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Tax
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February 26, 2025
Tax Overhaul Designer Named Top Tax Adviser To Treasury
An attorney who worked for Exxon Mobil and helped design the 2017 tax overhaul in President Donald Trump's first term has been appointed to serve as a top tax adviser to Treasury Secretary Scott Bessent, Treasury announced Wednesday.
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February 26, 2025
NJ RICO Case Toss Leaves AG Irate, Defense Attys Elated
The erasure of a massive racketeering indictment against New Jersey power broker George E. Norcross III, politically connected attorneys and others on Wednesday drew a sharp rebuke from Attorney General Matt Platkin while defense attorneys gloated.
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February 25, 2025
DC Judge Blocks Trump's Federal Funding Freeze
A D.C. federal judge on Tuesday issued a preliminary injunction blocking the Trump administration from implementing a federal spending freeze while a group of nonprofits challenge the freeze, calling the measure "ill-conceived from the beginning."
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February 25, 2025
Spent Fuel Casks Are Taxable Real Property, NJ Court Rules
Storage casks housing highly radioactive spent nuclear fuel are subject to taxation as real property, the New Jersey Tax Court ruled Tuesday.
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February 25, 2025
Promised German Tax Cuts Could Come As Deficit Climbs
With the Christian Democrats, winners of Germany's election, having promised to pursue tax cuts, the country's Ministry of Finance revealed Tuesday that the budget deficit reached €18.7 billion ($19.7 billion) last month.
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February 25, 2025
10th Circ. Asked To Rethink Denying Atty's Racing Deductions
A Denver personal injury lawyer asked the Tenth Circuit to reconsider its decision barring his $300,000 tax deduction for car-racing costs as professional advertising, saying the court deprived him of due process in dismissing his argument that the IRS wrongly denied him a chance to settle.
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February 24, 2025
DC Judge Wary Of Constitutionality Of Musk's DOGE
A D.C. federal judge on Monday questioned the constitutionality of Elon Musk's Department of Government Efficiency while expressing skepticism that groups challenging the department's access to federal systems housing Americans' sensitive data had established the irreparable harm needed to block access.
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February 24, 2025
Investor Settles In $2.1B Danish Tax Fraud Case
A U.S. investor who was among those accused by Denmark's tax agency of participating in a $2.1 billion tax fraud scheme related to fraudulently claiming refunds on tax withheld from stock dividends has reached a settlement, according to New York federal court documents filed Monday.
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February 24, 2025
Justices Won't Hear Challenge To Colo. Tax Ballot Title Law
The U.S. Supreme Court on Monday let stand a ruling by the Tenth Circuit that a Colorado law requiring that financial impacts be included in the titles of some tax-related ballot initiatives does not cause "improperly compelled" speech.
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February 24, 2025
Tax Software Co. Says Rival Is The Real Trade Secrets Thief
Corporate-focused tax preparation software company Avalara, accused by Vertex Inc. of poaching workers to steal trade secrets, has asked to file counterclaims, arguing Vertex has actually done the illegal poaching.
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February 24, 2025
Osage Reservation Boundary Case Is Meritless, Court Told
Oklahoma Tax Commission officials are urging a federal district court to dismiss a motion by the Osage Nation that seeks acknowledgment of its reservation's continued existence, arguing that the decades-old case arises out of the tribe's attempt to avoid state taxation of its members.
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February 24, 2025
4 Things Attys Should Know About Pennsylvania's Budget
Pennsylvania Gov. Josh Shapiro heads into the 2025-2026 budget year proposing to spend $51.5 billion, with corporate tax cuts and tax credit reforms bolstered by regulating so-called skill games, legalizing recreational cannabis and replacing an industry-opposed, multistate carbon cap-and-trade program with one run solely by Pennsylvania.
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February 24, 2025
Apple To Invest $500B In US Over 4 Years As Tariffs Mount
Apple said Monday that it would invest $500 billion in the U.S. over the next four years, weeks after President Donald Trump placed a 10% tariff on goods from China, where the company sources components for its products, and threatened tariffs on semiconductors.
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February 22, 2025
NY Judge Extends Block On DOGE's Treasury Access
A New York federal judge on Friday barred Elon Musk's Department of Government Efficiency from accessing U.S. Treasury Department data, handing a win to 19 state attorneys general who claimed giving the new entity access to citizens' personal information posed a massive cybersecurity risk.
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February 21, 2025
Fla. Biz Owner Gets 4 Years In Prison For Worker Fraud Plot
A Florida federal judge sentenced a construction business owner to four years in prison and ordered him to pay millions of dollars in restitution after pleading guilty to fraud-related charges in connection with an elaborate worker scheme and violating safety standards that led to the death of an employee.
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February 21, 2025
Judge Trims $40M Green Energy Co. Investor Suit
A Tennessee federal judge won't toss a proposed class action claiming that a Chicago green energy outfit and its executives used false promises of extravagant returns to lure investors, but ruled two defendants can escape some of the suit's claims.
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February 21, 2025
Trump Says Tariffs Coming For Countries With DSTs
President Donald Trump's administration will impose tariffs on countries with taxes that disproportionately affect American companies, such as digital services taxes, which mainly apply to tech giants, according to a memorandum released late Friday.
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February 21, 2025
Mich. Pot Cos. Say Grand Rapids' Equity Fees Are Illegal
A group of cannabis companies is suing the city of Grand Rapids in Michigan state court, saying it is illegally charging them millions in fees through its social equity program.
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February 21, 2025
Telecom Biz Re-Ups Push To Exempt BEAD Funds From Taxes
The telecom industry is again pressing policymakers to make income from federal broadband deployment grants tax-free.
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February 21, 2025
Lobbyist Admits To Evading $1.3M Tax By Blocking Home Sale
A lobbyist admitted to trying to thwart IRS efforts to collect about $1.3 million in taxes he owed by preventing a real estate agent from widely listing his home and by transferring assets to a family member, according to Florida federal court documents.
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February 21, 2025
French 2% Minimum Wealth Tax Advances In Parliament
French households with assets worth more than €100 million ($104.6 million) would be subject to a 2% minimum tax on their net worth annually under a top-up wealth tax proposal approved by the lower house of France's Parliament.
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February 21, 2025
Billionaire's Tax Privacy Suit Against Booz Allen Proceeds
A billionaire's lawsuit against government contractor Booz Allen Hamilton blaming it for the theft of his tax returns in an unprecedented breach by a Booz Allen employee working at the IRS can move forward, a Maryland federal court ruled Friday, rejecting a bid to toss the case.
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February 21, 2025
Md. Senate OKs Tax Break For Service Station Conversions
Certain retail service stations in Maryland converted to other uses would be eligible for local property tax breaks under legislation approved by the state Senate and sent to the House.
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February 21, 2025
IRS Offers Guidance On Health Coverage Statements
The Internal Revenue Service released guidance Friday related to alternative methods for employers to provide health insurance coverage statements to employees as part of a larger move to reduce paperwork.
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February 21, 2025
Taxation With Representation: Kirkland, V&E, Cravath, Dechert
In this week's Taxation With Representation, Diamondback Energy buys Midland Basin assets from another oil and natural gas company, GTCR closes its second strategic growth fund, Light & Wonder Inc. buys Grover Gaming's assets, and Barings acquires Artemis Real Estate Partners.
Expert Analysis
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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Opinion
Congress Should Expand Investment Options For 403(b)s
Lawmakers should pass pending legislation to give 403(b) plan participants access to collective investment trusts, leveling the playing field for public sector retirement investors by giving them an investment option their private sector counterparts have had for decades, says Jason Levy at Great Gray Trust Company.
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Think Like A Lawyer: 1 Type Of Case Complexity Stands Out
In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a “sliding scale” approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.
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Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity
Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.
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Series
Gardening Makes Me A Better Lawyer
Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.
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Litigation Inspiration: Reframing Document Review
For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.
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Rank-And-File DOJ Attorneys Will Keep Calm And Carry On
Career prosecutors at the U.S. Department of Justice often pride themselves on their ability to remain apolitical in order to ensure consistency and keep the department’s mission afloat, and the incoming Trump administration is unlikely to upend this tradition, says Michael Landman at Bird Marella.
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California Supreme Court's Year In Review
Attorneys at Horvitz & Levy highlight notable decisions on major questions from the California Supreme Court's last term, including voter initiatives, hostile work environment and the economic loss rule.
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Series
Flying Makes Me A Better Lawyer
Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.
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What Higher Education Can Expect From A 2nd Trump Admin
The election of Donald Trump for a second presidential term has far-reaching ramifications for colleges and universities — come January, institutions can expect a crackdown on DEI, increased scrutiny of campus protests, a rollback of the Biden administration's Title IX rules and more, say attorneys at Jenner & Block.
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Series
Circus Arts Make Me A Better Lawyer
Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.
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3 Ways To Train Junior Lawyers In 30 Minutes Or Less
Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.
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Expect Surging Oil And Gas Industry Under New Trump Admin
Throughout his recent campaign, President-elect Donald Trump promised increased oil and natural gas production and reduced reliance on renewables — and his administration will likely bring more oil and gas dealmaking, faster federal permitting and attempts to roll back incentives for green energy, say attorneys at Sidley.
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The Bar Needs More Clarity On The Discovery Objection Rule
Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.
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Series
Being A Navy Reservist Makes Me A Better Lawyer
Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.