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Tax
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June 12, 2024
St. Louis Atty Urges Acquittal After Tax Avoidance Conviction
A Missouri attorney who was found guilty of participating in a $4 million tax avoidance scheme alongside her father and a North Carolina insurance agent is looking to wipe out the verdict, arguing there wasn't enough evidence to convict.
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June 12, 2024
Ore. Tax Court Affirms No Retroactive Fix To Home Value
The tax valuation of an Oregon residence erroneously assessed at a larger square footage cannot be retroactively reduced, the Oregon Tax Court said, upholding the state tax department's rejection of the request.
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June 12, 2024
First 'Survivor' Winner Wants $3M Tax Case Tossed
The winner of the first season of the TV series "Survivor" asked a Rhode Island federal court to toss the government's case against him seeking nearly $3.3 million in unpaid taxes, saying the liabilities stem from his flawed criminal conviction for tax evasion nearly 20 years ago.
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June 12, 2024
Biden Names Prosecutors, Judge For 3 District Courts
President Joe Biden announced nominees Wednesday for district courts in Minnesota, California and Pennsylvania.
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June 11, 2024
SVB Wants A Trial Over Its $605M Tax Bill From IRS
The parent company of failed Silicon Valley Bank has told a New York bankruptcy judge it wants him to decide if it owes the Internal Revenue Service more than $605 million in taxes.
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June 11, 2024
No Tax Owed On Mailed Ads, Insurer Tells Mich. Appeals Court
Advertisements mailed for a Michigan insurance provider by an out-of-state direct-mail contractor should not incur the state's use tax, the insurer told a state appeals court Tuesday.
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June 11, 2024
Compliance Costs Outweigh Min. Tax Gains, Biz Reps Say
Multinational businesses are concerned that the burden of complying with the 15% global minimum tax outweighs any potential revenue gains associated with the burgeoning system, tax attorneys and a trade association representative said during a panel Tuesday.
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June 11, 2024
Lawmakers Urge Biden To Back Brazil's Int'l Wealth Tax Plan
Sen. Bernie Sanders and Democratic lawmakers asked the Biden administration Tuesday to support the global minimum tax on billionaires being proposed by Brazil, which is encouraging the Group of 20 nations to endorse the initiative at its meetings next month.
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June 11, 2024
Feds Want 10 Years For Ex-Chicago Alderman Burke
Federal prosecutors asked an Illinois federal judge Monday to send former Chicago Alderman Ed Burke to prison for 10 years for "brazenly and boldly" using his official position to steer tax business to his law firm, while Burke requested a sentence of probation, bolstered by letters of support from prominent attorneys and retired judges.
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June 11, 2024
Charity Founder Charged With Embezzling $2.5M, Evading Tax
The founder of a New York City charity embezzled $2.5 million in donations meant for low-income families and then failed to report the earnings to the Internal Revenue Service or pay tax on them, according to a criminal complaint unsealed Tuesday in New York federal court.
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June 11, 2024
Atty, Broker Look To Dismantle Guilty Verdicts In Tax Case
A St. Louis attorney convicted alongside his daughter and a North Carolina insurance agent asked Tuesday to be acquitted for their roles in a $4 million tax fraud scheme, arguing in part that the supposedly false statements they made on tax returns were actually true.
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June 11, 2024
Vt. Short-Term Rental Tax Proposal Vetoed
A Vermont bill that would have imposed a 3% surcharge on short-term rentals was vetoed by the governor.
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June 11, 2024
Democratic Republic Of Congo Joins African Tax Coalition
The Democratic Republic of the Congo has officially joined the African Tax Administration Forum as its 44th member, the group announced.
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June 11, 2024
French Tax Law Challenged On Free Movement Grounds
The European Court of Justice is examining a French law regarding undeclared assets held outside the country to determine whether it is in line with the European Union's law respecting free movement of capital, the EU's official journal said.
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June 10, 2024
NYC Probation Officer Interviews Trump Ahead Of Sentence
A New York City probation officer questioned Donald Trump in a remote video interview on Monday, a month before the former president is slated to be sentenced in the wake of his felony conviction in the Manhattan district attorney's hush money case.
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June 10, 2024
Ex-LA Chinatown Bank CFO Gets 3 Years For Embezzlement
The former chief financial officer of a bank based in Los Angeles' Chinatown has been sentenced to three years in prison after pleading guilty to bank fraud for embezzling more than $700,000 from his employer.
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June 10, 2024
Exec Wants IRS To Destroy Or Yield Docs In Summons Fight
The IRS should be forced to destroy or return bank records it obtained from a cryptocurrency executive charged in a 2020 bitcoin fraud investigation because the agency failed to notify him and his company of the summonses for the records, they told a Texas federal court Monday.
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June 10, 2024
Unclaimed Property Group Backs Disney At Mich. High Court
An unclaimed property holder trade organization urged the Michigan Supreme Court to affirm that the state waited too long to demand that Disney and a restaurant company remit unclaimed property, arguing that third-party auditors' lax oversight allowed examinations to languish beyond the statute of limitations.
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June 10, 2024
Big Tech Urges US Reprisal Over Canada's Impending DST
The Office of the U.S. Trade Representative should open formal dispute proceedings with the Canadian government in response to a 3% digital services tax that is expected to soon pass in the Canadian Senate, business groups with members in the U.S. tech industry said Monday.
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June 10, 2024
Mass. House Omits Local-Option Tax From $6B Housing Bill
A proposal by Massachusetts Gov. Maura Healey to allow local-option transfer fees on high-value real estate sales was left out of a housing package worth more than $6 billion passed by the state House of Representatives.
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June 10, 2024
Judge Unseals Some Testimony Of Trump Tax Info Leaker
A federal magistrate judge on Monday ordered the unsealing of some testimony from a former IRS contractor about how he illegally gained access to former President Donald Trump's tax returns in a billionaire's case suing the agency over the breach.
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June 10, 2024
Kan. Court Rejects Valuation Based On Overturned Precedent
The Kansas Board of Tax Appeals incorrectly relied on overturned precedent when it lowered a Home Depot's property value by almost $2 million, the Kansas Appeals Court ruled.
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June 07, 2024
LIHTC Developer Asks 11th Circ. To Undo Investor Takeover
A developer told the Eleventh Circuit on Friday it is a victim of a scheme by investors using a lower court ruling to complete a takeover of two Tampa, Florida, senior housing complexes developed with federal low-income housing tax credits.
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June 07, 2024
Trump Can Bring Atty To Presentence Interview
A New York judge ruled Friday that Donald Trump can bring his attorney with him when he sits down with a New York City probation officer for a presentence interview, granting an unusual accommodation to the former president before he is sentenced for his criminal conviction next month.
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June 07, 2024
3rd Circ. Backs NJ In Pipeline Co.'s Business Tax Fight
The Third Circuit ruled Friday that New Jersey's partnership filing fee is a state affair that can't be challenged in federal court, dealing a blow to a pipeline company seeking to shed the cost because it does very little business in the state.
Expert Analysis
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Opinion
Nebraska Should Abandon Proposed Digital Ad Tax
If passed, Nebraska’s recently proposed Advertising Services Tax Act, which would finance property tax relief by imposing a 7.5% gross revenue tax on advertising services, would cause a politically risky shift of tax burdens from landowners to local businesses and consumers, and would most certainly face litigation, say attorneys at McDermott.
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The Legal Industry Needs A Cybersecurity Paradigm Shift
As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.
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As Promised, IRS Is Coming For Crypto Tax Evaders
The IRS is fulfilling its promise to crack down on those who have neglected to pay taxes on cryptocurrency earnings, as demonstrated by recently imposed prison sentences, enforcement initiatives and meetings with international counterparts — suggesting a few key takeaways for taxpayer compliance, say attorneys at BakerHostetler.
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5 Reasons Associates Shouldn't Take A Job Just For Money
As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.
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Series
Playing Competitive Tennis Makes Me A Better Lawyer
My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.
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Series
The Pop Culture Docket: Judge Djerassi On Super Bowl 52
Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.
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Parsing Treasury's Proposed Clean Hydrogen Tax Credit Rules
Regulations recently proposed by the IRS and the U.S. Department of the Treasury concerning two types of tax credits for clean hydrogen production facilities should resolve many of the most pressing questions around qualification for the credits — albeit in a relatively stringent manner, say attorneys at Morgan Lewis.
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Employee Experience Strategy Can Boost Law Firm Success
Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.
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Series
Competing In Triathlons Makes Me A Better Lawyer
While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.
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Where Justices Stand On Chevron Doctrine Post-Argument
Following recent oral argument at the U.S. Supreme Court, at least four justices appear to be in favor of overturning the long-standing Chevron deference, and three justices seem ready to uphold it, which means the ultimate decision may rest on Chief Justice John Roberts' vote, say Wayne D'Angelo and Zachary Lee at Kelley Drye.
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Perspectives
6 Practice Pointers For Pro Bono Immigration Practice
An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.
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Lessons From Country Singer's Personal Service Saga
Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.
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After Watershed Year, Clean Hydrogen Faces New Challenges
Clean hydrogen is on the verge of taking off — but over the course of 2023, it became clear that the regulatory landscape will be more stringent than expected, and the cost and timing of major projects will depend on a number of key developments anticipated in 2024, say attorneys at Weil.
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Series
Baking Bread Makes Me A Better Lawyer
After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.
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Federal Courts And AI Standing Orders: Safety Or Overkill?
Several district court judges have issued standing orders regulating the use of artificial intelligence in their courts, but courts should consider following ordinary notice and comment procedures before implementing sweeping mandates that could be unnecessarily burdensome and counterproductive, say attorneys at Curtis.