The Pennsylvania Supreme Court said Wednesday it will reconsider a $2.3 million class action judgment against a Pennsylvania law firm, in a case likely to determine the scope of a law firm's ability to charge fees to delinquent taxpayers when acting as third-party tax collectors.
The owners of a Brooklyn, N.Y., high-rise do not have to pay a $21.2 million tax improperly tied to the complex's exit from an affordable housing program, a New York Court of Appeals panel ruled Wednesday, reversing a lower court's order that the city-leveled tax should stand.
President Barack Obama and Republican presidential nominee Mitt Romney squared off Wednesday over taxes, job creation, deficit reduction, energy and regulation in the first presidential debate leading up to the November election, highlighted by a prolonged discussion on tax revenues.
A former Jenkens & Gilchrist PC office head who was convicted in a tax shelter case lost a bid Tuesday to interview jurors from that action, in which he was found guilty but then granted a new trial due to juror misconduct.
Roetzel & Andress LPA has nearly doubled the size of its Chicago workforce by scooping up six financial industry attorneys with wide-ranging experience in mergers and acquisitions, tax litigation, contract disputes, and personal injury lawsuits, the firm announced Monday.
Chevron Corp. sued the California county of Contra Costa and its property assessment office in state court Monday over taxes assessed on its refinery, as county and city officials investigate and deal with the aftermath of a recent fire at the site.
Gardere Wynne Sewell LLP on Monday added a tax partner from Locke Lord LLP to its Houston office, where he will focus on international and business tax, securities and finance for clients in oil field services, private equity and real estate, the firm announced.
The U.S. Judicial Panel on Multidistrict Litigation on Thursday declined a request to transfer and combine 10 suits lodged against mortgage giants Fannie Mae and Freddie Mac over allegedly dodging property-related excise taxes in real estate deals.
A former Internal Revenue Service official was arrested Thursday and accused of violating conflict of interest laws for taking a job with a large international bank while negotiating a $210 million tax settlement with the bank on behalf of the government.
The U.S. House of Representatives on Thursday asked the Second Circuit to overturn a ruling finding the federal Defense of Marriage Act unconstitutional, arguing that the courts should give the legislative process time to work.
The League of California Cities on Monday filed a suit in state court contesting a new law that authorizes the state to recover improperly calculated payments from and impose financial penalties on cities that are transitioning their dissolved redevelopment entities to successor agencies.
A former real estate partner with Cozen O'Connor was convicted Monday in Pennsylvania federal court of running a tax evasion scheme to defraud the firm out of $380,000 in client fees, the U.S. Department of Justice announced.
A Missouri federal court on Friday tossed H&R Block Tax Services LLC's lawsuit seeking coverage of a settlement with competitor Jackson Hewitt Tax Service Inc. over false advertising claims, giving deference to a competing suit its excess insurer had launched in New York.
The Oregon Department of Revenue demanded Thursday that Washington Mutual Inc. pony up $29 million for back taxes, rejecting the holding company’s claim that it never did business in the state and that the taxes are owed solely by its long-defunct banking affiliates.
A Pennsylvania federal judge on Thursday denied the Internal Revenue Service's bid to escape a Bayer Corp. suit alleging the company was unfairly denied nearly $65 million in tax credits for research expenses, ruling Bayer had not varied its claims after the suit was filed.
A federal judicial panel on Thursday appeared skeptical that consolidating a group of around 40 class action lawsuits alleging Fannie Mae and Freddie Mac failed to pay property transfer taxes related to foreclosures was necessary after a Michigan judge recently dismissed similar claims.
Attorneys and trade group officials from across the financial services and private fund industry were pumped by congressional leaders in a hearing Thursday about capital gains tax reform, with several arguing that capital gains should be taxed at a rate similar to income.
The U.S. House of Representatives on Thursday officially disapproved of a piece of federal rulemaking that encouraged states to apply for waivers to the welfare program's work requirements, two weeks after federal auditors ruled that the administration's memos and bulletins must be submitted to Congress.
The Sixth Circuit on Wednesday revived a putative Racketeer Influenced and Corrupt Organization Act class action accusing John Hancock Life Insurance Co., Edwards Angell Palmer & Dodge LLP and others of making misrepresentations to steer companies to an abusive tax shelter.
Texas Supreme Court justices on Tuesday pressed Nestle Inc. and the state to define the limits of the state constitution’s “equal and uniform” taxation clause and whether the margin tax imposed on businesses breaches those limits.