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Tax
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November 14, 2024
Gaetz's Slim Legal Resume Raises Concerns Over AG Role
Having never served as a prosecutor and with minimal experience practicing law, Matt Gaetz would have the thinnest legal resume of any attorney general in recent history and would face a steep learning curve, including daunting leadership challenges, if he were to take up the reins of the U.S. Department of Justice, experts say.
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November 14, 2024
Australia Bill Seeks To Expand Rules On Reporting Ownership
Australia's government wants to fight tax avoidance by making owners of equity derivatives disclose significant owners to regulators and investors, expanding access to that information and giving securities regulators new powers to issue freezing orders for noncompliance, the Australian Treasury said Thursday.
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November 14, 2024
Duo Charged With Hacking Tax Firms In Refund Fraud Scheme
Boston federal prosecutors have unsealed charges against two men who allegedly used information hacked and stolen from Massachusetts tax preparation firms to pocket more than $1.3 million from fraudulent tax returns.
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November 14, 2024
DC Circ. Won't Rethink Denial Of Church Tax Exemption
The D.C. Circuit rejected a request to reconsider the tax status of an Iowa church that used a psychedelic drug in its rites, letting stand its decision that because the church uses a federally illegal drug, it isn't entitled to tax-exempt status.
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November 14, 2024
European Police Detain 43 Suspects In €520M VAT Fraud
European police detained 43 suspects linked to a value-added tax fraud scam valued at €520 million ($550 million) in a cross-border operation against organized crime, law enforcement agencies said Thursday.
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November 13, 2024
Judge Cites 'Deterrence' In Attys' Tax Scheme Prison Sentence
Two St. Louis tax attorneys and a North Carolina insurance agent's pleas for leniency were largely ignored Wednesday by a federal judge sentencing them for their role in a multimillion-dollar tax avoidance scheme, with the judge declaring that the need for public deterrence was too great to let them off the hook without prison time.
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November 13, 2024
Boston Says Celebrity Chef Owes $1.6M In Taxes
The city of Boston is taking celebrity chef Barbara Lynch to court, alleging that for more than a decade she has failed to pay over $1.6 million in personal property taxes for her group of restaurants, which she is in the process of closing and attempting to sell.
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November 13, 2024
Detroit Fire Fee Ruling Concerns Mich. Justice
A Michigan Supreme Court justice on Wednesday said he was troubled by a lower appellate ruling he said seemed to imply that municipalities can work around a state law barring sneaky taxes, in this case by stating a charge for fire prevention services is really just the cost of a permit allowing property owners to do business in Detroit.
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November 13, 2024
Madigan's Atty Seeks To Discredit Key Government Witness
The cross-examination of a former ComEd executive who wore a wire for the government as it built its corruption case against ex-Illinois House Speaker Michael Madigan veered Wednesday into the informant's messy divorce proceedings and his failure to disclose felony charges when trying to buy a gun to kill snakes, as Madigan's attorneys tried to call his credibility into question.
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November 13, 2024
Denver Voters OK Sales Tax Hike For Hospital
Denver will boost its total local sales tax rate by 0.34 of a percentage point under Issue 2Q, which voters passed, with the revenue from the tax slated for city hospital Denver Health.
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November 13, 2024
3rd Circ. Wary Of Easing Cheesesteak Shop Owner's Sentence
Third Circuit judges seemed mostly skeptical of overturning an extension to the prison sentence of a Philadelphia cheesesteak shop owner who admitted to paying employees off the books, saying during oral arguments it was unclear whether the employees should be considered co-conspirators in the tax fraud.
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November 13, 2024
Trump Taps DOJ Critic Matt Gaetz For Attorney General
President-elect Donald Trump on Wednesday nominated Rep. Matt Gaetz to be the next U.S. attorney general, seeking to elevate a close political ally to lead a Justice Department that the Florida lawmaker has sharply criticized and that last year declined to charge him in a sex-trafficking investigation.
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November 13, 2024
Feds Want 2 Years' Jail For Biz Owner In $2.8M Tax Scheme
A construction company owner who paid workers off the books by pretending they were subcontractors, even after one of them died, should serve two years in prison and pay $2.8 million in restitution to the Internal Revenue Service for the tax loss, prosecutors told a Massachusetts federal court.
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November 12, 2024
Trump Taps Elon Musk To Head New 'Gov't Efficiency' Dept.
President-elect Donald Trump announced Tuesday that billionaire Elon Musk and former presidential candidate Vivek Ramaswamy will lead a newly created "Department in Government Efficiency" for his administration come January.
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November 12, 2024
Catfished Ex-NBA Player Says Atty Stole Cash, Blew Film Deal
A former NBA player is suing his longtime attorney for legal malpractice in Colorado state court, claiming the attorney stole his money and failed to protect his intellectual property rights while negotiating the terms of a documentary deal about his victimization in an elaborate online catfishing scheme.
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November 12, 2024
Mich. High Court Snapshot: 3M's PFAS Fight, Detroit Fire Fees
The Michigan Supreme Court returns to the bench Wednesday in a packed oral argument sitting, including a major case on the viability of state PFAS regulations in a challenge brought by 3M Co.
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November 12, 2024
Ex-ComEd Exec Asked If Madigan Hires Truly An 'Exchange'
Defense attorneys got their chance Tuesday to grill an ex-Commonwealth Edison executive who testified the utility hired people who did little to no work at the behest of former Illinois House Speaker Michael Madigan, asking if it truly traded those jobs for Madigan's action on ComEd legislation or if the company was just building goodwill with a key decision-maker.
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November 12, 2024
Trump's 'Pro-Business' Agenda Could Be A Boon For M&A
President-elect Donald Trump's "pro-business" priorities and an anticipated relaxation of antitrust scrutiny are expected to boost mergers and acquisitions activity, but his tariff plan may have mixed results across sectors — and select deals could be subject to his "unpredictability," attorneys told Law360.
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November 12, 2024
Missouri Appeals Court Quashes County Cannabis Taxes
The Missouri Constitution bars counties from levying taxes on cannabis sales made inside incorporated municipalities that can impose their own taxes, a state appeals court held Tuesday in ruling in favor of a dispensary that challenged two counties' taxes.
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November 12, 2024
Broker Calls 78-Month Sentence For Tax Scheme Unfair
An insurance agent convicted of conspiracy and tax crimes in a multimillion-dollar tax avoidance scheme told a North Carolina federal court ahead of his sentencing, scheduled for Wednesday, that the 78-month prison sentence recommended by prosecutors is harsher than punishments for similar offenders.
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November 12, 2024
Trump's NY Case Paused As DA Weighs Impact Of Election
A New York state judge agreed to a joint motion to freeze the proceedings in Donald Trump's hush money case following his electoral victory last week, allowing the Manhattan district attorney time to brief the court on "appropriate steps going forward."
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November 08, 2024
9th Circ. Says Univ. Wrongly Deprived Of Tax-Exempt Status
The Ninth Circuit on Friday reversed a decision by an Arizona district court backing the U.S. Department of Education's determination that the privately owned Grand Canyon University didn't qualify as a nonprofit institution for classification related to federal loan and grant programs.
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November 08, 2024
Italy's Finance Minister Says EU Must Adopt Digital Tax
The European Union must adopt a digital services tax despite the threat of retaliatory trade measures by the U.S., Italy's finance minister told the country's Parliament as it seeks to widen the scope of its own measure to domestic companies.
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November 08, 2024
Career Butler Snow Attorney Joins Holland & Knight In NYC
Holland & Knight LLP has hired a transactional attorney who focuses her practice on new markets tax credits and other financial matters, and who spent her entire career up to now with Butler Snow LLP, the firm announced Thursday.
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November 08, 2024
Mass. Hay Farm Not Eligible For Ag Tax Break, Court Affirms
A Massachusetts land parcel that is used for growing and harvesting hay is not eligible for a reduced tax assessment as agricultural land because not enough of the parcel is devoted to the haying operation, the state Court of Appeals affirmed Friday.
Expert Analysis
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How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.
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Series
Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.
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Use The Right Kind Of Feedback To Help Gen Z Attorneys
Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.
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Opinion
Congress Can And Must Enact A Supreme Court Ethics Code
As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.
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What To Make Of Dueling Corporate Transparency Act Rulings
Although challenges to the Corporate Transparency Act abound — as highlighted by recent federal court decisions from Alabama and Oregon taking opposite positions on its constitutionality — the act is still law, so companies should comply with their filing requirements or face the potential consequences, say attorneys at Lowenstein Sandler.
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Perspectives
The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan
Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.
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State Of The States' AI Legal Ethics Landscape
Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.
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8 Childhood Lessons That Can Help You Be A Better Attorney
A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.
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How The 2025 Tax Policy Debate Will Affect The Energy Sector
Regardless of the outcome of the upcoming U.S. election, 2025 will bring a major tax policy debate that could affect the energy sector more than any other part of the economy — so stakeholders who could be affected should be engaging now to make sure they understand the stakes, say attorneys at Mayer Brown.
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Opinion
This Election, We Need To Talk About Court Process
In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.
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Series
Playing Diplomacy Makes Us Better Lawyers
Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.
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Mental Health First Aid: A Brief Primer For Attorneys
Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.
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Series
Collecting Art Makes Me A Better Lawyer
The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.
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The Trade And Tax Issues Behind US-Canada Digital Tax Clash
The new Canadian digital services tax recently went into effect despite objections from the U.S., a controversy that represents an unusual mix of trade and tax policy, and many companies have been pondering how it will affect their e-commerce businesses, says Damon Pike at BDO.
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Series
Colorado Banking Brief: All The Notable Legal Updates In Q3
In the third quarter of 2024, Colorado's banking and financial services sector faced both regulatory updates and changes to state law due to recent federal court decisions — with consequences for local governments, mortgage lenders, state-chartered trust companies and federally chartered lenders serving Colorado consumers, says Sarah Auchterlonie at Brownstein Hyatt.