Tax

  • July 31, 2017

    LA Loses 9th Circ. Bid To Revive Tax Liens Nixed In Ch. 11

    Los Angeles County suffered another defeat Monday when a Ninth Circuit panel refused to upend bankruptcy court rulings allowing a cable television equipment company in Chapter 11 proceedings to set aside tax liens on its personal property.

  • July 31, 2017

    The Laterals Audit: Tax Attorney Moves In July

    In this latest edition of the Laterals Audit, Norton Rose Fulbright continues its expansion after a tie-up with Chadbourne & Parke LLP, Holland & Knight LLP gains an international tax lawyer, and Schiff Hardin LLP snags an expert estate and trust planner.

  • July 31, 2017

    Amazon 3rd-Party Vendors May Waive Prior State Sales Taxes

    A committee within the Multistate Tax Commission, an intergovernmental tax agency, on Monday adopted a time-limited program that will allow Amazon.com Inc.’s third-party sellers to have prior state sales and use tax liabilities waived if they agree to collect and remit those taxes going forward.

  • July 31, 2017

    Mnuchin Blinks At ‘No Absolute’ Tax Cuts Pledge For Rich

    Treasury Secretary Steven Mnuchin appeared Monday to no longer be committed to his pledge for the wealthiest Americans to see “no absolute tax cut” thanks to eliminated deductions offsetting slashed rates, instead hedging that many, but not all, won’t be seeing a net tax break.

  • July 31, 2017

    Wholesaler Liable For Tax On Remote Sales: Mass. Justices

    A wholesale distributor of electronic goods lost its bid to abate sales tax in Massachusetts for products it billed to out-of-state retailers but delivered to in-state consumers, when Massachusetts' highest court ruled on Monday that the distributor had failed to show if the retailers were doing business in the commonwealth.

  • July 31, 2017

    NextEra Asks 11th Circ. To Revive $98M Nuke Waste Tax Suit

    Power giant NextEra has urged the Eleventh Circuit to revive its bid for nearly $98 million in tax refunds claimed for nuclear waste disposal costs, arguing that a lower court “ignored” the law that governs how nuclear plants are to be decommissioned.

  • July 28, 2017

    Ill. County Soda Tax Moves Forward After Suit Dismissed

    After a month of uncertainty, Cook County, home to Chicago, will see its tax on sugar-sweetened beverages move forward after a judge on Friday dismissed a business group’s constitutional challenge to the levy.

  • July 28, 2017

    7th Circ. Won't Rehear Tax Evader Sentence In $1.5M Case

    A Seventh Circuit panel declined Thursday to hear challenges to the sentence of man who evaded $1.5 million in taxes and allegedly defrauded credit card holders out of $1.2 million, agreeing with an Illinois federal court that his rehabilitative efforts were "exaggerated."

  • July 28, 2017

    Attys Predict Next Steps After ACA Repeal Failure

    The inability of Senate Republicans to approve Affordable Care Act repeal legislation has left observers searching for signs of whether bipartisan compromise is finally possible or if anti-ACA efforts will instead endure. Here’s what attorneys predict is coming next.

  • July 28, 2017

    Anti-Inversion Regs' Documentation Rules Delayed By A Year

    Documentation requirements under controversial Internal Revenue Service rules to curb corporate inversions are being delayed by 12 months in response to taxpayer concerns and in light of an ongoing review of the rules, according to an announcement from the U.S. Department of Treasury on Friday.

  • July 28, 2017

    Woman Gets 5 Years For $42M Tax Refund Fraud Scheme

    A D.C. federal judge has sentenced a woman to 63 months in prison for her role in a $42 million scheme to steal tax refunds from thousands of drug addicts, prisoners and the elderly, according to the U.S. Department of Justice.

  • July 28, 2017

    NJ Co. Income Must Add Foreign Subsidiaries' Investments

    A New Jersey-based parent company of businesses that manufacture equipment for the semiconductor industry can’t escape millions of dollars in tax deficiencies and penalties after the U.S. Tax Court ruled that investments made by its foreign subsidiaries should be included in its gross income.

  • July 28, 2017

    Sen. Reintroduces Bill To Bar IRS Rehiring Fired Workers

    Sen. Richard Burr, R-N.C., used a harsh report about the IRS rehiring former employees with prior conduct and performance concerns as a springboard Thursday to reintroduce a previously stalled bill that would prohibit the tax agency from rehiring anyone “removed for misconduct.”

  • July 28, 2017

    Ex-JPMorgan Trusts And Estates Pro Joins Norton Rose

    Norton Rose Fulbright has hired a JPMorgan & Co. trust and estates lawyer with experience handling international estate and tax planning for a variety of clients including CEOs of public and private companies, padding the estate practice the firm picked up with its combination with Chadbourne & Parke LLP.

  • July 28, 2017

    Taxation With Representation: Simpson, Paul, Sidley, Davis

    In this week’s Taxation With Representation, KKR inks a $2.8 billion deal for WebMD through a portfolio company, Michael Kors is taking over Jimmy Choo in a $1.35 billion deal, and global commodity trader Noble Group agrees to sell its U.S. gas and power business for $248 million.

  • July 27, 2017

    Senate Shoots Down 'Skinny Repeal' Of ACA

    Senate Republicans early Friday failed to pass legislation to repeal core provisions of the Affordable Care Act, the latest and most striking setback for the GOP’s tumultuous repeal effort.

  • July 27, 2017

    Seagate To Settle Phishing Scam With $5.75M In-Kind Deal

    Seagate Technologies LLC has agreed to a settlement that includes services valued at $5.75 million to end a proposed class action brought by workers who say that 12,000 employees and employee relatives suffered harm after a data phishing incident last year, according to a settlement proposal filed in California federal court Thursday.

  • July 27, 2017

    IRS Rehired Workers Accused Of Improperly Accessing Info

    The Internal Revenue Service has been rehiring former employees with prior conduct and performance concerns, some of whom had been investigated for unauthorized access to taxpayer information, according to a report released Thursday from a government watchdog.

  • July 27, 2017

    Pa. Senate Passes Bill To Tax Shale Gas, Online Vendors

    Pennsylvania’s state Senate on Thursday passed a funding measure that includes a 2 percent levy on natural gas drillers and would close a tax loophole for vendors who sell products on online marketplaces in an effort to resolve an impasse over how to fund the state’s $32 billion budget for the current fiscal year.

  • July 27, 2017

    Goodwin Procter Adds Ex-Simpson Thacher Tax Pro In Calif.

    Goodwin Procter LLP has brought on an ex-Simpson Thacher & Bartlett LLP tax pro as a partner in San Francisco, bolstering the firm’s offerings in federal income taxation with an eye toward mergers and acquisitions, investment fund formation and real estate transactions.

Expert Analysis

  • How Discovery Has Changed Under New Federal Rules

    Brandee Kowalzyk

    In December 2015, an amendment to Rule 26 of the Federal Rules of Civil Procedure was implemented with the intent of putting reasonable limits on civil discovery. The many subsequent cases that have applied the amended rules provide guideposts for litigants and practitioners, say Brandee Kowalzyk and Christopher Polston of Nelson Mullins LLP.

  • Weekly Column

    Innovating For Wise Juries: Pre-Voir Dire Questions

    Stephen Susman

    The simple practice of asking jurors important and substantive questions early can help make trial by jury a more reliable form of dispute resolution, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.

  • Solving The Privilege-Penalty Predicament: Part 2

    Brian Kittle

    The U.S. Tax Court in AD Investment held that partnerships that asserted penalty defenses waived attorney-client privilege. This ruling has had a major impact on tax compliance and tax litigation fairness. But a procedural solution can balance fairness to the IRS with fairness to the taxpayer, and fulfill Congress' intent to use penalties to encourage voluntary compliance, say attorneys with Mayer Brown LLP.

  • Opinion

    How Nevada Is Preparing For Blockchain Technology

    Ben Kieckhefer

    Nevada Senate Bill 398 helps make the state welcoming to companies using blockchain technology, and gives legal recognition to blockchain transactions. It also incorporates blockchain into the definition of electronic records, and prohibits interference from local governments, says Ben Kieckhefer, a member of the Nevada Senate and director of client relations for McDonald Carano LLP.

  • An Interview With Floyd Abrams

    Randy Maniloff

    It was a privilege to spend a half-hour on the phone with the nation's foremost First Amendment lawyer. Floyd Abrams and I discussed his career, his new book and what he sees in his free-speech crystal ball. And he was a very good sport when I asked if it is constitutionally protected to yell inside a movie theater: “Citizens United is a terrible decision and should be set on fire,” says Randy Maniloff of White and Williams LLP.

  • Bucking Tradition: NewLaw And The Coming Millennials

    Jill Dessalines

    Recent surveys show that law firms won't be able to rely on the flood of associates their business model demands as long as they require them to dedicate all day, most nights, every weekend and all holidays to firm business, says Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former assistant GC at McKesson Corp.

  • Solving The Privilege-Penalty Predicament: Part 1

    Brian Kittle

    In AD Investment, the U.S. Tax Court held that by asserting penalty defenses, two partnerships waived the attorney-client privilege. But the decision is at odds with the fundamental purposes of penalties and privilege, allows the IRS to litigate on “wits borrowed from its adversary,” and encourages it to use penalties as a bargaining chip, say attorneys with Mayer Brown LLP.

  • Monthly Column

    Gray Matters: We Feel, We Decide

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    Despite legal education training and the focus on logic and reason by the courts, lawyers address emotional issues on a daily basis — albeit more indirectly. But a shift to consciously and strategically addressing emotions gives us a powerful tool to help our clients reach faster, better decisions, say dispute resolution experts Robert Creo and Selina Shultz.

  • The UK's New Suspicious Activity Reporting Regime: Part 2

    Neil Gerrard

    Under the U.K. Criminal Finances Act 2017, the procedures for reporting suspicious financial activity have changed. Law firms, accounting firms and banks must now take on a more active role in identifying sources of information relevant to determining whether a money laundering offense has taken place, and must respond to information requests from other regulated firms, say attorneys with Dechert LLP.

  • The UK's New Suspicious Activity Reporting Regime: Part 1

    Neil Gerrard

    The U.K. Criminal Finances Act 2017 introduces major changes to the regime for suspicious activity reports. To minimize the risk of serious business disruption, financial services firms, accounting firms and law firms doing business in the U.K. must be prepared to take a more considered approach to analyzing whether a suspicious activity report is genuinely required, say attorneys with Dechert LLP.