Tax

  • April 5, 2018

    IRS' $3.5M Settlement In Targeting Case Gets Preliminary OK

    An Ohio federal judge preliminarily approved on Wednesday a $3.5 million settlement in a class action alleging the Internal Revenue Service had illegally targeted conservative and tea party-affiliated groups applying for nonprofit status.

  • April 5, 2018

    5 Tips For Meeting Tax Bill’s Challenges On Executive Pay

    The new federal tax law alters the tax treatment of executive compensation, and companies could find themselves in hot water if they don’t adjust their payment plans and are later audited by the Internal Revenue Service. Here, Law360 shares tips for tax practitioners, employment benefit lawyers and their clients to comply with the changes.

  • April 5, 2018

    Swiss Seek Extradition Of Ex-HSBC Whistleblower From Spain

    Switzerland's Ministry of Justice on Thursday said it has formally asked Spain for the extradition of Herve Falciani, a former HSBC Holdings PLC employee who was arrested a day earlier by Spanish police acting on an international warrant.

  • April 4, 2018

    Pa. Atty Suspended After Copping To Tax Charge

    The Pennsylvania Supreme Court on Tuesday temporarily suspended an Allentown attorney from practicing in the state after he pled guilty to failing to pay federal taxes on behalf of his firm.

  • April 4, 2018

    Fla. Justices Won't Hear County's Tax Fight Over Condo Land

    The Florida Supreme Court declined Wednesday to take up Escambia County’s appeal of a ruling that said owners of condominium units in a Santa Rosa Island complex do not have to pay property taxes on the county-owned land underneath the condos that is leased to the association.

  • April 4, 2018

    Gov't Says Civil Suit Can't Kill Manafort's Criminal Charges

    The federal government on Wednesday urged a D.C. federal judge to toss a civil suit accusing Deputy Attorney General Rod Rosenstein of violating the Administrative Procedure Act when he appointed special counsel Robert Mueller to investigate links between the Trump campaign and the Russian government.

  • April 4, 2018

    China’s New Tax Policies Compete Directly Against US Law

    While the tariff war threatening international commerce between the U.S. and China commands increasing worldwide attention, China has more quietly been implementing tax policies that weaken the new U.S. tax law’s intended goal to boost domestic manufacturing and attract foreign investment.

  • April 4, 2018

    Unions Ask Businesses How They're Using Tax-Cut Savings

    Labor unions representing potato chip delivery drivers, airline agents and cable installers said Wednesday they’re pressing businesses they’re bargaining with, including AT&T, American Airlines subsidiaries and Frito-Lay/PepsiCo, to say how they’re using their savings under last year’s tax overhaul.

  • April 4, 2018

    Activist Challenges Newark Effort To Shield Amazon HQ Bid

    An open-government activist on Tuesday blasted Newark, New Jersey's attempt to avoid publicly releasing its bid to land Amazon’s second U.S. headquarters, rejecting its claims the disclosure would put the city at a competitive disadvantage when it has already provided some of the information to the media.

  • April 4, 2018

    Complexity Of NY Payroll Tax May Hamper Employer Adoption

    In the wake of New York lawmakers passing a budget that includes a major provision allowing employers to levy a payroll tax in lieu of income taxes, experts question whether employers will actually adopt it because of the complexity of the program. 

  • April 4, 2018

    Remote Taxation Up To Congress, Wayfair Amici Tell Justices

    The chairman of the U.S. House Judiciary Committee told the Supreme Court on Wednesday that Congress, and not the high court, should decide how and when states may compel remote sellers to collect and remit tax.

  • April 4, 2018

    CPA Group Wants Clarity On Offshore Transition Tax Mistakes

    The American Institute of Certified Public Accountants on Wednesday asked the Internal Revenue Service to clarify what taxpayers can do when they accidentally pay the wrong initial amount of tax on overseas earnings they bring back to the U.S., saying more information is needed.

  • April 4, 2018

    Woman Who Helped Bribe Top Diplomat Cops To FCPA Counts

    A woman who helped bribe a former top international diplomat with ties to convicted Chinese real estate billionaire Ng Lap Seng admitted in Manhattan federal court Wednesday to violating the Foreign Corrupt Practices Act and filing false tax returns.

  • April 4, 2018

    Challengers Of Trump’s '2-For-1' Order Seek To Revive Suit

    Public interest groups fighting President Donald Trump’s executive order to repeal two federal regulations for each new one issued have asked a D.C. federal judge to revive their lawsuit challenging the action.

  • April 3, 2018

    Ill. Court Hands Win To Gov't In IRS Lien Typo Row

    An Internal Revenue Service lien on an Illinois property is valid and enforceable despite a misspelling of the property owner’s name because the lien would have popped up in a reasonable database search, an Illinois federal judge said Tuesday.

  • April 3, 2018

    Feds Say Atty's Charitable Tax Scheme Cost Gov't $35M

    Federal authorities filed a civil lawsuit Tuesday against an attorney who lives in Florida for allegedly running a nationwide charitable-giving tax scheme that has cost the U.S. more than $35 million.

  • April 3, 2018

    AbbVie Says Suit Over Nixed $54B Shire Merger Should End

    Biopharmaceutical company AbbVie Inc. said Tuesday that an absence of specific claims should shut down a stockholder suit seeking damages for the company from directors in the wake of AbbVie's 2014 decision to drop a $54 billion merger with Shire Plc.

  • April 3, 2018

    Ex-Investment Banker Tapped As Treasury Deputy Secretary

    President Donald Trump has nominated Justin George Muzinich, a top aide to Treasury Secretary Steven Mnuchin and a former hedge fund manager, to become deputy secretary of the Treasury, according to a Monday announcement from the White House.

  • April 3, 2018

    $13M In Stock Options Not Taxable As Cash, High Court Told

    Subsidiaries of the Canadian National Railway Co. told the U.S. Supreme Court on Tuesday that transfers of $13.3 million of corporate stock options do not qualify as money remuneration that is taxable under the Railroad Retirement Tax Act because stock is not a generally accepted medium of exchange.

  • April 3, 2018

    Amazon's Public Search Occurs In Dark, Watchdog Contends

    Despite the worldwide public attention that Amazon.com Inc. attracted when it announced that it would solicit bids for a second headquarters, the bidding process itself has been cloaked in secrecy, according to a watchdog’s report released Tuesday.

Expert Analysis

  • How Settling With The Gov't Is Costlier Under New Tax Law

    Marvin Kirsner

    A provision in the Tax Cuts and Jobs Act greatly expands the scope of the disallowance of deductions for fines and penalties paid to government agencies. This will make it costlier for a company to settle claims of violation of laws and regulations brought by federal, state or local agencies, or even foreign governments, says Marvin Kirsner of Greenberg Traurig LLP.

  • 'IP Come Home!' How TCJA Incentivizes Asset Repatriation

    Robert Kiggins

    Two provisions of the Tax Cuts and Jobs Act aim to keep U.S. companies’ intangible assets from wandering the globe in search of shelter offshore. For affected taxpayers, one generally brings good news and the other brings bad, says Robert Kiggins of Culhane Meadows PLLC.

  • State And Local Tax Scoreboard: 2017 In Review

    State And Local Tax Scoreboard: 2017 Year In Review

    In this review of state and local tax decisions in 2017, Charles Capouet and Jessica Allen of Eversheds Sutherland LLP share observations on taxpayers’ outcomes in corporate income tax and sales and use tax cases, and look back at significant rulings such as the Pennsylvania Supreme Court’s decision in Nextel.

  • 10 Tips For Working With IT To Preserve Data

    John Tredennick

    Increasingly, when courts impose a “legal hold” they require legal supervision of the preservation process, meaning lawyers must rely heavily on information technology professionals to execute the mechanics. John Tredennick of Catalyst Repository Systems and Alon Israely of TotalDiscovery offer insights on how legal and IT can work together to make the process more efficient and fulfill the company’s legal obligations.

  • Obligors: Beware Of Bond Reissuance Triggers

    Robert Eidnier

    Public finance tax lawyers have begun to see an indirect effect of the Tax Cuts and Jobs Act — the triggering of automatic bank rate adjustments resulting from the drop in the corporate tax rate. Though many banks have been willing to forgo or reduce interest rate increases that would otherwise occur under loan documents, obligors should know that this seeming benefit can have significant tax consequences, says Robert Eidnier of Sq... (continued)

  • 6 Tips For Tribal Governments To Reduce Member Taxes

    Nicole Elliott

    Last December, President Donald Trump signed the Tax Cuts and Jobs Act, which included several provisions with real impacts on tribal governments and their members, including the reduction of individual tax rates and the treatment of the Kiddie Tax, say attorneys with Holland & Knight LLP.

  • The Fate Of The Physical Presence Nexus Standard

    John Paek

    The significance of the U.S. Supreme Court granting certiorari in South Dakota v. Wayfair cannot be understated and, frankly, it does not bode well for the continuing viability of the physical presence standard as established by the judiciary, considering that at least three of the current justices may have telegraphed their intentions in prior decisions, say John Paek and Drew Hemmings of Baker McKenzie.

  • Murphy’s Law: What Can Be, Will Be Taxed In New Jersey?

    Mitchell Newmark

    New Jersey's new governor is eager to change how his state taxes individuals and businesses, though similar proposals have been criticized or even defeated during past administrations. If he succeeds, Gov. Phil Murphy will significantly change the state's tax regime, say Mitchell Newmark and Eva Niedbala of Morrison & Foerster LLP. 

  • Protecting Privilege In Litigation Financing Negotiations

    Eric Robinson

    Multiple courts have held that discoverable material from negotiations with a litigation funder, when executed properly, can be attorney work product and immune from disclosure in the later litigation. The recent Acceleration Bay decision is indicative of what happens when difficult facts conflict with best practices, says Eric Robinson of Stevens & Lee PC.

  • How Tax Reform Affects Gov't Environmental Enforcement

    Timothy Webster

    The 2017 tax reform law casts into doubt the federal income tax deductibility of costs companies incur in connection with government settlements and court orders. This new provision applies to all settlements of any kind with any government entity, say Timothy Webster and Thomas Yancey of Sidley Austin LLP.