A North Carolina waste oil company pled guilty to Toxic Substances Control Act violations and tax evasion in federal court Monday, and agreed to pay two companies $19 million in restitution related to its handling of polychlorinated biphenyl-contaminated oil.
Chinese authorities reportedly made new detailed accusations over British drugmaker GlaxoSmithKline PLC’s alleged bribery in the country, describing a lurid scheme involving travel agencies that helped transfer illicit payments to doctors and offered “sexual bribery” to GSK executives.
Foreign financial institutions, including banks and insurers, will have six months longer before requirements of a federal rule aimed at thwarting U.S. tax dodgers who hide their wealth overseas kicks in, the U.S. Department of Treasury said Friday.
Obviously, ability and hard work are key to being a rainmaker, but being able to spot the right niche is also extremely important. When it came to doing Latin American work in the 1980s for Merrill Lynch and certain other brokerage firms that were pioneers in the territory, I happened to be the only securities partner at our firm that said yes, says Michael Fitzgerald of Paul Hastings LLP.
The European Union's highest court ruled Thursday that EU countries can impose a tax on blank CDs and MP3 players to compensate copyright owners when those items are used to infringe copyright, turning aside arguments by Amazon.com Inc. that such levies are illegal.
Pennsylvania Attorney General Kathleen Kane announced Thursday that she would not defend the state’s law banning gay marriage against a legal challenged launched by the American Civil Liberties Union, citing her obligation to defend the constitutional rights of the state’s citizens.
Chinese officials said Thursday that U.K. drugmaker GlaxoSmithKline PLC executives had confessed to commercial bribery and tax-related crimes, allegedly paying physicians and hospitals to bolster drug sales.
Medical device firms on Monday latched onto comprehensive tax reform as perhaps their best shot at scrapping an Affordable Care Act tax on their sales, hoping to tuck the controversial issue into a broader package that could disguise or offset the nearly $30 billion cost of repeal.
The Fort Lauderdale, Fla. City Commission on Tuesday approved a $22.7 million special assessment tax against downtown property owners to help fund a 2.7-mile streetcar through the heart of the city's business district.
New York's expansive False Claims Act passed a big test last week when Sprint Nextel Corp., facing triple damages for an alleged $100 million tax-dodge, failed to cripple the retroactive reach of the tough new law in a development lawyers say will lure more corporate tax whistleblowers to the state.
The U.S. Attorney's Office objected Tuesday to the confirmation of mortgage insurance holding company PMI Group Inc.'s Chapter 11 plan, arguing that its main objective is to use $2.4 billion in tax attributes to avoid paying Uncle Sam.
A former Wal-Mart Stores Inc. worker has launched a putative class action in New York federal court accusing the company of hiring disabled workers through a state vocational rehab program to take advantage of tax credits but failing to adequately accommodate the workers it hired.
A group of more than 20 gay and lesbian Pennsylvanians filed a federal lawsuit in Harrisburg, Pa., on Tuesday challenging the constitutionality of a 1996 state law defining marriage as between one man and one woman, arguing that the measure deprived them of benefits afforded to heterosexual couples.
Ex-Kirkland & Ellis LLP bankruptcy partner Theodore L. Freedman should spend 24 to 30 months in prison on tax fraud charges for not reporting $2.4 million in income, the U.S. Department of Justice told a New York federal judge Friday.
A Pennsylvania appeals court ruled Friday that while the state could tax Verizon Pennsylvania Inc. for revenue received by providing telephone and directory assistance services to customers, the company was not required to pay taxes on one-time service fees.
A coalition of coal producers on Monday pushed the Federal Circuit to rescind the Interior Department's ability to charge reclamation fees on extracted coal, alleging the agency has undermined a constitutional ban on export taxes.
Dykema has launched its second office in Texas with an outpost in Austin that will be staffed by four senior attorneys specializing in tax, real estate, government and regulatory affairs and litigation, the firm announced Monday.
Switzerland's Federal Council on Wednesday unveiled a new framework to allow the country's banks to cooperate with U.S. authorities hoping to root out tax evaders, relying on existing law after legislation aimed at the same problem stalled.
A bill recently introduced in Congress would give a significant tax break to companies that manufacture patented products in the U.S., following the lead of the U.K., China and other countries that have enacted similar plans.
The U.S. Chamber of Commerce blasted the Internal Revenue Service's proposed $500,000 deduction cap for the compensation certain health insurance companies pay their employees, claiming in comments submitted Monday that the rule would make it more difficult for the companies to nab top talent and could inflate insurance rates.