Tax

  • April 24, 2024

    EU Court Won't Disturb Spanish Tax Break Rulings

    A Spanish company on Wednesday lost its attempt to legitimize a tax scheme declared illegal by the European Commission when the European Union's General Court rejected its appeal, refusing to disturb prior decisions in the long-running dispute.

  • April 24, 2024

    GOP Reps Seek IRS Nonprofit Info After China Reports

    House Ways and Means Republicans asked the Internal Revenue Service to provide information about how it monitors tax-exempt organizations for possible violations of their status after reports China may be funding and improperly influencing nonprofits, according to a letter sent Wednesday.

  • April 24, 2024

    Chancery Lets $344M Carlyle Tax-Payout Suit Move Ahead

    A vice chancellor of the Delaware Court of Chancery on Wednesday refused to toss most claims in a stockholder suit led by a Pittsburgh pension fund targeting a $344 million tax-asset buyout at The Carlyle Group Inc., though she did trim the suit by a single count.

  • April 24, 2024

    Mass. Golf Course Manager Gets 13 Months For Tax Fraud

    A Massachusetts golf course manager was sentenced to 13 months in prison after pleading guilty to tax charges, following prosecutors' accusations that he manipulated contracts with a home developer to deflate their value.

  • April 24, 2024

    Kaiser Wins $6.7M Real Estate Tax Refund Linked To Nonprofit

    A split Washington appeals panel said that the Kaiser Foundation Health Plan of Washington was entitled to a $6.7 million real estate excise tax refund levied after its acquisition of the nonprofit Group Health Cooperative, reversing a trial court.

  • April 24, 2024

    Hawaii High Court Affirms Timeshare Property Tax Is Legal

    Timeshares in Maui County, Hawaii, were properly taxed using a timeshare property classification because the classification is both constitutional and in line with the county's code, the state Supreme Court affirmed.

  • April 24, 2024

    Trump Can't Subpoena Daniels For Alleged Bias In NY Trial

    A New York state judge rejected Donald Trump's "overbroad" subpoena seeking records that the former president said would show bias by adult film star Stormy Daniels ahead of her testimony about an alleged hush money payment in 2016.

  • April 24, 2024

    EU Keeps Gibraltar, Panama, UAE On AML Blacklist

    Gibraltar, Panama and the United Arab Emirates should remain on the European Union's blacklist of high-risk countries for money laundering, the European Parliament said, stopping the EU from following the lead of a global organization promoting standards for countries to fight those crimes.

  • April 24, 2024

    EU Says 3 States Aren't Correctly Following AML Law

    The European Commission said Wednesday that three European Union countries — Ireland, France and Latvia — aren't correctly implementing the bloc's laws against money laundering, meaning that the countries now have two months to correct the shortcomings.

  • April 23, 2024

    4 Things Attys Should Know About NJ's $56B Spending Plan

    New Jersey Gov. Phil Murphy has crafted a spending plan that furthers his vision of the state as an innovator in offshore wind and artificial intelligence, while drawing pushback for a proposed corporate transit fee and warehouse tax.

  • April 23, 2024

    Tabloid Made Deal To Save Trump 'Embarrassment,' Jury Told

    A longtime tabloid executive told a Manhattan jury Tuesday that he struck a secret deal with Donald Trump ahead of the 2016 presidential election to plant negative stories about his opponents and suppress salacious stories that could cause his campaign "embarrassment."

  • April 23, 2024

    Biz Ownership Law Constitutional, Lawmakers Tell 11th Circ.

    The Corporate Transparency Act is a garden-variety exercise of Congress' powers to address threats to national security, foreign affairs, commerce and tax collection, five Democratic lawmakers told the Eleventh Circuit, disputing a ruling that the law is unconstitutional.

  • April 23, 2024

    Broadcasters Support Bill To Revive Diversity Tax Certificate

    Broadcasters are supporting the recent reintroduction of a bill that seeks to increase diversity in the broadcasting industry by requiring the Federal Communications Commission to bring back a tax incentive program to facilitate the sale of broadcast stations to people of color and women.

  • April 23, 2024

    DC Circ. Backs Tax Penalties Against Swiss Couple

    A Swiss couple who incurred $500,000 in penalties for failing to report millions of dollars they held in Swiss bank accounts can't get out of paying, the D.C. Circuit ruled Tuesday, rejecting their argument that the IRS didn't properly approve the fines.

  • April 23, 2024

    Migrant-Hiring Crimes And Tax Evasion Get Pair Prison, $1.8M Fine

    A Florida federal judge has ordered two men to pay $1.8 million to the U.S. government and sentenced them to three years in prison after they confessed to recruiting migrants without employment authorization and failing to report workers' wages for tax purposes.

  • April 23, 2024

    Dentons Adds Ex-Jones Walker SALT Atty To Ala. Office

    Dentons Sirote said it has added a state and local tax shareholder who was previously a partner at Jones Walker LLP to the tax practice in its Birmingham, Alabama, office.

  • April 23, 2024

    Atty Can Deduct $303K In Racing Ad Costs, 10th Circ. Told

    A Colorado attorney asked the Tenth Circuit to reverse a U.S. Tax Court decision that prevented him from deducting $303,000 in advertising expenses tied to his automobile racing, saying the lower court incorrectly ruled that the costs were related to a hobby rather than his litigation practice.

  • April 23, 2024

    Coverage Recap: Day 2 Of Trump's NY Hush Money Trial

    Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a full recap from day two.

  • April 23, 2024

    Trump 'Detached From Facts' In Fla. Docs Case, Feds Say

    Prosecutors in Donald Trump's classified documents case have told a Florida federal judge that the former president's legal team was trying to paint a false narrative of political bias in its motion to obtain more discovery.

  • April 23, 2024

    Feds Want About 3 Years In Prison For LA Bank Embezzler

    The former chief financial officer at a community bank in Los Angeles should spend nearly three years in prison after admitting he embezzled more than $700,000 and used employee identities in a life insurance scheme, the government told a California federal court.

  • April 23, 2024

    Indicted 'Magician' Tax Preparer's Clients Under Scrutiny

    Clients of a New York City-based tax preparer who earned the nickname "the magician," allegedly making $15 million while fraudulently depriving the IRS of $100 million, may also face charges, a prosecutor told the federal judge in charge of the case on Tuesday.

  • April 23, 2024

    Trump Atty 'Losing Credibility' In Defending Posts, Judge Says

    The New York judge presiding over former President Donald Trump's hush money case on Tuesday gave a harsh appraisal of defense attorney Todd Blanche's attempts to keep his client out of criminal contempt for disparaging witnesses online, saying the lawyer was "losing all credibility" as he argued Trump was "being very careful" with his words.

  • April 23, 2024

    DOL's Final Investment Advice Regs Expand ERISA's Reach

    The U.S. Department of Labor issued final regulations Tuesday broadening who qualifies as a fiduciary under the Employee Retirement Income Security Act, backing off some changes included in a proposal the agency released in October.

  • April 22, 2024

    Seattle Property Owners Can't Use COVID To Stop $160M Tax

    A Washington appeals court said on Monday that Seattle can keep a $160 million property tax to pay for waterfront improvements, in an opinion that rejected an argument that diminished property values after COVID-19 should force the city to recalculate the tax.

  • April 22, 2024

    Hedge Funder's IRS Suit Over Leaked Tax Info Gets Trimmed

    A Florida federal judge on Monday dismissed part of a hedge fund executive's case seeking to hold the Internal Revenue Service accountable for a leak of his private tax data to the media, saying he failed to show he suffered any damages.

Expert Analysis

  • Caregiver Flexibility Is Crucial For Atty Engagement, Retention

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    As the battle for top talent continues post-pandemic, many firms are attempting to attract employees with progressive hybrid working environments — and supporting caregivers before, during and after an extended leave is a critically important way to retain top talent, says Manar Morales at The Diversity & Flexibility Alliance.

  • Opinion

    3 Principles Should Guide MTC's Digital Products Tax Work

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    As the Multistate Tax Commission's project to harmonize sales tax on digital products moves forward, three key principles will help the commission's work group arrive at unambiguous definitions and help states avoid unintended costs, say Charles Kearns and Jeffrey Friedman at Eversheds Sutherland.

  • OECD Treatment Of Purchased Ga. Film Credits Isn't Peachy

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    Producers considering Georgia as a prospective location for filming may already be concerned that the Organization for Economic Cooperation and Development's July decision will hamper the eventual 2026 or later sale of their Georgia film tax credits, says Alan Lederman at Gunster.

  • If Justices End Chevron Deference, Auer Could Be Next Target

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    If the U.S. Supreme Court decides next term to overrule its Chevron v. NRDC decision, it may open the door for a similar review of the Auer deference — the principle that a government agency can interpret, through application, ambiguous agency regulations, says Sohan Dasgupta at Taft Stettinius.

  • Tax Court Ruling Provides Helpful Profits Interest Guidance

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    A recent U.S. Tax Court decision holding that a partnership may exclude interests in a company that it indirectly received sheds light on related IRS guidance, including the proper valuation method for such interests, though the court's application of the method to the facts of this case appears flawed, say attorneys at Kramer Levin.

  • In-Office Engagement Is Essential To Associate Development

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    As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.

  • Perspectives

    A Judge's Pitch To Revive The Jury Trial

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    Ohio state Judge Pierre Bergeron explains how the decline of the jury trial threatens public confidence in the judiciary and even democracy as a whole, and he offers ideas to restore this sacred right.

  • A Milestone For Offshore Wind In Maine

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    Recently signed legislation directing Maine to procure up to 3 gigawatts of offshore wind by 2040 offers indisputable promise that the state will soon welcome commercial-scale offshore wind development off its shores, says Joshua Rosen at Foley Hoag.

  • Rebuttal

    Mallory Ruling Doesn't Undermine NC Sales Tax Holding

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    Contrary to the conclusion reached in a recent Law360 guest article, the U.S. Supreme Court’s recent Mallory ruling shouldn't be read as implicitly repudiating the North Carolina Supreme Court’s sales tax ruling in Quad Graphics v. North Carolina Department of Revenue — the U.S. Supreme Court could have rejected Quad by directly overturning it, says Jonathan Entin at Case Western Reserve.

  • Opinion

    Calif. Policymakers Should Aid Crashing Cannabis Market

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    As California’s cannabis sector nears the brink of financial collapse, it may be time for the state government to seriously consider potential bailout programs for the embattled industry — though the crisis also presents strategic buying opportunities for those with a high tolerance for uncertainty, says Michelle Mabugat at Greenberg Glusker.

  • How To Recognize And Recover From Lawyer Loneliness

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    Law can be one of the loneliest professions, but there are practical steps that attorneys and their managers can take to help themselves and their peers improve their emotional health, strengthen their social bonds and protect their performance, says psychologist and attorney Traci Cipriano.

  • Opinion

    Litigation Funding Disclosure Should Be Mandatory

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    Despite the Appellate Rules Committee's recent deferral of the issue of requiring third-party litigation funding disclosure, such a mandate is necessary to ensure the even-handed administration of justice across all cases, says David Levitt at Hinshaw.

  • Recalling USWNT's Legal PR Playbook Amid World Cup Bid

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    As the U.S. Women's National Soccer Team strives to take home another World Cup trophy, their 2022 pay equity settlement with the U.S. Soccer Federation serves as a good reminder that winning in the court of public opinion can be more powerful than a victory inside the courtroom, says Hector Valle at Vianovo.

  • What Came Of Texas Legislature's Long-Promised Tax Relief

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    Following promises of historic tax relief made possible by a record budget surplus, the Texas legislative session as a whole was one in which taxpayers that are large businesses could have done somewhat better, but the new legislation is clearly still a positive, say attorneys at Baker Botts.

  • Looking Behind The Curtain Of Residential Transition Loans

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    As residential transition loans and securitizations of such loans grow increasingly popular, real estate stakeholders should take care to understand both the unique features and potential challenges offered by this novel asset class, say attorneys at Mayer Brown.

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