Tax

  • November 6, 2017

    EU's 'Dirty Money' Fight Under Fire After Tax Papers Leak

    A massive leak of data from an offshore law firm has exposed how little Europe has achieved in its fight against money laundering and corruption, campaigners said Monday after a trove of 13.4 million records was released.

  • November 3, 2017

    Tax Bill’s Pass-Through Protections Unlikely To Avert Gaming

    The House Republicans’ legislation to lower tax rates for pass-through businesses and corporations alike adds complex provisions to the tax code that could be exploited despite the guardrails proposed in the bill.

  • November 3, 2017

    ServiceMesh Buyer Takes Aim At Arrested Ex-CEO's Fees

    Citing the recent arrest of former ServiceMesh Inc. CEO Eric Pulier on tax fraud and other charges, the company's acquirer asked the Delaware Chancery Court on Friday to prune a Sept. 13 order requiring the cloud platform provider to pay Pulier’s legal fees.

  • November 3, 2017

    4 Energy Sector Takeaways From House Tax Reform Bill

    The potential impact of the sprawling U.S. House tax reform bill unveiled Thursday on the energy industry can be summed up in six words: fossil fuels win, renewable energy loses. Here are four energy-related takeaways from the House tax proposal.

  • November 3, 2017

    GOP Tax Cuts' Law Firm Exclusion Could Bring Pushback

    The Republican tax bill proposed Thursday offers some relief to most businesses set up as partnerships, with a capped 25 percent tax rate on certain income they generate, but a carveout excluding professional services firms will leave many law firm partners paying far more, potentially creating a good deal of pushback.

  • November 3, 2017

    35 States Decry Online Sales Tax Ban Before High Court

    Thirty-five states on Thursday pressured the U.S. Supreme Court to review a 25-year-old precedent blocking them from collecting sales and use tax from online retailers, arguing that the rule is costing them billions in revenue and infringing their sovereignty.

  • November 3, 2017

    Tax Planners Not Banking On An Estate Tax Repeal

    As House Republicans move forward with legislation that would increase the estate tax exemption and eventually repeal the levy altogether, practitioners are advising clients to hold off on planning for the changes due to turbulent political winds and the controversial nature of the tax.

  • November 3, 2017

    Feds Seek To Deny Entry To Russian Atty Who Met Trump Jr.

    Government lawyers told a New York federal judge Wednesday there’s no reason for a Russian businessman and his lawyer, who became embroiled in controversy after it was revealed she met with Donald Trump Jr. during the presidential campaign, to be granted entry to the U.S. for a money laundering and tax fraud case in which the government claims several Russian companies failed to make a $5.9 million settlement payment.

  • November 3, 2017

    Schumer Blasts GOP Tax Bill As ‘Betrayal’ Of Middle Class

    Slamming the House Republican tax bill as a "pure betrayal" of middle-class families and a tax cut for the ultra-rich, Senate Minority Leader Chuck Schumer, D-N.Y., said Friday that the more taxpayers learn about the proposal, the more they'll dislike it.

  • November 3, 2017

    GOP Tax Bill A Boon For Deal-Making, But Questions Remain

    The new tax bill released by House Republicans has been welcomed by mergers and acquisitions professionals pleased with the cutting of corporate tax rates, though in its current form the legislation leaves open many questions, including how the elimination of certain deductions might affect the private equity industry.

  • November 3, 2017

    IRS Issues 2nd Round Of Guidance On Large Business Audits

    The IRS on Friday released the second set of major focus areas it will target during audits of the largest corporations, adding to the list of issues the agency identified in January as part of an overhaul of its audit procedures.

  • November 3, 2017

    Manafort Partner Seeks Release From House Arrest

    The business partner and co-defendant of Paul Manafort, President Donald Trump's former campaign chairman, asked a D.C. federal judge on Thursday to release him from house arrest while he awaits trial on allegations of money laundering and undeclared foreign lobbying activities, saying he did not pose a flight risk or a threat to the community.

  • November 3, 2017

    Homeowners' Property Tax Suit Against Wash. Tribe Tossed

    A Washington federal judge on Thursday dismissed a suit brought by three nontribal couples challenging the tribe’s property tax, saying the couples cannot sue yet since the tax has not been enforced.

  • November 2, 2017

    Defense Attys In Mueller Cases Run The White Collar Gamut

    The lawyers representing defendants in the first cases brought by special counsel Robert Mueller range from an “aggressive” former government tax prosecutor known for “watershed” offshore tax cases to local operators in Chicago and New York.

  • November 2, 2017

    Tax Cuts Expected To Be A Hard Sell For Republicans

    House Republicans delivered on their promise to introduce legislation to slash tax rates for businesses, but opposition from traditional allies to the removal or limitation of benefits for middle-income taxpayers and small businesses means that significant amendments may be required for the bill’s passage.

  • November 2, 2017

    Mueller Privilege Win May Signal More Atty-Client Attacks

    Federal prosecutors' successful effort to pierce Paul Manafort's discussions with counsel about his years-late registration as a foreign agent demonstrates special counsel Robert Mueller's willingness to pry favorable evidence from lawyers for maximum advantage, sending a warning to other figures under scrutiny in Mueller's investigation, experts said.

  • November 2, 2017

    State AGs Rip HHS Opt-Outs For ACA Birth Control Mandate

    Four state attorneys general signed on Thursday to a lawsuit in California federal court challenging Trump administration regulations allowing employers to dodge Affordable Care Act requirements to provide coverage for contraception under exemptions for religious or moral objections.

  • November 2, 2017

    'Gilmore Girls' Actor's Kin Can't Revive CohnReznick Suit

    A New York state appellate court found Thursday that the late "Gilmore Girls" actor Edward Herrmann's family's suit against accounting firm CohnReznick LLP was still too vague, affirming its dismissal in a lower court.

  • November 2, 2017

    Insurers' Suit Against IRS Over Reporting Rules Nixed

    A Tennessee federal judge on Thursday dismissed insurers’ suit accusing the Internal Revenue Service of unfairly labeling them as tax scammers in a notice on so-called captive insurance companies.

  • November 2, 2017

    Legal Scholars Urge High Court To Undo Online Sales Tax Ban

    Over three dozen law professors and economists pressed the U.S. Supreme Court on Thursday to overturn its precedent that prevents states from collecting sales and use tax from online retailers located outside their borders, arguing that the 25-year-old rule is outdated in the wake of the e-commerce boom.

Expert Analysis

  • A BigLaw Ladies’ Guide To Becoming A 1st-Chair Trial Lawyer

    Sarah Rathke

    Judge Shira Scheindlin recently published an op-ed in The New York Times discussing the statistical truth that law firms have poor representation of female attorneys as first-chair trial lawyers. Backed by data collected by the New York State Bar Association, Judge Scheindlin’s observation is not merely anecdotal. But it doesn’t have to be inevitable, says Sarah Rathke, a partner and trial lawyer at Squire Patton Boggs LLP.

  • Section 409A And Deferred Compensation Arrangements

    Excerpt from Lexis Practice Advisor
    Sinead Kelly

    Section 409A of the Internal Revenue Code provides some special exemptions and exclusions for deferred compensation earned under certain foreign plans and otherwise by U.S. taxpayers who work or have previously worked outside the United States. In this article, Sinead Kelly and Narendra Acharya of Baker McKenzie outline what to know about these special rules.

  • Many Questions Unanswered After California's Tax Shakeup

    Huy Le

    In June, California overhauled its taxation system and created two new tax agencies. A bill signed into law last month further defined the roles and rules of these entities. But taxpayers with pending appeals still face a great deal of uncertainty about the new system, say Huy Le and Timothy Gustafson of Eversheds Sutherland.

  • 5 Tips To Ensure Proper Deposition Behavior

    Brian McDermott

    If conducted properly, depositions can be a powerful tool. At times, though, opposing counsel employ tactics to impede the examiner’s ability to obtain unfiltered, proper testimony from the deponent. By knowing and effectively using applicable rules and case law, however, deposing attorneys can take specific steps to combat these tactics, say attorneys with Ogletree Deakins Nash Smoak & Stewart PC.

  • Opinion

    A Better Way To Tax Foreign Profits Of US Companies

    Robert Pozen

    The United States' system for taxing foreign profits of U.S. companies is broken. Switching to a modified territorial system would allow U.S. multinationals to compete on an equal playing field in most countries, but would stop the predictable abuses of a pure territorial approach, says Robert Pozen of the MIT Sloan School of Management.

  • Opinion

    Like-Kind Exchanges: Crucial To Small Business Growth

    Brent Abrahm

    For more than 90 years, like-kind exchanges under Section 1031 of the Internal Revenue Code have been a key tool for small businesses and investors. But this powerful economic driver is now in real danger as Congress and the Trump administration ponder its possible elimination as part of tax reform, says Brent Abrahm of Accruit.

  • Series

    Judging A Book: Tunheim Reviews 'Miles Lord'

    Chief Judge John Tunheim

    Litigator Roberta Walburn’s rollicking new book, "Miles Lord: The Maverick Judge Who Brought Corporate America to Justice," is a really good read — a fascinating story about a life lived in the heat of battle and usually at the edge of what might have been considered appropriate for a federal judge, says Chief U.S. District Judge John Tunheim of the District of Minnesota.

  • Collaboration Between Company's Tax And IP Experts: Part 2

    Rebel Curd

    Early and effective communication among the tax, intellectual property and legal teams within a multinational enterprise can help mitigate risk if the company’s intercompany licenses, transfer prices and/or transfer pricing documentation are produced in subsequent IP litigation, say consultants at Charles River Associates.

  • Technology Assisted Review Can Work For Small Cases

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    For as long as e-discovery lawyers have been using technology assisted review, a belief has persisted that it cannot be used economically or effectively in small cases. But TAR can be highly effective in small cases, typically reducing the time and cost of a review project by 60 to 80 percent, say John Tredennick, Thomas Gricks III and Andrew Bye of Catalyst Repository Systems LLC.

  • The Push For Tax Reform: Understanding The GOP Framework

    Jeffrey Paravano

    With the release of a Republican budget framework reflecting the shared view of the White House and GOP congressional leaders, it seems likely that comprehensive tax reform may pass in 2017. But the window will not be open long, say Jeffrey Paravano and Paul Schmidt of BakerHostetler.