Tax

  • June 07, 2024

    Trump Can Bring Atty To Presentence Interview

    A New York judge ruled Friday that Donald Trump can bring his attorney with him when he sits down with a New York City probation officer for a presentence interview, granting an unusual accommodation to the former president before he is sentenced for his criminal conviction next month.

  • June 07, 2024

    3rd Circ. Backs NJ In Pipeline Co.'s Business Tax Fight

    The Third Circuit ruled Friday that New Jersey's partnership filing fee is a state affair that can't be challenged in federal court, dealing a blow to a pipeline company seeking to shed the cost because it does very little business in the state.

  • June 07, 2024

    6th Circ. Finds Ethical Lapses Justify Bar On Firm's Outreach

    The Sixth Circuit said Thursday a Michigan federal judge shouldn't have faulted a law firm for attacking a proposed tax foreclosure class-action settlement in solicitation letters, but nevertheless upheld the judge's order barring contact with certain class members because of the firm's actual ethical lapses.

  • June 07, 2024

    Dentons Adds Pair Of Husch Blackwell Tax Attys

    Two South Carolina tax attorneys have joined Dentons' corporate, tax and private client practice as partners after moving from Husch Blackwell LLP, the firm announced on Thursday.

  • June 07, 2024

    Fed. Circ. Panel Doubts Bid To Nix Actavis' $12M Deduction

    A Federal Circuit panel seemed skeptical of the government's bid to overturn a decision allowing drugmaker Actavis to deduct $12 million it spent fending off lawsuits as it secured approval to sell generics, raising the question during oral arguments Friday whether the company was being uniquely targeted.

  • June 07, 2024

    Tax Discriminates Against Risky Assets, Dutch Court Says

    The Netherlands must compensate investors for a tax on investment income that discriminates against riskier assets by using calculations of fictitious returns, the Dutch Supreme Court said.

  • June 06, 2024

    NRA Can't Undo $6.4M Misconduct Verdict In NY AG Case

    A New York judge on Thursday rejected a request by the National Rifle Association and its longtime executives to set aside a jury's $6.4 million verdict that found they misspent charitable funds, saying Attorney General Letitia James provided sufficient evidence for the jurors to rule in her favor.

  • June 06, 2024

    Oil Cos. Stifle Bids For Tax Transparency, SEC Letters Show

    At least three oil companies have stifled proposals initiated by the nonprofit Oxfam America for public country-by-country reporting of business activities, profits and taxes this year, according to letters from the U.S. Securities and Exchange Commission obtained by Law360.

  • June 06, 2024

    'Brothel' Manager Violated Bail After $5.7M Sting, Feds Say

    A manager and bookkeeper facing federal charges connected to a COVID-19 grant and tax fraud scheme at a Connecticut strip club violated his bail conditions by showing up at the facility and "hanging out" with a potential witness, federal probation authorities have alleged.

  • June 06, 2024

    Ex-IRS Worker Indicted In $2M Exxon Credit Theft Scheme

    A former Internal Revenue Service employee used his account management job at the agency to steal more than $2 million worth of tax credits from Exxon Mobil and pocket the money, according to a Utah federal grand jury indictment.

  • June 06, 2024

    Fox Rothschild Brings On Tax Pro From Atlanta Boutique

    Fox Rothschild LLP has added an attorney in Atlanta from tax law boutique Wiggam Law to strengthen the firm's taxation and wealth planning department.

  • June 06, 2024

    Justices Affirm Taxing Of Estate On Insurance Payout

    The U.S. Supreme Court affirmed on Thursday a decision denying a tax refund to the estate of an owner of a building materials company that used a payout from his $3.5 million life insurance policy to purchase his shares in the business.

  • June 05, 2024

    CohnReznick Scores Quick Exit In Tax Scheme Suit

    A New York federal judge agreed to toss a housing partnership's suit accusing accounting firm CohnReznick LLP of professional negligence and fraud, finding that the district court doesn't have jurisdiction over the dispute.

  • June 05, 2024

    Nigeria Holding US Binance Exec Hostage, Lawmakers Say

    The White House's hostage negotiator should begin seeking the release of a top executive at cryptocurrency exchange Binance whom the Nigerian government is holding personally liable for tax evasion charges against the company, the House Foreign Affairs Committee's chairman has said.

  • June 05, 2024

    Ill. Budget Has Higher Cap On NOLs, Sports Betting Tax Hike

    Illinois will extend a cap on corporate net operating loss deductions, increase its sports betting tax and reduce sales tax rebates for retailers under a $53.1 billion fiscal year 2025 budget signed Wednesday by Democratic Gov. J.B. Pritzker.

  • June 05, 2024

    Colo. To Exempt Modular Homes From Sales Tax

    Colorado will exempt new modular home sales from state tax under a bill signed into law by Gov. Jared Polis.

  • June 05, 2024

    Trump Gag Order Still Needed Through Sentencing, DA Says

    Manhattan District Attorney Alvin Bragg's office has asked a judge not to lift the gag order on Donald Trump before the convicted former president's sentencing next month, arguing in a letter released Wednesday that there is still a need to "protect the integrity" of the hush money case.

  • June 05, 2024

    NY Gov. Indefinitely Halts Manhattan Congestion Pricing

    New York Gov. Kathy Hochul on Wednesday shelved congestion pricing just weeks before officials were set to implement a fee for vehicles entering Manhattan's busiest corridor, in a dramatic about-face following intense backlash and litigation from residents and business owners grappling with the high cost of living.

  • June 05, 2024

    Loeb & Loeb Expands Nonprofit Services With Attys In DC, NY

    Loeb & Loeb LLP has strengthened its services to charitable organizations with this week's addition of two attorneys in New York and Washington, D.C., with deep experience in the public and private sector assisting nonprofits in achieving their goals.

  • June 05, 2024

    Billionaire's 'Naive' Stock-Trading Pilot Asks For No Prison

    A private pilot for U.K. billionaire Joe Lewis is asking for no prison time after pleading guilty to insider trading on stock tips provided by his boss, arguing that he has otherwise lived a law-abiding life and is less culpable than many white-collar defendants who've come through the Manhattan federal court.

  • June 05, 2024

    NY Gov. Denies Cop-Shoving Judge New Term

    A Buffalo judge censured for brawling with neighbors, shoving a police officer and bragging about his ties to power was denied a second term by New York Gov. Kathy Hochul, who took the unusual step of rejecting the judge's request for reappointment.

  • June 04, 2024

    Trump Wants Gag Orders Terminated In Wake Of Guilty Verdict

    Donald Trump asked a New York County judge to terminate gag orders restricting the former president from making out-of-court statements during his criminal trial, arguing that the "restrictions" on his First Amendment rights are no longer warranted now that the trial has come to an end.

  • June 04, 2024

    Sen. Leaders Press Biden's Tax Court Nominees On Fairness

    Senate Finance Committee leaders pressed President Joe Biden's three new judicial nominees for the U.S. Tax Court to explain Tuesday how they would extend fair treatment to taxpayers if they are confirmed.

  • June 04, 2024

    Tax Law Firm Can't Kick Ex-Clients' Class Suit To Arbitration

    Former clients of a Florida-based tax law firm who live in Wisconsin can move forward with their proposed class action accusing the firm of malpractice and charging illegal fees, a Wisconsin federal judge ruled Tuesday, rejecting the firm's requests to toss the suit or move it to arbitration.

  • June 04, 2024

    First Citizens Bank Seeks $15M Tax Refund After Bailout

    First Citizens bank is seeking a $15 million refund from the North Carolina Department of Revenue stemming from taxes it paid on a federal bailout it received during the mid-2000s financial crisis, according to a filing in the state court.

Expert Analysis

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • Deciding What Comes At The End Of WTO's Digital Tariff Ban

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    Companies that feel empowered by the World Trade Organization’s recent two-year extension of the ban on e-commerce tariffs should pay attention to current negotiations over what comes after the moratorium expires, as these agreements will define standards in international e-commerce for years to come, say Jan Walter, Hannes Sigurgeirsson and Kulsum Gulamhusein at Akin Gump.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • Consider 2 Alternative Exit Plans In RE Distress Scenarios

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    In the face of an impending wave of foreclosures, lenders and borrowers alike should consider two exit strategies — deed-in-lieu of foreclosure and consent foreclosure — that can mitigate potential costs and diminution in property value that could be incurred during a lengthy proceeding, say attorneys at BCLP.

  • Tips For Balanced Board Oversight After A Cyberincident

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    The U.S. Securities and Exchange Commission's cybersecurity disclosure rules, as well as recent regulatory enforcement actions bringing board governance under scrutiny, continue to push boards toward active engagement in relation to their cyber-oversight role, despite it being unclear what a board's level of involvement should be, say attorneys at Alston & Bird.

  • Opinion

    SC's Courts Have It Wrong On Amazon Marketplace Sales Tax

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    The South Carolina Supreme Court should step in and correct the misguided change in tax law effectuated by lower court rulings that found Amazon owes state sales tax for marketplace sales made prior to the U.S. Supreme Court’s Wayfair v. South Dakota decision in 2018, says Hayes Holderness at the University of Richmond.

  • IRS Sings New Tune: Whistleblower Form Update Is Welcome

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    In a significant reform at the Internal Revenue Service's Whistleblower Office, the recently introduced revisions to the Form 211 whistleblower award application use new technology and a more intuitive approach to streamline the process of reporting allegations of tax fraud committed by wealthy individuals and companies, says Benjamin Calitri at Kohn Kohn.

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

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    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

  • This Earth Day, Consider How Your Firm Can Go Greener

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    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • Energy Community Tax Credit Boost Will Benefit Wind Sector

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    Recent Internal Revenue Service guidance broadening tax credit eligibility to more parts of offshore wind facilities in so-called energy communities is a win for the industry, which stands to see more projects qualify for a particularly valuable bonus in the investment tax credit context due to the capital-intensive nature of offshore wind projects, say attorneys at Troutman Pepper.

  • Weisselberg's Perjury At Trial Spotlights Atty Ethics Issues

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    Former Trump Organization executive Allen Weisselberg’s recent guilty plea for perjury in the New York attorney general's civil fraud trial should serve as a reminder to attorneys of their ethical duties when they know a client has lied or plans to lie in court, and the potential penalties for not fulfilling those obligations, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Series

    Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • Opinion

    Why Supreme Court Should Allow Repatriation Tax To Stand

    If the U.S. Supreme Court doesn't reject the taxpayers' misguided claims in Moore v. U.S. that the mandatory repatriation tax is unconstitutional, it could wreak havoc on our system of taxation and result in a catastrophic loss of revenue for the government, say Christina Mason and Theresa Balducci at Herrick Feinstein.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

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