Try our Advanced Search for more refined results
Tax
-
June 24, 2024
BREAKING: Justices To Review If Trustee Can Recover Tax Payments
The U.S. Supreme Court on Monday said it would review a Tenth Circuit decision that found that the bankruptcy trustee of a defunct Utah company seeking Chapter 7 protection could recover $145,000 in tax payments from the IRS.
-
June 21, 2024
Manhattan DA Seeks To Retain Trump Gag Order, Amid Threats
The Manhattan District Attorney's Office urged a New York state judge Friday to leave in place most restrictions of the gag order preventing Donald Trump from speaking publicly about witnesses, jurors and others tied to his criminal trial, citing a barrage of threats from his supporters in recent months — including "actionable" death threats before and after the verdict.
-
June 21, 2024
Fed. Circ. Backs Subsidy Duties For Canadian Wind Towers
A Canadian wind tower manufacturer can't get a break on countervailing duties despite being upfront about errors in its sales data, with the Federal Circuit ruling Friday that the errors raise the possibility of additional mistakes.
-
June 21, 2024
Ohio House Bill Would Tax Car Condos As Residential Parcels
Ohio would classify car condominiums as residential property for property tax purposes under a bill introduced in the state House of Representatives.
-
June 21, 2024
Ayahuasca Church Is Not Tax-Exempt, DC Circ. Affirms
An Iowa church that used a psychedelic drug in its rites was correctly denied tax-exempt status, the D.C. Circuit affirmed Friday, saying the church's main purpose is using a federally illegal drug for which it lacked approval for religious use.
-
June 21, 2024
Ex-Chicago Alderman Burke Can't Delay Sentencing
Former Chicago Alderman Ed Burke can't postpone his Monday sentencing on charges of racketeering, extortion and bribery to await a U.S. Supreme Court ruling on the scope of federal bribery law, an Illinois federal judge ruled Friday, saying that decision will have "little or no impact" on Burke's fate.
-
June 21, 2024
Holland & Knight Hires Kirkland & Ellis Partner In Houston
Holland & Knight LLP has hired a former Kirkland & Ellis LLP partner in Texas, who focuses his practice on income tax matters and the tax aspects of cross-border and complex transactions, the firm announced Thursday.
-
June 21, 2024
Ex-Mass. Pol Hit With New Charges In COVID Fraud Case
A former Massachusetts state senator already accused of pandemic-related fraud has been charged alongside his sister with attempting to cover up a scheme to make him eligible for unemployment benefits, the U.S. attorney's office announced Friday.
-
June 21, 2024
Taxation With Representation: Travers Smith, Potamitis Vekris
In this week's Taxation With Representation, RSK Group Ltd. gets a £500 million ($632 million) investment, Boston Scientific Corp. acquires Silk Road Medical Inc., Masdar takes a part of Terna Energy SA, and Tate & Lyle PLC buys CP Kelco from JM Huber Corp.
-
June 20, 2024
Trump Calls For Engoron's Recusal In Civil Fraud Case
Former President Donald Trump and other defendants fighting a $465 million civil fraud judgment called on New York Supreme Court Justice Arthur Engoron to recuse himself Thursday in light of a once-suspended real estate attorney's recent judicial misconduct claims, which have since sparked a judicial investigation.
-
June 20, 2024
Calif. High Court Strikes Anti-Tax Measure From Nov. Ballot
A ballot measure that would make it more difficult to raise taxes in California would revise the state constitution and cannot be enacted by citizen initiative, the state's highest court held Thursday in an opinion that ordered the measure struck from the ballot.
-
June 20, 2024
Ind. Rental Property Value Incorrectly Increased, Board Says
An Indiana rental property's assessment will be reduced to its value from a previous tax year because the local assessor's market-based rent analysis failed to support an increased valuation, the state tax review board determined.
-
June 20, 2024
Mich. Insurer Owes Tax On Mailed Ads, Appeals Court Says
A Michigan life insurance company owes use tax on advertisements mailed by an out-of-state contractor, the Michigan Court of Appeals ruled Thursday, upholding a lower court's decision.
-
June 20, 2024
China Denies Tax Crackdown As 2 Cos. Report $80M In Bills
China's tax authority denied a nationwide crackdown on companies' old tax returns Thursday, less than a week after a chemical firm facing 500 million yuan ($69 million) in additional liabilities halted production and a beverage maker reported owing 85 million yuan.
-
June 20, 2024
Ore. Water Treatment Plant Not On Farmland, Tax Court Says
Portions of farmland used for a wastewater treatment facility were correctly denied a special farm-use assessment rate, the Oregon Tax Court said, allowing the special rate for other contested areas of the property.
-
June 20, 2024
Ind. Car Wash Valued Correctly, State Tax Board Says
An Indiana car wash was correctly valued by the local tax board as the property owner failed to provide market evidence to support a reduction in its assessment, the state tax review board determined.
-
June 20, 2024
Casinos Must Fight Hotel Tax In State Court, 5th Circ. Says
Owners of two Louisiana casinos with attached hotels must challenge Baton Rouge in state court, rather than federal court, over taxes the city says they owe on free hotel stays they gave patrons, the Fifth Circuit ruled, saying the state is entitled to deference.
-
June 20, 2024
Dickinson Wright Brings On McDermott, Bell Nunnally Attys
Dickinson Wright PLLC added a pair of new members who include a commercial finance and real estate attorney from Bell Nunnally & Martin LLP based in Austin, Texas, and a tax and incentives attorney from McDermott Will & Emery LLP in Fort Lauderdale, Florida.
-
June 20, 2024
Tax Preparer With $38M In Refunds Cops To S-Corp. Scam
The owner of a tax preparation business that secured $38 million in federal refunds for customers pled guilty to helping prepare false returns and admitted he required clients to establish empty corporations to lower their tax bills illegally, according to his plea agreement in a California federal court.
-
June 20, 2024
Repatriation Tax Doesn't Violate Constitution, Justices Rule
The U.S. Supreme Court upheld the 2017 federal tax overhaul's mandatory repatriation levy on Thursday, finding the measure applies to the earnings of foreign corporations with U.S. shareholders and therefore does not raise constitutional questions about taxing unrealized income.
-
June 18, 2024
The 2 Attys Ensnared In A NJ Mogul's Racketeering Rap
New Jersey businessman George E. Norcross III may be the alleged mastermind of a racketeering scheme to reap millions in tax credits on waterfront property in a distressed city, but the explosive indictment also reveals the purported roles of two attorneys with close ties to the Democratic Party.
-
June 18, 2024
Connecticut Atty Spared Disbarment After Tax Crimes
A Connecticut federal judge has indefinitely suspended an attorney convicted of filing false tax returns and failing to pay taxes while spending millions on himself, agreeing with both the attorney and the local federal grievance committee that a punishment less severe than disbarment was warranted.
-
June 18, 2024
NY High Court Denies Trump's Gag Order Appeal
New York state's highest court on Tuesday denied Donald Trump's rapid appeal of the gag order that limited his speech during his criminal hush money trial, finding it did not raise serious constitutional issues.
-
June 18, 2024
Treasury Finalizes Labor Rules For Bonus Energy Tax Credits
The U.S. Treasury Department released final labor rules Tuesday for clean energy projects seeking to significantly boost the value of their tax credits, emphasizing due diligence by developers and announcing that more IRS resources will go toward enforcement of the rules.
-
June 17, 2024
Bouncer Admits To Promoting Prostitution After $5.7M Sting
A 41-year-old bouncer at a Connecticut strip club pled guilty Monday to facilitating prostitution and received a promise from the prosecution to recommend a reduced sentence as authorities press separate cases against a club boss who allegedly hid $5.7 million in income without reporting it to the Internal Revenue Service.
Editor's Picks
-
Blockchain Tech May Present New Transfer Pricing Challenges
Companies that develop blockchain systems to digitally record transactions may face difficulties when valuing intangibles tied to the decentralized and highly varied technology, creating novel transfer pricing issues for multinational corporations that create their own blockchain networks.
-
Trump-Era Tariff Angst Hasn't Gone Away Under Biden
The early days of the Biden administration have been relatively quiet on the trade front, but importers have nevertheless found themselves in the throes of a familiar battle: pleading with the government to hold off on tariffs in a heated trade dispute.
-
3 Major Implications For States In Biden's Tax Plans
President Joe Biden's sweeping tax changes proposed to pay for trillions in infrastructure spending would significantly alter the way the federal government taxes corporations, leaving states, for the second time in four years, to decide if and how to conform. Here Law360 presents three considerations for states in the president's tax proposals.
Expert Analysis
-
Series
Glassblowing Makes Me A Better Lawyer
I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.
-
What DOL Fiduciary Rule Means For Private Fund Managers
Attorneys at Ropes & Gray discuss how the U.S. Department of Labor's recently released final fiduciary rule, which revises the agency's 1975 regulation, could potentially cause private fund managers' current marketing practices and communications to be considered fiduciary advice, and therefore subject them to strict prohibitions.
-
Money, Money, Money: Limiting White Collar Wealth Evidence
As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.
-
How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.
-
Navigating New Safe Harbor For Domestic Content Tax Credits
The U.S. Department of the Treasury’s recent notice simplifying domestic content calculations for certain solar, onshore wind and battery storage projects, which directly acknowledges the difficulty for taxpayers in gathering data to support a domestic content analysis, should make it easier to qualify additional domestic content bonus tax credits, say attorneys at A&O Shearman.
-
Firms Must Rethink How They Train New Lawyers In AI Age
As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.
-
'Energy Communities' Update May Clarify Tax Credit Eligibility
A recent IRS notice that includes updated lists of locations where clean energy projects can qualify for additional tax credits — based 2023 unemployment data and placed-in-service dates — should help provide clarity regarding project eligibility that sponsors and developers need, say attorneys at Troutman Pepper.
-
Think Like A Lawyer: Always Be Closing
When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.
-
Series
Playing Chess Makes Me A Better Lawyer
There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.
-
Calif. Budget Will Likely Have Unexpected Tax Consequences
A temporary suspension of net operating loss deductions and business incentive tax credits, likely to be approved on June 15 as part of California’s next budget, may create unanticipated tax liabilities for businesses that modeled recently completed transactions on current law, says Myra Sutanto Shen at Wilson Sonsini.
-
Litigation Inspiration: Attys Can Be Heroic Like Olympians
Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.
-
Lean Into The 'Great Restoration' To Retain Legal Talent
As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.
-
How Cannabis Rescheduling May Alter Paraphernalia Imports
The Biden administration's recent proposal to loosen federal restrictions on marijuana use raises questions about how U.S. Customs and Border Protection enforcement policies may shift when it comes to enforcing a separate federal ban on marijuana accessory imports, says R. Kevin Williams at Clark Hill.
-
NCAA Settlement May End The NIL Model As We Know It
The recent House v. NCAA settlement in California federal court, in which the NCAA agreed to allow schools to directly pay March Madness television revenue to their athletes, may send outside name, image and likeness collectives in-house, says Mike Ingersoll at Womble Bond.
-
Series
Fishing Makes Me A Better Lawyer
Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge at Robinson Bradshaw.