A former Home Depot employee has pled guilty to criminal charges of participating with vendors and fellow employees in a five-year kickback scheme that elicited more than $2.5 million in secret payoffs not reported to the Internal Revenue Service.
A federal appeals court has ruled that Texaco Inc. does not have the right to recover $101 million in federal tax refunds on settlement payments the company made to the U.S. Department of Energy.
The U.S. Supreme Court ruled Monday against bankrupt Piccadilly Cafeterias Inc., saying that struggling companies cannot get out of paying transfer taxes on asset transfers that occur before a bankruptcy court approves a reorganization plan.
The U.S. Supreme Court has decided that states can tax their own municipal bonds more favorably than out-of-state bonds and that the practice does not violate the U.S. Constitution.
A U.S. House of Representatives panel on Thursday signed off on a plan to extend tax credits for wind power and other alternative energy sources.
A district judge has reversed a bankruptcy court's ruling that disallowed $15.6 million in claims lodged by Lone Star Air Partners LLC against Delta Airlines Inc., dealing Delta a blow in its dispute with Lone Star over leveraged lease transactions involving aircraft.
A former tax attorney for power company Dynegy Inc. who is appealing the six-year prison term he is currently serving for securities fraud has asked the judge overseeing his case to recuse himself, noting that the judge was friendly with a prosecutor who allegedly kept him from mounting a proper defense.
A tax law firm seeking the full hourly rate of reimbursement for travel expenses in the Chapter 11 case of energy technology provider Babcock & Wilcox Co. has been rebuffed by an appeals court.
A Delaware subsidiary of Lehman Brothers Holdings Inc. may soon be forced to write a $10 million check to the state government, after the U.S. Supreme Court refused to hear Lehman's appeal of a Delaware Superior Court ruling pinning the tax bill on the bank.
U.S. prosecutors have charged Mercury Interactive Corp.'s former chief financial officer with involvement in a scam to backdate stock option grants that last year caused the company to shell out $117 million to placate angry shareholders.
Constellation Energy and Maryland authorities have resolved their legal battle over consumer tax credits with a deal that will deliver $346 million in credits and $187 million in one-time rebates to the company's residential customers in Maryland.
Florida's Department of Revenue told the Supreme Court Wednesday that it should be able to tax court-approved Chapter 11 asset sales as long as a reorganization plan has not yet been confirmed.
Federal prosecutors have decided to pursue a new, separate fraud charge against one of the former KPMG International employees who already stands accused of engaging in a massive tax shelter fraud.
The European Commission took aim Wednesday at Italy for giving unlawful fiscal aid to privatized banks, hitting nine Italian banks with a total of €123 million ($191.5 million) in fines and referring the country to the European Court of Justice for failing to recover illegal state aid in another instance.
To help clients take advantage of the recent downturn in the capital markets, law firm Thacher Proffitt & Wood LLP has created a new group focused on distressed assets.
Accounting giant Ernst & Young LLP has billed Dura Automotive Systems Inc. nearly $1 million for a month's work as tax and risk adviser to the bankrupt auto parts maker.
Expanding the web of a criminal case that has already ensnared four Ernst & Young employees, the U.S. attorney's office for the Southern District of New York issued a new indictment Tuesday, adding more defendants and more charges related to an alleged scheme to develop and market fraudulent tax shelters.
Instituting a carbon dioxide tax is a more efficient way of controlling carbon dioxide emissions than cap-and-trade approaches, according to a new report from the U.S. Congressional Budget Office.
An assistant U.S. attorney who specializes in corruption and criminal tax matters will soon make the jump from the federal government to Pepper Hamilton LLP's white-collar and corporate investigations practice group.
The bankrupt New York Racing Association has objected to a $275,000 income tax claim brought by New York City, arguing that the city lacks the authority to levy the tax.