The process for federal tax reform got a long-awaited nudge on Thursday when President Donald Trump sent his nomination for a key tax policy adviser to the Senate for confirmation.
A Washington, D.C., federal judge on Wednesday dismissed suits from two Florida counties challenging the U.S. Department of Transportation's approval of $1.75 billion in tax-exempt bonds for a Miami-to-Orlando passenger railroad, saying the cases are moot.
The affordable housing community is anxiously awaiting clarity from Washington on tax reform, saying that lowering the corporate tax rate to 15 percent as President Donald Trump has proposed would have a devastating effect on developers, who depend mightily on tax credits to finance their projects.
The unexpected success of the 1986 tax reform package can be instructive for a new presidential administration with similar ambitions, but the architects and observers of the ‘86 effort fear that the existing political climate could make an already challenging task significantly harder, or even impossible.
The Republican leader of the Democratic-controlled Illinois Senate on Wednesday stymied an attempt by Senate Democrats to bring a so-called Grand Bargain package of spending cuts, new revenue and government reforms back to life three weeks before the end of the spring legislative session.
The Internal Revenue Service agreed Wednesday to drop a $56.5 million suit in Pennsylvania federal court against the former owner of a defunct gambling company after a federal judge ordered the parties last month to seek an agreement on an acceptable venue for the dispute.
An Australian borrowing and lending entity that operated within a complex group of companies targeted by Australian authorities for 25 years of tax avoidance asked a New York bankruptcy court on Tuesday for Chapter 15 protection, hoping to avoid obstructions in the process of winding down.
Prevezon Holdings Ltd. asked a New York federal court on Tuesday to allow it to use a questionnaire to ferret out “anti-Russian bias” in potential jurors in its upcoming trial on charges it benefited from a $230 million Russian tax fraud, saying “negative media attention” may affect the trial.
An Eighth Circuit panel on Tuesday affirmed a Tax Court ruling that the Employee Stock Ownership Plan of an orthopedic surgeon’s corporation — which employed only him and his wife — did not quality for a tax exemption because it failed to meet requirements.
A Dutch appeals court on Tuesday said Russia unlawfully bankrupted the once-prominent Yukos Oil Co., deciding that the bankruptcy cannot be recognized in the Netherlands, according to a statement from a foundation that seeks to protect company assets outside Russia.
A Court of Federal Claims judge on Tuesday denied a Gazprom PJSC unit’s bid for $16.8 million from the Defense Logistics Agency to compensate for taxes charged by the Kyrgyzstan government under a jet fuel supply contract, ruling that the taxes were mistaken but the company waited too long to tell the DLA.
One of the founding partners of Stetler & Rotert Ltd. has joined Schiff Hardin LLP as a partner in the litigation practice group, the firm announced on Wednesday.
The Internal Revenue Service will resume issuing rulings on tax questions regarding exchanges of stock for debt relief by controlled corporations amid an agency study of tax implications for certain spin-off transactions, the IRS announced Tuesday, saying the move was in the interest of sound tax administration.
A New Jersey bill that would tax online short-term rental marketplaces like Airbnb and FlipKey and provide the state with what lawmakers say is a much-needed revenue boost survived scrutiny by a state Assembly panel Wednesday.
A former PricewaterhouseCoopers attorney with experience litigating tax disputes on behalf of Exxon Corp. and Amoco Corp. has joined Steptoe & Johnson LLP as a partner, the firm said.
Mayer Brown LLP has added a three-lawyer team from Eversheds Sutherland to handle state and local tax, transactional, advisory and controversy matters across the United States.
A New York district judge considering federal attorneys’ bid to seize real estate and bank accounts linked to a $230 million Russian tax fraud gave the government permission Tuesday to refer to a massive bundle of evidence whose disqualification would have threatened the case's viability.
Mylan and the IRS have exchanged opening salvos in a $100 million tax fight relating to its transaction with Forest Laboratories Holdings Ltd. over the anti-hypertensive compound nebivolol, submitting dueling briefs to the U.S. Tax Court ahead of a May 22 trial in New York City.
Businesses must engage with the White House and Congress now if they want to influence the new regulatory agenda in Washington, D.C., instead of waiting for the government to propose and articulate new policy goals, according to a Tuesday publication from Crowell & Moring LLP.
A California beer distributor has agreed to pay about $14 million in tax deficiencies and penalties stemming from allegedly unreported capital gains, settling IRS claims that the company owed an additional $40.5 million.
Perhaps lost in the presidential post-election tumult was a report issued in late 2016 by an international body evaluating U.S. compliance with anti-money laundering and counter-terrorist financing standards. Considering repeated criticisms of the legal profession, the American Bar Association should seriously consider a new model legal ethics rule, says Kevin Shepherd of Venable LLP.
Commercial-scale solar power has consistently lagged behind utility-scale and residential solar, due to a lack of standardization and high transaction costs. Unlike the residential solar market, commercial-scale projects generally do not use standardized power purchase agreements or other project documents. Attorneys from McDermott Will & Emery LLP suggest six standard contract terms that developers should use to streamline power p... (continued)
In the final segment of his series on lateral recruitment, Howard Flack, a partner of Volta Talent Strategies LLC and former leader of the lateral partner recruiting team at Hogan Lovells, shares a number of factors law firms should consider when measuring lateral hire success.
In the second installment of this series on lateral recruiting, Howard Flack of Volta Talent Strategies LLC challenges law firms to ask themselves whether business strategies are determining lateral hires — or vice versa.
The surveys that report lateral partner hiring as more or less a 50-50 proposition keep being published, and yet the lateral partner market is as robust as ever. So, what are firms looking at to measure their success and justify the level of investment they continue to make in the lateral market? asks Howard Flack of Volta Talent Strategies LLC.
President Trump's draft budget proposes total defunding of the Legal Services Corporation. Yet leaders of over 160 of the nation's top law firms and 185 general counsel from leading corporations, who make their living at the intersection of business and law, make the case that destroying the LSC is bad for both, says Kevin Curnin of the Association of Pro Bono Counsel.
There remain institutional voices seeking to avoid a showdown over the nomination of Judge Neil Gorsuch, but for now it is likely that by the end of the week the nation will have a new member of the U.S. Supreme Court and the Senate minority will have lost another tool, say Richard Hertling and Kaitlyn McClure of Covington & Burling LLP.
Bear in mind that the internet seldom forgets and never forgives, and you are just one screen grab from a meme. A law firm's core messages and unique selling points must be clearly determined before embarking on a social media strategy, says Julie Bagdikian of The Pollack PR Marketing Group.
Cynthia Marlette, the Federal Energy Regulatory Commission's general counsel from 2001 to 2005 and from 2007 to 2009, reflects on how she addressed the job's many responsibilities, including advising the commission on laws and enforcement actions, developing policy, seeking consensus among commissioners, and overseeing defense of agency actions in court, as well as dealing with historic events like the California energy crisis.
What is the mood of the nation’s in-house lawyers? Aric Press — a partner at Bernero & Press LLC and former editor-in-chief of The American Lawyer — shares the findings of a recent survey of more than 800 in-house counsel.