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Tax
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May 29, 2025
Staffing Co. Seeks $10.8M Tax Refund Under COVID Program
A staffing company sued the U.S. government for a $10.8 million employment tax refund, telling a Georgia federal court that the IRS has failed to provide payroll tax credits the agency owed the business under a coronavirus relief program.
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May 29, 2025
DC Court Blocks Trump's Tariffs As Overreach Of Power
The International Emergency Economic Powers Act does not empower the president to impose tariffs, the D.C. federal district court said Thursday, ruling that President Donald Trump's global levies are unlawful and barring his administration from enforcing them on two toymakers who challenged the policies.
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May 29, 2025
Fed. Circ. Revives Trump Tariffs As It Weighs Appeal
The Federal Circuit temporarily reinstated President Donald Trump's global tariffs Thursday, a day after the U.S. Court of International Trade held that an emergency law did not give the president "unbounded authority" to impose the measures.
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May 29, 2025
IRS Delaying $11M Worker Tax Credit Payout, Hospital Says
A hospital forced to suspend its normal business as it responded to the COVID-19 pandemic told a Washington federal court Thursday that it's entitled to an $11.5 million tax refund for employee retention credits and that the IRS has failed to deliver the promised aid.
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May 29, 2025
Ore. Extends Tax Breaks For Affordable Housing Development
Oregon will delay the expiration of three property tax breaks intended to help the development of affordable housing under legislation signed by Democratic Gov. Tina Kotek.
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May 29, 2025
Texas Bars Some Property Tax Hikes Above Voter-OK'd Rates
Texas will prohibit school districts from adopting property tax rates above voter-approved thresholds in response to a natural disaster if voters previously rejected a similar proposed rate increase, under a bill signed by Gov. Greg Abbott.
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May 29, 2025
Flexjet Predecessor Must Pay $24M In Excise Taxes On Fees
An aviation company whose customers pay to share private jets owes $24 million in excise taxes under an Ohio federal court ruling that found the Internal Revenue Service gave the company precise guidance that it was required to collect taxes from its customers on monthly management fees.
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May 29, 2025
US Tariffs Spark Profit Warnings For UK Pension Sponsors
British businesses might seek to tap into pension surpluses because of ongoing financial losses caused by U.S. tariffs, a professional services firm has warned.
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May 28, 2025
International Trade Court Strikes Down Trump's Tariffs
The International Emergency Economic Powers Act does not give the president the "unbounded authority" to impose tariffs on goods from nearly every country in the world, the U.S. Court of International Trade ruled Wednesday, handing a win to small businesses and states challenging some of President Donald Trump's steep tariffs.
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May 28, 2025
Fintech Group Warns Remittance Tax Will Hurt Consumers
The American Fintech Council sent a letter to members of Congress asking them to reconsider a proposed tax on remittances that is a part of the $3.8 trillion bill to extend and make permanent the Republican Party's 2017 tax overhaul law, also known as The One Big Beautiful Bill Act.
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May 28, 2025
Coinbase Users Sue Over Terraform Token Conversion Losses
A group of crypto buyers sued Coinbase Global Inc. over losses they say they incurred from the crypto exchange's actions in the wake of the historic Terraform collapse, accusing Coinbase of muddling the process of converting their assets and providing them with inaccurate tax documents.
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May 28, 2025
Stay Won't Be Lifted On Claims Over $93M Real Estate Fraud
Victims of a $93 million Miami real estate development scheme won't be able to pursue their claims — at least for now — against the company's former CEO after a Florida federal judge on Wednesday denied their request to lift a stay on litigation during a U.S. Securities and Exchange Commission receivership.
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May 28, 2025
Execs Smuggled Billions In Goods To Skirt Duties, Feds Say
Two California shipping company executives have been charged with smuggling billions of dollars' worth of goods from the United States into Mexico — avoiding millions of dollars in duties to Mexico — using bogus documents, shell companies, bribes to public officials and kickbacks to drug cartels.
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May 28, 2025
Judge Shields NY Congestion Pricing From Feds' Threats
New York's congestion pricing program can keep running at least through the fall, after a federal judge on Wednesday signaled that the U.S. Department of Transportation likely overstepped its authority by purportedly terminating a federal agreement that gave congestion pricing the green light.
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May 28, 2025
4 Big Questions Raised By International Retaliatory Tax In GOP Bill
Republicans' evolving international retaliatory tax proposal has been viewed as an effort to influence foreign tax regimes and as a possible tool in global tax and trade talks, but it has sparked concerns that it could escalate a trade war or otherwise hurt the U.S. economy. Here, Law360 explores four questions raised by the proposal.
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May 28, 2025
DOL Tells 5th Circ. It Will Craft New ESG Rule For 401(k) Plans
The U.S. Department of Labor told the Fifth Circuit on Wednesday that it will launch new rulemaking and move "as expeditiously as possible" to replace Biden administration regulations on whether fiduciaries can consider issues like climate change and social justice when choosing retirement plan investments.
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May 28, 2025
IRS Coinbase Summons Challenged As Overbroad, Unlawful
A Connecticut man wants a California federal court to quash an Internal Revenue Service summons issued to Coinbase for his personal financial documents, arguing that the agency's request was inappropriate and violates his privacy rights.
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May 28, 2025
Texas Voters To Decide On Raising Homestead Tax Exemption
Texas voters will decide if the state should amend its constitution to increase the state's homestead property tax exemption from $100,000 to $140,000 under a Senate joint resolution approved by state lawmakers and filed with the Texas secretary of state.
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May 28, 2025
One Convicted For Role In €195M VAT Fraud Scheme
A Munich court convicted a man for his role in a value-added tax fraud scheme that spanned 17 countries and caused an estimated €195 million ($220 million) in damages, the European Public Prosecutor's Office said Wednesday.
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May 28, 2025
Fried Frank Adds KPMG International Tax Ace In NY
Fried Frank Harris Shriver & Jacobson LLP has hired a KPMG international tax group principal as a tax partner in New York.
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May 27, 2025
Trump To Pardon 'Chrisley' Stars Convicted Of Tax Evasion
President Donald Trump is planning to pardon reality TV stars Todd and Julie Chrisley, the Georgia duo sentenced to prison after being convicted of running a yearslong bank fraud scheme and dodging federal taxes, according to a post Tuesday on X by Trump's communications adviser.
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May 27, 2025
Mich. Fuel Supplier Fights $8.7M Tax Bill Over Flight Credit
A fuel supplier is challenging the Michigan Department of Treasury's determination that the company cannot claim credit for interstate flights on its returns because it is not an airline operator and is now liable for $8.7 million in tax and interest.
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May 27, 2025
Debate Over Moratorium On State AI Oversight Goes To Senate
Before going on recess, the U.S. House of Representatives passed their budget reconciliation bill that includes a hotly debated moratorium on states' enforcement of artificial intelligence-related legislation, and the debate continues as the bill heads to the U.S. Senate, where at least a few Republicans have voiced opposition.
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May 27, 2025
Ariz. Asks Justices To Skip Tax Fight Over Plant On Tribe Land
Arizona's tax agency urged the U.S. Supreme Court to pass on a power company's claims that property taxes were illegally levied on a power plant it owns on tribal land, saying the justices have consistently upheld taxes on tribal reservations that solely fall on non-Native Americans.
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May 27, 2025
Canada Could Use Tax System For Growth, OECD Says
While Canada's economy has been largely resilient, changes in areas like goods and services taxes and its research and development tax incentives could help protect against projected slowed growth brought on by its trade dispute with the U.S., the Organization for Economic Coooperation and Development said.
Expert Analysis
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Series
Volunteer Firefighting Makes Me A Better Lawyer
While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.
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Tax Takeaways From Georgia's 2025 Legislative Session
Attorneys at Eversheds Sutherland discuss tax-related measures passed by the Georgia Legislature during the session that adjourned on April 4, which included a decrease in income tax rates, an extension of the time in which to a protest tax assessment and cleanup provisions related to launching the state’s new tax court next year.
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E-Discovery Quarterly: The Perils Of Digital Data Protocols
Though stipulated protocols governing the treatment of electronically stored information in litigation are meant to streamline discovery, recent disputes demonstrate that certain missteps in the process can lead to significant inefficiencies, say attorneys at Sidley.
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Maximizing Exemptions Before TCJA Rides Into The Sunset
Excerpt from Practical Guidance
Individuals with taxable estates can optimize the benefits of estate planning strategies like spousal lifetime access trusts by setting them up before increases in estate and gift tax exemptions under the 2017 Tax Cuts and Jobs Act sunset in January, say attorneys at Katten.
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Series
Law School's Missed Lessons: Preparing For Corporate Work
Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.
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A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.
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Series
Improv Makes Me A Better Lawyer
Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.
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How BigLaw Executive Orders May Affect Smaller Firms
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.
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Opinion
Lawsuits Shouldn't Be Shadow Assets For Foreign Capital
Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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How To Accelerate Your Post-Attorney Career Transition
Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.
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Tariffs And FCA Create Perfect Storm For Importers
The Trump administration's aggressive tariff policies pose a high risk to certain importation practices that are particularly likely to trigger False Claims Act enforcement, say attorneys at Jeffer Mangels.
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Opinion
US Reassessment Of OECD Tax Deal Is Right Move
The wholesale U.S. reevaluation of the Organization for Economic Cooperation and Development's global tax deal ordered by President Donald Trump is a positive step that could ultimately create a more durable international tax system, says Anne Gordon at the National Foreign Trade Council.
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Series
Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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Series
Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.
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Measuring And Mitigating Harm From Discriminatory Taxes
In response to new tariffs and other recent "America First Trade Policy" pronouncements, corporations should assess and take steps to minimize their potential exposure to discriminatory and reciprocal tax measures that are likely to come, say economists at Charles River Associates.