The U.S. Supreme Court on Monday said it will not review a Pennsylvania appeals court decision finding that a 1932 tax sale of subsurface mineral rights encompassed the sale of oil and gas rights, keeping in place a win for the exploration company Range Resources.
While a new program created under the federal tax overhaul that aims to provide tax benefits to investors for building and creating jobs in low-income areas is expected to succeed, many tax experts want more guidance from the IRS before projects are planned and executed.
States have gone too far to get around physical presence requirements for making retailers collect and remit use tax to give up now, and that will be true even if the U.S. Supreme Court upholds Quill Corp. v. North Dakota. Here are three things states will keep doing to bring in sales and use tax revenue, even if Quill stays.
In this week’s Taxation With Representation, Quality Care Properties, Welltower and Promedica cooperated on a $2 billion deal, EQT Midstream Partners and Rice Midstream Partners agreed on a $2.4 billion merger, Searchlight Capital Partners LP paid $2 billion to take Mitel private and CenterPoint Energy acquired Vectren for $6 billion.
The last week has seen Merrill Lynch file new actions against Venice, Swiss Re lodge a claim against Maersk, and Raiffeisen Bank sue an Argyle Street unit the Austrian bank already claims owes $70 million linked to a 2015 takeover battle. Here, Law360 looks at those and other new claims in the U.K.
Denying a sixth consecutive continuance did not deprive the founder of an environmental services company of due process rights, especially when he engaged in dishonest behavior and failed to follow his plea agreement during the five previous extensions, a Third Circuit panel ruled Thursday.
The U.S. House of Representatives voted on Friday to extend the aircraft fuel tax until 2023 as part of a bill to reauthorize and fund the Federal Aviation Administration.
A D.C. federal judge on Friday tossed Paul J. Manafort Jr.’s civil suit challenging the special counsel criminal charges against him, ruling the former Trump campaign manager’s only chance of ducking the money laundering and other accusations is in the criminal proceedings themselves.
The U.S. government has urged the Third Circuit to reverse a Pennsylvania federal judge’s decision to let a pharmaceutical CEO duck a nearly $1 million tax penalty over an undisclosed Swiss bank account, arguing the lower court wrongly raised the bar for showing willful conduct.
The co-owner of a major Gloucester, Massachusetts, seafood processing plant will spend two years in federal prison after being sentenced for evading more than $1 million in taxes at an emotional hearing Friday in a Boston courthouse.
An international shipping company urged a D.C. Circuit panel Thursday to grant it the chance to prove it is owned predominantly by residents of other countries, despite the fact its stock is issued in hard-to-trace bearer shares.
The federal tax overhaul's base erosion and anti-abuse measure likely violates international treaty and trade rules aimed against preferential treatment for domestic businesses, practitioners said Wednesday at a conference in New York.
For the second time in eight days, a Florida state court has ruled that Halifax Health lacks authority to build a hospital outside of a special taxing district's geographical bounds, granting a judgment Wednesday to a district resident who challenged a partially completed project in the city of Deltona.
Newark released a redacted version Wednesday of its bid to land Amazon’s second U.S. headquarters amid a lawsuit from an open-government activist over the efforts of New Jersey's largest city to shield the document from public view, according to the man's attorney.
The Eleventh Circuit clarified its month-old opinion that Alabama taxes discriminate against rail carriers with a limiting revision Wednesday, specifying that the opinion applies to the transportation of interstate freight.
The Fifth Circuit on Wednesday affirmed the November 2016 convictions of two tax preparers accused of running a $2.1 million Ponzi scheme, saying jurors in the case had not been misled by the indictment's use of the word “victim.”
The Multistate Tax Commission voted Thursday to move forward with public hearings on a proposed statute that would standardize how remote retailers report customer purchasing data and tax liabilities to states.
A Delaware judge found Wednesday he lacked jurisdiction to hear negligent misrepresentation claims from bondholders, a bank and shipping companies alleging KPMG entities failed to realize an offshore oil services company was running a $1.1 billion invoicing fraud, saying the case belongs in state Chancery Court.
A convicted tax shelter promoter saw his challenge to a $62 million Internal Revenue Service penalty tossed by a Second Circuit summary order on Wednesday after a panel affirmed a lower court's judgment in favor of the agency.
Jones Day has brought on a former Kirkland & Ellis LLP attorney who has years of experience advising clients on executive compensation and benefits matters, announcing he has joined the firm as a partner in Chicago.
The new federal tax law was expected to change how deals get structured, and four months after its enactment, it is becoming clear how the legislation is having an impact on negotiations and tax planning strategies.
The impact of millennials has already been felt within the legal community by our eagerness to embrace new technologies. One way that we will have potentially even more impact lies in our willingness to embrace new ways of developing business and financing law, says Michael Perich of Burford Capital LLC.
Four years ago, a temporary Treasury regulation went into effect allowing the IRS to hire outside contractors in taxpayer examinations. It appears this will soon change as multiple measures are under consideration that would nullify or restrict what many view as an impermissible outsourcing of the IRS' audit function, says Nelson Yates, counsel at Morgan Lewis LLP.
The FBI raid of the office of President Donald Trump’s personal lawyer set off a firestorm of controversy about the sanctity of the attorney-client privilege, epitomized by Trump's tweet that the "privilege is dead." But attorney-client privilege is never taken lightly — I have battle scars from the times I have sought crime-fraud exceptions, says Genie Harrison of the Genie Harrison Law Firm.
In this series, experts discuss the unique aspects of closing a law firm, and some common symptoms of dysfunctionality in a firm that can be repaired before it's too late.
I am often asked, “When there are one or more partner departures, what can a firm do to prevent this from escalating to a catastrophic level?” The short answer is “nothing.” Law firms need to adopt culture-strengthening lifestyles to prevent defections from occurring in the first place, says Larry Richard of LawyerBrain LLC.
Chicago has securitized its sales tax revenue to take advantage of the bankruptcy-remote mechanism and lower interest rates. However, an analysis of the transfer shows it may be classified as a financing, not a true sale, and may not be as bankruptcy-proof as hoped, says Raphael Janove of Eimer Stahl LLP.
In this article covering South Dakota v. Wayfair, David Fruchtman of Rimon PC, analyzes all of the briefs submitted in support of petitioner or in support of neither party.
The Tax Cuts and Jobs Act eliminated the corporate alternative minimum tax, but taxpayers should be cognizant of the rules that could limit or eliminate the ability to refund the AMT credits. Future IRS guidance may address the issue, but there are steps taxpayers can take in the meantime to determine how best to allocate their AMT credits, says Todd Reinstein of Pepper Hamilton LLP.
Given the competing public policies of protecting clients’ right to counsel of their choice, lawyer mobility, and the fiduciary duty partners owe to a dissolved firm, it behooves law firms to carefully review their partnership agreements to make sure they adequately spell out what happens in the unfortunate event that the law firm chooses to wind down, say Leslie Corwin and Rachel Sims of Blank Rome LLP.
Tax season can be daunting and downright frightening without the added fear of tax scams that seek to siphon money from you and your employees. This year, the IRS and FBI are warning employers about a new surge in Form W-2 phishing scams, urging all employers not only to educate their payroll personnel but also to develop incident response plan and reporting protocols, say Matt Todd and Teri Nguyen of Polsinelli PC.