Tax

  • May 02, 2024

    Coverage Recap: Day 6 Of Trump's NY Hush Money Trial

    Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from day six.

  • May 02, 2024

    Nixon Peabody Adds Two Community Finance Attys In DC

    Nixon Peabody LLP has hired two partners, who will focus their practices on helping nonprofits and other clients understand and obtain tax credits for a range of community development projects, to its community development finance practice in Washington, D.C., the firm announced Thursday.

  • May 02, 2024

    Feds Want Prison For Ex-Public Defender For Tax Fraud

    A former chief public defender in Minneapolis who in seeking leniency said he resigned in disgrace amid accusations that he failed to pay taxes for years on his private law firm should nonetheless spend eight months in prison after pleading guilty, prosecutors told a Minnesota federal court.

  • May 02, 2024

    Former Mich. Speaker, Wife Arraigned On Embezzling Charges

    A former speaker of the Michigan House of Representatives and his wife pled not guilty on Thursday to multiple financial crimes and received the judge's blessing to travel out of state to attend the Kentucky Derby, in their first court appearance since the charges were announced.  

  • May 01, 2024

    T-Mobile Gets Tax Reimbursement Suit Tossed For Good

    T-Mobile has convinced a New Jersey federal court to toss for good a suit brought by a middleman seeking to collect tax reimbursements the mobile behemoth had supposedly promised a landlord after it didn't fix the deficiencies in its suit the third go round.

  • May 01, 2024

    Senate Dems Reintroduce Bill To Tax And Regulate Cannabis

    Senate Democrats on Wednesday reintroduced a cannabis legalization bill that would remove the drug entirely from the ambit of the Controlled Substances Act and impose a tax-and-regulate scheme akin to what is currently in place for alcohol and tobacco.

  • May 01, 2024

    Colo. House OKs Tax Credits For Middle-Income Housing

    The Colorado House approved a pilot program Wednesday to provide a tax credit to developers of housing aimed at middle-income residents

  • May 01, 2024

    No Relief For Fla. Adviser Convicted In $80M Trading Scam

    The Eleventh Circuit on Wednesday affirmed the conviction of a Florida investment adviser who bilked more than $80 million from the hundreds of people he persuaded to invest in a fraudulent company, after concluding he was not in custody when he made statements to the police.

  • May 01, 2024

    Middle East, North African Gov'ts Back UN For Corp. Tax Talks

    Governments should make a high-level commitment to address corporate tax reform within the United Nations' framework convention on international tax cooperation, an intergovernmental group of Middle Eastern and North African countries said Wednesday.

  • May 01, 2024

    Ex-NFL Star Romanowski Files For Ch. 11 Amid $15M Tax Suit

    Ex NFL star and Super Bowl champion Bill Romanowski has filed for Chapter 11 protection in California after being slapped with a $15.5 million income tax suit.

  • May 01, 2024

    UN Must Improve Corp. Tax Rules, Platforms, Some Gov'ts Say

    Governments must commit to improving existing corporate tax rules and platforms created at the OECD within the terms of reference for a United Nations framework convention on global tax cooperation, two tax officials who participated in drafting those rules said Wednesday.

  • May 01, 2024

    Metal Biz Owner Cops To Tax Fraud On $2.8M Income

    The owner of a metal fabrication company admitted to neglecting to report nearly $3 million in business income to the IRS, Connecticut federal prosecutors announced.

  • May 01, 2024

    In Trump Staredown With NY Judge, 'Somebody Has To Blink'

    Experts say Donald Trump will likely continue to ignore warnings from the court, and possibly his own attorneys, as his Manhattan hush money trial resumes Thursday with a fresh set of arguments over the presumptive Republican presidential nominee's out-of-court statements.

  • May 01, 2024

    Billionaire Energy Co. Founder Sues Booz Allen Over IRS Leak

    Energy Transfer co-founder Kelcy Warren accused government contractor Booz Allen Hamilton of failing to supervise an employee who stole Warren's private tax information and that of thousands of other wealthy people while on assignment at the IRS, according to a complaint in Maryland federal court.

  • May 01, 2024

    Colo. House OKs $650M Child Income Tax Credit

    Colorado would create income tax credits for people with children that could total more than $650 million annually under legislation passed Wednesday by the state House of Representatives.

  • May 01, 2024

    Overtime Theft Scheme Earns Ex-Mass. Trooper 3 Years

    The former second-in-command of a Massachusetts state police traffic safety unit was sentenced to three years in prison for his role in a widespread conspiracy to steal federally funded overtime through no-work shifts.

  • May 01, 2024

    Tax Credit Transfer Regs Show IRS Caution In Rulemaking

    The IRS and Treasury's final rules on the sale and transfer of green energy credits maintained a strict reading of the statute while making few changes, a sign of caution by regulators amid judicial scrutiny of the government's rulemaking authority.

  • May 01, 2024

    Celeb Charity Says Law Firm Partner Went Rogue, Leaked Info

    The nonprofit responsible for handling more than $8 million donated to NFL safety Damar Hamlin following his on-field cardiac arrest has lodged a suit in Illinois federal court against its former counsel, claiming a lawyer leaked private documents to the press as retribution for his firing after publicizing faulty information.

  • April 30, 2024

    Ex-Autonomy VP Says CEO Lynch Told Him To Lie To Investors

    A former Autonomy business development executive testified Tuesday that CEO Mike Lynch directed him to lie to a hedge fund investor about prepaid royalty deals that boosted the company's upfront revenue numbers, saying at Lynch's criminal fraud trial that it was hard to say no to the "big boss."

  • April 30, 2024

    TracFone Must Pay Wash. City's Utility Tax

    Prepaid phone businesses are utilities and can be taxed as such under Washington state law, according to a state appeals court that had been posed such a question as part of a dispute between TracFone and a Seattle suburb.

  • April 30, 2024

    'Bitcoin Jesus' Dodged Nearly $50M In Taxes, Feds Say

    The U.S. has charged an early bitcoin investor dubbed "Bitcoin Jesus" over allegations that he dodged approximately $48 million in taxes by filing false tax returns and concealing how much of the cryptocurrency he owned, according to an announcement from the U.S. Department of Justice on Tuesday.

  • April 30, 2024

    Atty Tells Trump Jury That Hush Money Deal Almost Tanked

    An attorney who previously represented adult film star Stormy Daniels told jurors Tuesday in the New York criminal trial of Donald Trump about how the $130,000 hush money agreement at the heart of the case was nearly derailed after former Trump lawyer Michael Cohen would not close the deal.

  • April 30, 2024

    Skadden, Latham Lead Travel Firm Viking's Upsized $1.5B IPO

    Private equity-backed cruise operator Viking Holdings Ltd. on Tuesday priced an upsized $1.5 billion initial public offering within its price range, represented by Skadden Arps Slate Meagher & Flom LLP and underwriters counsel Latham & Watkins LLP, marking the largest IPO of 2024. 

  • April 30, 2024

    Drug Company Can't Escape Texas Counties' Opioid MDL

     A Texas appeals court on Tuesday declined to cut loose a New Jersey-based pharmaceutical manufacturer from Texas multidistrict litigation over opioid addiction in the state, finding that the counties of Dallas and Bexar have demonstrated that it's made deliberate moves toward the Texas market.

  • April 30, 2024

    Colo. Beats Challenge To Fees In Transportation Funding Law

    A conservative group has not shown that fees passed in a 2021 transportation funding package in Colorado exceeded the legislature's taxing authority, a state judge said, throwing out the group's challenge to the fees.

Expert Analysis

  • Perspectives

    6 Practice Pointers For Pro Bono Immigration Practice

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    An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.

  • Lessons From Country Singer's Personal Service Saga

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    Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.

  • After Watershed Year, Clean Hydrogen Faces New Challenges

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    Clean hydrogen is on the verge of taking off — but over the course of 2023, it became clear that the regulatory landscape will be more stringent than expected, and the cost and timing of major projects will depend on a number of key developments anticipated in 2024, say attorneys at Weil.

  • Series

    Baking Bread Makes Me A Better Lawyer

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    After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.

  • Federal Courts And AI Standing Orders: Safety Or Overkill?

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    Several district court judges have issued standing orders regulating the use of artificial intelligence in their courts, but courts should consider following ordinary notice and comment procedures before implementing sweeping mandates that could be unnecessarily burdensome and counterproductive, say attorneys at Curtis.

  • 7 E-Discovery Predictions For 2024 And Beyond

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    The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.

  • 5 Litigation Funding Trends To Note In 2024

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    Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.

  • Tech CEO Tax Ruling A Warning For Forward Contracts

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    In McKelvey v. Commissioner, the U.S. Tax Court decided that deceased Monster.com founder Andrew McKelvey terminated his underlying obligations when he extended variable prepaid forward contracts, demonstrating why startup founders, early employees and investors should think carefully before amending derivative agreements, say Daren Shaver and Trent Tanzi at Hanson Bridgett.

  • 4 Legal Ethics Considerations For The New Year

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    As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.

  • What The Law Firm Of The Future Will Look Like

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    As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • 4 PR Pointers When Your Case Is In The News

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    Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.

  • Unpacking The Proposed Production Tax Credit Regulations

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    Recently proposed tax regulations for claiming the U.S. clean-energy manufacturers' production credit under Internal Revenue Code Section 45X are less stringent than many had feared but fail to define a fundamental eligibility requirement, say Casey August and Jared Sanders at Morgan Lewis.

  • 10 Considerations For Litigating A New York Tax Case

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    While some of New York’s recently adopted corporate tax regulations are likely to face legal challenges, aggrieved taxpayers should answer certain questions before deciding to embark on the tax litigation process, say Cyavash Ahmadi and Jeffrey Friedman at Eversheds Sutherland.

  • Charting The Course For Digital Assets In 2024

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    Although 2023 was a tough year for the digital asset industry, upcoming court decisions, legislation and regulatory action will bring clarity, allowing the industry to expand and evolve, and the government will decide what innovation it will allow without challenge, says Joshua Smeltzer at Gray Reed.

  • Law Firm Strategies For Successfully Navigating 2024 Trends

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    Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.

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