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Tax

  • July 26, 2018

    Mass. Gov. Signs $41B Budget With Increase In EITC

    Massachusetts Gov. Charlie Baker signed a state budget Thursday totaling more than $41 billion with five days to spare in the legislative session, raising the state’s earned income tax credit and its dairy tax credit cap, with no other significant tax-related provisions highlighted by the governor.

  • July 26, 2018

    Aussie Casino Co. Disputes $267M Tax Bill Tied To US Deal

    Australia-based Crown Resorts Ltd. is appealing AU$362 million ($267 million) in tax assessments in a dispute over deductions the company had claimed in its failed bid to acquire a Las Vegas casino company in 2007.

  • July 26, 2018

    9th Circ. Altera Decision Could Warrant Rare En Banc Review

    A set of unusual factors surrounding the IRS’ win in an Intel Corp. subsidiary’s lawsuit challenging a cost-sharing rule, including a dissent pointing out that the win was based on arguments the agency itself didn’t provide, could lead to a reconsideration of the issue by the entire Ninth Circuit bench.

  • July 26, 2018

    Sens. Push For IRS Structural Reforms, Taxpayer Protections

    Decrying an agency that he said was not responding to the needs of taxpayers, the top Republican on a Senate panel that oversees the Internal Revenue Service, along with a Democratic colleague, introduced a bill Thursday that would reform several IRS administrative functions and reinforce taxpayer protections.

  • July 26, 2018

    Feds Notch 1st Plea Deal In Beaufort Fraud Investigation

    A Mauritius man with a law degree who made shell companies for an undercover agent in the Beaufort Securities fraud case admitted to money laundering in Brooklyn federal court Thursday and will face a potential sentence of four to six years behind bars.

  • July 26, 2018

    Treasury Nominee Defends Role In ‘Dark Money’ Rule

    The nominee for the U.S. Treasury Department's deputy secretary on Thursday defended his role surrounding guidance that no longer requires certain tax-exempt organizations to disclose their donors' identities, stating that while he was not the driver of the policy, it will lead to greater efficiency in tax administration. 

  • July 26, 2018

    Simplification Beats Litigation, Retailers Tell MTC States

    Three of the retail industry’s leading legal advocates called on state tax administrators Thursday to work with the business community to establish clear sales and use tax collection and remittance policies, rather than face another decade of litigation.

  • July 25, 2018

    House Votes To Extend Exemption From ACA Insurer Fee

    The U.S. House of Representatives voted Wednesday to extend a moratorium on an annual fee on insurers under the Affordable Care Act until 2022.

  • July 25, 2018

    Puerto Rico Gov't Battles Over Fed. Board Budgeting Powers

    Attorneys for Puerto Rico's governor and lawmakers told the judge presiding over the island's bankruptcy-like cases on Wednesday that the federal board appointed to oversee the restructuring process must be stopped from implementing fiscal plans that effectively change legislative policy in the commonwealth.

  • July 25, 2018

    Delaware Ruling Ends Calif. Plant's Ch. 11 Tax Refund Suit

    A bankrupt California power plant's argument for a $14 million refund on five years' worth of property taxes fizzled Wednesday with a Delaware judge's ruling that sovereign immunity protects a state tax agency from federal bankruptcy court action on the claim.

  • July 25, 2018

    NH Lawmakers Spar, Nix Bill To Combat Wayfair Ruling

    New Hampshire’s state legislators scrapped a bill Wednesday designed to protect in-state remote sellers from being subjected to sales and use tax after the U.S. Supreme Court's landmark Wayfair ruling, as lawmakers took umbrage with the bill’s provisions and what they said was a dearth of authors.

  • July 25, 2018

    IRS Asks 9th Circ. To Uphold Penalties On Tax Attorney

    The government has asked the Ninth Circuit to uphold a decision finding a California tax attorney and certified public accountant liable for tax return preparer penalties assessed by the Internal Revenue Service, saying there is ample evidence that he willfully understated taxes his clients owed.

  • July 25, 2018

    Chevron Raises Bribe Claims Before Ex-Worker's Sentencing

    Chevron Corp. urged a Houston federal judge on Tuesday to consider kickback allegations that prosecutors have agreed to drop against a former Chevron employee when sentencing him on a related tax charge to which he has agreed to plead guilty.

  • July 25, 2018

    From Billable Hours To Bedtime Stories: Lawyering With Children

    Attorneys are clocking more billable hours than ever before, and when children enter the picture, the demands on their time and finances can drive stress levels to new heights.

  • July 25, 2018

    Prudential Denied Interest On Tax Levied In Breach Of EU Law

    Prudential Assurance Company Ltd. cannot claim compound interest on corporation tax levied in breach of European Union law by by HM Revenue and Customs, Britain’s top court ruled Wednesday in an important test case over the tax treatment of dividends from overseas companies.

  • July 24, 2018

    Ill. Man Sentenced Again After Posner Botched 1st Trial

    An Illinois man convicted of filing false tax returns was sentenced Tuesday to 28 months' time served, according to the U.S. attorneys' office, in a second trial granted over prejudicial statements made in the first trial by retired Seventh Circuit Judge Richard Posner, who served as the district judge.

  • July 24, 2018

    9th Circ.’s Shift From Arm’s-Length Rule May Embolden IRS

    The Ninth Circuit’s revival of an IRS cost-sharing regulation previously invalidated by the U.S. Tax Court throws into disarray multinational companies’ expectations that they can rely on the arm’s-length standard to craft agreements for sharing research and development costs.

  • July 24, 2018

    PA Cyber School Founder Gets Prison For $8M Tax Scheme

    A Pennsylvania federal judge on Tuesday sentenced the founder of the PA Cyber School to 20 months in prison followed by three years of probation for using shell companies and straw owners to hide $8 million from the IRS.

  • July 24, 2018

    County Assessor Should Face Biased-Tax Claims, Judge Told

    Three Chicago neighborhood advocacy organizations accusing Cook County’s assessor of implementing racially biased property tax assessments urged an Illinois state court judge not to toss their case Tuesday, saying the assessor is asking for above-the-law protection and they have a claim for the time and money they've spent fighting his conduct.

  • July 24, 2018

    Boundary Row Led To Double Taxation, Texas Justices Hear

    A chemical company has asked the Texas Supreme Court to settle a 50-year boundary dispute between two counties that it says has resulted in double taxation on two of its commercial piers and docks, saying it overpaid $3 million in ad valorem taxes.

Expert Analysis

  • Beer, Wine, Alcohol And Taxes: A Most Excellent Recipe

    Ed Brown

    Producers of beer, wine and distilled spirits were treated very well by last year's tax reform. Even before taking into consideration the reduction in effective tax rates and other tax changes that benefit all businesses, craft brewers, small vintners and artesian distillers received much needed relief relating to federal excise taxes, say Edward Brown and James McCarten of Burr & Forman LLP.

  • Investment Tax Credit Guidance Means Sunny Days For Solar

    Jon Nelsen

    Notice 2018-59, issued last month by the Internal Revenue Service, confirms that standards and safe harbors previously defined for wind energy projects can be used with solar energy projects. Project sponsors can now act with greater certainty in making solar investments, say Jon Nelsen, Michael Didriksen and Peter Farrell of Baker Botts LLP.

  • Tax Implications For The California Cannabis Industry

    Shail Shah

    This article by attorneys at Reed Smith LLP outlines tax implications for the cannabis industry in California, the largest state to legalize medical and recreational adult-use cannabis, and other states where marijuana is legally sold.

  • Series

    Judging A Book: Hood Reviews 'Lawyering From The Inside Out'

    Judge Denise Hood

    Law professor Nathalie Martin's new book, "Lawyering From the Inside Out: Learning Professional Development Through Mindfulness and Emotional Intelligence," can be of value to any lawyer aiming to achieve greater productivity, relieve the stress of the legal profession and focus on goals, says U.S. District Chief Judge Denise Page Hood of the Eastern District of Michigan.

  • Destination Ireland — Issues To Consider Before Relocating

    John Gill

    Over the past 18 months, companies have discussed the opportunities that exist for moving part of their global operations to Ireland in the context of Brexit. Inevitably as part of these discussions, the ability to relocate key employees comes into focus. John Gill of Matheson examines some of the key issues people and corporations need to consider when relocating to Ireland, including right to reside, tax and practical relocation issues.

  • The Impacts Of Wayfair On Alabama Tax Amnesty

    David Blum

    Tax amnesty programs are usually a huge benefit for all involved. However, for Alabama sales and use tax purposes in the wake of South Dakota v. Wayfair Inc., the issues are not so clear cut for many taxpayers, say David Blum and Emily Fiore of Akerman LLP.

  • Already Caught? The Truth Won't Lower Your IRS Penalties

    Bryan Camp

    In the recent case of Gaskin v. Commissioner, the U.S. Tax Court rejected a "fraudster's" argument that his penalties should be reduced because he had filed an amended return. The case illustrates that telling the IRS the truth after you're caught won't save you from paying penalties — or what what Professor Bryan Camp of Texas Tech School of Law calls "the one return rule."

  • Foreign Real Estate Investors Must Consider All US Taxes

    Brad Wagner

    Foreign inbound investors in U.S. real estate often do not realize that there are state and local taxes that will be incurred, significantly affecting the cash flow and internal rate of return, says Brad Wagner of Wagner Duys & Wood LLLP.

  • 3 Top E-Discovery Case Law Lessons Of 2018 (So Far)

    Casey Sullivan

    The blockbuster e-discovery cases, with big sanctions and bigger controversies, have been few and far between this year. But that doesn’t mean the legal questions around e-discovery have been answered. Let’s take a closer look at three cases worthy of our attention, says Casey Sullivan, an attorney at discovery technology provider Logikcull.

  • The Rise And Fall Of The Millionaire Tax In Massachusetts

    David Nagle

    In a June 20, 2018, decision the Massachusetts Supreme Judicial Court ended a three‑year effort to amend the Massachusetts Constitution and impose an additional tax on individuals with income exceeding $1 million, David Nagle and Joseph Donovan of Sullivan & Worcester LLP analyze the history of the litigation, the decision and its implications.