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Tax
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May 19, 2025
Cheesesteak Shop Owner's Sentence For Tax Scheme Vacated
A Philadelphia cheesesteak shop owner sentenced to almost two years in prison for a conspiracy to pay employees under the table could get a lighter sentence after the Third Circuit ruled he was wrongly given extra time for swaying workers who were actually in on the tax scheme.
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May 19, 2025
Takeout Owner Gets Suspended Sentence For VAT Tax Dodge
The former owner of a Chinese takeout restaurant in the U.K. received a one-year prison sentence, which was suspended, for fraudulently disposing property after filing for bankruptcy instead of paying his bill of over £43,000 ($57,000) in value-added tax, the U.K.'s Insolvency Service announced Monday.
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May 19, 2025
US Budget Would Hike Taxes On Foreign Firms, Individuals
Foreign firms and individuals from countries with "unfair" fiscal policies such as digital services taxes, diverted profits taxes and the global minimum tax's backstop would pay higher U.S. taxes under the spending bill approved by the House Budget Committee.
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May 19, 2025
CFTC Should Pay $3M Atty Fees After Sanctions, Firm Says
A foreign exchange firm that won dismissal of a U.S. Commodity Futures Exchange Commission case after a New Jersey federal judge sanctioned the agency for bad faith behavior now says the CFTC should have to pay nearly $3 million for failing to own up to its mistake sooner.
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May 19, 2025
Avenatti Rips 'Draconian' Bid To Add 13 Years To Sentence
Former high-profile attorney Michael Avenatti asked a California federal judge to reject the government's request to tack on more than 13 years to his prison term, saying such a "draconian" result would conflict with a Ninth Circuit ruling wiping out a previous sentence in the fraud case.
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May 16, 2025
Feds Defend Oneida Nation's 500-Acre Land Trust Decisions
The Interior Department says a Wisconsin town's bid to vacate decisions to take 500 acres into trust for the Oneida Nation is meritless, telling a federal court that the municipality fails to meet its Administrative Procedure Act burden to show any bias stemming from the agreement.
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May 16, 2025
Trump Calls On Justices To Stay Block Of Gov't Restructuring
President Donald Trump asked the U.S. Supreme Court on Friday to pause a California federal judge's order temporarily halting agencies from implementing an executive order to plan reorganizations and reductions in force, claiming the lower court's decision has caused confusion and wasted taxpayer dollars.
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May 16, 2025
Korean-Language News Co. Cuts $4.3M Deal In Tax Case
A Korean-language news publication reached a settlement with the U.S. government that will let it pay $4.3 million to resolve an agreed-upon tax judgment of $9.1 million plus interest, according to a stipulated order entered in California federal court.
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May 16, 2025
Despite US-China Tariff Pause, Business Pressures Persist
U.S. importers dodged an effective ban on Chinese imports for now following the U.S. and China suspending higher tariff rates, but companies still foresee higher prices and supply-chain disruptions that will continue to stoke economic anxiety.
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May 16, 2025
Full Pa. Court OKs Panel's Nix Of Tax On Real Estate Transfer
A panel of Pennsylvania appellate judges properly ruled that a state board wrongfully imposed a real estate transfer tax on the transfer of a partnership interest in a real estate company from one trust to another, the court ruled en banc.
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May 16, 2025
Refocus Global Tax Policy On Bilateral Treaties, Attys Say
Global tax policymakers at the OECD and United Nations should return to their original focus of advancing bilateral tax treaties among the countries they cater toward, attorneys said Friday.
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May 16, 2025
Work Agency Loses VAT Deregistration Appeal Over Tax Fraud
An agency worker supply company has lost its latest bid to challenge a decision by the U.K. tax authority to cancel its VAT registration over its alleged links to a tax fraud scheme, as a London appeals court refused its bid on Friday.
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May 16, 2025
Mich. Farm Gets Only Partial Exemption, Court Says
A Michigan property that has farmland, an apple orchard and an area used for tourism activities is eligible for only a partial agricultural exemption, the state appeals court ruled.
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May 16, 2025
Taxation With Representation: Blakes, Davies, Goodmans
In this week's Taxation With Representation, Charter Communications Inc. merges with Cox Communications, Hub International Ltd. boosts its valuation after securing an investment, Pan American Silver Corp. acquires Mag Silver Corp. and Robinhood buys WonderFi.
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May 16, 2025
Holland & Knight Welcomes Tax Partner in Philadelphia
A new partner has joined Holland & Knight LLP's Philadelphia office and will help lead its state and local tax team, the firm announced.
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May 15, 2025
Ga. Atty Gets 16 Months For Role In $1.3B Tax Shelter Scheme
A Georgia attorney has been sentenced to 16 months in federal prison and slammed with an $8 million bill after pleading guilty to helping orchestrate a $1.3 billion tax scheme involving fraudulent conservation easements.
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May 15, 2025
Unions, Groups Seek Injunction To Block Gov't Restructuring
A California federal judge must greenlight a nationwide injunction to stop multiple federal agencies from moving ahead with implementing reorganization and mass termination plans linked to an executive order, a coalition of unions and groups argued, making their request on the heels of a temporary restraining order.
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May 15, 2025
FTZ Holding Can't Stop Duty Refund Clock, Trade Court Rules
The U.S. Court of International Trade ruled Thursday that a cigarette distributor waited too long to seek out duty refunds on its product, explaining that products being held for several years in a foreign-trade zone did not prevent the statutory clock from running.
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May 15, 2025
Ohio Court Upholds Home's $450K Value Based On Sale
The Ohio tax appeals board didn't err in determining that a couple's home was correctly assessed at $450,000 based on its 2020 sale price, a state appeals court said in an opinion released Thursday.
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May 15, 2025
House Tax Bill's Foreign Rules May Finish Off Energy Perks
House Republicans' mammoth tax bill proposes phasing out two popular clean electricity business tax credits, but additional restrictions on eligible development projects' foreign business ties could have the same effect as immediately repealing them.
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May 15, 2025
Conservatives Challenge Title Of Colo. Tax Cut Initiative
A proposed Colorado ballot measure to reduce the state income tax rate by one-hundredth of a percentage point was assigned an unlawfully confusing title by a state board, the conservative activists behind the initiative charged in a petition to the state Supreme Court.
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May 15, 2025
Minn. Justices Affirm $9M Medical Building Tax Valuation
A Minnesota medical building was correctly valued by the state tax court, the state Supreme Court said Wednesday, affirming a decision that boosted the building's original valuation by more than $1 million.
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May 15, 2025
Hawaii Justices Won't Review Honolulu Property Class Case
The Hawaii Supreme Court declined to review an appellate court decision that found a special Honolulu property class did not violate the state and country's equal protection clause.
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May 15, 2025
Penalty Challenge In $14M Estate Tax Case Heads To Trial
A woman who failed to file a tax return for her brother's nearly $14 million estate can move forward with a suit challenging the ensuing IRS penalties, a Rhode Island federal judge ruled, saying a jury might excuse the mistake by finding she relied on flawed legal advice.
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May 14, 2025
Lawmakers Line Up To Unwind Trump's 'Chaotic' IEEPA Tariffs
Nearly 150 members of Congress have thrown their support behind 12 state attorneys general suing to halt the Trump administration's "emergency" tariffs, arguing they far exceed the statutory authority of a president.
Expert Analysis
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Mitigating Tariff Risks For Healthcare In US And Canada
Healthcare stakeholders should take steps to evaluate the impact of cross-border tariffs, as the historically strong ties between Canada and the U.S. demonstrate the potential for real disruption and harm to the healthcare industry in both countries, say attorneys at Norton Rose.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.
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A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.
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Why NY May Want To Reconsider Its LLC Transparency Law
Against the backdrop of the myriad challenges to the federal Corporate Transparency Act, it may be prudent for New York to reconsider its adoption of the LLC Transparency Act, since it's unclear whether the Empire State's "baby-CTA" statute is still necessary or was passed prematurely, say attorneys at Pillsbury.
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IRS Scrutiny May Underlie Move Away From NIL Collectives
The University of Colorado's January announcement that it was severing its partnership with a name, image and likeness collective is part of universities' recent push to move NIL activities in-house, seemingly motivated by tax implications and increased scrutiny by the Internal Revenue Service, say attorneys at Buchanan Ingersoll.
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Opinion
State FCAs Should Cover Local Fund Misuse, State Tax Fraud
New Jersey and other states with similar False Claims Acts should amend them to cover misappropriated municipal funding, and state and local tax fraud, which would encourage more whistleblowers to come forward and increase their recoveries, says Kenneth Levine at Stone & Magnanini.
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from Practical Guidance
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.
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White Collar Archetypes: Wrangling The Shape-Shifter
In white collar criminal trials, certain pieces of evidence can shape-shift in the jury’s eyes, presenting both challenges and opportunities for defense counsel, says Jack Sharman at Lightfoot Franklin.
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Series
Playing Beach Volleyball Makes Me A Better Lawyer
My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.
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Opinion
IRS Should Revise Overbroad Microcaptive Regs
Rather than seeking to curtail use of congressionally sanctioned microcaptive insurance programs by imposing burdensome disclosure obligations, the Internal Revenue Service should revisit its recently finalized regulations and implement rules tailored to address areas of specific abuse, say attorneys at Zerbe Miller.
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Terraform Case May Be Bellwether For Crypto Enforcement
The prosecution of crypto company Terraform Labs and its CEO, Do Kwon, offers a unique test of the line between lawful and unlawful conduct in digital transactions, and the Trump administration’s posture toward the case will provide clues about its cryptocurrency enforcement agenda in the years to come, say attorneys at Brooks Pierce.
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What's Next For Russia Sanctions After Task Force Disbanded
Attorney General Pam Bondi’s recent disbanding of Task Force KleptoCapture, which was initially aimed at seizing Russian oligarchs’ funds and assets, is unlikely to mean the end of Russia sanctions enforcement and other economic countermeasures, as the architecture for criminal enforcement remains in place, say attorneys at BakerHostetler.
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How Law Firms Can Counteract The Loneliness Epidemic
The legal industry is facing an urgent epidemic of loneliness, affecting lawyer well-being, productivity, retention and profitability, and law firm leaders should take concrete steps to encourage the development of genuine workplace connections, says Michelle Gomez at Littler and Gwen Mellor Romans at Herald Talent.
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Texas Fraud Case Shows Dangers Of Faulty Crypto Reporting
The recent sentencing of a man who failed to properly report capital gains from bitcoin sales is a reminder that special attention must be given to the IRS' reporting requirements in order to stay out of the government's crosshairs, says Saverio Romeo at Fox Rothschild.
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Potential Impacts Of IRS' $1M Affiliate Pay Deduction Cap
If finalized, a recent Internal Revenue Service proposal expanding Section 162(m) of the Internal Revenue Code to include the highly compensated employees of affiliates would make tracking which executives may be subject to the limit from year to year far more complex, say attorneys at Debevoise.