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Tax
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February 04, 2025
External Revenue Service Could Help Solve Unpaid Duty Issue
President Donald Trump's call for a new agency designed to collect trade revenue, billed as the External Revenue Service, may be more than a flashy concept and could tackle lingering inefficiencies associated with duty collection, experts say.
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February 04, 2025
Akerman Adds Ex-DOJ Tax Atty From Chamberlain Hrdlicka
Akerman LLP has brought on a former Internal Revenue Service and U.S. Department of Justice trial attorney from Chamberlain Hrdlicka White Williams & Aughtry PC as a tax partner in Atlanta.
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February 04, 2025
Kostelanetz Adds Tax Pro From Lowenstein Sandler
Kostelanetz LLP said a former partner at Lowenstein Sandler LLP has joined the firm as a partner in the Washington, D.C., office.
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February 04, 2025
Wash. Gov. Orders Look At Data Centers' Tax Revenue Impact
Washington's governor issued an executive order directing the state's Department of Revenue to create a work group to examine the impact of data centers on the state's tax revenue and economy and recommend policies to address tax revenue needs in relation to other priorities.
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February 04, 2025
Walmart Gets Arbitration In Fla. Delivery Fee Tax Fight
An accusation that Walmart unlawfully charged Florida customers sales tax on delivery fees will go to arbitration, a federal judge ruled Tuesday, saying shoppers agreed to arbitration when they accepted the terms of use of the retailer's website.
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February 04, 2025
Mellon Heir's Estate Defends $29M Tax Refund Request
A Pittsburgh billionaire made a "bona fide" deal to indemnify the trustees for his Mellon family millions as he drained a family trust account, so a $200 million settlement to partly replenish the fund for his heirs should be deductible and produce a $29 million refund of his Pennsylvania estate taxes, the estate's lawyer told a state appellate court Tuesday.
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February 04, 2025
US Drops Out Early From UN Global Tax Convention Talks
The U.S. government will no longer participate in United Nations negotiations aimed at drafting a framework convention on international tax cooperation, intends to reject the outcome and welcomes other countries to join in its opposition, a U.S. diplomat said.
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February 04, 2025
Pa. Governor Puts Cannabis Legalization In Budget Proposal
Pennsylvania Gov. Josh Shapiro on Tuesday announced a plan to legalize recreational cannabis later this year as part of his budget proposal.
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February 04, 2025
3rd Circ. Urged To Nix Tax On $191M In Family Pharma Feud
A pharmaceutical company's $191 million payment settling a family feud over shares of the business did not include imputed interest triggering higher taxes as the U.S. government claims, a trust for family members who received the money told the Third Circuit.
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February 04, 2025
Calif. Insurer Can't Get Tax Refund On In-State Shipments
A California insurance company can't get a refund of sales taxes paid when it placed orders with three vendors located out of state that the vendors fulfilled with shipments from within the state, the California Office of Tax Appeals ruled.
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February 03, 2025
Trump Orders Plan For Creating US Sovereign Wealth Fund
President Donald Trump on Monday signed an executive order calling on the U.S. Department of the Treasury and U.S. Department of Commerce to come up with a plan to create a U.S. sovereign wealth fund and said the social media app TikTok could potentially be put in the proposed fund.
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February 03, 2025
Schumer Warns Of 'Hostile Takeover' From DOGE
Top Senate Democrats on Monday railed against access granted to Elon Musk's Department of Government Efficiency that allowed the outfit's employees to tap into the U.S. Department of Treasury's federal payment system over the weekend.
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February 03, 2025
Ill. Bill Seeks Tax Break For Megaproject Building Materials
Illinois would provide an exemption from any state or local use tax or retailers occupation tax for building materials incorporated into real estate at what are known as megaproject sites as part of a bill filed in the state House of Representatives.
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February 03, 2025
Ill. House Floats Income Tax Deduction Bill For Union Dues
Illinois would create an income tax deduction for union dues for taxpayers who weren't allowed a deduction under federal law as part of a bill filed in the state House of Representatives.
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February 03, 2025
Canada Gets Trump Tariffs Paused After Retaliation Threats
Canada and the U.S. have agreed to pause planned tariffs for at least 30 days while the two countries try to work out an agreement, Canadian Prime Minister Justin Trudeau and U.S. President Donald Trump said late Monday afternoon, an announcement that came after Canada floated retaliatory tariffs earlier in the day and said it would rip up a contract with Elon Musk's Starlink.
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February 03, 2025
IRS Defends Process For Denying Worker Credit Claims
The Internal Revenue Service defended its process for rejecting applications for pandemic-era worker tax credits that it deems too risky to pay out, telling an Arizona federal court that contrary to the claims of two companies suing the agency over denials, its response has been reasonable.
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February 03, 2025
White & Case Gets Tax Pro From Latham
White & Case LLP has added a former Latham & Watkins LLP senior associate to serve as a partner in its London office, the firm announced.
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February 03, 2025
DC Judge Joins RI In Blocking Trump Funding Freeze
A D.C. federal judge on Monday temporarily blocked the Trump administration from implementing a freeze on federal spending while a group of nonprofits sue over the move, ruling the pause appears to "suffer from infirmities of a constitutional magnitude."
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February 03, 2025
EPPO Probes Steel Tax Fraud In UK And Germany
The European Public Prosecutor's Office is investigating suspected tax fraud linked to imports of Indian steel into Germany via the U.K. to dodge the European Union's import duties, the office said Monday.
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February 03, 2025
US Tariffs On Mexico And Canada Paused For One Month
President Donald Trump said Monday that he will suspend the imminent 25% tariffs on Mexican and Canadian goods entering the U.S. for one month after talking with both countries' leaders.
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January 31, 2025
Funding Freezes 'Commonplace,' Feds Tell DC Judge
The Trump administration is asking a D.C. federal judge to throw out a lawsuit challenging a freeze on federal spending outlined in a since-rescinded memo from the White House budget office, telling the court that the withdrawal moots the litigation.
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January 31, 2025
Supreme Court Eyes Its 'Next Frontier' In FCC Delegation Case
A case about broadband subsidies will give the U.S. Supreme Court the chance to revive a long-dormant separation of powers principle that attorneys say could upend regulations in numerous industries and trigger a power shift that would make last term's shake-up of federal agency authority pale in comparison. And a majority of the court already appears to support its resurrection.
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January 31, 2025
UK Cos. See Brexit's Legacy In Steeper Compliance Costs
British companies doing business in the European Union have seen their tax compliance burden rise as the U.K.'s tax rules have moved further away from EU rules in the five years since Brexit, though the largest companies have been able to absorb the costs.
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January 31, 2025
Trump Threatens 100% Tariffs Over New BRICS Currency
President Donald Trump has lobbed tariff threats at a new group of countries, saying that he would implement 100% tariffs on members of the so-called BRICS coalition — which includes Brazil, Russia, India and China — if they follow through on plans to create a gold-backed currency as an alternative to the U.S. dollar.
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February 14, 2025
Law360 Seeks Members For Its 2025 Editorial Boards
Law360 is looking for avid readers of our publications to serve as members of our 2025 editorial advisory boards.
Expert Analysis
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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.
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Cos. Should Inventory Issues To Prep For New Congress
As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.
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Conservation Easement Cases Weave Web Of Uncertainty
Much of the IRS and Justice Department’s recent success in prosecuting syndicated conservation easement cases can be attributed to the government’s focus on the so-called PropCo ratio, which could indicate treacherous waters ahead for participants and their advisers, even under the incoming Trump administration, say attorneys at Polsinelli.
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So You Want To Move Your Law Practice To Canada, Eh?
Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.
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Legislation Most Likely To Pass In Lame Duck Session
As Congress begins its five-week post-election lame duck session, attorneys at Greenberg Traurig break down the legislative priorities and which proposals can be expected to pass.
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What Trump's 2nd Presidency Could Mean For Crypto Sector
Trump's second term will bring a fundamental shift from the Biden administration's approach to crypto-asset regulation and banking supervision, with the most significant changes likely taking effect in the first two quarters of 2025 and broader policy shifts emerging over the next year, say attorneys at Cahill.
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Promoting Diversity In The Selection Of ADR Neutrals
Excerpt from Practical Guidance
Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.
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Series
Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.
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Considering Chevron's End Through A State Tax Lens
States took the lead in encouraging Chevron's demise, turning away from Chevron-type deference in state tax administration ahead of the U.S. Supreme Court’s Loper Bright decision, a trend likely to accelerate as courts take a more active role in interpreting tax laws, say attorneys at Eversheds Sutherland.
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E-Discovery Quarterly: Recent Rulings On Metadata
Several recent rulings reflect the competing considerations that arise when parties dispute the form of production for electronically stored information, underscoring that counsel must carefully consider how to produce and request reasonably usable data, say attorneys at Sidley.