Tax

  • May 08, 2024

    Fla. Man Owes $2.3M Tax For Late Mother's Estate, US Says

    A Florida man spent millions of dollars on mortgage payments on his and his family members' properties using funds from his late mother's estate instead of paying the more than $2.3 million in taxes that the estate owed, the government said in its bid for an early win.

  • May 08, 2024

    NY AG Says $6M NRA Verdict Should Stand

    A New York state court should not undo a jury's finding that the National Rifle Association allowed its officers to misappropriate $6.4 million of donor money, the state's attorney general has argued, saying trial evidence abundantly laid out evidence of misconduct and organizational failures.

  • May 08, 2024

    Credit Suisse Urges Mich. Panel To Reverse Biz Loss Denial

    A Credit Suisse attorney pressed the Michigan Court of Appeals on Wednesday to clarify how the state's tax laws account for losses from real estate mortgage investment conduits, saying a lower court incorrectly denied its attempt to carry forward $21.3 million in losses.

  • May 08, 2024

    Calif. Justices Weigh Striking Anti-Tax Ballot Initiative

    California Supreme Court justices sought to understand Wednesday if a measure approved for the November ballot that would make it harder to raise taxes would eliminate lawmakers' ability to tax and would illegally revise — rather than amend — the state constitution.

  • May 08, 2024

    In Final Memo, Blumenauer Eyes Path Forward For Cannabis

    Rep. Earl Blumenauer, D-Ore., a longtime champion of cannabis reform in Congress who plans to retire this year, is calling marijuana reform a "winning issue" for policymakers and outlined numerous actions both legislators and federal agencies can take to move the issue forward.

  • May 08, 2024

    4th Circ. Asks If High Court Ruling Bars Credit Suisse Tipster

    A Fourth Circuit panel questioned Wednesday whether a U.S. Supreme Court ruling prevented it from reviving a whistleblower case by a former Credit Suisse employee alleging the bank helped U.S. citizens evade taxes after paying a $2.6 billion criminal penalty.

  • May 08, 2024

    Auto Cos. Brace For EV Battery Compliance Hurdles

    New federal regulations aimed at shoring up the domestic electric vehicle manufacturing supply chain give automakers a much-needed two-year cushion to navigate a compliance minefield, and to figure out how to reinvigorate the recent waning consumer demand for electric vehicles.

  • May 08, 2024

    Ind. Youth Center Rightly Denied Tax Exemption, Board Says

    An Indiana youth center was correctly denied a religious tax exemption because the property is used to the benefit of the adopted children of the organization's founder, the state Board of Tax Review said in a decision published Wednesday.

  • May 08, 2024

    EGC Won't Annul EU Decision To Toss Spanish Tax Scheme

    The European General Court will not annul a European Commission decision that a Spanish tax scheme for vessels built in its domestic shipyards must be abandoned because it was incompatible with the European Union's internal market, according to a judgment released Wednesday.

  • May 08, 2024

    In Story Of Sex And Lies, Can Cohen Write Final Chapter?

    The Manhattan District Attorney's Office has told a story of scandal and scheming to the jury in Donald Trump's criminal hush money trial, setting the stage for the prosecution's star witness to take the stand and wrap up the narrative.

  • May 08, 2024

    Disbarred Mich. Atty Jailed For Stealing $140K From Client

    A Michigan attorney will spend more time in prison than planned after failing to keep up his side of a plea agreement he made with the state attorney general when he admitted to stealing more than $140,000 from an elderly client.

  • May 08, 2024

    Gibson Dunn Adds Ex-Wachtell, Paul Weiss Attys As Partners

    Gibson Dunn & Crutcher LLP has added a former Wachtell Lipton Rosen & Katz corporate attorney and a former Paul Weiss Rifkind Wharton & Garrison LLP lawyer who specializes in liability management as partners in New York, the firm has announced.

  • May 08, 2024

    A Foley Hoag Co-Chair Joins Litigation Firm As Name Partner

    Litigation and dispute resolution firm Elliott Kwok Levine & Jaroslaw LLP will operate under a new name after welcoming as its newest name partner a former federal prosecutor who most recently co-chaired Foley Hoag LLP's white-collar crime and government investigations practice.

  • May 08, 2024

    DOD Trucking Contractor Owner Indicted On $1M Tax Evasion

    The owner of a trucking company that hauled military supplies for the U.S. Department of Defense tried to evade more than $1 million in taxes partly by using a nominee company headed by her former dispatcher, according to an indictment by a federal grand jury in Ohio.

  • May 08, 2024

    Colo. Lawmakers OK Historic Structure Tax Credit Extension

    Colorado's tax credit for rehabilitation of historic structures would be extended and apply to structures as young as 30 years old under legislation approved by the Senate and headed to the governor.

  • May 07, 2024

    LA Cannabis Co. Owes $216K In Taxes, City Says

    Los Angeles has slapped a Venice cannabis shop with a lawsuit accusing it of shirking a more than $200,000 tax obligation, asking a state court for to force the dispensary to pay up.

  • May 07, 2024

    Tax Software Co. Still Can't Trim Rival's Trade Secrets Suit

    A corporate-focused tax preparation software company still can't pare back a suit alleging that it poached workers from its rival's recently acquired company, a Pennsylvania federal judge ruled Tuesday.

  • May 07, 2024

    6th Circ. Considers Rebooting Crypto Reporting Challenge

    Sixth Circuit judges seemed unsure of whether a group of cryptocurrency users can challenge a pending mandate to report large crypto transactions, as the judges grappled Tuesday with whether the plaintiffs have shown they are harmed by the forthcoming rule and whether the challenge is premature.   

  • May 07, 2024

    Industry Groups Suggest Changes To Aussie Reporting Rules

    A coalition of global fund industry associations asked Australia to further amend its proposal for public country-by-country tax data reporting by including, among other measures, a provision that would allow companies to withhold sensitive information, according to a letter released Tuesday by the U.S. Treasury Department.

  • May 07, 2024

    Colo. House OKs Conservation Easement Tax Break Extension

    Colorado would extend its conservation easement tax credit through 2031 and raise its statewide annual cap on available credits under legislation approved Tuesday by the state House of Representatives.

  • May 07, 2024

    India High Court Says Biz's Tax Refunds Can't Be Held Back

    Indian tax authorities must refund value-added taxes of 225 million rupees ($2.7 million) to a business instead of withholding them to offset future tax liabilities, the country's top court ruled.

  • May 07, 2024

    Employment Agency Owner Admits Hiding $10M In Income

    The owner of a temporary employment agency pled guilty to filing false federal business tax returns to conceal more than $10 million in corporate income, the U.S. Department of Justice announced Tuesday.

  • May 07, 2024

    NC Firm Beats Appeal In Fee Fight With Fla. Client

    A North Carolina state appeals court on Tuesday affirmed a lower court's denial of a motion to dismiss a breach-of-contract lawsuit filed by Raleigh-based law firm Wilson Ratledge PLLC, agreeing the fee dispute with two Florida-based companies falls under the state court's jurisdiction.

  • May 07, 2024

    Colo. Senate Approves Property Tax Cuts

    Colorado would extend temporary property tax rate reductions into 2024 and set lower rates for future years under bipartisan legislation passed Tuesday by the state Senate that is forecast to save property owners nearly $1 billion in its first year if enacted.

  • May 07, 2024

    Stormy Daniels Tells NY Jury 'Fear' Drove Hush Money Deal

    Adult film star Stormy Daniels detailed for a Manhattan jury on Tuesday how a sexual encounter with Donald Trump in 2006 led to an alleged $130,000 hush money payment in 2016, describing how it was "fear and not money" that led her to make the deal.

Expert Analysis

  • Series

    Writing Thriller Novels Makes Me A Better Lawyer

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    Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

  • Unpacking Long-Awaited Clean Energy Tax Credit Guidance

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    Recently proposed Internal Revenue Service regulations provide welcome confirmatory guidance on the application of investment tax credits as reworked by 2022's Inflation Reduction Act, prevailing wage and apprenticeship rules that are largely consistent with market expectations, and broader eligibility criteria that should please the wind power industry in particular, say attorneys at Morgan Lewis.

  • What Lawyers Must Know About Calif. State Bar's AI Guidance

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    Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.

  • Industry Must Elevate Native American Women Attys' Stories

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    The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.

  • A Year-End Look At Florida's Capital Investment Tax Credit

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    Notwithstanding the Walt Disney Co.’s feud with Gov. Ron DeSantis this year, Florida's capital investment tax credit will continue to make the state a favored destination for large corporations, particularly in light of the new federal alternative minimum tax and the Pillar Two top-up tax, says Alan Lederman at Gunster.

  • Understanding Discovery Obligations In Era Of Generative AI

    Excerpt from Practical Guidance
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    Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.

  • The Case For Post-Bar Clerk Training Programs At Law Firms

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    In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.

  • IRS Proposal May Help Clarify Donor-Advised Fund Excise Tax

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    Recently proposed regulations provide important clarifications of the Internal Revenue Code's excise tax on donor-advised fund distributions by providing detailed definitions of key terms and addressing some of the open issues related to their operation and administration, say attorneys at Morgan Lewis.

  • Ohio Voters Legalize Cannabis — What Comes Next?

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    This month, voters approved a citizen-initiated statute that legalizes marijuana for recreational use in Ohio, but the legalization timeline could undergo significant changes at the behest of the state's lawmakers, say Daniel Shortt and David Waxman at McGlinchey Stafford.

  • Opinion

    A Telecom Attorney's Defense Of The Chevron Doctrine

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    The Chevron doctrine, which requires judicial deference to federal regulators, is under attack in two U.S. Supreme Court cases — and while most telecom attorneys likely agree that the Federal Communications Commission is guilty of overrelying on it, the problem is not the doctrine itself, says Carl Northrop at Telecommunications Law Professionals.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

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    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Mo. Solar Projects Need Clarity On Enterprise Zone Tax Relief

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    In Missouri, enhanced enterprise zones offer tax abatements that could offset the cost of solar project infrastructure, but developers must be willing to navigate uncertainty about whether the project is classified as real property, say Lizzy McEntire and Anna Kimbrell at Husch Blackwell.

  • AI Can Help Lawyers Overcome The Programming Barrier

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    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • What To Expect After Colo. Nixes Special Standing Rules

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    Two recent Colorado Supreme Court decisions have abandoned a test to preclude standing in lawsuits challenging government decisions brought by subordinate government entities, which will likely lead to an admixture of results, including opening the door to additional legal challenges between government entities, says John Crisham at Crisham & Holman.

  • Preparing Law Students For A New, AI-Assisted Legal World

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    As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.

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