Tax

  • October 31, 2017

    Ties To Oligarchs Make Manafort Flight Risk, Mueller Says

    Special counsel Robert Mueller's office portrayed Paul Manafort and his business partner Rick Gates as significant flight risks in a court filing Tuesday, pointing to the pair's extensive overseas connections to support strict release conditions.

  • October 31, 2017

    Koskinen Stresses Continued Focus On IT Upgrades At IRS

    The ideal candidate to lead the Internal Revenue Service is someone who can effectively oversee information technology projects, in addition to managing about 80,000 employees, the agency's outgoing head, John Koskinen, said on Tuesday.

  • October 31, 2017

    Canadian Seeks Tax Refund Over $100K US Gambling Loss

    A Canadian woman hit the U.S. government with a suit Monday in District of Columbia federal court, seeking a refund of more than $100,000 related to a gambling loss she incurred in the U.S.

  • October 31, 2017

    Ex-Pa. Treasurer Gets Probation For Lying To Investigators

    A former Pennsylvania treasurer was sentenced to 36 months of probation on Tuesday for lying to federal investigators about payments her consulting company received from a businessman with financial ties to entities that provided services to the state treasury.

  • October 31, 2017

    Tax Convict's Wife Wants Property Foreclosure Reconsidered

    The wife of a convicted property owner on the hook for $15.3 million in tax liabilities asked a Utah federal judge Monday to reconsider his decision to foreclose tax liens on related properties, arguing that the court applied the wrong law when concluding that the land was an invalid gift to her.

  • October 31, 2017

    Better Homes Publisher Sues IRS Over $12M Tax Bill

    Media company Meredith Corp., the publisher of Better Homes & Gardens and Martha Stewart Living, has taken the government to court to recover some $12 million in taxes it said were illegally assessed against it.

  • October 31, 2017

    Utah Financial Adviser Pleads Guilty In Tax Fraud Scheme

    A financial adviser in Utah pled guilty Monday to running a scheme in which he sold tax avoidance advice and defrauded investors out of more than $10 million.

  • October 30, 2017

    Texas Panel Revives Training Co.’s Franchise Tax Protest

    A Texas appeals court on Friday revived a training company's protest against having to pay the state's franchise tax, finding the lower court wrongly denied the business a chance to amend its argument against the levy.

  • October 30, 2017

    Russia Probe Charges Show Mueller In Dive Bomb Mode

    A 31-page indictment detailing how former Trump campaign chairman Paul Manafort and an associate allegedly masked $75 million in payments from pro-Russian clients, and a newly unsealed guilty plea by a lesser-known adviser, show special counsel Robert Mueller strategically pursuing charges big and small to swoop in on the president’s closest associates.

  • October 30, 2017

    Tax, Banking Charges May Be Leverage In Russia Probe

    The financial crime charges leveled against President Donald Trump’s former campaign chairman Paul Manafort and an alleged co-conspirator are shocking by themselves, but if supported by a definitive paper trail, they could also be used to elicit information on Russian interference in the 2016 election.

  • October 30, 2017

    Mueller's Team Won Order Requiring Manafort's Atty To Talk

    A former attorney for President Donald Trump’s ex-campaign chairman Paul Manafort was ordered by a D.C. federal judge to testify to the grand jury about submissions to the U.S. Department of Justice regarding the now-indicted Manafort’s work in Ukraine, according to court documents unsealed Monday.

  • October 30, 2017

    7th Circ. Says Fannie, Freddie Buyers Can't Duck Local Taxes

    A Seventh Circuit panel Monday reversed a lower court’s decision that deemed unconstitutional the local transfer taxes levied against Chicagoans buying property from Fannie Mae and Freddie Mac, ruling that it was not Congress’ intent to shield the buyers from these taxes.

  • October 30, 2017

    Mueller Charges Send Trump, Democrats To Their Foxholes

    Official Washington erupted Monday with the first charges from Special Counsel Robert Mueller against key members of President Donald Trump’s campaign, prompting the Trump administration to distance itself from the defendants and Democrats to go on the offensive.

  • October 30, 2017

    Ex-Treasury Official Parses 'Control' In OECD Tax Guidance

    A former U.S. Treasury official highlighted the dangers of cutting corners in a transfer-pricing analysis during an interview in which he discussed his work with the government and as a delegate to the Organization for Economic Cooperation and Development.

  • October 30, 2017

    Thousands Of Law Firms To Get $4.5M In Tax Deal With LA

    Los Angeles has reached a deal to end a class action brought by Berkes Crane Robinson & Seal LLP accusing the city of wrongly taxing firms on expenses and costs that were reimbursed by clients, agreeing to stop the practice and reimburse about 2,000 law firms a combined $4.5 million.

  • October 30, 2017

    Tax Atty Pleads Not Guilty In NFL Player Refund Case

    The former tax attorney for professional football player Antrel Rolle has pled not guilty to charges of fraudulently obtaining $1.2 million in tax refunds for the All-Pro safety and then pocketing the money for himself, a spokesman for Los Angeles prosecutors confirmed with Law360 on Monday.

  • October 30, 2017

    Ukraine Can't Nix $12M Award Over Royalties To UK Gas Co.

    JKX Oil & Gas PLC has successfully fended off Ukraine's court challenge in England to the U.K. company's $11.8 million arbitral award, which it won following a dispute with the Eastern European nation over gas royalties, according to a notice issued on Monday.

  • October 30, 2017

    US Asks High Court To Keep Broad View Of Tax Crime Clause

    The government opposed a request by an alleged tax dodger for the U.S. Supreme Court to overturn his conviction under the Internal Revenue Code's "omnibus clause," arguing the tax code does not require proof of the taxpayer's knowledge during a pending Internal Revenue Service investigation.

  • October 30, 2017

    Energy Co., NAM Join Gas Tax Opponents Before High Court

    An energy company and the National Association of Manufacturers have thrown their weight behind a September petition by an Energy Transfer Partners LP subsidiary asking the U.S. Supreme Court to review the way that stored natural gas is appraised and taxed in the Houston area.

  • October 30, 2017

    Trump Tax Plan Will Slow Economy Long-Term, Report Says

    The tax overhaul plan from the White House and congressional Republican leadership would initially boost the economy, but higher budget deficits would ultimately slow growth, according to an updated analysis released Friday by the Tax Policy Center. 

Expert Analysis

  • 'Per-Doc' Pricing Can Improve Document Review

    file folder

    Imagine going to a restaurant and ordering your steak medium-rare. The steak arrives burned. You expect the kitchen to bring you another one properly done, right? And you don’t expect to pay for two steaks, do you? Paying a vendor for document review should be no different, says Lisa Prowse, an attorney and vice president at e-discovery firm BIA Inc.

  • Avrahami Ruling On Microcaptives Offers Little Guidance

    Steven Miller

    The captive insurance industry has had little guidance from courts, the U.S. Treasury Department or the U.S. Internal Revenue Service on what an acceptable arrangement looks like. Many had hoped that the U.S. Tax Court's ruling in Avrahami v. Commissioner would provide such guidance. But the decision last month left too many questions unanswered, says Steven Miller of Alliantgroup LP.

  • A Guide To The Executive Branch Official Nomination Process

    Adam Raviv

    Although the Trump administration has completed the vetting and confirmation of a cabinet and White House staff, thousands of senior positions remain unfilled throughout the executive branch. More than ever, people selected for those posts find themselves under close scrutiny, say Adam Raviv and Reginald Brown of WilmerHale.

  • An IRS Lifeline To Public Utilities On Normalization

    Jeffrey Davis

    Last week, the Internal Revenue Service provided a safe harbor for public utilities that inadvertently break the so-called normalization rules, which are used to reconcile tax treatment of investment tax credits, or accelerated depreciation of assets, with their regulatory treatment. This is undoubtedly good news for public utilities, say attorneys with Mayer Brown LLP.

  • DOL's Fiduciary Rule: Death By A Thousand Cuts?

    Andrew Oringer

    Every now and then one wakes up with a thought along the lines of, "How the heck did we get to where we are?" Such a thought may easily be brought to mind by the present state of play regarding the U.S. Department of Labor's new fiduciary regulation, says Andrew Oringer of Dechert LLP.

  • How Collaboration Is Changing Inside Some Law Firms

    Chris Cartrett

    In our recent survey of business of law professionals, nearly half of respondents said that who they collaborate with, inside their law firm, is different from five years ago, says Chris Cartrett of legal software provider Aderant.

  • Blazing A Trail For More Local Taxes By Ballot Initiative

    Eric Coffill

    The California Supreme Court recently held that local taxes imposed via initiative are subject to less stringent requirements than taxes imposed by local governments. But in granting great deference to California's initiative process, the court gave too little regard to Proposition 218, requiring local taxes be approved by a majority of voters, say Eric Coffill and Robert Merten III of Eversheds Sutherland LLP.

  • Opinion

    Dealing With Difficult Lawyers

    Alan Hoffman

    Some lawyers tend to be overly aggressive, regarding law practice as a zero-sum game in which there are only winners and losers. The best response is to act professionally — separating the matter at hand from the personalities. But it is also important to show resolve and not be vulnerable to intimidation, says Alan Hoffman of Husch Blackwell LLP.

  • Wind Power: A Strong Market But An Uncertain Future

    John Crossley

    The U.S. Department of Energy's recently published 2016 Wind Technologies Market Report showed strong growth for wind power due to low power purchase prices, decreased technology costs and improved performance. But the expiration of the production tax credit and low natural gas prices make long-term growth uncertain, say John Crossley and Brynna Krough-Deaton of Husch Blackwell LLP.

  • Calif. High Court Tax Decision Could Be A Pyrrhic Victory

    Bryan Wenter

    The California Supreme Court's decision in California Cannabis Coalition v. City of Upland may make local efforts to raise taxes much easier. However, the court itself inadvertently recognized the potential temporary nature of this victory, acknowledging that voters have the power to restrict the electorate's initiative power, says Bryan Wenter of Miller Starr Regalia.