Tax

May 07, 2025
Colo. Lawmakers OK Keeping Taxes On Overtime

Overtime income would remain subject to Colorado state income tax even if exempted at the federal level under legislation passed Wednesday by lawmakers that also limits the state's enterprise zone tax credit and makes other tax changes.
May 07, 2025
Feds Seek 13 Years In Avenatti's California Resentencing

California federal prosecutors asked a judge Wednesday to sentence Michael Avenatti to 160 months in prison for tax fraud and stealing from clients, to be served atop the five-year term imposed in a pair of New York cases where Avenatti was convicted of trying to extort Nike Inc. and defrauding former client Stormy Daniels.
May 07, 2025
6th Circ. Skeptical Of US In Tax Court Deadline Case

Sixth Circuit judges expressed skepticism of the U.S. government's claim that the 90-day deadline to petition the U.S. Tax Court is inflexible, with one judge saying during oral arguments Wednesday in a woman's case challenging the rule that the U.S. Supreme Court seemed to back her.
May 07, 2025
Device Seller Asks For Probation In $2.4M Tax Evasion Case

The septuagenarian owner of a Florida medical device company who pled guilty to evading $2.4 million in taxes asked a federal district court Wednesday for his sentence to entail home probation and not prison, given his health challenges and payments he already made to the Internal Revenue Service.
May 06, 2025
Fed. Circ. Agrees Plane Taxability Patent Doesn't Fly

The Federal Circuit on Tuesday refused to revive an Ohio company's patent that covers using Federal Aviation Administration data to determine "the taxability status of aircraft," agreeing that it covered subject matter that isn't patentable.
May 06, 2025
Pa. House OKs Pot Legalization Bill With State-Run Shops

Pennsylvania's House of Representatives approved on Tuesday a Democrat-backed bill to legalize recreational adult-use marijuana and regulate its sale through state-run stores.
May 06, 2025
Tax Court Erred In Slashing $23M Easement, 11th Circ. Told

A partnership told the Eleventh Circuit that the U.S. Tax Court erred in substantially reducing its claim to a $23 million conservation easement tax deduction, arguing the decision was tainted by error-riddled criteria used by the IRS to value the property.
May 06, 2025
Trump Announces Mo., DC Judicial Nominations

President Donald Trump on Tuesday announced via Truth Social a slew of judicial nominees for Missouri and the District of Columbia.
May 06, 2025
Actor Voight, Film Biz Adviser To Trump, Floats Tax Incentives

Actor Jon Voight, whom President Donald Trump tapped as an adviser on the Hollywood film industry, told Trump that tax incentives, international treaties and limited tariffs could revitalize production, while California Gov. Gavin Newsom separately floated a $7.5 billion federal film tax credit, according to statements shared Tuesday with Law360.
May 06, 2025
Stationery Co. Fights Bid To Move Tariff Case To Trade Court

The U.S. Court of International Trade does not have exclusive jurisdiction to hear disputes over President Donald Trump's global tariffs, a stationery company told a Florida federal court Monday in opposing the administration's bid to transfer to the suit.
May 06, 2025
Bessent Eyes IRS' Technology Budget For Major Cuts

The Internal Revenue Service must cut its bloated technology budget and decrease the agency's overall spending, U.S. Treasury Secretary Scott Bessent told a House Appropriations panel Tuesday.
May 06, 2025
Eversheds Sutherland Brings On EY Tax Pro In Atlanta

Eversheds Sutherland has added a former EY senior manager of international tax and transaction services to its Atlanta office, further strengthening its tax practice after adding a dozen tax controversy attorneys from Chamberlain Hrdlicka White Williams & Aughtry PC in March, the firm announced Tuesday.
May 06, 2025
4th Circ. Seems Split On BofA's Post-Merger Tax Offset Claims

The Fourth Circuit seemed split Tuesday on whether Bank of America should be able to use its tax overpayments to offset interest on tax underpayments by companies that merged into it, with one judge pressing the government to respond to what he described as the bank's "common sense" argument in the $163 million case.
May 06, 2025
ND Provides Tax Credit For Employer Child Care Contributions

North Dakota established an income tax credit for employers that help pay for their employees' child care costs under a bill signed by the governor.
May 05, 2025
Credit Suisse To Pay Feds $510.6M For Helping Hide Assets

Credit Suisse Services AG has agreed to shell out more than $510 million under agreements with federal prosecutors in which the company admitted to helping customers hide more than $4 billion from the IRS in hundreds of offshore accounts, the U.S. Department of Justice announced Monday.
May 05, 2025
Feds Say Calif. Tribe's Challenge To Cig Ruling Is 'Fruitless'

The federal government is urging a California federal court not to pause a ruling affirming the Bureau of Alcohol, Tobacco, Firearms and Explosives' decision to place a native tribe on a noncompliance list over cigarette sales, saying the tribe shouldn't be able to upend the status quo as it pursues a "fruitless" appeal to the Ninth Circuit.
May 05, 2025
Trump Seeks 100% Tariff On Foreign-Made Movies

President Donald Trump asked his administration to place a 100% tariff on foreign-made movies, with a spokesperson telling Law360 on Monday that a final decision on the plan hadn't been made.
May 05, 2025
Minn. Tribe Looks To Weigh In On 3,000-Acre Land Trust Row

The Mille Lacs Band of Ojibwe has asked a Minnesota federal judge to let it file a friend of the court brief in a county's case claiming the U.S. government wrongly accepted more than 3,000 acres of land into trust for the tribe.
May 05, 2025
EU Prosecutors Expand Jurisdiction To Poland, Sweden

The European Public Prosecutor's Office's jurisdiction expanded to include Poland and Sweden with the swearing-in of prosecutors to represent both countries, the EPPO said Monday.
May 05, 2025
Clifford Chance Adds Paul Weiss Exec Compensation Atty In NY

Clifford Chance LLP has added a Paul Weiss Rifkind Wharton & Garrison LLP transactional attorney in New York as co-chair of its U.S. executive compensation practice, the firm announced Monday.
May 05, 2025
Fla. Voters To Decide On Property Tax Exemption For Ag Land

Florida will have voters decide via a statewide ballot measure during the state's next general election on a proposed amendment to the state constitution to exempt property on designated agricultural land from taxes under a House joint resolution approved by lawmakers.
May 05, 2025
Novelist Owes $715K In FBAR Penalties, US Says

A Japanese author with U.S. citizenship faces penalties exceeding $715,000 for failing to report accounts she held at a Swiss bank, the U.S. government told a California federal court.
May 02, 2025
Tax Case Can Proceed Despite Late Name Change, Court Says

The owner of a mail-order medical equipment company can move forward with his lawsuit against the federal government seeking to deduct a $5 million settlement payment, even though he didn't technically add his name to the case until after the deadline, the Court of Federal Claims said.
May 02, 2025
US, China Battling Over Entrenched Economies, Experts Say

Differing economic philosophies are contributing to the escalating trade war between the United States and China, according to professionals who follow the countries' relations, with the Chinese government's supply-side ideology rooted in exports and U.S. deficit spending driving demand for imports.
May 02, 2025
Money Laundering, Tax Charges Nixed Vs. Crypto Operator

An Indiana federal judge dismissed the U.S. government's cases against a man accused of operating an unlicensed money transmitting business, laundering proceeds through cryptocurrency transactions and failing to file tax returns after finding his business was not subject to registration requirements, as the government had maintained.

Expert Analysis

National Bank Act Rulings Facilitate More Preemption Analysis

Two recent National Bank Act preemption decisions from an Illinois federal court and the Ninth Circuit provide the first applications of the U.S. Supreme Court’s May ruling in Cantero v. Bank of America, opening the potential for several circuit courts to address the issue this year, say attorneys at Moore & Van Allen.
Series

Collecting Rare Books Makes Me A Better Lawyer

My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.
Opinion

Judge Should Not Have Been Reprimanded For Alito Essay

Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.
Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example

Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
Perspectives

Accountant-Owned Law Firms Could Blur Ethical Lines

KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.
Trump's Energy Plans: Climate, Data Centers, LNG And More

With a host of executive orders addressing climate and emissions policies, expanded energy development, offshore and onshore projects, liquefied natural gas and more, the second Trump administration has already given energy companies much to consider, say attorneys at Gibson Dunn.
AI Will Soon Transform The E-Discovery Industrial Complex

Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.
Unpacking The Legal Foundation Of Trump's New Trade War

President Donald Trump's recent executive orders and proclamations regarding emergencies at the U.S. border are based on statutory powers enabling a president to address extraordinary external threats — and could be used to fend off legal challenges to the tariffs levied on Mexican and Canadian goods, says Chris Zona at Mandelbaum Barrett.
Trump's Energy Plans: Funding, Permits And Nuclear Power

In the wake of President Donald Trump's flurry of first-day executive orders focusing on the energy sector, attorneys at Gibson Dunn analyze what this presidency will mean for energy-related grants and loans, changes to permitting processes and developments in nuclear power.
When Innovation Overwhelms The Rule Of Law

In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.
What Compensation Committees Must Keep In Mind In 2025

New disclosure obligations, an evolving discussion on the analysis of executive perks and updated proxy adviser policies — on top of a new presidential administration — are all important things compensation committees must pay close attention to in 2025, say attorneys at Simpson Thacher.
Anticipating Direction Of Cosmetics Regulation Under Trump

It is unclear how cosmetics regulation reform from the last few years will fare under President Donald Trump, but the new administration's emphasis on deregulation and Robert F. Kennedy Jr.'s views on product safety provide some insight, say attorneys at Crowell & Moring.
IRS Basis-Shifting Rule Poses Notable Reporting Obligations

While the IRS’ recently finalized rule requiring partnerships to report certain related-party basis adjustment transactions is narrower than originally proposed, taxpayers and their advisers will still need to comb through myriad transactions to comply, say attorneys at Debevoise.
Imagine The Possibilities Of Openly Autistic Lawyering

Andi Mazingo at Lumen Law, who was diagnosed with autism about midway through her career, discusses how the legal profession can create inclusive workplaces that empower openly autistic lawyers and enhance innovation, and how neurodivergent attorneys can navigate the challenges and opportunities that come with disclosing one’s diagnosis.
Series

Documentary Filmmaking Makes Me A Better Lawyer

Becoming a documentary filmmaker has allowed me to merge my legal expertise with my passion for storytelling, and has helped me to hone negotiation, critical thinking and problem-solving skills that are important to both endeavors, says Robert Darwell at Sheppard Mullin.