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Tax
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April 11, 2025
Trump Tariffs Will Hurt US Worse Than EU, Bloc Official Says
The wide-ranging tariffs imposed by President Donald Trump's administration, including those that were recently paused for 90 days, will harm the U.S. worse than the European Union, the bloc's economic commissioner said Friday.
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April 11, 2025
3 Convicted Of Driving €24M Car Sales VAT Fraud Ring
A German court convicted and sentenced three ringleaders of a value-added tax fraud scheme that used a series of shell companies and fake invoices to dodge €24 million ($27 million) in owed value-added taxes, the European Public Prosecutor's Office said Friday.
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April 11, 2025
Nursing Home Owner Gets 3 Years For $39M Tax Fraud
A New Jersey federal judge sentenced a nursing home operator to three years in prison for a $39 million employment tax fraud scheme involving care centers he owned across the country, a term three times as long as what prosecutors had requested.
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April 11, 2025
Mich. Top Court Won't Hear Appeal Of $217M Dam Repair Tax
The Michigan Supreme Court on Friday said it wouldn't hear an appeal from a host of homeowners challenging a $217 million special assessment to fund the repair of dams and restoration of lakes after 2020 floods that devastated mid-Michigan counties.
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April 11, 2025
Taxation With Representation: Norton Rose, Ropes & Gray
In this week's Taxation With Representation, Capri Holdings sells Versace to Prada, Woodside Energy sells a liquefied natural gas terminal stake to Stonepeak, crypto infrastructure firm Ripple acquires prime brokerage platform Hidden Road, and Bain Capital takes a stake in Lincoln Financial.
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April 10, 2025
Immigration Groups Seek Unredacted Tax Data-Sharing Pact
Immigration advocates trying to block the Internal Revenue Service from disclosing taxpayers' information to the U.S. Department of Homeland Security and other agencies urged a D.C. federal court on Thursday to require the Justice Department to hand over an unredacted version of a government agreement to share the confidential data.
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April 10, 2025
Calif. Rep's Bill Would Shield Farmers From Retaliatory Tariffs
A California congressman on Thursday introduced a bill in the U.S. House aiming to curb the authority of President Donald Trump to impose new or additional duties on agricultural products from countries that are major agricultural trade partners with the United States.
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April 10, 2025
Exec Facing Tax Evasion Charges To Remain In Custody
An aerospace company founder facing tax evasion and other fraud charges will remain in pretrial detention because he's considered a major flight risk, a D.C. federal court ruled.
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April 10, 2025
Senate Bill Would End Declared Emergency Behind Tariffs
A bill introduced Thursday in the Senate would end the national emergency declared by President Donald Trump to underpin the global tariff regime he unveiled last week, with Sens. Rand Paul, R-Ky., Ron Wyden, D-Ore., and Chuck Schumer, D-N.Y., among the sponsors.
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April 10, 2025
Trump's Int'l Trade Pick Says Tech Deals Sought In Tariff Talks
President Donald Trump could look to prioritize and coordinate tech investments with countries approaching the U.S. to strike a deal to avoid higher tariff rates currently suspended, Trump's pick to lead international trade at the U.S. Department of Commerce said Thursday.
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April 10, 2025
IRS-ICE Deal Could Cost $25B In Tax Revenue, Report Says
The Internal Revenue Service's agreement to share the taxpayer records of certain non-U.S. citizens with immigration enforcement authorities could lead to a $25 billion loss in tax revenue in 2026, according to research from Yale University.
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April 10, 2025
Pa. Justices Try To Referee Pittsburgh's 'Jock Tax'
Pennsylvania's Supreme Court justices looked to punt Thursday on whether the city of Pittsburgh's "jock tax" was uniform enough to pass constitutional muster, taking the unusual step of ordering extra briefing on how the city might offer tax credits for the 3% levy it put on nonresident entertainers' income earned at publicly funded venues.
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April 10, 2025
Dechert Tax Pro Jumps To Whiteford In NY
Whiteford Taylor & Preston LLC has added an experienced transactional tax attorney from Dechert LLP as a partner to its practice in New York, the firm announced.
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April 10, 2025
IRS Microcaptive Rules Face Challenge By Familiar Foe
A microcaptive insurance advisory firm that persuaded a Tennessee federal court to vacate an IRS notice imposing reporting requirements challenged the agency's new rules on the in-house arrangements, asking the same court to set aside the regulations for being just as onerous as the previous ones.
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April 10, 2025
EU Delays Tariffs After Trump's 90-Day Hold
The European Union will delay tariffs on U.S. goods following President Donald Trump's decision to hold off on imposing them on European goods for 90 days, the president of the European Commission said Thursday.
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April 09, 2025
'Evasive' Unions Told To List Fired Probationary Workers
The California federal judge who ordered the reinstatement of many fired probationary federal workers before the U.S. Supreme Court stayed his ruling on Wednesday ordered the public sector unions representing federal staffers to provide a list of their booted members, calling their claims that the information would be difficult to produce "evasive."
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April 09, 2025
Mass. Town's Comparable Sales Rejected By Tax Board
A three-family apartment building in Massachusetts was overvalued by a local assessor by about $40,000, the Massachusetts Appellate Tax Board ruled, saying the owner's argument that the assessed value was greater than fair cash value proved persuasive.
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April 09, 2025
Trump Halts Reciprocal Tariffs For 90 Days, Ups China Rates
President Donald Trump has ordered a 90-day pause on reciprocal tariffs for certain countries hours after they took effect, except for China, whose imports he said now face an increased tariff of 125%, according to a Wednesday social media post.
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April 09, 2025
IRS Acting Chief To Stay On Through Mid-May, Treasury Says
The Internal Revenue Service's interim leader, Melanie Krause, will stay at her post through May 15, the U.S. Treasury Department said Wednesday, after she and other officials reportedly said they would resign following an IRS agreement to share taxpayer information with immigration enforcement agencies.
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April 09, 2025
Canada Retaliates With 25% Tariffs On US Cars And Parts
Canada began slapping 25% tariffs on American cars and parts Wednesday as retaliation against tariffs on Canadian products implemented by President Donald Trump, the country's Department of Finance announced.
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April 09, 2025
EU Votes To Hike Levies In Response To US Metal Tariffs
The European Union approved raising tariffs on U.S. goods in response to President Donald Trump's tariffs on steel and aluminum imposed in March, although the bloc has not yet made public the final list of products affected.
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April 08, 2025
Colo. Appeals Court Urged To Toss Transportation Fees
Colorado's 2021 transportation funding law violates the state Taxpayer's Bill of Rights and related provisions, an anti-tax group told an appeals court panel Tuesday, urging it to reverse a district court order that stopped its lawsuit.
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April 08, 2025
Feds Call Exec Charged With Tax Evasion A Flight Risk
An aerospace company founder facing tax evasion and other fraud charges should remain in pretrial detention because he's a major flight risk, prosecutors told a D.C. federal court.
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April 08, 2025
IT Staffing Co. CEO Charged With $2M Payroll Tax Fraud
The chief executive officer of a Philadelphia-area information technology staffing firm was charged with failing to collect and pay $2 million in trust fund taxes on behalf of his company and also perjuring himself in his Chapter 13 bankruptcy proceedings.
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April 08, 2025
Tax-Dodging Ex-Software Exec Denied Bond Pending Appeal
A former software executive sentenced to a year in prison for failing to pay over $600,000 in employment taxes in the years before his company failed cannot remain free on bond while he appeals his conviction, a North Carolina federal judge said Tuesday.
Expert Analysis
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Hydrogen Regs Will Provide More Certainty — If They Survive
Newly finalized regulations implementing the Section 45V clean hydrogen tax credit allow producers more flexibility, and should therefore help put the industry on more solid footing — but the incoming Trump administration and Republican Congress will have multiple options for overturning or altering the regulations, say attorneys at Steptoe.
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5 E-Discovery Predictions For 2025 And Beyond
In the year to come, e-discovery will be shaped by new and emerging trends, from the adoption of artificial intelligence provisions in protective orders, to the proliferation of emojis as a source of evidence in contemporary litigation, say attorneys at Littler.
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What's Ahead As Transparency Act Comes To A Crossroads
Synthesizing the contrasting federal district and appellate court rulings on the Corporate Transparency Act’s validity reveals several main areas of debate that will likely remain at issue as challenges to the law continue winding through the courts, say attorneys at Farella Braun.
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Final Hydrogen Tax Credit Regs Add Flexibility For Producers
The recently released final regulations implementing the Inflation Reduction Act's clean hydrogen production tax credit offer taxpayers greater flexibility, reducing risk and creating more certainty for investments in the industry, thus diminishing — but not eliminating — the risk of legal challenges to the regulations, say attorneys at Steptoe.
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5 Evolving Concerns For Family Offices In 2025
Complex regulatory changes and emerging operational risks will force family offices to stay on their toes in 2025, with timely action particularly necessary to address several tax and reporting developments that may affect their investments and business operations, say attorneys at Morgan Lewis.
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Series
Illinois Banking Brief: All The Notable Legal Updates In Q4
While the last quarter of 2024 didn't bring any notable state financial legislation, Illinois banks did see developments in the challenge to the Interchange Fee Prohibition Act, and received some awaited guidance on credit line disclosures and bank-fintech relationships, say attorneys at Dykema.
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7 Ways 2nd Trump Administration May Affect Partner Hiring
President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.
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E-Discovery Quarterly: Rulings On Custodian Selection
Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.
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A Look At PCAOB's Record-Breaking Enforcement In 2024
The Public Company Accounting Oversight Board in 2024 brought more enforcement actions against auditors and imposed increasingly higher monetary penalties, showing that it was not afraid to exercise its power to fine and reprimand firms, a trend that will likely continue in 2025, say attorneys at Briglia Hundley.
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Series
Exercising On My Peloton Bike Makes Me A Better Lawyer
While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.
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Exploring Venue Strategy For Trump-Era Regulatory Litigation
Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
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Series
Playing Esports Makes Me A Better Lawyer
Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.
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How Changes In State Gift Card Laws May Affect Cos. In 2025
2024 state legislative movements around the escheatment of unused gift card balances and consumer fraud protections should prompt issuers to consider whether changes in company domicile or blanket cash-back policies are needed in the new year, say attorneys at Alston & Bird.
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An Associate's Guide To Career Development In 2025
As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.
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Series
Fixing Up Cars Makes Me A Better Lawyer
From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.