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Tax

  • June 29, 2018

    Trump Says He Will Announce Supreme Court Nominee July 9

    President Donald Trump said Friday he will announce his nominee to take Justice Anthony Kennedy’s place on the U.S. Supreme Court on July 9, and that he has narrowed down the pool of candidates to “around” five people, including two women.

  • June 29, 2018

    Kennedy's Retirement: Legacy, Fallout & The Battle Ahead

    Justice Anthony M. Kennedy, the longest-serving active member of the U.S. Supreme Court, announced his retirement Wednesday after three decades on the high court. Here, Law360 analyzes his immense impact and what his departure means for the future of the court.

  • June 29, 2018

    Energy Co. Claims IRS Wrongly Assessed $421M In Taxes

    Entergy Corp. has filed suit in Louisiana federal court, claiming the Internal Revenue Service illegally and erroneously assessed $421 million in income taxes and interest on the energy company, and saying the assessment and a subsequent levy were not made within the statute of limitations.

  • June 29, 2018

    House Will Address International Tax Provisions, Brady Says

    The U.S. House of Representatives will address international-oriented provisions in the federal tax overhaul legislation, House Ways and Means Committee Chairman Kevin Brady, R-Texas, said Friday.

  • June 29, 2018

    Taxation With Representation: Jones Day, Pillsbury, Wachtell

    In this week’s Taxation with Representation, Conagra bought Pinnacle Foods for $10.9 billion, Synnex and Convergys merged in a $2.4 billion deal, Sirius and Easterly Acquisition combined to create a $2.2 billion public company, and Lime Rock closed a $1.9 billion acquisition fund.

  • June 28, 2018

    Calif. Gov. OKs Soda Tax Ban, Citing Beverage Biz Threat

    California Gov. Jerry Brown on Thursday signed a measure that blocks cities and counties from enacting taxes on soda and other sugar-filled drinks through 2030, citing the threat of a beverage industry ballot measure that went away with the swipe of his pen.

  • June 28, 2018

    Why The Defense Bar Celebrates Kennedy

    Associate Justice Anthony Kennedy spent his three decades on the high court making a name for himself as a champion of individual freedoms, but he also authored the majority opinion in Ashcroft v. Iqbal that changed corporate litigation so much, it is cited in nearly every dismissal bid and has become the bane of the plaintiffs bar.

  • June 28, 2018

    Mass. Gov. Signs Family Leave, Minimum Wage Bill

    Republican Massachusetts Gov. Charlie Baker on Thursday signed legislation that will gradually raise the state’s minimum wage, implement a family and medical leave policy and make a sales tax holiday permanent, according to his office.

  • June 28, 2018

    Sales Tax Decision Looms Large In Justice Kennedy's Legacy

    U.S. Supreme Court Justice Anthony Kennedy’s retirement announcement follows on the heels of his majority opinion on the taxation of out-of-state retailers — a monumental decision that reflects his longstanding support for balancing states’ sovereign rights against the federal government’s powers.

  • June 28, 2018

    Roberts Becomes True Power As 'Kennedy Court' Ends

    The retirement of Justice Anthony Kennedy means that Chief Justice John Roberts is now the U.S. Supreme Court's most important member not just in title but also in reality, empowering him to advance a muscular conservative agenda and perhaps broker deals with outgunned liberals.

  • June 28, 2018

    Citigroup Beats Econ Prof's $2.4B Suit Over Its Tax Practices

    A New York appellate court rejected an economics professor's request to revive his $2.4 billion state false claims against Citigroup Inc. on Thursday, putting to rest a long-running suit over the bank’s allegedly improper tax practices in the wake of the financial crisis and its federal bailout.

  • June 28, 2018

    11th Circ. Denies NextEra $90M Nuclear Disposal Fee Refund

    NextEra Energy Inc. cannot claim its routine disposal of nuclear fuel rods qualified as a decommissioning cost entitling it to $90 million in tax refunds from nuclear waste disposal fees the utility and plant operator paid the federal government, a panel of Eleventh Circuit judges ruled Thursday. 

  • June 28, 2018

    Feds Sue Torque Converter Maker Over Employment Taxes

    The government has slapped a maker of torque converters with a $1.5 million tax suit in California federal court, claiming that it failed to submit employment taxes to the Internal Revenue Service.

  • June 28, 2018

    Delay On Kennedy Replacement 'Ain't Going To Happen': GOP

    High-ranking Republicans on the Senate Judiciary Committee stood firm Thursday on keeping Majority Leader Mitch McConnell's promise to vote this fall on a replacement for retiring U.S. Supreme Court Justice Anthony Kennedy, with one saying Democrats' calls to wait until after the November midterms "ain't going to happen."

  • June 28, 2018

    IRS Commissioner Nominee Queried On Pass-Through Deduction

    Charles Rettig, nominee for Internal Revenue Service commissioner, was questioned Thursday by a member of the Senate Finance Committee about the 20 percent deduction for certain pass-through income included in last year’s federal tax overhaul legislation.

  • June 28, 2018

    Holland & Knight Brings On Former White & Case Int’l Tax Atty

    Holland & Knight LLP has strengthened its Mexico City office with a former White & Case LLP lawyer who has significant experience in international tax and estate tax planning.

  • June 28, 2018

    High Court To Examine Calif. Agency’s Immunity For 3rd Time

    The U.S. Supreme Court agreed to hear a case, for the third time, that centers around whether the California Franchise Tax Board has immunity against claims in Nevada that it committed fraud and violated a taxpayer’s privacy.

  • June 27, 2018

    From Iqbal To Citizens United: Kennedy's Biggest Decisions

    In his three decades on the high court, Justice Anthony Kennedy authored opinions that changed the rules for federal civil litigation, opened the floodgates for corporations and unions to fund campaign advertisements, and reshaped the legal landscape for women and same-sex couples.

  • June 27, 2018

    Life After Kennedy: 1 Big Question, 6 Judges To Watch

    President Donald Trump made it clear Wednesday that the world already knows the name of the person he is going to nominate to replace retiring Associate Justice Anthony M. Kennedy. The question is, which name will it be?

  • June 27, 2018

    'Goodbye, Tony!' Justices Bid Farewell To Kennedy

    As U.S. Supreme Court Justice Anthony Kennedy prepares to step down after three decades on the bench, his colleagues stepped forward to share stories about the man they know as “Tony,” describing a thoughtful coworker who built enduring friendships and made a lasting mark on the legal landscape.

Expert Analysis

  • Opinion

    BigLaw's Associate Salary Model Is A Relic Of A Bygone Era

    William Brewer

    Legal industry compensation practices are once again in the news as BigLaw firms continue to match the new high watermark of $190,000 for first-year associate salaries. The typical model of increasing associate salaries uniformly fails star associates, the firms they work for and, ultimately, the clients they serve, says William Brewer, managing partner of Brewer Attorneys & Counselors.

  • A Practical Method For Utility Property Interest Allocation

    Bradley Seltzer.jpg

    Certain utility companies are exempt from the 30 percent limitation on the deductibility of interest expenses under Internal Revenue Code Section 163(j), but the IRS has yet to define how companies involved in both exempt and nonexempt activities should allocate interest expenses on their tax returns. We suggest a practical approach consistent with congressional intent, say attorneys at Eversheds Sutherland LLP.

  • Fund Managers Face Tax Hike If Calif. Passes AB 2731

    Tim Gustafson

    Currently making its way through state assembly committees, California Assembly Bill 2731 would impose an additional 17 percent tax on interest income derived from investment management services. If passed, all asset and fund managers, including those located outside California, could face a significant tax increase, say Kelly Allen and Timothy Gustafson of Pillsbury Winthrop Shaw Pittman LLP.

  • #MeToo At Law Firms And What We Can Do About It

    Beth Schroeder.JPG

    While some may say it’s ironic, it’s also embarrassing and enraging that the very industry that offers anti-harassment training, policies and counsel now finds itself the subject of #MeToo headlines. The American Bar Association recommendation that will bring about the greatest change is the call to provide alternative methods for reporting violations, says Beth Schroeder, chair of Raines Feldman LLP's labor and employment group.

  • Tax Reform Adds Value To IRS Accounting Method Changes

    Ellen McElroy

    The IRS’ annual automatic accounting method changes for 2017 and the 2017/2018 corporate tax rate differential created by last year's tax overhaul together provide companies with a unique opportunity to benefit permanently from changes that would otherwise be temporary, say Ellen McElroy and Michael Resnick of Eversheds Sutherland LLP.

  • Streaming In Chicago? There's A Court-Approved Tax On That

    Todd Lard

    Labell v. City of Chicago is the main case contesting the Chicago amusement tax’s application to streaming services. Todd Lard and Charles Capouet of Eversheds Sutherland LLP analyze the Cook County Circuit Court decision and discuss the plaintiffs' options on appeal.

  • Opinion

    Oregon Should Reinstate Its Tax Haven Law

    Michael M.jpg

    Repeal of the Oregon tax haven provision was an unwarranted giveaway to profitable multinational corporations that are exploiting foreign tax havens to shift profits earned in Oregon beyond the tax reach of the state. The law should be reinstated, says Michael Mazerov of the Council on Budget and Policy Priorities.

  • Knowledge Lawyers Can Help Firms Stay Ahead Of The Curve

    Vanessa Pinto Villa

    In a profession notoriously averse to change, it should come as no surprise that there is skepticism about the value of having attorneys perform nonbillable tasks. But U.S. law firms have slowly begun to incorporate knowledge lawyers into their operations — and the trend is likely to continue, says Vanessa Pinto Villa of Hogan Lovells.

  • Are Whistleblower Appeal Filing Deadlines Jurisdictional?

    Michael DeBlis

    The District of Columbia Circuit Court of Appeals will soon hear argument concerning whether a filing deadline set forth in the Internal Revenue Code can limit the Tax Court's ability to review decisions of the IRS Whistleblower Office. The court's ruling will affect all whistleblower appeals because the D.C. Circuit is the only court where whistleblower cases can be reviewed, says Michael DeBlis of DeBlis Law.

  • Conn. Bets On 'Kill Quill' Camp With New Amazon Tax

    Kelly O'Donnell

    A Connecticut bill signed into law last week seeks to expand the conditions under which out-of-state retailers must collect and remit Connecticut sales tax. However, if the existing physical presence requirement, established by Quill v. North Dakota, is upheld by the U.S. Supreme Court in South Dakota v. Wayfair, the new reach of the Connecticut bill will almost certainly be considered unconstitutional, says Kelly O'Donnell of Pullman & Comley LLC.