an already-strong tobacco black market fueled by excessive excise taxes.

  • November 19, 2013

    Wells Fargo Says It Deserves $164M Tax Refund

    Wells Fargo & Co. told a Minnesota federal judge Monday that it was wrongly denied a quick win in its bid to receive a $164 million tax refund stemming from a purported sham transaction, saying the special master ignored settled law in sending the case to a jury.

  • November 19, 2013

    Gov't Report Shows Most Vendors Won't Be Hit By Internet Tax

    As Congress continues to weigh bills that would allow for states to tax more Internet sales, a government report released Tuesday says that a $1 million threshold to define which businesses are large enough to collect sales tax would exempt all but 0.1 percent of retailers from collecting the levy.

  • November 19, 2013

    DOJ Charges 6 Investors In NJ Tax Lien Bid-Rigging Scheme

    The U.S. Department of Justice brought formal charges Tuesday against six investors for their alleged roles in a conspiracy to manipulate the bidding process for tax lien auctions conducted by New Jersey municipalities, bringing the number of charged entities in an overarching DOJ probe to 20.

  • November 19, 2013

    Businesses Prod US House For E-Commerce Sales Tax Bill

    A group of small business owners on Monday prodded the chair of the U.S. House Judiciary Committee to take action before the end of the year on a proposal that would allow local governments to collect taxes on Internet sales.

  • November 19, 2013

    Conn. Exceeds $175M In Record Tax Amnesty Collection

    Connecticut's latest tax amnesty program has collected more than $175 million from taxpayers, more than five times what the state expected, notching the most successful tax amnesty program in Connecticut history, the state said Monday. 

  • November 19, 2013

    Q&A With Jones Day's Ray Wiacek

    Interesting and challenging come in many forms over a long career. I was at a coal facility making “synfuels” when the people in the blue windbreakers with “FBI” on the back showed up. They served a warrant on the client, yellow-taped the trailer serving as an office, and began removing all files. That was “interesting,” says Ray Wiacek, chairman of Jones Day's global tax practice.

  • November 19, 2013

    Bilzin Sumberg Settles $50M Property Tax Malpractice Suit

    A Miami Beach private beach club settled a malpractice suit accusing Bilzin Sumberg Baena Price & Axelrod LLP of costing the club $50 million in a botched attempt to reduce its property taxes, the parties said Tuesday.

  • November 19, 2013

    Female Powerbrokers Q&A: Miller Canfield's Megan Norris

    There are plenty of male attorneys who do not bill 1,800 hours a year but are very highly compensated because they bring in business or have recognized valuable expertise, but when female attorneys do not hit such hours targets it is blamed on "priorities," says Megan Norris, chairwoman of Miller Canfield PLC's managing directors and leader of the firm's employment group.