Tax

  • April 05, 2024

    Chrisley Must Pay $755K For Slandering Ga. Tax Worker

    Former reality star and convicted fraudster Michael "Todd" Chrisley must pay $755,000 in damages after a federal jury found this week that he slandered a Georgia Department of Revenue employee who played a bit role in his criminal investigation.

  • April 05, 2024

    Monopolies Will Raise Prices Under Minimum Tax, Expert Says

    The 15% global minimum tax will worsen the problems that monopolistic companies impose on economies because raising taxes on a company that lacks competition will lead it to raise prices, an academic expert on tax havens said Friday during a conference.

  • April 05, 2024

    Homeowners' Energy Efficient Rebates Not Income, IRS Says

    The U.S. Department of Energy rebates awarded to taxpayers who bought an energy efficient home or retrofitted their current residence to reduce energy consumption won't need to be reported in the property owner's gross income, the IRS announced Friday.

  • April 05, 2024

    NC High Court Snapshot: Law Firm Battles Defamation Suit

    The Supreme Court of North Carolina has a stacked calendar heading into spring arguments, from an appeal over Black-owned properties targeted for demolition to a law firm's attempt at dodging defamation claims over allegations of voter fraud.

  • April 05, 2024

    Green Energy Co. Duped Investors Out Of $40M, Suit Says

    A proposed class of investors has hit a purported Chicago green energy outfit and its executives with a federal suit claiming they used promises of extravagant returns to get the plaintiffs to invest but never created any energy or produced the returns they promised. 

  • April 05, 2024

    Judge Won't Recuse Herself From Doctor's NBA Fraud Trial

    A Manhattan federal judge has refused to step away from the case of a Seattle doctor accused of participating in a scheme to defraud the National Basketball Association's health plan, saying there was "no basis" for his bid to oust her after he took issue with the trial schedule and what he described as systemic barriers.

  • April 05, 2024

    18 Crime Gangs Specialize In VAT Fraud, Europol Says

    Eighteen major criminal gangs in the European Union specialize in value-added tax fraud, having end-to-end control over the entire criminal process, the EU's law enforcement agency said Friday.

  • April 04, 2024

    Jury Clears Exec From Penalties In Captive Insurance Case

    An insurance executive and three of his companies won't face tax penalties for promoting an illegitimate insurance arrangement, a Florida federal jury ruled Thursday.

  • April 04, 2024

    Snell & Wilmer Adds Former McDermott Partner In Dallas

    A former McDermott Will & Emery partner and tax specialist has joined Snell & Wilmer's Dallas office to advise clients on cross-border transactions, particularly in Latin America and Mexico.

  • April 04, 2024

    NC Tax Fraud Trial Evidence Bids Get Lukewarm Reception

    A North Carolina federal judge on Thursday seemed reluctant to limit certain evidence against two attorneys and an insurance agent in their upcoming tax fraud trial, saying some of it seemed pertinent to the government's quest to prove intent but suspected other information might be construed by jurors as "petty."

  • April 04, 2024

    Hawaii Cannabis Legalization Bill Dies In State House

    An effort to legalize adult-use marijuana in Hawaii is effectively dead for this legislative session after Democrats in the state House of Representatives announced they would not deliberate any further on a proposal that had already cleared the state Senate this year.

  • April 04, 2024

    NY AG Wants Trump Insurer To Guarantee $175M Bond

    New York Attorney General Letitia James asked a Manhattan judge Thursday to make sure the California insurer that agreed to post Donald Trump's $175 million bond in his civil business fraud case can actually pay.

  • April 04, 2024

    Attys Awarded $1.5M In Fees On Tax Disclosure Suit

    Attorneys who won a $4.5 million settlement for a class of investors claiming a Chinese startup misrepresented its tax liability will receive their requested $1.5 million in attorney fees, a New York federal judge ruled.

  • April 04, 2024

    Md. Lessee Owes Tax On Gov't Property, Appeals Court Says

    A lessee of government property in Maryland that was sublet to other users was correctly denied a partial property tax abatement, the state appeals court has said, even though some subtenants were government entities.

  • April 04, 2024

    Ex-IRS Agent Caused $42.5M In Tax Loss As Preparer, US Says

    A tax preparer who once worked for the Internal Revenue Service should be permanently barred from preparing federal returns because he caused an estimated $42.5 million in tax losses by scheming to underestimate his clients' liabilities, the government told a Washington federal court.

  • April 04, 2024

    Beyoncé's $3M Tax Trial Postponed

    The trial scheduled for May in Beyoncé's challenge to a $3 million tax deficiency has been delayed, according to an order Thursday by the U.S. Tax Court.

  • April 04, 2024

    Project Owners Eager To Sell Energy Tax Credits, Report Says

    Project owners are pursuing new financing strategies that would support the early sale of their clean energy tax credits as more projects in their initial development stage this year seek to capitalize on the incentives as early as possible, a report released Thursday said.

  • April 03, 2024

    NJ Tax Preparer Accused Of $150M COVID Relief Fraud

    A New Jersey tax preparer has been indicted over what prosecutors are calling a yearslong scheme in which he filed more than 1,600 bogus tax forms seeking over $150 million in COVID-19-related employment tax credits for his clients and his own businesses that they weren't eligible for, the U.S. Department of Justice announced Wednesday.

  • April 03, 2024

    Trump's Late Immunity Motion Fails To Halt Hush Money Trial

    A New York judge on Wednesday rejected Donald Trump's effort to delay his hush money trial based on his claimed presidential immunity from criminal prosecution, keeping the historic case on track for jury selection later this month.

  • April 03, 2024

    Colo. Says Trial Unnecessary In Transportation Funding Fight

    Colorado told a state judge that a conservative group did not need a trial to "further develop the record" in its challenge to a transportation funding law, arguing that the group had its chances in discovery but only named a single witness, who can't testify about how the state law works.

  • April 03, 2024

    4 Atty Takeaways From DOL's Asset Manager Exemption

    The U.S. Department of Labor's final regulation limiting investment managers with serious misconduct on their records from handling Employee Retirement Income Security Act-covered retirement plans backed away from some controversial aspects of the agency's initial proposal, but still imposes significant new compliance obligations on plan sponsors, attorneys say. Here are four key takeaways from the final amendment released Tuesday.

  • April 03, 2024

    McDermott Adds Ex-Baker McKenzie Tax Pro In Chicago

    The former chair of Baker McKenzie's Chicago tax practice group has joined McDermott Will & Emery LLP and will work as a partner in the firm's Chicago office, McDermott said Wednesday.

  • April 03, 2024

    Veteran Atty Joins Saxton & Stump To Co-Chair Estates Group

    A seasoned attorney with more than 40 years of experience in tax law and estate planning has joined Saxton & Stump in Harrisburg, Pennsylvania, after practicing for four years with local firm Johnson Duffie Stewart & Weidner.

  • April 03, 2024

    UK Seeks To Share Country-Level Tax Reports, Official Says

    The U.K. government wants to allow low-income countries greater access to country-by-country reports of multinational corporations' tax data as a way to help them recover revenue that they're owed, a Cabinet official said Wednesday.

  • April 03, 2024

    Trump Ally Brings Ethics Query Over Judge's CNN Interview

    An ally of Donald Trump has raised ethics concerns about a senior D.C. federal judge, complaining that the judge's statements on CNN about the former president's statements about the judiciary was "highly prejudicial" toward Trump's four pending criminal cases.

Expert Analysis

  • The Case For Post-Bar Clerk Training Programs At Law Firms

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    In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.

  • IRS Proposal May Help Clarify Donor-Advised Fund Excise Tax

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    Recently proposed regulations provide important clarifications of the Internal Revenue Code's excise tax on donor-advised fund distributions by providing detailed definitions of key terms and addressing some of the open issues related to their operation and administration, say attorneys at Morgan Lewis.

  • Ohio Voters Legalize Cannabis — What Comes Next?

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    This month, voters approved a citizen-initiated statute that legalizes marijuana for recreational use in Ohio, but the legalization timeline could undergo significant changes at the behest of the state's lawmakers, say Daniel Shortt and David Waxman at McGlinchey Stafford.

  • Opinion

    A Telecom Attorney's Defense Of The Chevron Doctrine

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    The Chevron doctrine, which requires judicial deference to federal regulators, is under attack in two U.S. Supreme Court cases — and while most telecom attorneys likely agree that the Federal Communications Commission is guilty of overrelying on it, the problem is not the doctrine itself, says Carl Northrop at Telecommunications Law Professionals.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

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    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Mo. Solar Projects Need Clarity On Enterprise Zone Tax Relief

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    In Missouri, enhanced enterprise zones offer tax abatements that could offset the cost of solar project infrastructure, but developers must be willing to navigate uncertainty about whether the project is classified as real property, say Lizzy McEntire and Anna Kimbrell at Husch Blackwell.

  • AI Can Help Lawyers Overcome The Programming Barrier

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    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • What To Expect After Colo. Nixes Special Standing Rules

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    Two recent Colorado Supreme Court decisions have abandoned a test to preclude standing in lawsuits challenging government decisions brought by subordinate government entities, which will likely lead to an admixture of results, including opening the door to additional legal challenges between government entities, says John Crisham at Crisham & Holman.

  • Preparing Law Students For A New, AI-Assisted Legal World

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    As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.

  • General Counsel Need Data Literacy To Keep Up With AI

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    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

  • Kentucky Tax Talk: Clash Over Industrial Supplies Exemption

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    Recent legislative testimony in Kentucky may cause another battle over the state's sales tax exemptions for industrial supplies, even though the testimony appears to mischaracterize the impact of a major state court ruling that upheld the exemptions, say attorneys at Frost Brown.

  • Navigating Discovery Of Generative AI Information

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    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • How Fla. Bankruptcy Ruling May Affect Equity Owners

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    A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.

  • What Ariz. Ruling Means For Taxation Of Digital Services

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    The Arizona Supreme Court recently declined to review ADP v. Arizona Department of Revenue, letting stand a state appeals court's ruling that software as a service is a taxable rental of tangible personal property, essentially granting the department of revenue power to tax all digital services, say Karen Lowell and Pat Derdenger at Lewis Roca.

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