Tax

  • July 24, 2024

    NC Man Gets Prison, $4.4M Fine For Stealing From Customers

    A North Carolina businessman who admitted to stealing customers' bank and credit account information and spending their funds at casinos has been ordered to serve almost three years in prison and to pay a penalty of more than $4.4 million, prosecutors announced this week.

  • July 24, 2024

    Int'l Firm Garrigues Merges With Full-Service Mexican Firm

    International legal and tax services firm Garrigues will create one of the largest law firms in Mexico by integrating a full-service Mexican firm into the group by the end of 2024, both firms announced.

  • July 24, 2024

    Atty Can't Deduct Car Racing Costs As Ads, US Tells 10th Circ.

    A personal injury lawyer who also races cars shouldn't be allowed to deduct about $300,000 for racing-related costs as ordinary business advertising expenses because they're unrelated to his law practice, the U.S. government told the Tenth Circuit on Wednesday.

  • July 24, 2024

    Senate Tees Up Votes On Two Tax Court Nominees

    The U.S. Senate set the stage Wednesday for the chamber to proceed with votes on two of President Joe Biden's picks for U.S. Tax Court seats.

  • July 24, 2024

    IRS' $15M Jeopardy Assessment OK'd In Offshore Tax Fight

    A Florida federal court has upheld a $15 million immediate tax assessment against a man who transferred his father's estate into trusts for himself and his mother and refused to pay what the IRS claimed was tax debt on his father's undisclosed offshore accounts.

  • July 24, 2024

    IRS Sets Criteria For Carbon Capture Credit Life Cycle Report

    The Internal Revenue Service detailed standards and procedures Wednesday for a written report on a carbon sequestration facility's greenhouse gas emissions that project owners must submit and get agency approval on before claiming the carbon oxide tax credit.

  • July 24, 2024

    5th Circ. Strikes Down FCC's Universal Service Fund

    The full Fifth Circuit struck down the Federal Communications Commission's system for subsidizing telecommunications service for rural and low-income users as unconstitutional Wednesday, reversing a panel decision and triggering a circuit split with three other appeals courts that upheld the fee regime.

  • July 24, 2024

    Dentons Brings On Former Big 4 Exec As New Global CEO

    Global law firm Dentons, which has made a name for itself by aggressive growth through combinations, has tapped a new global chief executive officer with leadership experience at accounting giant EY, the firm's first change at the top in over a decade.

  • July 23, 2024

    Cannabis Industry Stakeholders Weigh In On Rescheduling

    As the period for public comment on the Biden administration's proposal to reclassify marijuana came to a close Monday, anti-legalization activists, marijuana industry advocates and state cannabis regulators each submitted their thoughts on the potential policy shift.

  • July 23, 2024

    House Delays Vote On FY25 IRS Budget Legislation

    The House delayed an expected vote Tuesday on the Internal Revenue Service's budget for fiscal 2025, casting doubt on whether GOP lawmakers will meet their goal of passing the funding bill before Congress' annual August recess begins next week.

  • July 23, 2024

    Pa. Justices Will Hear Pittsburgh's Appeal For Its 'Jock Tax'

    The Pennsylvania Supreme Court has accepted the city of Pittsburgh's request to review a lower court decision that ended the city's fee on nonresident professional athletes, also known as the jock tax, the court said.

  • July 23, 2024

    Tax Foreclosure Kickback Suit Too Late, Mich. County Says

    A Wayne County, Michigan, treasurer has argued in Michigan federal court that a putative class action accusing the county and other parties of engaging in a tax foreclosure and kickbacks scheme is time-barred.

  • July 23, 2024

    Feds Urge 6th Circ. To Affirm Pharma Owner's Fraud Sentence

    The Sixth Circuit should affirm a district court's fraud convictions, nearly five-year sentence and $7 million restitution order against an Ohio pharmaceutical salesman who underreported his income to reduce his tax liability in a multimillion-dollar scheme involving bogus insurance billings, the federal government said.

  • July 23, 2024

    Ariz. Justices OK Use Of Power Deal In Plant's Valuation

    An Arizona power plant's income from a power purchase agreement may be considered in the income analysis of the valuation of the property, the state Supreme Court said, sending the matter back to the state tax court.

  • July 23, 2024

    Farm Owner Must Boost Taxable Income, 8th Circ. Told

    An Arkansas company that leases farmland must raise its reported income by $230,000 because it failed to get permission from the IRS to change its accounting method, the U.S. told the Eighth Circuit on Tuesday in asking it to uphold a U.S. Tax Court ruling.

  • July 23, 2024

    Winston & Strawn Adds MoFo Tax Pro As Partner In NY

    Winston & Strawn LLP has added a transactional tax specialist from Morrison Foerster LLP as a partner with the firm's transactions department and tax practice in New York.

  • July 23, 2024

    No Victims, No Fraud, Trump Says In $465M Judgment Appeal

    Donald Trump has appealed the $465 million judgment against him, arguing that the New York attorney general exceeded her authority in her civil fraud suit against the former president because the statute in question does not apply to victimless transactions.

  • July 23, 2024

    India Eyes End Of Digital Tax For E-Commerce, But Not Ads

    Foreign e-commerce companies would be exempted from India's equalization levy, a 2% digital tax, but online advertisers would continue to pay a 6% rate on gross revenues sourced to Indian customers under a budget bill presented Tuesday by the government.

  • July 23, 2024

    Ariz. Court OKs Hospital District Tax For Legal Costs

    A property tax levied to fund an Arizona hospital district's expenses including legal fees was properly authorized and did not require approval by voters, the Arizona Tax Court said, rejecting a suit by a local taxpayer.

  • July 23, 2024

    Orrick Hires Ex-Winston & Strawn Tax Partner In Chicago

    Orrick Herrington & Sutcliffe LLP announced the hiring of a former partner at Winston & Strawn LLP for its renewables tax equity and tax credit team.

  • July 23, 2024

    11th Circ. Should Uphold Tax Court Protection, IRS Says

    The Eleventh Circuit should uphold a U.S. Tax Court ruling that denied a widow tax relief and also rejected her claim that Tax Court judges have unconstitutional job protection, the Internal Revenue Service told the circuit court.

  • July 23, 2024

    5-Hour Energy Partner Owes No Tax On Sale, DC Circ. Says

    The D.C. Circuit found Tuesday that a Canadian citizen's $6.5 million in gains from her sale of a U.S. partnership interest in a company that sold 5-hour Energy drinks was not federally taxable as inventory income, reversing a U.S. Tax Court ruling.

  • July 22, 2024

    Michigan's Cases To Watch 2024: A Midyear Report

    Michigan's highest court is preparing to take on cases that could restore imperiled PFAS regulations, prevent employers from cutting short employees' window to file civil rights claims and expand the reach of Michigan's consumer protection law. Here are some of Michigan's most important cases to watch for the rest of the year.

  • July 22, 2024

    What Attorneys Need To Know About JD Vance

    Vice presidential nominee JD Vance's brief legislative record shows he is aligned with his fellow Republicans on hot-button issues like abortion and immigration, but it also indicates that the senator from Ohio may be willing to break with the GOP mainstream when it comes to regulating big business. Here's what attorneys should know about the vice presidential candidate.

  • July 22, 2024

    HMRC Wins Appeal Over Taxation Of Partnership Rewards

    Financial rewards from a partnership were taxable as income even though they were made at the partnership's total discretion and the partners had no legally enforceable right to receive them, a London court ruled, siding with HM Revenue & Customs.

Expert Analysis

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

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    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • 1st Tax Easement Convictions Will Likely Embolden DOJ, IRS

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    After recent convictions in the first criminal tax fraud trial over allegedly abusive syndicated conservation easements, the IRS and U.S. Department of Justice will likely pursue other promoters for similar alleged conspiracies — though one acquittal may help attorneys better evaluate their clients' exposure, say Bill Curtis and Lauren DeSantis-Then at Polsinelli.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • Anticipating Intensified Partnership Enforcement From IRS

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    The Internal Revenue Service's decadeslong difficulties with partnership audits led to the recent announcement of a clear, well-funded, focused initiative, and businesses operating in the partnership form will feel the impact, with definite changes ahead, says Sharon Katz-Pearlman at Greenberg Traurig.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

  • Series

    Playing In A Rock Cover Band Makes Me A Better Lawyer

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    Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.

  • Series

    The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'

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    The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.

  • Opinion

    Newman Suspension Shows Need For Judicial Reform

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    The recent suspension of U.S. Circuit Judge Pauline Newman following her alleged refusal to participate in a disability inquiry reveals the need for judicial misconduct reforms to ensure that judges step down when they can no longer serve effectively, says Aliza Shatzman at The Legal Accountability Project.

  • EPA Report A Reminder That Fuel Credits Are 'Buyer Beware'

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    A recent report from the U.S. Environmental Protection Agency's Office of Inspector General is a reminder that fraud risk in the renewable fuel identification number market remains, and that purchasers are ultimately responsible for ensuring the validity of credits they buy, say David McIndoe and Nick Hillman at Eversheds Sutherland.

  • How And Why Your Firm Should Implement Fixed-Fee Billing

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    Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Opinion

    Judicial Independence Needs Defense Amid Political Threats

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    Amid recent and historic challenges to the judiciary from political forces, safeguarding judicial independence and maintaining the integrity of the legal system is increasingly urgent, says Robert Peck at the Center for Constitutional Litigation.

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • While Risks Exist, AI Could Transform IRS Enforcement

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    The Internal Revenue Service's recently announced use of artificial intelligence could revolutionize the agency's enforcement efforts, and transparency about its use and a forum for challenging AI findings could help mitigate fears that the technology will increase bias, say attorneys at Lewis Brisbois.

  • AGs' Distaste For Food Bill May Signal Other State Issues

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    States' recent opposition to a proposed federal law that would block them from regulating out-of-state agricultural production could affect issues beyond this narrow debate, such as the balance of state and federal regulatory power, reproductive rights post-Dobbs, and energy production and water use, say Christopher Allen and Stephen Cobb at Cozen O'Connor.

  • Strategic Succession Planning At Law Firms Is Crucial

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    Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

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