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Tax
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July 31, 2024
Wash. Court To Rethink Gas Chain's Tax Duty On Fuel Cards
A Washington state appeals court said it would reconsider its May decision that a Pacific Northwest gas station chain that issued fuel cards to customers must pay the state business and occupation tax when holders of those cards purchase gas from other participating gas station chains.
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July 31, 2024
Separate Easement Contribution Docs Critical, IRS Atty Says
Conservation easement donors must always keep separate documents from their donees that acknowledge the gifted property to qualify for a charitable tax deduction in the event the IRS requests such information during an audit, according to an agency counsel Wednesday.
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July 31, 2024
SEC Asked For Public Tax Reporting By Group With $2.3T
The U.S. Securities and Exchange Commission was asked Wednesday to begin a rulemaking procedure to require public country-by-country reporting of tax by nearly 90 investment funds, labor unions, activists and others with combined assets over $2.3 trillion.
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July 31, 2024
Wash. Cannabis Co. Sues Payroll Firm Over Back Taxes
A Puget Sound-area dispensary is suing Greenleaf HR LLC, a payroll provider specializing in the cannabis industry, and another firm, claiming they failed to pay the IRS on its behalf resulting in a nearly $172,500 tax bill, according to a lawsuit removed to Washington federal court.
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July 31, 2024
Minn. Tax Court Agrees Parking Lot's Value Is $4M, Not $10M
A Minneapolis parking lot would be best valued as a buy-and-hold investment property and thus its assessed value should be lowered from $10.3 million to $3.9 million, the Minnesota Tax Court said.
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July 31, 2024
Minn. Shopping Center's $97M Value Upheld By State Justices
A Minnesota shopping center was correctly valued for tax purposes at nearly $97 million, the state Supreme Court said Wednesday, rejecting the property owner's argument that the valuation should consider a calculation of effective rent instead of market rent.
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July 31, 2024
4 Mass. Rulings You May Have Missed In July
Massachusetts state court judges refereed a damages dispute between a real estate titan and a Big Four consultant, ruled in favor of allegedly underpaid healthcare workers and untangled a defamation suit over a labor executive's old social media posts, among other notable rulings during the month of July.
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July 31, 2024
Ex-Chicago Alderman Should Serve Full Supervision, Feds Say
A former Chicago alderman and attorney convicted of tax crimes should not be allowed an early reprieve from his court-ordered supervision because it has become his main form of punishment following his compassionate release from prison, the government has told an Illinois federal court.
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July 31, 2024
TaxAct Customers' Attys Want $5.8M Fee For $23M Deal
The attorneys for TaxAct Inc. customers who secured a $23 million deal to resolve claims that the company was secretly sharing confidential taxpayer information with Meta and Google asked a federal judge to award them more than $5.8 million in fees for their work.
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July 31, 2024
5 Trials To Watch In The 2nd Half Of 2024
Upcoming high-profile trials over star lawyer Tom Girardi's alleged fraud, Hunter Biden's taxes and Washington state's "patent troll" law are among the cases to watch in the latter half of the year.
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July 31, 2024
Judge Won't Undo IRS' Pause On Worker Retention Credits
An Arizona federal judge rejected a tax advisory firm's request to lift the IRS' pause on processing claims for the pandemic-era employee retention credit, saying he wasn't eager to stop the agency from addressing the fraud it alleges has been widespread.
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July 30, 2024
Tribe Says Sovereignty 'Sea Change' At Stake In Tobacco Row
A California tribe has opposed the U.S. government's bid to toss its suit fighting placement on a "non-compliant list" under a law that targets tobacco trafficking, telling a federal judge that forcing it to stop sales would cause a "sea change" in tribal sovereignty.
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July 30, 2024
Ex-HFZ Capital Chief Can't Reduce Bail In $86M Fraud Case
A Manhattan judge on Tuesday denied, for now, a request by the former head of troubled real estate firm HFZ Capital Group to lower a hefty bail requirement so he can get out of Rikers Island while fighting $86 million theft and tax fraud charges.
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July 30, 2024
Legalization Foes Mount New Challenge To NY Pot Program
A group of anti-cannabis activists renewed their challenge to New York's proposal to use public funds to help marijuana retailers launch their businesses, alleging in a new state court lawsuit that the policy violates federal law.
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July 30, 2024
Ohio Bill Would Create Credit For Property Tax, Rent
Ohio would allow homeowners and renters to claim a refundable property tax credit or rebate if their property tax or rent-equivalent tax exceeds 5% of their household income under a bill introduced in the House of Representatives.
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July 30, 2024
Challenge To IRS Summons in $90M Easement Suit Tossed
A Mississippi federal judge dismissed a company's request to quash IRS summonses related to a $90 million conservation easement deduction, adopting the rulings of three sister jurisdictions that had dismissed the same challenge on grounds the summonses served a legitimate purpose.
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July 30, 2024
Husch Blackwell Hires UB Greensfelder Partner In St. Louis
Several years after Husch Blackwell LLP's newest partner, Garrett Reuter Jr., graduated from law school, he joined Greensfelder Hemker & Gale PC to work alongside his late father. Now, he's bringing clients he grew up watching his father work with, to a new platform.
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July 30, 2024
UK Healthcare Ex-Directors Banned For £30M In Unpaid Taxes
Two former directors of a defunct U.K. healthcare company are banned from holding executive positions at any business after failing to pay more than £30 million ($38.5 million) in taxes, the government's insolvency agency said Tuesday.
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July 29, 2024
S. Africa Advances WTO Citrus Cases To Panel Stage
South Africa is advancing legal challenges against measures the European Union imposed on citrus imports to guard against infestation by both a specific species of moth and a fungus that blemishes fruit rinds, calling for the establishment of two World Trade Organization dispute panels.
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July 29, 2024
Mich. Top Court Says 2020 Tax Foreclosure Ruling Retroactive
The Michigan Supreme Court on Monday gave retroactive effect to its 2020 decision that said local governments violate homeowners' rights by profiting from the sales of their tax-foreclosed homes, saying Michigan's "robust" history of protecting against takings weighs in favor of making the ruling retroactive.
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July 29, 2024
Utah Biz Groups Latest To Challenge Corp. Disclosure Law
Several small-business associations in Utah became the latest group to challenge the Corporate Transparency Act's disclosure requirements, telling a federal court Monday the statute violates several constitutional provisions, including the guarantee of due process.
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July 29, 2024
Mo. Menards Store Ruled Properly Valued At $17M
A Missouri Menards home improvement store was properly valued at $17 million by a county assessor because the store's appraiser failed to use comparable properties in his valuation, the state Tax Commission affirmed.
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July 29, 2024
Hunter Biden Attys Say They Didn't Mislead Judge In Tax Case
Hunter Biden's attorneys told a Los Angeles federal judge that while several statements in their motion to dismiss tax charges against the president's son were worded "perhaps inartfully," they never intended to mislead the court in a way that would merit sanctions.
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July 29, 2024
NRA Avoids Compliance Monitor In NY AG Case
A Manhattan judge on Monday rejected the New York attorney general's request for a compliance monitor to oversee the National Rifle Association, saying such relief would "result in a long, awkward and potentially speech-chilling government involvement in a political organization."
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July 29, 2024
Wells Fargo Accused Of Race Bias By Bangladeshi Director
A Bangladeshi man who worked as a director for Wells Fargo until he was fired last year is suing the bank for race discrimination and retaliation, saying his manager was "openly uncomfortable" with his ethnicity and was brazen in her mistreatment of him as a result.
Editor's Picks
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Blockchain Tech May Present New Transfer Pricing Challenges
Companies that develop blockchain systems to digitally record transactions may face difficulties when valuing intangibles tied to the decentralized and highly varied technology, creating novel transfer pricing issues for multinational corporations that create their own blockchain networks.
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Trump-Era Tariff Angst Hasn't Gone Away Under Biden
The early days of the Biden administration have been relatively quiet on the trade front, but importers have nevertheless found themselves in the throes of a familiar battle: pleading with the government to hold off on tariffs in a heated trade dispute.
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3 Major Implications For States In Biden's Tax Plans
President Joe Biden's sweeping tax changes proposed to pay for trillions in infrastructure spending would significantly alter the way the federal government taxes corporations, leaving states, for the second time in four years, to decide if and how to conform. Here Law360 presents three considerations for states in the president's tax proposals.
Expert Analysis
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How To Grow Marketing, Biz Dev Teams In A Tight Market
Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.
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Series
Rock Climbing Makes Me A Better Lawyer
Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.
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Contract Disputes Recap: Preserving Payment Rights
Stephanie Magnell and Zachary Jacobson at Seyfarth examine three recent decisions that together illustrate the importance of keeping accurate records and adhering to contractual procedures to avoid inadvertently waiving contractual rights to cost reimbursements or nonroutine payments.
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Think Like A Lawyer: Dance The Legal Standard Two-Step
From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.
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Opinion
After Jarkesy, IRS Must Course-Correct On Captive Insurance
The U.S. Supreme Court’s recent Securities and Exchange Commission v. Jarkesy decision has profound implications for other agencies, including the IRS, which must stop ignoring due process and curtailing congressional intent in its policing of captive insurance arrangements, says Peter Dawson at the 831(b) Institute.
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Kentucky Tax Talk: Appeals Court Revisits Leases' Tax Effects
With better facts and greater emphasis on the Kentucky Constitution, Walgreen Co. may succeed in its latest Kentucky Court of Appeals challenge to a tax assessor's method of valuing leaseholds on real property for purposes of determining ad valorem tax, say Mark Sommer and Elizabeth Ethington at Frost Brown Todd.
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Series
Being A Luthier Makes Me A Better Lawyer
When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.
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Lead Like 'Ted Lasso' By Embracing Cognitive Diversity
The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.
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Class Actions At The Circuit Courts: July Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers cases touching on pre- and post-conviction detainment conditions, communications with class representatives, when the American Pipe tolling doctrine stops applying to modified classes, and more.
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Opinion
Now More Than Ever, Lawyers Must Exhibit Professionalism
As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.
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Series
Serving In The National Guard Makes Me A Better Lawyer
My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.
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Reading Between The Lines Of Justices' Moore Ruling
The U.S. Supreme Court's recent Moore v. U.S. decision, that the Internal Revenue Code Section 965 did not violate the 16th Amendment, was narrowly tailored to minimally disrupt existing tax regimes, but the justices' various opinions leave the door open to future tax challenges and provide clues for what the battles may look like, say Caroline Ngo and Le Chen at McDermott.
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A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates
Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.
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Opinion
States Should Loosen Law Firm Ownership Restrictions
Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.
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Series
Solving Puzzles Makes Me A Better Lawyer
Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.