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Tax
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March 12, 2025
4th Circ. Voids IRS Win In Collections Suit Against NC Couple
The IRS should not have been granted a district court win over a North Carolina couple's 2007 tax bill because there was conflicting evidence about when the taxpayers had reached out to the agency for an installment payment agreement, the Fourth Circuit said Wednesday.
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March 12, 2025
Canada Announces Steel, Aluminum Retaliatory Tariffs On US
Canada will impose CA$29.8 billion ($20.7 billion) in retaliatory tariffs in response to the 25% rates that President Donald Trump has levied on all steel and aluminum imports, a senior Canadian government official announced on Wednesday.
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March 12, 2025
Starbucks' Sourcing Aided $1.3B Low-Tax Profits, Report Says
Starbucks leveraged its private certification program for coffee growers to boost profits transferred almost tax-free from Switzerland to the Netherlands to the U.K., amounting to an estimated $1.3 billion between 2011 and 2021, according to a report from a union-funded nonprofit organization.
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March 12, 2025
Property Tax Can Fund Retired Cops' Insurance, Panel Says
A Michigan state appeals court on Tuesday said property taxes imposed by four municipalities to cover the cost of health insurance for retired firefighters and police officers are not illegal, finding a law established before a constitutional amendment barring new taxes without a public vote allowed taxation for broad retirement benefits.
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March 12, 2025
Cannabis Co. Trulieve Improperly Kept Tax Refund, Suit Says
California cannabis retailer Catalyst alleged in a new lawsuit that Florida-based multistate operator Trulieve improperly pocketed a $305,000 federal tax refund that was rightfully Catalyst's following its acquisition of a dispensary.
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March 12, 2025
Tariffs Prompt Chipmakers To Look At Manufacturing Moves
The U.S. semiconductor industry is considering moving manufacturing operations to the U.S. and elsewhere as a tariff-mitigation strategy with President Donald Trump threatening to levy the sector and its supply chains, professionals told Law360.
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March 12, 2025
Railroad Worker Says Board Schemed To Overtax Retirees
Retired railroad workers were incorrectly directed by the federal retirement board overseeing their funds to report millions of dollars in nontaxable benefits as taxable income in a scheme to line the board's pockets, a retiree said in a proposed class action in Texas federal court.
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March 12, 2025
ND Lawmakers OK Recommending Tribal Land Taxation Study
North Dakota would direct state lawmakers to consider studying issues related to the taxation of land owned by enrolled tribal members who reside on Native American reservations under a bill passed by the state Legislative Assembly and headed to the governor.
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March 12, 2025
EU Targets US Goods In Response To Trump's Tariffs
The European Commission said Wednesday that it will impose tariffs on American goods imported into the European Union in response to U.S. tariffs placed on EU steel and aluminum exports.
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March 11, 2025
5th Circ. Hopes For 'Sanity' In Backing Legal Malpractice Arb.
Untangling a "ridiculous" arbitration proceeding that produced four contradictory awards in a legal malpractice dispute, the Fifth Circuit on Tuesday affirmed three awards and most of another, adding that the parties are "free to arbitrate another day" in the hope that their disagreements will be resolved "for the sake of sanity."
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March 11, 2025
Trump, Ontario Back Down After Two-Day Trade Flare-Up
President Donald Trump called off additional tariffs on Canadian steel and aluminum Tuesday after the Ontario government dropped a briefly imposed surcharge on electricity exports, the White House told Law360 on Tuesday evening.
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March 11, 2025
Russia Says Guinea Ruling Backs Dismissal In $5B Award Suit
A recent D.C. federal court decision supports the Russian Federation's bid to dismiss an arbitration enforcement action stemming from a tax dispute with Yukos Capital Ltd., Russia told the same court.
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March 11, 2025
12 Govs. Assert States' Sovereignty Against CTA In 5th Circ.
A dozen Republican governors, led by Georgia Gov. Brian Kemp, urged the Fifth Circuit to maintain a nationwide block of enforcement of the Corporate Transparency Act, arguing the law undermines the traditional authority states have to regulate businesses.
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March 11, 2025
Goldstein Wants Look At Testimony On Alleged Obstruction
U.S. Supreme Court lawyer and SCOTUSblog publisher Tom Goldstein asked a Maryland federal judge to let him see grand jury material related to the government's claim that he offered to pay a potential witness cryptocurrency in his tax evasion case.
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March 11, 2025
Business Owner Denies Evading Taxes In Sports Betting Ring
The owner of an insurance salvage company denied accusations in a California federal court that he evaded taxes in connection with a multimillion-dollar illegal sports betting ring, according to the U.S. Department of Justice.
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March 11, 2025
Utah Lawmakers OK Min. Tax Rate Consensus Certification
Utah would require a minimum property tax rate imposed by school districts to be certified by the state's tax commission, the governor's Office of Planning and Budget and the state Legislature's Office of the Legislative Fiscal Analyst under a bill approved by state lawmakers and headed to the governor.
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March 10, 2025
Alsup Refuses To Vacate Hearing Into OPM Mass Firings
U.S. District Judge William Alsup on Monday denied the Trump administration's request to vacate an upcoming evidentiary hearing into the U.S. Office of Personnel Management's mass firings of probationary federal employees, and required OPM director Charles Ezell to appear in person or else be deposed.
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March 10, 2025
Latham-Led Physical Therapy Startup Hinge Health Files IPO
Artificial intelligence-focused physical therapy startup Hinge Health Inc. on Monday filed plans for an initial public offering, represented by Latham & Watkins LLP and underwriters counsel Davis Polk & Wardwell LLP, joining a growing number of IPO prospects.
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March 10, 2025
Tariff Shifts Creating Compliance Chaos For Energy Cos.
The unpredictability of President Donald Trump's tariff maneuvers is challenging energy companies' ability to comply with fluctuating mandates and making tariff violations more likely.
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March 10, 2025
Ariz. Power Co. Asks Justices To Review Tax On Tribal Plant
An energy company asked the U.S. Supreme Court to review Arizona court decisions that said a power plant it owns on tribal land is subject to property taxes, arguing that privately owned improvements located on Native American reservations are exempt from state and local taxes.
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March 10, 2025
Ex-Credit Suisse Client Pleads Guilty To Hiding $90M
A Colombian-American businesswoman and former Credit Suisse client pled guilty Monday in Florida federal court to conspiring with family members to hide more than $90 million in assets from the IRS through a series of foreign bank accounts.
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March 10, 2025
Feds Sue FDIC For $1.9M For First Republic Tax Bill
The U.S. government sued the Federal Deposit Insurance Corp. in D.C. federal court as receiver for the failed First Republic Bank, alleging the bank understated its withholding tax for U.S.-sourced income of foreigners and now owes almost $2 million to the federal government.
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March 10, 2025
Treasury's CTA Halt Doesn't Justify Block, Feds Tell 5th Circ.
The U.S. Treasury Department halting enforcement of the Corporate Transparency Act on domestic entities doesn't add justification to a nationwide block on the law because it's a valid exercise of Congress' powers to regulate commerce, taxes, foreign affairs and national security, the U.S. government told the Fifth Circuit.
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March 10, 2025
NJ Man Gets 18 Months In $50M Off-Road Tire Ponzi Scheme
A New Jersey man who pled guilty to wire fraud for his role in a $50 million Ponzi scheme in which he took investor money on the promise he could buy and resell off-the-road tires at a substantial profit has been sentenced to 18 months in prison.
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March 10, 2025
Colo. Proposal Seeks Taxpayer Votes On New State Fees
Colorado voters could decide whether to require future votes to approve new state fees and other charges to fund major state enterprises under a pair of proposed initiatives with titles approved by a state board.
Expert Analysis
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5 Keys To Building Stronger Attorney-Client Relationships
Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.
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Series
Racing Corvettes Makes Me A Better Lawyer
The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
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Opinion
Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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Reading The Tea Leaves On Mexico, Canada And China Tariffs
It's still unclear whether the delay in the imposition of U.S. tariffs on Canadian and Mexican imports will result in negotiated resolutions or a full-on trade war, but the outcome may hinge on continuing negotiations and the Trump administration's possible plans for tariff revenues, say attorneys at Eversheds Sutherland.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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Justices' Certiorari Denial Leaves Interstate Tax Questions
Since the U.S. Supreme Court recently declined to review a Philadelphia resident’s claim that her Delaware state income taxes should be credited against her city wage tax liabilities, constitutional questions about state and local tax distinctions linger, and some states may continue to apply Supreme Court precedent differently, say attorneys at Dentons.
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10 Issues To Watch In Aerospace And Defense Contracting
This year, in addition to evergreen developments driven by national security priorities, disruptive new technologies and competition with rival powers, federal contractors will see significant disruptions driven by the new administration’s efforts to reduce government spending, regulation and the size of the federal workforce, say attorneys at Thompson Hine.
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Defense Strategies For Politically Charged Prosecutions
Politically charged prosecutions have captured the headlines in recent years, providing lessons for defense counsel on how to navigate the distinct challenges, and seize the unique opportunities, such cases present, says Kenneth Notter at MoloLamken.
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Series
Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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The Pros And Cons Of A 2nd Trump Term For UK Tech Sector
While U.S. President Donald Trump’s protectionist stance on trade could disrupt global supply chains on which many U.K. tech firms are reliant, anticipated deregulation could provide fertile ground for investment and growth, and the U.K. tech sector is bracing for a mix of opportunities, say lawyers at Shoosmiths.
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Corp. Transparency Act's Future Under Treasury's Bessent
The Corporate Transparency Act’s ultimate fate faced uncertain terms at the end of 2024, but new U.S. Department of the Treasury Secretary Scott Bessent's statements and actions so far demonstrate that he does not intend to ignore the law, though he may attempt to make modifications, say attorneys at Taylor English.
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A Look At A Possible Corporate Transparency Act Exemption
Attorneys at Kirkland offer a deep dive into the application of the Corporate Transparency Act's reporting requirements specifically to U.S.-domiciled co-issuers in typical collateralized loan obligation transactions, and consider whether such issuers may be able to assert an exemption from the CTA's reporting requirements.
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Opinion
Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.
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In-House Counsel Pointers For Preserving Atty-Client Privilege
Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.