Tax

  • November 21, 2024

    Ga. Attys' Easement Fraud Class Suit Shipped To State Court

    A Georgia federal judge kicked back to state court a proposed class action accusing conservation easement fund organizers of racketeering and defrauding investors, saying the organizers failed to prove that the proposed class had at least 100 investors or that the case hinged on federal law.

  • November 21, 2024

    Experts Cool On 'Chill' Defense In NJ Rico Case

    Former prosecutors and academics are doubtful two of New Jersey's most politically connected attorneys can convince a judge that the racketeering case against them will have a chilling effect on lawyering, given that prosecutors only have to show they knew the end game of the notorious Democratic power broker they're accused of helping.

  • November 21, 2024

    Ohio City Tax Exemption Isn't Retroactive, Court Affirms

    An Ohio property in a reinvestment area is not eligible for a city's tax exemption offered to remodeled homes, as the remodel was completed before the property was included in the reinvestment district, an Ohio appellate court affirmed Thursday.   

  • November 21, 2024

    Ex-Connecticut Town Officials Appeal Toss Of Defamation Claims

     A group of former officials from Newington, Connecticut, including its onetime town attorney, have appealed a state judge's decision to throw out all of their claims against the town and nearly all against tax assessors they had accused of defaming them with a false ethics complaint.

  • November 21, 2024

    Minn. Tax Court Won't Revisit Stipulated $1M Property Value

    The Minnesota Tax Court rejected a challenge to a $1 million property valuation, saying it had already set that value to reflect a stipulation reached between the local assessor and the previous owner for the assessment date at issue.

  • November 21, 2024

    11th Circ. Asked To Rethink $100M Credit For John Hancock

    The Eleventh Circuit should reverse its decision allowing John Hancock Life Insurance Co. to keep $100 million in foreign tax credits that rightfully belong to the company's investors, trustees of a retirement plan said in arguing that the court overlooked a key U.S. Treasury regulation.

  • November 21, 2024

    Gaetz Ends AG Bid, Citing 'Distraction' To Trump Transition

    Former U.S. Rep. Matt Gaetz withdrew his name from consideration Thursday as President-elect Donald Trump's nominee for attorney general amid allegations of sexual misconduct and drug use.

  • November 21, 2024

    Chewy Investors Sue BC Partners In Del. Over PetSmart Deal

    British international investment giant BC Partners exploited its control of online pet product retailer Chewy Inc. when a BCP affiliate merged into Chewy after divesting its interest in PetSmart Inc., saddling Chewy with a potential $1.9 billion post-deal tax liability, according to a new Delaware Court of Chancery complaint.

  • November 20, 2024

    Musk, Ramaswamy Say High Court Rulings OK Federal Cuts

    Billionaire Elon Musk and former presidential candidate Vivek Ramaswamy, President-elect Donald Trump's picks to lead a newly created "Department of Government Efficiency," on Wednesday said two recent U.S. Supreme Court rulings will give them the authority to cut off power to regulatory agencies and conduct massive federal layoffs.

  • November 20, 2024

    NJ Court Must Revisit Assessor's Workplace Retaliation Claim

    A New Jersey trial court must revisit a municipal tax assessor's workplace retaliation claim as the case used by the court in its decision doesn't exempt assessors from the state's employee protection law, an appellate panel ruled Wednesday.

  • November 20, 2024

    Fla. Tax Preparer Gets 4 Years For Tax Fraud Scheme

    A barred Florida tax preparer was sentenced to four years in prison for falsifying returns to trigger inflated refunds for participants in a three-year tax fraud scheme called the "note program," the U.S. Department of Justice said Wednesday.

  • November 20, 2024

    Feds Want 1 Year In Prison For Accountant Who Hid $1.4M

    An accountant who hid $1.4 million from the IRS should be sentenced to at least a year in prison despite his stated mental health issues, the government told a Connecticut federal court, saying he seemed driven at least partly by greed and thought he wouldn't get caught.

  • November 20, 2024

    Irish Social Democrats Run On Wealth Tax For Millionaires

    Ireland's Social Democrats are campaigning for this month's general election on a 0.5% tax on individuals' assets over €1 million ($1.1 million) — excluding homes, family businesses, art and pensions — and 1% for assets over €2 million, according to its manifesto.

  • November 20, 2024

    NJ Power Broker, Attys Demand Wiretap Docs In RICO Case

    George E. Norcross III, a politically influential insurance executive in New Jersey, and others accused alongside him of a massive racketeering scheme demanded Wednesday that state prosecutors turn over complete wiretap application information dating back to 2016, arguing that those details form the core of the state's case against them.

  • November 20, 2024

    Boston Mayor Touts Property Tax Relief Bill Before Panel

    Massachusetts lawmakers should allow Boston to adjust its property tax calculations to stabilize the share borne by residences, mitigating an impending tax hike, and boost a business personal property tax exemption, Boston's mayor told a legislative panel Wednesday.

  • November 20, 2024

    Trump Wants 'Immediate Dismissal' Of NY Hush Money Case

    President-elect Donald Trump's legal team told the New York judge who presided over his hush money trial that his conviction should be thrown out due to his "overwhelming victory" at the polls, according to a filing released Wednesday.

  • November 19, 2024

    Turkish Tax Inspectors Target Alcohol Cos. For Evasion

    Turkish tax inspectors raided 100 addresses tied to alcohol businesses as part of an ongoing crackdown against suspected tax evasion by companies with 100 billion lira ($2.9 billion) in combined revenue, Turkey's Ministry of Treasury and Finance told state news media.

  • November 19, 2024

    'Survivor' Winner Needs To Pay $3.3M Tax Bill, Judge Advises

    The winner of the "Survivor" television series who evaded taxes on his $1 million in prize money and served time in prison should pay $3.3 million of his civil liabilities, including fraud penalties, a federal magistrate judge said.

  • November 19, 2024

    Ohio Board OKs Income Approach In Two Theater Valuations

    Two Ohio movie theaters should be valued using the income approach to valuation applied by a county appraiser, the state tax board said in separate rulings involving two counties.

  • November 19, 2024

    G20 To Cooperate On Soft Law For Taxing Ultra-Wealthy

    Leaders of the world's largest economies intend to cooperate on taxing "ultra-high-net-worth individuals" through soft law approaches such as exchanging best practices and creating model policies that address tax avoidance, according to a Group of 20 Nations declaration.

  • November 19, 2024

    Liberty Global Tax Break Based On Void Moves, 10th Circ. Told

    The economic substance doctrine is broad and can invalidate telecommunications company Liberty Global's transaction that led to a $2.4 billion deduction because steps taken to maximize the tax break lacked business purpose, a government attorney told the Tenth Circuit on Tuesday.

  • November 19, 2024

    IRS Can Extend Deadline Over Preparer's Fraud, 3rd Circ. Told

    The Third Circuit should affirm a U.S. Tax Court ruling allowing the Internal Revenue Service to skirt the normal deadlines and assess taxes going back to 1993 against a couple who were unaware that their tax preparer had falsified their returns to lower their liabilities, the government said.

  • November 19, 2024

    DA Says Trump Sentencing Could Be Delayed Until 2029

    Manhattan prosecutors on Tuesday suggested that President-elect Donald Trump's criminal sentencing could be delayed until after he serves out his next term, but urged a judge not to throw out his conviction over an alleged hush money scheme.

  • November 19, 2024

    Treasury Finalizes Partnership Tax Credit 'Direct Pay' Regs

    The U.S. Treasury Department finalized regulations Tuesday to make it easier for tax-exempt entities that co-own development projects to qualify for a direct cash payment of clean energy tax credits by electing out of their partnership tax status.

  • November 18, 2024

    EU Members Face Choice Over Trump Tax Stance, Group Says

    Member states of the European Union will have to pick a side if President-elect Donald Trump's incoming administration abandons global tax reform, the Tax Justice Network said Monday.

Expert Analysis

  • 3 Ways To Train Junior Lawyers In 30 Minutes Or Less

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    Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.

  • Expect Surging Oil And Gas Industry Under New Trump Admin

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    Throughout his recent campaign, President-elect Donald Trump promised increased oil and natural gas production and reduced reliance on renewables — and his administration will likely bring more oil and gas dealmaking, faster federal permitting and attempts to roll back incentives for green energy, say attorneys at Sidley.

  • The Bar Needs More Clarity On The Discovery Objection Rule

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    Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.

  • Series

    Being A Navy Reservist Makes Me A Better Lawyer

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    Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.

  • Cos. Should Inventory Issues To Prep For New Congress

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    As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.

  • Conservation Easement Cases Weave Web Of Uncertainty

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    Much of the IRS and Justice Department’s recent success in prosecuting syndicated conservation easement cases can be attributed to the government’s focus on the so-called PropCo ratio, which could indicate treacherous waters ahead for participants and their advisers, even under the incoming Trump administration, say attorneys at Polsinelli.

  • So You Want To Move Your Law Practice To Canada, Eh?

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    Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

  • Legislation Most Likely To Pass In Lame Duck Session

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    As Congress begins its five-week post-election lame duck session, attorneys at Greenberg Traurig break down the legislative priorities and which proposals can be expected to pass.

  • What Trump's 2nd Presidency Could Mean For Crypto Sector

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    Trump's second term will bring a fundamental shift from the Biden administration's approach to crypto-asset regulation and banking supervision, with the most significant changes likely taking effect in the first two quarters of 2025 and broader policy shifts emerging over the next year, say attorneys at Cahill.

  • Promoting Diversity In The Selection Of ADR Neutrals

    Excerpt from Practical Guidance
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    Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.

  • Series

    Playing Ultimate Makes Us Better Lawyers

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    In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron. 

  • Considering Chevron's End Through A State Tax Lens

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    States took the lead in encouraging Chevron's demise, turning away from Chevron-type deference in state tax administration ahead of the U.S. Supreme Court’s Loper Bright decision, a trend likely to accelerate as courts take a more active role in interpreting tax laws, say attorneys at Eversheds Sutherland.

  • E-Discovery Quarterly: Recent Rulings On Metadata

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    Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.

  • Kentucky Tax Talk: Finally Better Online Records At Revenue?

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    The Kentucky Department of Revenue has not taken significant visible steps toward complying with legislation requiring it to post administrative guidance on its website starting no later than Nov. 15, and refusal to do so would widen the transparency gap between the state and its more business-friendly neighbors, say attorneys at Frost Brown.

  • Striking A Balance Between AI Use And Attorney Well-Being

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    As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.

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