Tax

  • March 22, 2025

    Up Next At High Court: Non-Delegation & Clean Air Fights

    The U.S. Supreme Court will return to the bench Monday to hear arguments in a dispute that could revive a long-dormant separation of powers principle and trigger a regulatory power shift. 

  • March 21, 2025

    SEC Guidance Moves Needle In Favor Of Private Fundraising

    The U.S. Securities and Exchange Commission's recent guidance on how accredited investors can self-certify when participating in broadly publicized private placements simplifies legal compliance for issuers, according to attorneys, though the jury is still out on whether market participants will embrace the new framework.

  • March 21, 2025

    Fla. Tax Preparer Sentenced To Prison For $20M Fraud

    A Miami-area tax preparer was sentenced to nearly five years in prison Friday after admitting to filing thousands of individual tax returns wrongly claiming energy credits, resulting in a $20 million loss for the Internal Revenue Service, according to the U.S. Attorney's Office for the Southern District of Florida.

  • March 21, 2025

    'Not Mistake-Proof': College Can Try To Recoup Tax Penalties

    A community college can proceed with its suit seeking a refund of tax penalties for failing to file wage statements for nearly all its employees, a Michigan federal judge ruled Friday, saying the school didn't have to meet a "mistake-proof" standard to argue it should be excused from the fines.

  • March 21, 2025

    Boutique Firm Accuses IRS Of Illegally Enforcing Payroll Tax

    A consumer-protection boutique law firm accused the IRS of illegally enforcing payroll taxes while delaying the processing of pandemic-era employee retention tax credits, which the firm claimed would have helped with compliance, according to a complaint in Connecticut federal court.

  • March 21, 2025

    Ex-UBS North America CEO Agrees To $4.9M FBAR Judgment

    The former North American CEO for Swiss bank UBS on Friday agreed to a $4.9 million judgment to end claims that he failed to file timely or accurate foreign bank account reports with the Internal Revenue Service between 2003 and 2013.

  • March 21, 2025

    Mich. Judge Dismisses $217M Dam Repair Tax Challenge

    A Michigan federal judge has dismissed a pair of lawsuits alleging a $217 million special assessment to fund the reconstruction of dams destroyed in 2020 floods was unfairly levied on certain properties, finding homeowners had the opportunity to oppose the assessment and litigate their claims in state court.

  • March 21, 2025

    US-Swiss Agreement Exempts Retirees' Dividends, IRS Says

    U.S. retirement accounts, including trusts, qualified annuity plans and other schemes, are exempt from Swiss taxes on dividends from Swiss companies in which they don't own a controlling interest, according to a U.S.-Switzerland competent authority agreement released Friday by the IRS.

  • March 21, 2025

    Md. Nonprofit's Property Used As Home Isn't Exempt

    A Maryland property owned by a nonprofit isn't exempt from property tax, because it's used as the founder's home and not mainly for charitable purposes, the state tax court affirmed. 

  • March 21, 2025

    Taxation With Representation: Cravath, Paul Weiss, Cooley

    In this week's Taxation With Representation, Google acquires Wiz, QXO Inc. acquires Beacon Roofing Supply, and the Boston Celtics are bought by a group led by private equity firm co-founder William Chisholm.

  • March 21, 2025

    Informal Money Transfers Launder £2B Annually, HMRC Warns

    Criminals in the U.K. are laundering an estimated £2 billion (£2.6 billion) every year via informal money transfer services, HM Revenue and Customs has warned.

  • March 21, 2025

    High Court Says Misleading Statements To FDIC Not Criminal

    The U.S. Supreme Court on Friday overturned a Seventh Circuit ruling that upheld the conviction of a former Chicago alderman for making false statements about loans from a defunct bank, clarifying that the federal law in question criminalizes false statements but not those that are merely misleading.

  • March 21, 2025

    Fed. Circ. Backs Actavis' $12M Patent Suit Cost Deduction

    Drugmaker Actavis can take a $12 million tax deduction for money it spent fending off lawsuits while securing approval to sell generic birth control and other drugs, the Federal Circuit ruled Friday, affirming the U.S. Court of Federal Claims' decision that the costs were deductible as ordinary business expenses.

  • March 20, 2025

    IRS SALT Cap Workaround Rule Unlawful, 2nd Circ. Told

    The Internal Revenue Service unlawfully created a rule prohibiting workarounds to the federal cap on state and local tax deductions, a New Jersey deputy attorney general told a Second Circuit panel Thursday, asking the appellate judges to overturn a lower court ruling that upheld the rule.

  • March 20, 2025

    Ill. Justices End Cities' Dispute Over Cooper's Hawk Sales Tax

    The Illinois Supreme Court on Thursday dismissed a suit brought by an Illinois village against a neighboring city that allegedly pocketed over $1 million in sales tax revenue owed to the village, saying the Illinois Department of Revenue has exclusive jurisdiction over such disputes between municipalities and an intermediate appellate panel wrongly revived the case.

  • March 20, 2025

    Jurisdictional Uncertainty Helps Preserve Ill. Tax Bias Suit

    Cook County property owners who mistakenly brought discriminatory assessment accusations in state court before taking their allegations to federal court can continue pursuing those claims, an Illinois judge said, rejecting the county's timeliness challenge. 

  • March 20, 2025

    Frost Brown Adds Former Houston City Atty To Finance Team

    Frost Brown Todd LLP announced that it has hired an attorney from the ranks of Houston's city government to strengthen its public finance group, adding his expertise in state and local government operations, taxation and economic development.

  • March 20, 2025

    Former Ore. Doctor's Deduction For Insurance Premiums OK'd

    A former Oregon doctor's payments of $2.5 million to a captive insurer are deductible from his state taxable income, the Oregon Tax Court ruled, saying an agreement the taxpayer reached with the Internal Revenue Service did not bar the deductions.

  • March 19, 2025

    NY DOT Says Feds' Bid To Kill Congestion Pricing Is 'Unlawful'

    The New York State Department of Transportation told a Manhattan federal judge Wednesday that the Trump administration's efforts to kill New York City's congestion pricing program unlawfully interfere with the Empire State's authority to implement state law and protect New Yorkers' health and welfare.

  • March 19, 2025

    7th Circ. Orders Tax Court To Clarify ESOP Suit Dismissal

    The Seventh Circuit axed the U.S. Tax Court's dismissal of a transit company's suit over an employee stock ownership plan, saying the lower court must specify that it lacked the authority to review the case because it was filed before the IRS completed an exam.

  • March 19, 2025

    6th Circ. Says Pharmacist Doesn't Owe Tax On Forfeited IRA

    A pharmacist doing time for running a Kentucky pill mill doesn't owe taxes on his forfeited retirement account, the Sixth Circuit ruled Wednesday, reversing a U.S. Tax Court decision that upheld what the appeals court described as an unexpected punishment.

  • March 19, 2025

    Satellite Startup Execs Accused Of Fraud And Tax Evasion

    An aerospace company's founder, an attorney and other executives lied about a venture to launch billions of dollars in satellites so they could rake in millions from investors, according to an indictment in D.C. federal court that also charges the founder with tax crimes.

  • March 19, 2025

    Goldstein Says Feds 'Misled' Court With Obstruction Claim

    U.S. Supreme Court lawyer and SCOTUSblog publisher Tom Goldstein wants a Maryland federal judge to sanction prosecutors in his tax evasion case for a "pattern of false and misleading statements" to the court accusing him of hiding millions in cryptocurrency and bribing his former law firm manager.

  • March 19, 2025

    DC Judge Won't Preemptively Stop IRS Data Sharing With DHS

    A D.C. federal judge on Wednesday said two immigrant rights groups had not shown that the IRS is poised to unlawfully share noncitizen taxpayer records with immigration enforcement authorities, rejecting their bid for a court order that would preemptively block any information transfer.

  • March 19, 2025

    Switzerland, Zimbabwe Sign Tax Treaty

    Switzerland and Zimbabwe signed an agreement Wednesday for a treaty to avoid double taxation of income, an expansion of the Swiss treaty network in southern Africa that has been welcomed by cantons and businesses, according to Switzerland's competent authority.

Expert Analysis

  • Class Actions At The Circuit Courts: July Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers cases touching on pre- and post-conviction detainment conditions, communications with class representatives, when the American Pipe tolling doctrine stops applying to modified classes, and more.

  • Opinion

    Now More Than Ever, Lawyers Must Exhibit Professionalism

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    As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.

  • Series

    Serving In The National Guard Makes Me A Better Lawyer

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    My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.

  • Reading Between The Lines Of Justices' Moore Ruling

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    The U.S. Supreme Court's recent Moore v. U.S. decision, that the Internal Revenue Code Section 965 did not violate the 16th Amendment, was narrowly tailored to minimally disrupt existing tax regimes, but the justices' various opinions leave the door open to future tax challenges and provide clues for what the battles may look like, say Caroline Ngo and Le Chen at McDermott.

  • A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates

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    Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.

  • Opinion

    States Should Loosen Law Firm Ownership Restrictions

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    Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.

  • Series

    Solving Puzzles Makes Me A Better Lawyer

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    Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.

  • Series

    After Chevron: Uniform Tax Law Interpretation Not Guaranteed

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    The loss of Chevron deference will significantly alter the relationship between the IRS, courts and Congress when it comes to tax law, potentially precipitating more transparent rulemaking, but also provoking greater uncertainty due to variability in judicial interpretation, say Michelle Levin and Carneil Wilson at Dentons.

  • Texas Ethics Opinion Flags Hazards Of Unauthorized Practice

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    The Texas Professional Ethics Committee's recently issued proposed opinion finding that in-house counsel providing legal services to the company's clients constitutes the unauthorized practice of law is a valuable clarification given that a UPL violation — a misdemeanor in most states — carries high stakes, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • In Memoriam: The Modern Administrative State

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    On June 28, the modern administrative state, where courts deferred to agency interpretations of ambiguous statutes, died when the U.S. Supreme Court overruled its previous decision in Chevron v. Natural Resources Defense Council — but it is survived by many cases decided under the Chevron framework, say Joseph Schaeffer and Jessica Deyoe at Babst Calland.

  • How High Court Approached Time Limit On Reg Challenges

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    The U.S. Supreme Court's decision in Corner Post v. Federal Reserve Board effectively gives new entities their own personal statute of limitations to challenge rules and regulations, and Justice Brett Kavanaugh's concurrence may portend the court's view that those entities do not need to be directly regulated, say attorneys at Snell & Wilmer.

  • How To Clean Up Your Generative AI-Produced Legal Drafts

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    As law firms increasingly rely on generative artificial intelligence tools to produce legal text, attorneys should be on guard for the overuse of cohesive devices in initial drafts, and consider a few editing pointers to clean up AI’s repetitive and choppy outputs, says Ivy Grey at WordRake.

  • Opinion

    A Tale Of 2 Trump Cases: The Rule Of Law Is A Live Issue

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    The U.S. Supreme Court’s decision this week in Trump v. U.S., holding that former President Donald Trump has broad immunity from prosecution, undercuts the rule of law, while the former president’s New York hush money conviction vindicates it in eight key ways, says David Postel at Henein Hutchison.

  • Series

    Boxing Makes Me A Better Lawyer

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    Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.

  • Opinion

    Industry Self-Regulation Will Shine Post-Chevron

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    The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.

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