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Tax
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September 24, 2024
'The Predators Are Back,' Mich. Tax Foreclosure Attys Warn
Lawyers for a proposed class accusing Michigan counties of unlawfully keeping proceeds of their tax-foreclosed home sales urged a federal judge Monday to bar a third-party claims firm and a "conspiring" Michigan attorney from trying to snatch away class members using tactics they called abusive and illegal.
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September 24, 2024
Treasury To Allow 3 AMT Transition Methods, Official Says
Final rules on the new corporate alternative minimum tax are expected to adopt the proposed regulations' three ways for companies to transition to the regime, and the U.S. Treasury Department is open to other ways as well, a department official said Tuesday.
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September 24, 2024
Insurer Wants Quick Appeal At 8th Circ. In DOL Tax Fight
A health insurer will seek the Eighth Circuit's review after a federal judge refused to toss a suit from the U.S. Department of Labor claiming the company unlawfully took at least $66.8 million in Minnesota state tax liability from plans it administered to pay in-network providers.
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September 24, 2024
Exxon Claims It Beat Weak Defense In $1.8B Tax Trial
Exxon Mobil urged a Texas federal judge to find that it defeated what it called a scattered defense by the U.S. government during a five-day bench trial in April when the company argued for a $1.8 billion tax refund on its natural gas deal with Qatar, according to newly released filings.
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September 24, 2024
NJ Power Broker Says AG's 'Crime Thriller' Lacks A Crime
Powerful New Jersey businessman George E. Norcross III Tuesday called the Garden State's 111-page indictment alleging he led a scheme to strong-arm the acquisition of waterfront property in Camden through threats of economic and reputational harm a "crime thriller with no crime," and said it must be dismissed.
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September 24, 2024
Mich. Court Affirms Walmart Valuation As $5M Vacant Property
The $5 million tax valuation of a Walmart store in Michigan will stand, the state court of appeals said, rejecting arguments by a local township that a tax panel was wrong to value it as if it were vacant.
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September 24, 2024
Miller & Chevalier Adds Federal Tax Expert From White & Case
Miller & Chevalier Chtd. announced that it added a former partner at White & Case LLP to its tax controversy and litigation practice.
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September 23, 2024
NJ Justices Probe State's Role In Tax Sale Foreclosures
The New Jersey Supreme Court on Monday probed whether the state's Tax Sale Law still holds up in the wake of a 2023 U.S. Supreme Court ruling that the government cannot profit from a property seizure, pondering the state's role in tax sale foreclosures and if a private, third-party lienholder could be considered a state actor.
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September 23, 2024
NY Extends Industrial Property Tax Break Application Deadline
New York state extended by four years to 2029 the deadline to apply for property tax abatements for eligible industrial and commercial buildings in New York City as part of a bill signed by Democratic Gov. Kathy Hochul.
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September 23, 2024
DOJ Seeing Deluge Of Attacks In Tax Cases After Loper Bright
The U.S. Department of Justice's Tax Division is seeing its casework flooded with taxpayer arguments citing the U.S. Supreme Court's decision in Loper Bright overturning the Chevron doctrine, and that's not likely to change soon, a division chief said Monday.
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September 23, 2024
Profs, Retired Judges Ask Justices To Uphold Return Of Taxes
Two former bankruptcy judges and a group of law professors threw their support behind the bankruptcy trustee of a Utah transportation company seeking to convince the U.S. Supreme Court that the IRS, like any other creditor, should have to return payments deemed fraudulent under state law.
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September 23, 2024
Minn. Court Won't Slash Home's $189K Tax Valuation
A Minnesota homeowner's attempt to cut the tax valuation of his home by nearly one-third was rejected by the state tax court, which said his use of comparable sales fell short of the evidence needed to overturn the assessment.
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September 23, 2024
Ex-Conn. Police Chief Demands Atty Fees After Winning Suit
The former chief of police in Newington, Connecticut, is demanding attorney fees after a state court judge dismissed him from a defamation lawsuit brought by the onetime town attorney and other ex-officials, which arose from ethics complaints that the plaintiffs say were full of lies.
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September 23, 2024
Squire Patton Tax Ace Joins Winston & Strawn In Dallas
Winston & Strawn LLP announced Monday it has expanded its tax offerings with the addition of an experienced attorney from Squire Patton Boggs LLP in Texas.
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September 23, 2024
Julie Chrisley Fights For Sentence Cut After 11th Circ. Ruling
Former reality TV star Julie Chrisley asked a Georgia federal judge on Friday to resentence her to no more than five years for her role in a $36 million tax evasion and fraud scheme, arguing against prosecutors' insistence that the seven-year sentence she was previously given be kept intact.
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September 23, 2024
HMRC Raises £1B Cracking Down On Tax Fraud
HM Revenue & Customs raised almost £1 billion ($1.3 billion) in its most serious criminal investigations of tax fraud year-on-year in April, according to research published by a law firm Monday.
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September 20, 2024
Slow Development Puts Nebraska District Into Ch. 9
A local development authority filed for Chapter 9 protection in Nebraska after laying out significant funds to install roads and sewer systems for a housing development that was stalled by the 2008 financial crisis.
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September 20, 2024
IRS Special Trial Attorney Joins Hochman Salkin In California
When Hochman Salkin Toscher Perez PC's newest principal, Sebastian Voth, was studying at Emory University School of Law, a former chief counsel for the Internal Revenue Service told students that the IRS was a great place to start their careers. After 15 years as an IRS attorney, Voth found that the agency was also a great place to work, he told Law360 Pulse in an interview Friday.
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September 20, 2024
Tribe's Stateless Status Undoes $1.9M Construction Suit
A Massachusetts federal judge on Thursday tossed a New York construction company's $1.9 million lawsuit against the Mashpee Wampanoag Tribe, finding the tribe's stateless position leaves the court with no jurisdiction to decide the case.
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September 20, 2024
Taxation With Representation: Gibson Dunn, Holland & Knight
In this week's Taxation With Representation, CACI International buys Azure Summit Technology, Hotel Engine lands a valuation led by Permira, and Knowles Corp. sells its microphone business to Syntiant Corp.
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September 20, 2024
IRS Must Credit Overpayments, Couple Tell 5th Circ.
A couple claiming they should be allowed to sue the IRS for a roughly $500,000 tax refund in federal court because they overpaid their taxes told the Fifth Circuit that the agency is out of time to challenge their overpayments and must credit their account.
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September 20, 2024
Ore. Couple Denied Tax Deduction For Below-Market Rentals
An Oregon couple were correctly denied income tax deductions for expenses related to rental properties, the state tax court said, because they did not charge the renters market rates, disqualifying the rentals as income-producing properties.
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September 19, 2024
Ch. 7 Trustee Urges Justices To Uphold Return Of Taxes
The bankruptcy trustee of a defunct Utah transportation company warned the U.S. Supreme Court on Thursday that overturning a decision forcing the IRS to return tax payments made by company directors to cover their personal debts would encourage shareholder fraud.
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September 19, 2024
MrBeast Co., Amazon Accused Of Exploiting TV Contestants
Reality show contestants have hit an Amazon Studios unit and the maker of the MrBeast YouTube channel with a proposed labor class action in California court, alleging they "shamelessly" exploited "Beat Games" contestants while threatening their livelihoods and misrepresenting their odds at winning the new show's $5 million grand prize.
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September 19, 2024
Convicted Drexel Professor Won't Get New Tax Evasion Trial
A Drexel University accounting professor was denied a new trial after being convicted on tax evasion charges for failing to report $3.3 million in income from a Trenton pharmacy, a New Jersey federal judge has ruled, reasoning that the professor's case was not prejudiced by keeping accounting records related to his tax returns from the jury.
Expert Analysis
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Opinion
Requiring Leave To File Amicus Briefs Is A Bad Idea
A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.
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4 Ways To Motivate Junior Attorneys To Bring Their Best
As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.
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How IRA Unlocks Green Energy Investments For Tribes
An Inflation Reduction Act provision going into effect May 10 represents a critical juncture for Native American tribes, offering promising economic opportunity in green energy investment, but requiring a proactive and informed approach when taking advantage of newly available tax incentives, say attorneys at Lewis Brisbois.
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Series
Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.
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Fears About The End Of Chevron Deference Are Overblown
While some are concerned about repercussions if the U.S. Supreme Court brings an end to Chevron deference in the Loper and Relentless cases this term, agencies and attorneys would survive just fine under the doctrines that have already begun to replace it, say Daniel Wolff and Henry Leung at Crowell & Moring.
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Former Minn. Chief Justice Instructs On Writing Better Briefs
Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.
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What To Know About IRS' New Jet Use Audit Campaign
The Internal Revenue Service recently announced plans to open several dozen audits scrutinizing executive use of company jets, so companies should be prepared to show the business reasons for travel, and how items like imputed income and deduction disallowance were calculated, say attorneys at Morgan Lewis.
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Stay Interviews Are Key To Retaining Legal Talent
Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.
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Opinion
Neb. Justices Should Weigh IRC Terms In Dividend Tax Case
Nebraska’s highest court, which will hear oral arguments in Precision CastParts v. Department of Revenue on April 1, should recognize that the Internal Revenue Code provides key clues to defining “dividends received or deemed to be received,” and therefore limits Nebraska’s tax on foreign-sourced corporate income, says Joseph Schmidt at Ryan.
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Series
Spray Painting Makes Me A Better Lawyer
My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.
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A Legal Playbook For Stadium Construction Agreements
As a new wave of construction in the professional sports arena space gets underway, owners must carefully consider the unique considerations and risks associated with these large-scale projects and draft agreements accordingly, say attorneys at Akerman.
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Opinion
Judicial Independence Is Imperative This Election Year
As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.
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Series
Riding My Peloton Bike Makes Me A Better Lawyer
Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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What Recent Study Shows About AI's Promise For Legal Tasks
Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.