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Tax
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February 03, 2025
White & Case Gets Tax Pro From Latham
White & Case LLP has added a former Latham & Watkins LLP senior associate to serve as a partner in its London office, the firm announced.
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February 03, 2025
DC Judge Joins RI In Blocking Trump Funding Freeze
A D.C. federal judge on Monday temporarily blocked the Trump administration from implementing a freeze on federal spending while a group of nonprofits sue over the move, ruling the pause appears to "suffer from infirmities of a constitutional magnitude."
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February 03, 2025
EPPO Probes Steel Tax Fraud In UK And Germany
The European Public Prosecutor's Office is investigating suspected tax fraud linked to imports of Indian steel into Germany via the U.K. to dodge the European Union's import duties, the office said Monday.
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February 03, 2025
US Tariffs On Mexico And Canada Paused For One Month
President Donald Trump said Monday that he will suspend the imminent 25% tariffs on Mexican and Canadian goods entering the U.S. for one month after talking with both countries' leaders.
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January 31, 2025
Funding Freezes 'Commonplace,' Feds Tell DC Judge
The Trump administration is asking a D.C. federal judge to throw out a lawsuit challenging a freeze on federal spending outlined in a since-rescinded memo from the White House budget office, telling the court that the withdrawal moots the litigation.
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January 31, 2025
Supreme Court Eyes Its 'Next Frontier' In FCC Delegation Case
A case about broadband subsidies will give the U.S. Supreme Court the chance to revive a long-dormant separation of powers principle that attorneys say could upend regulations in numerous industries and trigger a power shift that would make last term's shake-up of federal agency authority pale in comparison. And a majority of the court already appears to support its resurrection.
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January 31, 2025
UK Cos. See Brexit's Legacy In Steeper Compliance Costs
British companies doing business in the European Union have seen their tax compliance burden rise as the U.K.'s tax rules have moved further away from EU rules in the five years since Brexit, though the largest companies have been able to absorb the costs.
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January 31, 2025
Trump Threatens 100% Tariffs Over New BRICS Currency
President Donald Trump has lobbed tariff threats at a new group of countries, saying that he would implement 100% tariffs on members of the so-called BRICS coalition — which includes Brazil, Russia, India and China — if they follow through on plans to create a gold-backed currency as an alternative to the U.S. dollar.
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February 14, 2025
Law360 Seeks Members For Its 2025 Editorial Boards
Law360 is looking for avid readers of our publications to serve as members of our 2025 editorial advisory boards.
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January 31, 2025
Goldstein Case Raises The Stakes For A DOJ Office In Tumult
The bombshell tax-crimes case of U.S. Supreme Court lawyer Tom Goldstein landed at a U.S. Department of Justice outpost in Maryland that has been plagued in recent years by botched cases and internal strife — pitting a beleaguered U.S. attorney against a pair of former Donald Trump attorneys itching for a fight.
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January 31, 2025
Trump Funding Freeze Blocked As Court Doubts Reversal
A Rhode Island federal judge on Friday issued a temporary restraining order barring the Trump administration from freezing spending on federal grant and aid programs, calling the move illegal and saying the issue was not mooted by a White House memo claiming the directive had been rescinded.
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January 31, 2025
Tax Group Of The Year: Sullivan & Cromwell
Sullivan & Cromwell LLP's diverse tax practice went from strength to strength this year, from advising well-known companies like Boeing and Discover that inked multibillion-dollar deals to counseling industry leaders in shaking up their sectors, helping it earn a place among the 2024 Law360 Tax Groups of the Year.
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January 31, 2025
Taxation With Representation: Cravath, Gibson Dunn, Milbank
In this week's Taxation with Representation, Eversource Energy sells Aquarion Water Co., Diversified Energy Partners acquires oil and gas company Maverick, Lantheus Holdings buys Evergreen Theragnostics, and NASCAR champion Jimmie Johnson becomes the majority owner in the Legacy Motor Club racing team.
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January 31, 2025
6th Circ. Affirms Pot Biz Owner's $2.8M Tax Restitution
The owner of a medical marijuana dispensary who was sentenced to prison and ordered to pay $2.8 million in restitution to the IRS after being convicted of tax crimes failed to convince the Sixth Circuit that Congress lacked the power to tax his sales of the drug.
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January 31, 2025
Trump Initiates Trade War With 25% Tariffs On Canada, Mexico
President Donald Trump said Saturday he is imposing 25% tariffs on imports from Mexico and Canada, and a 10% tariff on imports from China, citing the U.S. national security risks associated with illegal drug flows.
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January 30, 2025
Retired Atty Says Schwab, Others Flubbed His Contributions
A retired attorney said companies that managed his individual retirement plan, including Charles Schwab and Barnes & Thornburg LLP, hampered his tax savings by incorrectly classifying his pretax retirement contributions as posttax contributions, according to a lawsuit filed in an Indiana district court.
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January 30, 2025
Florida Salesman Evaded $2M In Tax Over 13 Years, Court Told
A Florida salesman evaded nearly $2 million in taxes over more than a dozen years while earning more than $10 million by transferring his home and cash to his domestic partner and creating a nominee business, according to an indictment in Florida federal court.
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January 30, 2025
Telecom Loses $23M Pa. Tax Case Over Private Line Services
A telecommunications company is liable for $23 million in gross receipts tax assessed on its services' fees because the private line services it contested were not exempt, the Pennsylvania Commonwealth Court held.
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January 30, 2025
Tax Group Of The Year: Skadden
Skadden Arps Slate Meagher & Flom LLP's tax practice advised on key deals and cases in 2024, including Mars Inc.'s $35.9 million acquisition of Kellanova and BlackRock Inc.'s $12.5 billion acquisition of Global Infrastructure Partners, landing it among the 2024 Law360 Tax Groups of the Year.
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January 30, 2025
Dechert's NY Office Adds Tax Pro From Milbank
Dechert LLP said it has bolstered its global tax group by adding a former special counsel from Milbank LLP to the firm's New York office.
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January 30, 2025
Energy Group Urges UK To Link To EU's Carbon-Tax Measure
The U.K. government should link to the European Union's Emissions Trading System to mitigate the impact of carbon border taxes on businesses in Northern Ireland, an energy industry group said.
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January 29, 2025
Court Garbled Pharma Owner's Fraud Charges, 6th Circ. Told
An Ohio district court misrepresented healthcare fraud charges against a pharmaceutical salesman to a jury, his attorney argued Wednesday before the Sixth Circuit, calling for the court to overturn his 2023 conviction and subsequent restitution order to pay $7 million to the IRS.
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January 29, 2025
Pension Plans Seek Trader's Testimony In $2B Tax Fraud Suit
Pension plans and individuals who Denmark's government alleges received fraudulent refunds have asked a New York federal court to allow U.K. court testimony into the record from a trader who Danish authorities say masterminded a $2.1 billion tax fraud, saying it shows he deceived other participants.
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January 29, 2025
Tom Goldstein Seeks To Shield DC Home In Tax Crimes Case
Appellate lawyer and SCOTUSblog publisher Tom Goldstein asked a Maryland federal judge Wednesday if he could put up three South Carolina properties as collateral for his pretrial release in place of his Washington, D.C., home as he faces charges of tax evasion and mortgage fraud.
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January 29, 2025
SCOTUSBlog Publisher Faces Tough Odds In Tax Crimes Case
SCOTUSblog publisher Tom Goldstein, an expert U.S. Supreme Court lawyer accused of paying gambling debts with funds from his law firm and dodging taxes, faces an uphill battle given the considerable amount of evidence the government has already included in an indictment against him, attorneys told Law360.
Expert Analysis
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Series
Boxing Makes Me A Better Lawyer
Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.
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Opinion
Industry Self-Regulation Will Shine Post-Chevron
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Roundup
After Chevron
Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 37 different rulemaking and litigation areas.
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Opinion
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Series
Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
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Tracking Implementation Of IRA Programs As Election Nears
As the Biden administration races to cement key regulations implementing the Inflation Reduction Act, a number of the law's programs and incentives are at risk of delay or repeal if Republicans retake control of Congress, the White House or both — so stakeholders should closely watch ongoing IRA implementation and guidance, say attorneys at Squire Patton.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.
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Takeaways From Justices' Redemption Insurance Decision
The U.S. Supreme Court’s recent decision in Connelly v. U.S. examines how to determine the fair market value of shares in a closely held company for estate tax purposes, and clarifies how life insurance held by the company to enable redemption of a decedent’s shares affects that calculation, says Evelyn Haralampu at Burns & Levinson.
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6 Tips For Maximizing After-Tax Returns In Private M&A Deals
With potential tax legislation likely to spur a surge in private business sales, sellers can make the most of after-tax proceeds with strategies that include price allocation and qualified investment options, say Isaac Grossman and Daniel Studin at Morrison Cohen.
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After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1
The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.
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Factors For London Cos. To Consider If Adding US Listings
Recent reports of a continuing valuation gap between London and New York have resulted in some London-listed companies considering U.S. listings to gain an increased investor base, but with various obligations and implications involved in such a move, organizations should consider whether there is a real benefit from trading there, say lawyers at Winston & Strawn.
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Recruitment Trends In Emerging Law Firm Frontiers
BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.
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Series
Glassblowing Makes Me A Better Lawyer
I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.
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What DOL Fiduciary Rule Means For Private Fund Managers
Attorneys at Ropes & Gray discuss how the U.S. Department of Labor's recently released final fiduciary rule, which revises the agency's 1975 regulation, could potentially cause private fund managers' current marketing practices and communications to be considered fiduciary advice, and therefore subject them to strict prohibitions.