Tax

  • February 05, 2025

    US Trade Deficit Up To $918B In 2024, Gov't Says

    The U.S. trade deficit in goods and services spiked 24% month over month in December to $98.4 billion, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis said Wednesday, leading to the U.S. closing the year with a $918.4 billion deficit.

  • February 05, 2025

    EU Sets Out Actions For E-Commerce Import Rules

    The European Commission said Wednesday it is raising customs controls on low-value imports flowing into the European Union via online retailers and marketplaces hosting non-European traders.

  • February 04, 2025

    Mich. Supreme Court Says City's Electricity Fee Is Illegal Tax

    A franchise fee added to East Lansing, Michigan, residents' energy bills is a disguised tax, the Michigan Supreme Court ruled Monday, saying the fee was used to raise revenue for the city without first being approved by voters.

  • February 04, 2025

    External Revenue Service Could Help Solve Unpaid Duty Issue

    President Donald Trump's call for a new agency designed to collect trade revenue, billed as the External Revenue Service, may be more than a flashy concept and could tackle lingering inefficiencies associated with duty collection, experts say.

  • February 04, 2025

    Akerman Adds Ex-DOJ Tax Atty From Chamberlain Hrdlicka

    Akerman LLP has brought on a former Internal Revenue Service and U.S. Department of Justice trial attorney from Chamberlain Hrdlicka White Williams & Aughtry PC as a tax partner in Atlanta.

  • February 04, 2025

    Kostelanetz Adds Tax Pro From Lowenstein Sandler

    Kostelanetz LLP said a former partner at Lowenstein Sandler LLP has joined the firm as a partner in the Washington, D.C., office.

  • February 04, 2025

    Wash. Gov. Orders Look At Data Centers' Tax Revenue Impact

    Washington's governor issued an executive order directing the state's Department of Revenue to create a work group to examine the impact of data centers on the state's tax revenue and economy and recommend policies to address tax revenue needs in relation to other priorities.

  • February 04, 2025

    Walmart Gets Arbitration In Fla. Delivery Fee Tax Fight

    An accusation that Walmart unlawfully charged Florida customers sales tax on delivery fees will go to arbitration, a federal judge ruled Tuesday, saying shoppers agreed to arbitration when they accepted the terms of use of the retailer's website.

  • February 04, 2025

    Mellon Heir's Estate Defends $29M Tax Refund Request

    A Pittsburgh billionaire made a "bona fide" deal to indemnify the trustees for his Mellon family millions as he drained a family trust account, so a $200 million settlement to partly replenish the fund for his heirs should be deductible and produce a $29 million refund of his Pennsylvania estate taxes, the estate's lawyer told a state appellate court Tuesday.

  • February 04, 2025

    US Drops Out Early From UN Global Tax Convention Talks

    The U.S. government will no longer participate in United Nations negotiations aimed at drafting a framework convention on international tax cooperation, intends to reject the outcome and welcomes other countries to join in its opposition, a U.S. diplomat said.

  • February 04, 2025

    Pa. Governor Puts Cannabis Legalization In Budget Proposal

    Pennsylvania Gov. Josh Shapiro on Tuesday announced a plan to legalize recreational cannabis later this year as part of his budget proposal.

  • February 04, 2025

    3rd Circ. Urged To Nix Tax On $191M In Family Pharma Feud

    A pharmaceutical company's $191 million payment settling a family feud over shares of the business did not include imputed interest triggering higher taxes as the U.S. government claims, a trust for family members who received the money told the Third Circuit.

  • February 04, 2025

    Calif. Insurer Can't Get Tax Refund On In-State Shipments

    A California insurance company can't get a refund of sales taxes paid when it placed orders with three vendors located out of state that the vendors fulfilled with shipments from within the state, the California Office of Tax Appeals ruled.

  • February 03, 2025

    Trump Orders Plan For Creating US Sovereign Wealth Fund

    President Donald Trump on Monday signed an executive order calling on the U.S. Department of the Treasury and U.S. Department of Commerce to come up with a plan to create a U.S. sovereign wealth fund and said the social media app TikTok could potentially be put in the proposed fund.

  • February 03, 2025

    Schumer Warns Of 'Hostile Takeover' From DOGE

    Top Senate Democrats on Monday railed against access granted to Elon Musk's Department of Government Efficiency that allowed the outfit's employees to tap into the U.S. Department of Treasury's federal payment system over the weekend.

  • February 03, 2025

    Ill. Bill Seeks Tax Break For Megaproject Building Materials

    Illinois would provide an exemption from any state or local use tax or retailers occupation tax for building materials incorporated into real estate at what are known as megaproject sites as part of a bill filed in the state House of Representatives.

  • February 03, 2025

    Ill. House Floats Income Tax Deduction Bill For Union Dues

    Illinois would create an income tax deduction for union dues for taxpayers who weren't allowed a deduction under federal law as part of a bill filed in the state House of Representatives.

  • February 03, 2025

    Canada Gets Trump Tariffs Paused After Retaliation Threats

    Canada and the U.S. have agreed to pause planned tariffs for at least 30 days while the two countries try to work out an agreement, Canadian Prime Minister Justin Trudeau and U.S. President Donald Trump said late Monday afternoon, an announcement that came after Canada floated retaliatory tariffs earlier in the day and said it would rip up a contract with Elon Musk's Starlink.

  • February 03, 2025

    IRS Defends Process For Denying Worker Credit Claims

    The Internal Revenue Service defended its process for rejecting applications for pandemic-era worker tax credits that it deems too risky to pay out, telling an Arizona federal court that contrary to the claims of two companies suing the agency over denials, its response has been reasonable.

  • 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.

  • 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."

  • 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.

  • 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.

  • 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.

  • 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.

Expert Analysis

  • Series

    Group Running Makes Me A Better Lawyer

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    The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.

  • Opinion

    6 Changes I Would Make If I Ran A Law School

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    Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.

  • The Current State Of Play Around Corporate Transparency Act

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    Although a Texas court preliminarily enjoined enforcement of the Corporate Transparency Act and paused an impending Dec. 31 reporting deadline, multiple states have similar requirements, so companies should continue to monitor compliance obligations regardless of the CTA's constitutionality, say attorneys at Simpson Thacher.

  • Firms Still Have The Edge In Lateral Hiring, But Buyer Beware

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    Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.

  • Opinion

    Congress Should Expand Investment Options For 403(b)s

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    Lawmakers should pass pending legislation to give 403(b) plan participants access to collective investment trusts, leveling the playing field for public sector retirement investors by giving them an investment option their private sector counterparts have had for decades, says Jason Levy at Great Gray Trust Company.

  • Think Like A Lawyer: 1 Type Of Case Complexity Stands Out

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    In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a “sliding scale” approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.

  • Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity

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    Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.

  • Series

    Gardening Makes Me A Better Lawyer

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    Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.

  • Litigation Inspiration: Reframing Document Review

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    For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.

  • Rank-And-File DOJ Attorneys Will Keep Calm And Carry On

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    Career prosecutors at the U.S. Department of Justice often pride themselves on their ability to remain apolitical in order to ensure consistency and keep the department’s mission afloat, and the incoming Trump administration is unlikely to upend this tradition, says Michael Landman at Bird Marella.

  • California Supreme Court's Year In Review

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    Attorneys at Horvitz & Levy highlight notable decisions on major questions from the California Supreme Court's last term, including voter initiatives, hostile work environment and the economic loss rule.

  • Series

    Flying Makes Me A Better Lawyer

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    Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.

  • What Higher Education Can Expect From A 2nd Trump Admin

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    The election of Donald Trump for a second presidential term has far-reaching ramifications for colleges and universities — come January, institutions can expect a crackdown on DEI, increased scrutiny of campus protests, a rollback of the Biden administration's Title IX rules and more, say attorneys at Jenner & Block.

  • Series

    Circus Arts Make Me A Better Lawyer

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    Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.

  • 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.

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