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Tax
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March 20, 2025
Frost Brown Adds Former Houston City Atty To Finance Team
Frost Brown Todd LLP announced that it has hired an attorney from the ranks of Houston's city government to strengthen its public finance group, adding his expertise in state and local government operations, taxation and economic development.
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March 20, 2025
Former Ore. Doctor's Deduction For Insurance Premiums OK'd
A former Oregon doctor's payments of $2.5 million to a captive insurer are deductible from his state taxable income, the Oregon Tax Court ruled, saying an agreement the taxpayer reached with the Internal Revenue Service did not bar the deductions.
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March 19, 2025
NY DOT Says Feds' Bid To Kill Congestion Pricing Is 'Unlawful'
The New York State Department of Transportation told a Manhattan federal judge Wednesday that the Trump administration's efforts to kill New York City's congestion pricing program unlawfully interfere with the Empire State's authority to implement state law and protect New Yorkers' health and welfare.
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March 19, 2025
7th Circ. Orders Tax Court To Clarify ESOP Suit Dismissal
The Seventh Circuit axed the U.S. Tax Court's dismissal of a transit company's suit over an employee stock ownership plan, saying the lower court must specify that it lacked the authority to review the case because it was filed before the IRS completed an exam.
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March 19, 2025
6th Circ. Says Pharmacist Doesn't Owe Tax On Forfeited IRA
A pharmacist doing time for running a Kentucky pill mill doesn't owe taxes on his forfeited retirement account, the Sixth Circuit ruled Wednesday, reversing a U.S. Tax Court decision that upheld what the appeals court described as an unexpected punishment.
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March 19, 2025
Satellite Startup Execs Accused Of Fraud And Tax Evasion
An aerospace company's founder, an attorney and other executives lied about a venture to launch billions of dollars in satellites so they could rake in millions from investors, according to an indictment in D.C. federal court that also charges the founder with tax crimes.
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March 19, 2025
Goldstein Says Feds 'Misled' Court With Obstruction Claim
U.S. Supreme Court lawyer and SCOTUSblog publisher Tom Goldstein wants a Maryland federal judge to sanction prosecutors in his tax evasion case for a "pattern of false and misleading statements" to the court accusing him of hiding millions in cryptocurrency and bribing his former law firm manager.
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March 19, 2025
DC Judge Won't Preemptively Stop IRS Data Sharing With DHS
A D.C. federal judge on Wednesday said two immigrant rights groups had not shown that the IRS is poised to unlawfully share noncitizen taxpayer records with immigration enforcement authorities, rejecting their bid for a court order that would preemptively block any information transfer.
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March 19, 2025
Switzerland, Zimbabwe Sign Tax Treaty
Switzerland and Zimbabwe signed an agreement Wednesday for a treaty to avoid double taxation of income, an expansion of the Swiss treaty network in southern Africa that has been welcomed by cantons and businesses, according to Switzerland's competent authority.
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March 19, 2025
Law360 Announces The Members Of Its 2025 Editorial Boards
Law360 is pleased to announce the formation of its 2025 Editorial Advisory Boards.
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March 19, 2025
Disclosure Woes Sink £13M Fraud Trial Against Film Execs
Prosecutors have abandoned a decade-long fraud case in which four former managers at a film production company were accused of cheating taxpayers out of £13 million ($17 million) because of insurmountable disclosure failures that sunk the case mid-trial.
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March 18, 2025
Tax Court Cleared To Resolve IRS Offset Feud, Justices Told
The U.S. Tax Court can still adjudicate a case challenging an Internal Revenue Service collection action even after the agency tried to improperly zero out the disputed liability in an attempt to dismiss the suit, a New Jersey woman told the U.S. Supreme Court.
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March 18, 2025
Trump Hasn't Asked IRS For Immigrants' Tax Info, Gov't Says
The IRS hasn't received any requests from President Donald Trump for immigrants' tax return information and hasn't released any such information to the U.S. Department of Homeland Security, the government told a D.C. federal court in opposing a restraining order sought by immigrant rights groups.
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March 18, 2025
Judge Probes Atty Conflict In Vanguard $40M Settlement
A Pennsylvania federal judge questioned whether attorneys representing investors suing Vanguard over surprise tax bills have a conflict of interest in pushing for a $40 million settlement, adding to concerns about a parallel regulatory settlement that has delayed approval of the deal.
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March 18, 2025
Bank Groups Push For Permanent Block On Ill. Swipe Fee Law
Banking industry groups moved late Monday to deliver a final blow to an Illinois state law that bans swipe fees on tax and tip portions of payment card transactions, asking a Chicago federal judge to go ahead and finish off the ban before it takes effect this summer.
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March 17, 2025
Florida Businessman Pleads Guilty To Hiding $20M From IRS
A Florida businessman faces up to five years in prison after he pled guilty Monday to hiding $20 million in Swiss bank accounts from the Internal Revenue Service.
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March 17, 2025
Split 9th Circ. Won't Halt Federal Workers Reinstatement Order
A divided Ninth Circuit panel on Monday denied President Donald Trump's administration an immediate administrative stay of a California district court order requiring reinstatement of some probationary federal workers fired from six agencies, the majority saying a pause "would disrupt the status quo and turn it on its head."
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March 17, 2025
Ore. Lawmakers OK $5B Insurer, Hospital Tax Extension
Oregon would extend medical provider and insurance assessments otherwise slated to expire, raising $5 billion for the state's healthcare programs over four years, under legislation passed Monday by the state Senate.
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March 17, 2025
UK Court Affirms £300K Tax Bill For Ex-Soccer Star's TV Gig
The First-tier Tribunal was correct to find that Sky UK Ltd. employed Phil Thompson, the former captain of the Liverpool Football Club, for television appearances through his intermediary company that is liable for nearly £300,000 ($390,000) in income tax and national insurance contributions, the Upper Tribunal said Monday.
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March 17, 2025
Kleinberg Kaplan Adds Simpson Thacher Atty As Tax Partner
Kleinberg Kaplan announced Monday that it has added a Simpson Thacher & Bartlett LLP attorney to help provide clients with expertise on tax aspects of private investment fund formation and operation, as well as mergers and acquisitions, joint ventures and financings.
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March 17, 2025
High Value Dubious In $23M Easement Dispute, 11th Circ. Told
A partnership that claimed a $23 million tax deduction for a conservation easement donation failed to consider the lack of market demand for a potential quarry it used to justify the land's high value, the U.S. government told the Eleventh Circuit.
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March 17, 2025
DC Commercial Property Taxable Values Drop Nearly 8%
Commercial property values in Washington, D.C., dropped 7.87% in their 2025 assessments compared with a year earlier, the district's tax office said.
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March 17, 2025
Bradley Adds Tax And Estates Partner To Tampa Team
Bradley Arant Boult Cummings LLP has hired the former leader of a trusts and estate group, who is joining the firm in Tampa as a partner to continue his more-than 20 year practice working with the gamut of estate planning issues, the firm recently announced.
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March 14, 2025
Whistleblower Hasn't Proved Retaliation In Tariff Fraud Case
A former employee of two defunct footwear companies has not shown her boss fired her for confronting him about a scheme she alleged he ran to lower tariffs on certain shoes, a New York federal court ruled, letting her claim that he ran the scheme continue to trial.
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March 14, 2025
Mich. Panel Revives Hangar's Property Tax Challenge
The Michigan Court of Appeals revived a company's argument that it is exempt from a city's tax on a hangar it leased from a regional airport authority, saying the state Tax Tribunal should have required the municipality to prove that a tax statute applied to the company.
Expert Analysis
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Trump's Energy Plans: Funding, Permits And Nuclear Power
In the wake of President Donald Trump's flurry of first-day executive orders focusing on the energy sector, attorneys at Gibson Dunn analyze what this presidency will mean for energy-related grants and loans, changes to permitting processes and developments in nuclear power.
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When Innovation Overwhelms The Rule Of Law
In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.
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What Compensation Committees Must Keep In Mind In 2025
New disclosure obligations, an evolving discussion on the analysis of executive perks and updated proxy adviser policies — on top of a new presidential administration — are all important things compensation committees must pay close attention to in 2025, say attorneys at Simpson Thacher.
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Anticipating Direction Of Cosmetics Regulation Under Trump
It is unclear how cosmetics regulation reform from the last few years will fare under President Donald Trump, but the new administration's emphasis on deregulation and Robert F. Kennedy Jr.'s views on product safety provide some insight, say attorneys at Crowell & Moring.
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IRS Basis-Shifting Rule Poses Notable Reporting Obligations
While the IRS’ recently finalized rule requiring partnerships to report certain related-party basis adjustment transactions is narrower than originally proposed, taxpayers and their advisers will still need to comb through myriad transactions to comply, say attorneys at Debevoise.
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Imagine The Possibilities Of Openly Autistic Lawyering
Andi Mazingo at Lumen Law, who was diagnosed with autism about midway through her career, discusses how the legal profession can create inclusive workplaces that empower openly autistic lawyers and enhance innovation, and how neurodivergent attorneys can navigate the challenges and opportunities that come with disclosing one’s diagnosis.
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Series
Documentary Filmmaking Makes Me A Better Lawyer
Becoming a documentary filmmaker has allowed me to merge my legal expertise with my passion for storytelling, and has helped me to hone negotiation, critical thinking and problem-solving skills that are important to both endeavors, says Robert Darwell at Sheppard Mullin.
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Litigation Funding Disclosure Debate: Strategy Considerations
In the ongoing debate over whether courts should require disclosure of litigation funding, funders and plaintiffs tend to argue against such mandates, but voluntarily disclosing limited details about a funding arrangement can actually confer certain benefits to plaintiffs in some scenarios, say Andrew Stulce and Marc Cavan at Longford Capital.
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Top Considerations For Insurance Companies In 2025
As insurance industry participants look to plan for the year, regulatory changes, climate-related challenges, the ongoing effects of social inflation and the potential for significant mergers and acquisitions will be among the key items for insurer boards and management to have on their radar, say attorneys at Debevoise.
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Scope And Nature Of Judicial Relief Will Affect Loper's Impact
The practical result of post-Loper Bright rulings against regulatory actions will depend on the relief courts grant — and there has been controversy in these types of cases over whether the ruling is applied just to the parties or nationwide, and whether the action can be left in place while it's corrected, says Steven Gordon at Holland & Knight.
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Series
Adventure Photography Makes Me A Better Lawyer
Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.
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5 Ways To Create Effective Mock Assignments For Associates
In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.
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Opinion
Congress Should Pass Sex Abuse Settlement Tax Exemptions
The proposed Survivor Justice Tax Prevention Act would expand tax exemptions more clearly for sexual abuse cases, and finally remove the stigma around compensation for emotional and psychological damage, says Rocco Strangio at Milestone & Co.
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What's Next For Accounting Enforcement After SEC's Big 2024
The U.S. Securities and Exchange Commission under the Trump administration will likely continue to focus enforcement efforts on many of the same accounting and auditing issues that it pursued over the past year — but other areas, such as ESG, internal controls and cryptocurrency cases, may fall out of focus, say attorneys at Debevoise.
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Mentorship Resolutions For The New Year
Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.