Tax

  • January 14, 2025

    Easement Worth $1M, Not $18M, Gov't Tells 11th Circ.

    The U.S. Tax Court was right to believe expert testimony that a claimed conservation easement donation of roughly $18 million was only worth $1 million, the government told the Eleventh Circuit, urging it to reject the donors' claims that the expert was unreliable.

  • January 14, 2025

    Justices Suggest 7th Circ. Revisit False Statement Decision

    Several U.S. Supreme Court justices seemed ready Tuesday to ask the Seventh Circuit to review a former Chicago alderman's conviction for lying about money he borrowed from a now-shuttered bank under a narrower standard, but the justices appeared skeptical that he would beat the case even with a fresh look.

  • January 14, 2025

    Trump Announces Plans To Create 'External Revenue Service'

    President-elect Donald Trump said Tuesday that he planned to create an "External Revenue Service" that would collect tariffs and revenue from foreign countries.

  • January 14, 2025

    Feds Ask 2 Years For Ex-Pol On Tax, Pandemic Aid Charges

    A former Massachusetts state senator should spend two years in prison after being convicted of illegally obtaining unemployment assistance and filing a false tax return, the federal government argued, citing the "greed" at the heart of the politician's conduct.

  • January 14, 2025

    DOL Finalizes ERISA Voluntary Correction Program Changes

    The U.S. Department of Labor's employee benefits arm has finalized changes to a program allowing retirement plan managers to voluntarily self-correct when they fail to forward employee contributions on time or make other transaction errors, according to a notice the agency posted online Tuesday.

  • January 13, 2025

    Special Counsel Slams Biden's Critique Of Son's Prosecution

    The special counsel who oversaw the investigation into Hunter Biden, which was wiped out by a presidential pardon, released a report published Monday criticizing President Joe Biden's "baseless accusations" that his son was "selectively" prosecuted and warning that such comments threaten "the integrity of the justice system as a whole."

  • January 13, 2025

    On Cross, Madigan Says He Merely Helped Job-Seekers

    Former Illinois House Speaker Michael Madigan distanced himself Monday from political allies who prosecutors say bribed him for jobs and other benefits, saying his recommendations were just that, and that he thought he was effective in shutting down a former alderman's quid pro quo suggestion.

  • January 13, 2025

    Feds Say Par Funding Fraud Caused $404M In Losses

    Prosecutors and defense attorneys spent hours in a marathon hearing Monday trying to convince a Pennsylvania judge of how much financial damage they thought the principals of the Par Funding merchant lending business did by allegedly fleecing investors, with the government pushing for a $404 million figure.

  • January 13, 2025

    Ex-Cook County Assessor Officer Hit With Bribery Charges

    A chief hearings officer for former Cook County Assessor Joseph Berrios' office accepted bribes, including from a law firm's tax consultant, when handling a property assessment appeal, a new lawsuit in Illinois federal court alleges.

  • January 13, 2025

    AGs, Lobbyists Ask Justices To Keep Shell Co. Law Blocked

    The U.S. Supreme Court should deny the federal government's emergency application to stay a Texas district court's injunction on a law aimed at cracking down on crimes committed with shell companies, according to numerous state attorneys general and interest groups and a handful of small businesses.

  • January 13, 2025

    Tax Firm Asks Court To Ax Final IRS Microcaptive Rules

    A global tax services provider asked a Texas federal court to vacate finalized tax rules requiring the reporting of certain transactions involving captive insurance companies deemed as potentially abusive, arguing the guidance goes beyond the agency's authority.

  • January 13, 2025

    Sen. Warren To Grill Treasury Pick On Trump's Tax Agenda

    Sen. Elizabeth Warren, D-Mass., plans to ask Treasury secretary nominee Scott Bessent at his confirmation hearing in front of the Senate Finance Committee on Thursday about President-elect Donald Trump's tax agenda and plans for the Internal Revenue Service, according to a letter she sent the nominee.

  • January 13, 2025

    Ore. Tax Court Says No Depreciation On Residences

    The owners of a pair of Oregon residences were denied depreciation deductions against their state income taxes because they did not demonstrate that the homes were income-producing properties, the state tax court said.

  • January 13, 2025

    Ore. Court OKs Farm Tax Break For Landfill, Corn Maze

    Portions of property in a farming operation used for a corn maze and for a landfill that was part of a remediation effort are eligible for a special agricultural property tax assessment, the Oregon Tax Court ruled.

  • January 13, 2025

    Ind. Bill Would Restrict Property Tax Referendum Placement

    Indiana would limit when school corporations may place referendums authorizing certain property tax levies on a ballot to general elections, under a bill introduced Monday in the state House of Representatives.

  • January 13, 2025

    IRS Eases Process Of Insurance Co. Alternate Tax Revocation

    The Internal Revenue Service laid out a streamlined process Monday by which certain insurance companies that took an elective application of an alternative tax may obtain automatic consent to revoke that election.

  • January 13, 2025

    Ind. Senate Bill Seeks To Cap Local Property Tax Hikes

    Indiana would not allow a political subdivision to increase its property tax levy if there is not an increase in the subdivision's assessed value under a bill introduced Monday in the state Senate.

  • January 13, 2025

    Tax-Exempt Regs Should Cover Trust Payments, Tribes Say

    Five tribal leaders told the U.S. Treasury Department on Monday that trust payments distributed to members, including those issued to minors and special-needs individuals, should be included among the tribal welfare benefits that recent proposed rules would exempt from federal income taxes.

  • January 13, 2025

    Ky. House Bill Seeks Referendum Toward Axing Property Tax

    Kentucky would put forward a referendum asking voters to give lawmakers the power to eliminate the state's property tax by exempting all property classes from tax under a bill introduced in the state House of Representatives.

  • January 13, 2025

    Tax-Lien Biz Atty Accused Of Duping Bank Can't Touch Money

    A Manhattan federal judge declined Monday to unfreeze assets on behalf of a former compliance lawyer accused of duping a bank into lending his tax-lien investment firm $20 million, complicating his plan to go to trial with private counsel.

  • January 13, 2025

    Justices Won't Review Reversal Of Firm's Tax Penalty Win

    The U.S. Supreme Court let stand Monday a Fifth Circuit decision overturning a jury ruling that a wealth management company didn't owe $579,000 in tax penalties because an employee's mental health problems excused the company's failure to file information returns on time.

  • January 13, 2025

    Tax Hikes Hit Business Confidence, UK Industry Chair Says

    The Labour government's decision to raise payroll taxes on employers in last year's budget has hurt business confidence, the chair of an influential British industry group said Monday.

  • January 12, 2025

    Justices To Review Whether Ex-Wife Can Challenge Tax Levy

    The U.S. Supreme Court will review a Third Circuit decision allowing a woman to continue challenging what she claims was an improper application of her tax payment to her ex-husband's bill even after the Internal Revenue Service stopped pursuing a proposed property seizure against her.

  • January 10, 2025

    Up Next At High Court: Porn ID Check & Retiree Discrimination

    The U.S. Supreme Court will return to the bench Monday for a full argument session, in which the justices will debate whether a Texas law requiring pornography websites to verify their visitors aren't minors violates the First Amendment and if retirees have the right to sue former employers for benefits discrimination. 

  • January 10, 2025

    NJ Justices Say Private Lienholders Can Be State Actors

    The Garden State's highest court has ruled that a previous version of the New Jersey Tax Sale Law is unconstitutional, pointing to U.S. Supreme Court precedent in concluding that private lienholders are not entitled to surplus equity in property that exceeds the debt owed.

Expert Analysis

  • Opinion

    The Big Issues A BigLaw Associates' Union Could Address

    Author Photo

    A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.

  • Opinion

    It's Time For A BigLaw Associates' Union

    Author Photo

    As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.

  • Why DOJ's Whistleblower Program May Have Limited Impact

    Author Photo

    The U.S. Department of Justice’s new whistleblower pilot program aims to incentivize individuals to report corporate misconduct, but the program's effectiveness may be undercut by its differences from other federal agencies’ whistleblower programs and its interplay with other DOJ policies, say attorneys at Milbank.

  • How Justices Upended The Administrative Procedure Act

    Author Photo

    In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.

  • Trump's Best Hush Money Appeal Options Still Likely To Fail

    Author Photo

    The two strongest potential arguments former President Donald Trump could raise in appealing his New York hush money conviction seem promising at first, but precedent strongly suggests they will still ultimately fail — though, of course, Trump's unique position could lead to surprising results, says former New York Supreme Court Justice Ethan Greenberg, now at Anderson Kill.

  • Tips For Tax Equity-Tax Credit Transfers That Pass IRS Muster

    Author Photo

    Although the Internal Revenue Service has increased its scrutiny of complex partnership structures, which must demonstrate their economic substance and business purpose, recent cases and IRS guidance together provide a reliable road map for creating legitimate tax equity structures, say Ian Boccaccio and Michael Messina at Ryan Tax.

  • Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?

    Author Photo

    A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.

  • Series

    Playing Dungeons & Dragons Makes Me A Better Lawyer

    Author Photo

    Playing Dungeons & Dragons – a tabletop role-playing game – helped pave the way for my legal career by providing me with foundational skills such as persuasion and team building, says Derrick Carman at Robins Kaplan.

  • 3 Leadership Practices For A More Supportive Firm Culture

    Author Photo

    Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.

  • E-Discovery Quarterly: Rulings On Hyperlinked Documents

    Author Photo

    Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.

  • Loper Bright Limits Federal Agencies' Ability To Alter Course

    Author Photo

    The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.

  • Series

    Teaching Scuba Diving Makes Me A Better Lawyer

    Author Photo

    As a master scuba instructor, I’ve learned how to prepare for the unexpected, overcome fears and practice patience, and each of these skills – among the many others I’ve developed – has profoundly enhanced my work as a lawyer, says Ron Raether at Troutman Pepper.

  • A Guide To Long-Term, Part-Time Employee Determinations

    Author Photo

    With final regulations under the Secure Act requiring 401(k) retirement benefits for long-term, part-time employees expected soon, Amy Sheridan and David Guadagnoli at Sullivan & Worcester look at how the proposed rules would shift the risk-reward calculus on excluding categories of employees, and what plan sponsors would need to consider when designing retirement plans.

  • Series

    After Chevron: Delegation Of Authority And Tax Regulators

    Author Photo

    The U.S. Department of the Treasury and the Internal Revenue Service will face higher standards following Loper Bright’s finding that courts should determine whether agency rules meet the best possible interpretation of the tax code, as well as the scope of the authority delegated by Congress, says Edward Froelich at McDermott.

  • Lawyers Can Take Action To Honor The Voting Rights Act

    Author Photo

    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Tax archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!