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Tax
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November 14, 2025
US Expatriations Rise To 1,600 In 3rd Quarter, IRS Says
The number of people who lost or renounced their U.S. citizenship totaled 1,600 in the third quarter as logged by the U.S. Treasury Department, a 50% increase from the previous quarter, the IRS said Friday.
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November 13, 2025
Eaton Witnesses Probed About Data Used For Credit Analysis
An accounting expert and a former Eaton Corp. official both advised the U.S. Tax Court on Thursday about the data used to establish the financial position of the U.S. company after its acquisition of Irish-based Cooper Industries in 2012.
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November 13, 2025
Clean Energy Cos. Tap Private Cash To Beat Tax Credit Clock
Clean energy developers are increasingly looking to privately held investors to ensure they can do enough work to keep their projects fully eligible for tax credits that start phasing out next year, energy development attorneys told Law360.
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November 13, 2025
Latin American Trade Deals With US Include Zero Tariff Rates
Latin American countries including El Salvador, Guatemala, Ecuador and Argentina committed to nontariff reductions for U.S. producers in exchange for a zero tariff rate on many imports not readily available in the U.S., under details of framework trade agreements the White House unveiled Thursday.
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November 13, 2025
High Court's Tariff Ruling May Trigger Refunds, Reimposition
Importers are being advised to prepare for potential refunds in the event the U.S. Supreme Court rules President Donald Trump's emergency tariffs are unlawful, leaving questions about how a refund process might play out and whether the duties would be reimposed.
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November 13, 2025
Oregon Court Upholds $119M Value Of Office Building
The owner of an Oregon office building, one of three contiguous structures serving as a corporate campus, did not show sufficient evidence to change the assessment of a local assessor, the state tax court said in upholding a $119 million valuation.
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November 13, 2025
Fuel Excise Tax Is Most Used Carbon Measure, OECD Says
Fuel excise taxes are the most common measure aimed at curbing greenhouse gas emissions, according to a report released Thursday by the Organization for Economic Cooperation and Development, which noted that these provisions covered 24% of 79 countries' emissions in 2023.
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November 13, 2025
MVP: Kirkland's Adam Kool
Adam Kool, a tax partner at Kirkland & Ellis LLP, spent the past year advising on high-profile, industry-transforming transactions. Kool's work on AbbVie's $63 billion acquisition of the pharmaceutical giant Allergan, GTCR's pending $24.25 billion sale of global payment processing company Worldpay and other billion-dollar transactions has earned him a spot as one of the 2025 Law360 Tax MVPs.
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November 13, 2025
Trump Org. Pushes DC Circ. To Back IRS Leaker's Sentence
President Donald Trump's private business organization said it opposes any reduction to the five-year prison sentence of the former IRS contractor who leaked Trump's tax returns and thousands of others, telling the D.C. Circuit the leaker has been shown enough leniency.
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November 13, 2025
Mass. Board Won't Limit Condo Value For Co-Op Member
A Boston condominium owned by a cooperative was correctly assessed, a Massachusetts panel ruled in a decision released Thursday, declining to reduce the tax valuation to the amount the co-op's remaining shareholder said she could receive for her shares.
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November 13, 2025
'Antiquated' Mass. Condo Unit Overvalued, Tax Board Says
A standalone condominium unit in Massachusetts was overvalued, the state Appellate Tax Board said in a decision released Thursday, agreeing with the owners that the property lacked the updates of those used for value comparisons by the local assessor.
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November 13, 2025
ECJ Rules VAT Exemption Can't Hinge On Missing Documents
European Union member states cannot deny value-added tax exemptions solely due to improperly filed paperwork if companies can still prove that they sold cross-border goods within the bloc, the EU's top court ruled Thursday.
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November 13, 2025
Ohio Lawmakers OK Property Tax Valuation Process Changes
Ohio would make changes to its process for adjusting proposed property values for tax purposes under a bill unanimously approved by state lawmakers and headed to Gov. Mike DeWine.
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November 13, 2025
Businessman Too Late To Challenge £5M Tax Evasion Penalty
A businessman's attempt to challenge a civil value-added tax evasion penalty of almost £5 million ($6.6 million) was refused because it was launched in breach of the time limit for appeals, a London tribunal ruled.
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November 13, 2025
IRS Increases Retirement Fund Contribution Limits
The Internal Revenue Service on Thursday announced the increased limit for contributions to various retirement accounts, including upping the 401(k) limit to $24,500.
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November 12, 2025
Ports Warn USTR Against China Ship Fees, Crane Tariffs
The U.S. Trade Representative should reconsider tariffs on Chinese cranes and fees on Chinese and other foreign ships while those measures are suspended for the next year as part of a trade truce between China and the U.S., according to comments recently submitted by a U.S. port industry association.
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November 12, 2025
Illinois Court Says Tax Board Overstepped In Appeal Dismissal
The Illinois Property Tax Appeal Board exceeded its statutory authority when it decided to sanction a commercial property owner by dismissing two tax appeals over the property, a state appellate panel said Wednesday.
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November 12, 2025
FERC Can't Order Refund Of Extra Tax Costs, DC Circ. Told
The Federal Energy Regulatory Commission requiring an Energy Transfer LP unit to refund customers extra costs tacked onto its rates for deferred federal income tax reasons was unlawful retroactive ratemaking, the subsidiary told the D.C. Circuit, urging a reversal of the commission's order.
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November 12, 2025
Geico Loses Bid To Dismiss $70M SC Tax Collection Suit
A nonprofit representing South Carolina's 271 incorporated municipalities can continue to pursue its claims that Geico failed to fully pay certain municipalities nearly $70 million in business license taxes and penalties, a South Carolina federal court ruled Wednesday, rejecting the company's position that the nonprofit lacks such tax collection authority.
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November 12, 2025
MVP: Eversheds Sutherland's Maria Todorova
Eversheds Sutherland's Maria Todorova secured a pivotal win for Duke Energy by successfully arguing that South Carolina's investment tax credit statute allowed the company to claim $20 million for qualifying investments, earning her a spot as one of the 2025 Law360 Tax MVPs.
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November 12, 2025
DOJ Fights Claim That IRS Unlawfully Shared Info With ICE
The Trump administration has said the IRS complied with regulations when considering information requests from immigration enforcement officials, urging a D.C. federal judge to deny advocacy groups' request to submit a supplemental filing asserting that documents it turned over show otherwise.
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November 12, 2025
Virgin Islands Gives 90-Day Tax Amnesty For Storm Recovery
The U.S. Virgin Islands established a 90-day amnesty period to waive penalties for overdue property, income and gross receipts taxes to help residents and businesses recovering from Hurricanes Irma and Maria and Tropical Storm Ernesto under a bill signed by the governor.
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November 12, 2025
UK Banker Bonus Changes Could Boost Treasury Coffers
The U.K.'s relaxation of bonus rules for bankers may result in a tax windfall for HM Treasury along with what financial advisers expect to be a rise in the use of certain investment planning strategies, particularly those used to fund startups.
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November 12, 2025
Irish Corp. Tax Receipts Face Added Volatility Over US Tariffs
Ireland's corporate tax receipts in the near term may see a boost after a pharmaceutical group front-loaded exports to the U.S. ahead of expected tariffs on imported pharmaceuticals, but the overall impact of tariffs on the year-to-year revenue haul is expected to be incredibly volatile, an Irish budget watchdog said Wednesday.
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November 12, 2025
Texas Pick Among 3 Formally Tapped For District Court Seats
President Donald Trump announced on Wednesday three nominees for federal judgeships in Texas, Arkansas and Alaska, which have been anticipated for a few weeks.
Expert Analysis
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Series
Law School's Missed Lessons: Navigating Client Trauma
Law schools don't train students to handle repeated exposure to clients' traumatic experiences, but for litigators practicing in areas like civil rights and personal injury, success depends on the ability to view cases clinically and to recognize when you may need to seek help, says Katie Bennett at Robins Kaplan.
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Opinion
4 Former Justices Would Likely Frown On Litigation Funding
As courts increasingly confront cases involving hidden litigation finance contracts, the jurisprudence of four former U.S. Supreme Court justices establishes a constitutional framework that risks erosion by undisclosed financial interests, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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Practical Implications Of SEC's New Crypto Staking Guidance
The U.S. Securities and Exchange Commission's recent staff guidance that protocol staking does not constitute securities offerings provides a workable compliance blueprint for crypto developers, validators and custodial platforms willing to keep staking strictly limited to protocol-driven rewards, say attorneys at Cahill.
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How Attys Can Use AI To Surface Narratives In E-Discovery
E-discovery has reached a turning point where document review is no longer just about procedural tasks like identifying relevance and redacting privilege — rather, generative artificial intelligence tools now allow attorneys to draw connections, extract meaning and tell a coherent story, says Rose Jones at Hilgers Graben.
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AbbVie Frees Taxpayers From M&A Capital Loss Limitations
The U.S. Tax Court’s June 17 opinion in AbbVie v. Commissioner, finding that a $1.6 billion break fee was an ordinary and necessary business expense, marks a pivotal rejection of the Internal Revenue Service’s position on the tax treatment of termination fees related to failed mergers or acquisitions, say attorneys at Holland & Knight.
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Series
Georgia Banking Brief: All The Notable Legal Updates In Q2
The second quarter brought a number of significant legislative and regulatory changes for Georgia banking, including an extension of the intangibles tax exemption for short-term notes, modernization of routine regulatory practices, and new guardrails against mortgage trigger leads, says Walter Jones at Balch & Bingham.
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Series
Playing The Violin Makes Me A Better Lawyer
Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo.
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Series
Law School's Missed Lessons: Practicing Self-Care
Law schools don’t teach the mental, physical and emotional health maintenance tools necessary to deal with the profession's many demands, but practicing self-care is an important key to success that can help to improve focus, manage stress and reduce burnout, says Rachel Leonard at MG+M.
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Nev. Steps Up Efforts To Attract Incorporations With New Law
Recent amendments to Nevada corporate law, which will narrow controlling stockholders’ liability, streamline mergers and allow companies to opt out of jury trials, show the interstate competition to attract new and reincorporating companies is still heating up, say attorneys at Simpson Thacher.
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ABA Opinion Makes It A Bit Easier To Drop A 'Hot Potato'
The American Bar Association's recent ethics opinion clarifies when attorneys may terminate clients without good cause, though courts may still disqualify a lawyer who drops a client like a hot potato, so sending a closeout letter is always a best practice, say attorneys at Thompson Hine.
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Federal Construction Considerations Amid Policy Overhaul
The rapid overhaul of federal procurement, heightened domestic sourcing rules and aggressive immigration enforcement are reshaping U.S. construction, but several pragmatic considerations can help federal contractors engaged in infrastructure and public construction avoid the legal, financial and operational fallout, say attorneys at Cozen O'Connor.
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Can Companies Add Tariffs Back To Earnings Calculations?
With the recent and continually evolving tariffs announced by the Trump administration, John Ryan at King & Spalding takes a detailed look at whether those new tariffs can be added back in calculating earnings before interest, taxes, depreciation and amortization — an important question that may greatly affect a company's compliance with its financial covenants.
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Series
My Opera And Baseball Careers Make Me A Better Lawyer
Though participating in opera and the world of professional baseball often pulls me away from the office, my avocations improve my legal career by helping me perform under scrutiny, prioritize team success, and maintain joy and perspective at work, says Adam Unger at Herrick Feinstein.
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A Look At DOJ's Dropped Case Against Early Crypto Operator
The prosecution of an early crypto exchange operator over alleged unlicensed money transmission was recently dropped in Indiana federal court, showcasing that the U.S. Justice Department may be limiting the types of enforcement cases it will bring against digital asset firms, say attorneys at Greenberg Traurig.
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8 Ways Lawyers Can Protect The Rule Of Law In Their Work
Whether they are concerned with judicial independence, regulatory predictability or client confidence, lawyers can take specific meaningful actions on their own when traditional structures are too slow or too compromised to respond, says Angeli Patel at the Berkeley Center of Law and Business.