Tax

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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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."
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.
July 29, 2024
ECJ Nixes Swedish Dividends Tax On Foreign Pension Funds

Sweden can't collect a withholding tax on dividends distributed by Swedish companies to public pension funds abroad while exempting its own public funds because that is inconsistent with European Union law requiring the free movement of capital, the European Court of Justice said Monday.
July 29, 2024
Clean Energy Tax Credit Sales Could Hit $25B, Report Says

Total sales of clean energy tax credits could reach as high as $20 billion to $25 billion this year, signaling a flourishing marketplace for credit sales authorized by the 2022 climate law, according to a midyear report released Monday by a climate tech startup firm.
July 29, 2024
DC Taxes Due From Property Transfer Prior To Sale

A business that sold a commercial property in Washington, D.C., was properly assessed back taxes for a 2007 merger with a subsidiary, the District of Columbia Court of Appeals ruled.
July 29, 2024
'Survivor' Winner Says He's Vulnerable In $3M Tax Battle

The winner of the first "Survivor" television season told a Rhode Island federal court Monday that the government was unfairly painting him as flouting nearly $3.3 million in federal tax liabilities stemming from his $1 million cash prize, saying he was "ill-equipped to battle prosecutors."
July 29, 2024
EU's Highest Court Upholds Disclosure Law

The European Union's highest court on Monday upheld the bloc's law requiring tax advisers to report potentially aggressive cross-border tax arrangements, rejecting a challenge from Belgian tax attorneys who said their country's implementation of the EU's DAC6 law violated European law.
July 26, 2024
Off The Bench: NBA Signs Mega Deals, Jerry Jones Settles

In this week's Off The Bench, the NBA signed $77 billion worth of telecast and streaming deals while longtime league broadcaster TNT challenged the decision, Jerry Jones' suit against his alleged daughter settled while jurors were at lunch, and Pennsylvania's high court agreed to hear an appeal relating to Pittsburgh's jock tax, a fee applied to nonresident professional athletes.
July 26, 2024
G20 Declines To Back Brazil's Plan For A Minimum Wealth Tax

Finance ministers from the Group of 20 nations declined to back Brazil's proposal for an agreement on individual wealth taxation similar to the global corporate minimum tax, instead issuing a statement Friday that opted for softer language about cooperation.
July 26, 2024
Biz Groups Call Corp. Transparency Act Unconstitutional

The U.S. government has failed to show how the Corporate Transparency Act meets narrow exceptions to the Fourth Amendment's search warrant requirements, a group of small businesses told a Michigan federal court Friday in contending that the statute is unconstitutional.
July 26, 2024
Ind. Tax Court Says Tax Cap Acre Limitation Unconstitutional

The Indiana Constitution doesn't permit a fixed 1-acre limitation on land eligible for the state's 1% property tax cap, the state tax court said, siding with a couple who argued their entire property qualified for the cap.
July 26, 2024
Two Admit Trying To Bribe IRS Official On China's Behalf

Two people admitted to secretly acting on behalf of the Chinese government and bribing an undercover agent in connection with a scheme to revoke the tax-exempt status of U.S. participants in a spiritual practice banned in China, according to New York federal court filings.
July 26, 2024
Uber Accused Of Illegally Charging Tax On Delivery Fees

Uber illegally collects sales tax on food delivery fees in Florida, a customer claimed in a proposed class action removed to federal court, saying the company cannot charge the tax if customers have the option of picking up the order themselves.

Expert Analysis

Charting The Course For Digital Assets In 2024

Although 2023 was a tough year for the digital asset industry, upcoming court decisions, legislation and regulatory action will bring clarity, allowing the industry to expand and evolve, and the government will decide what innovation it will allow without challenge, says Joshua Smeltzer at Gray Reed.
Law Firm Strategies For Successfully Navigating 2024 Trends

Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.
The Most-Read Legal Industry Law360 Guest Articles Of 2023

A range of legal industry topics drew readers' attention in Law360's Expert Analysis section this year, from associate retention strategies to ethical billing practices.
Attorneys' Busiest Times Can Be Business Opportunities

Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.
In The World Of Legal Ethics, 10 Trends To Note From 2023

Lucian Pera at Adams and Reese and Trisha Rich at Holland & Knight identify the top legal ethics trends from 2023 — including issues related to hot documents, artificial intelligence and cybersecurity — that lawyers should be aware of to put their best foot forward.
How Attorneys Can Be More Efficient This Holiday Season

Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.
Series

Children's Book Writing Makes Me A Better Lawyer

Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.
5 Traps To Avoid When Selling CRE In Las Vegas Area

When dealing with commercial real estate in Clark County, Nevada — which includes the Las Vegas metro area — even sophisticated sellers may be ensnared by a myriad of tricky issues, ranging from transfer tax nuances to arbitration laws, says Chris Walther at Fennemore Craig.
'Brownfields' Definition Key To Energy Community Tax Credits

As the IRS rolls out guidance for claiming community energy tax credits under the Inflation Reduction Act, a review of the long-standing statutory definition of "brownfields" reveals that it continues to serve the goal of creating opportunities for investment in abandoned properties, says Louise Dyble at Sheppard Mullin.
Opinion

Giving The Gov't Drug Patent March-In Authority Is Bad Policy

The Biden administration's recent proposal to allow government seizure of certain taxpayer-funded drug patents is a terrible idea that would negate the benefits of government-funded research, to the detriment of patients and the wider economy, says Wayne Winegarden at Pacific Research Institute.
How Clients May Use AI To Monitor Attorneys

Excerpt from Practical Guidance

Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.
Series

The Pop Culture Docket: Judge D'Emic On Moby Grape

The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.
Series

Performing Music Makes Me A Better Lawyer

The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.
How 'As Such' Changes LPs' Self-Employment Tax Exposure

In light of the U.S. Tax Court’s recent Soroban Capital Partners decision hinging on "as such" to define the statutory limited partners exemption, state law limited partnerships should consider partners' roles and responsibilities before determining whether they are obligated to pay self-employment income tax, say attorneys at Morgan Lewis.
Breaking Down High Court's New Code Of Conduct

The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.