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Tax
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March 07, 2025
Grand Rapids Moves Social Equity Fee Dispute To Fed. Court
The city of Grand Rapids, Michigan, is looking to push into federal court a state lawsuit filed by cannabis companies looking to upend the fees, fines and residency requirements of the municipality's social equity program, arguing Friday that their claims all touch on federal issues.
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March 07, 2025
SD Lawmakers Request Study Of Tax Relief For Homeowners
South Dakota instructed its Legislative Research Council to review the state's property tax policies and identify ways to provide property tax relief to homeowners under a concurrent resolution approved by state lawmakers.
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March 07, 2025
Utah Court Affirms Walmart's Collective $52M Property Value
A trio of Utah-based Walmart retail properties were correctly assessed at a collective $52 million for property tax, a Utah appeals court said, finding that a lower court didn't make any errors when valuing the three properties.
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March 07, 2025
Mauritius Government Lawyer Joins CMS Affiliate
CMS said an attorney with more than a decade of experience as a Mauritius government lawyer has joined CMS Prism, the firm's Mauritian affiliate.
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March 07, 2025
Peru Broke Trade Deal, Scotiabank Tells Arbitrators
Scotiabank asked the World Bank's international arbitration institution to consider a new argument in a value-added tax dispute with the Peruvian government, saying Peru's treatment of the bank violated a trade agreement with Canada.
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March 07, 2025
Taxation With Representation: Kirkland, Wachtell, Skadden
In this week's Taxation With Representation, Walgreens Boots Alliance goes private via a deal with Sycamore Partners, Honeywell buys Sundyne from Warburg Pincus, and Jazz Pharmaceuticals acquires Chimerix.
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March 07, 2025
DC Judge Declines To Block DOGE From Treasury Systems
A D.C. federal judge on Friday declined to wall off access to the federal government's payment systems from employees of the so-called Department of Government Efficiency during a lawsuit brought by retirees and union groups, determining the alleged privacy risks were not enough to warrant the court's intervention.
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March 07, 2025
Immigrant Rights Groups Fight IRS Data Sharing With DHS
Two Illinois-based immigrant and Latino rights groups filed a suit Friday seeking to block the Internal Revenue Service from disclosing the names and addresses of taxpayers with taxpayer identification numbers to the U.S. Department of Homeland Security and other agencies with the purpose of enforcing immigration laws.
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March 07, 2025
Jailed Developer Dropped From RICO Foreclosure Suit
A Michigan federal judge dropped a developer from a suit alleging a racketeering scheme stripped homeowners of their foreclosed homes' surplus equity, finding the harm they allege is not tied closely enough to a bribery scheme the developer later pled guilty to.
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March 07, 2025
Minn. Bill Seeks To Subtract OT, Tips, Bonuses From Income
Minnesota would allow taxpayers to subtract the amount of overtime pay, tips and bonuses earned from their gross income under a bill introduced in the state Senate.
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March 07, 2025
Minn. Bills Seek Sales Tax Break For Home Construction
Construction materials for single-family and multifamily homes for first-time homebuyers would be exempt from some Minnesota sales and use taxes under legislation introduced in the state Senate.
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March 07, 2025
10th Circ. Urged To Reject Bid To Nix Microcaptive Notice
The federal government urged the Tenth Circuit to affirm a ruling that rejected a plumbing supply company's request to invalidate an IRS notice that added reporting requirements for certain microcaptive insurance arrangements, saying the lower court correctly found the suit would illegally hinder tax collection.
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March 07, 2025
Goldstein Must Be Tracked Amid 'Ongoing' Crimes, Feds Say
The federal government has doubled down on allegations that U.S. Supreme Court advocate and SCOTUSblog publisher Tom Goldstein has been secretly moving cryptocurrency, urging a federal judge to keep monitoring his electronic devices to prevent him from fleeing tax evasion charges.
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March 07, 2025
How A Showcase Prosecution Collapsed For New Jersey's AG
New Jersey Attorney General Matthew Platkin took a risk that backfired when he used over 100 pages to lay out his case accusing George E. Norcross III, one of the Garden State's most influential businessmen, of leading a racketeering enterprise to deepen his commercial footprint in a struggling city.
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March 07, 2025
Four Men Imprisoned For 43 Yrs For Money Laundering Plot
Four men involved in a plot to launder £266 million ($343 million) in criminal cash were on Friday sentenced to a total of more than 43 years in prison, in one of the biggest cases of its kind ever prosecuted in England.
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March 06, 2025
Feds Say 11th Circ. Should Affirm Value Of Ex-Braves' Farm
Despite dropping a bid for civil fraud penalties this week against two former Atlanta Braves players accused of overvaluing a conservation easement donation, the federal government has told the Eleventh Circuit it still stands by a U.S. Tax Court ruling that the players' valuation of the property was "firmly planted in the realm of fantasy."
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March 06, 2025
Fla. Court Told Cannabis Biz Investor Agreed Not To Sue
The CEO of an Arizona-based cannabis business on Thursday urged a Florida federal court to toss a securities fraud lawsuit brought by an investor alleging an undisclosed $13 million tax liability, saying the investor agreed not to bring claims based on whether critical nonpublic information may have been withheld.
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March 06, 2025
Wheeling & Appealing: The Latest Must-Know Appellate Action
Believe it or not, there's still important litigation happening that doesn't involve President Donald Trump, and the proof exists in this month's circuit court calendars. During the remaining weeks of March, arguments will explore numerous high-profile topics, including a law firm's severe punishment for alleged misconduct in 9/11 litigation and a judicial rebuke of Trader Joe's for "an attempt to weaponize the legal system."
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March 06, 2025
Wyoming Creates Partial Property Tax Break For Homeowners
Wyoming established a tax exemption for a portion of homeowners' properties under a bill signed by the governor.
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March 06, 2025
Mining Co. Seeks Arbitration Of $7B Dispute With Venezuela
The subsidiary of a Bermuda-based mining company asked an international arbitration institution to settle a dispute in excess of $7 billion against the Venezuelan government, saying its actions damaged the company's investments in a mining project.
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March 06, 2025
Trump Gives Mexico A Break Until April From New Tariffs
President Donald Trump announced Thursday an almost monthlong exemption for most Mexican imports to tariffs he had placed on the country over drug trafficking concerns, as Mexico President Claudia Sheinbaum pointed to data showing border seizures of fentanyl dropped 70% since she took office.
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March 06, 2025
Minn. Couple Can't Claim $105K Deduction, High Court Affirms
A Minnesota couple were properly assessed an outstanding income tax liability and disallowed a business loss deduction by the state tax court, the Minnesota Supreme Court ruled.
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March 06, 2025
IRS Can't Defend Slashing Of Easement Value, 11th Circ. Told
Conservation easement donors whose charitable tax deduction was reduced by millions of dollars by the U.S. Tax Court criticized the Internal Revenue Service's defense of the decision, telling the Eleventh Circuit the ruling ignored copious evidence of the property's value underlying the donation's worth.
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March 06, 2025
Bank Of England Official Warns Of US Tariff Threat
U.S. tariffs and related trade tensions could pose "substantial" risks to the U.K. and world economies, Bank of England Governor Andrew Bailey told British lawmakers.
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March 06, 2025
Trump's Value-Added Tax Focus In Tariff Plan Stirs Angst
President Donald Trump's call to target value-added taxes in his reciprocal tariff plan could distort global supply chains and create additional burdens for U.S. companies, contrary to his stated goals of lowering prices for consumers and boosting business, experts told Law360.
Expert Analysis
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How To Clean Up Your Generative AI-Produced Legal Drafts
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.
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Opinion
A Tale Of 2 Trump Cases: The Rule Of Law Is A Live Issue
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.
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Series
Boxing Makes Me A Better Lawyer
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.
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Opinion
Industry Self-Regulation Will Shine Post-Chevron
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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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Roundup
After Chevron
Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 37 different rulemaking and litigation areas.
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Opinion
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Series
Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
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Tracking Implementation Of IRA Programs As Election Nears
As the Biden administration races to cement key regulations implementing the Inflation Reduction Act, a number of the law's programs and incentives are at risk of delay or repeal if Republicans retake control of Congress, the White House or both — so stakeholders should closely watch ongoing IRA implementation and guidance, say attorneys at Squire Patton.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.
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Takeaways From Justices' Redemption Insurance Decision
The U.S. Supreme Court’s recent decision in Connelly v. U.S. examines how to determine the fair market value of shares in a closely held company for estate tax purposes, and clarifies how life insurance held by the company to enable redemption of a decedent’s shares affects that calculation, says Evelyn Haralampu at Burns & Levinson.
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6 Tips For Maximizing After-Tax Returns In Private M&A Deals
With potential tax legislation likely to spur a surge in private business sales, sellers can make the most of after-tax proceeds with strategies that include price allocation and qualified investment options, say Isaac Grossman and Daniel Studin at Morrison Cohen.
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After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1
The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.
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Factors For London Cos. To Consider If Adding US Listings
Recent reports of a continuing valuation gap between London and New York have resulted in some London-listed companies considering U.S. listings to gain an increased investor base, but with various obligations and implications involved in such a move, organizations should consider whether there is a real benefit from trading there, say lawyers at Winston & Strawn.
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Recruitment Trends In Emerging Law Firm Frontiers
BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.