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Tax
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June 11, 2024
Democratic Republic Of Congo Joins African Tax Coalition
The Democratic Republic of the Congo has officially joined the African Tax Administration Forum as its 44th member, the group announced.
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June 11, 2024
French Tax Law Challenged On Free Movement Grounds
The European Court of Justice is examining a French law regarding undeclared assets held outside the country to determine whether it is in line with the European Union's law respecting free movement of capital, the EU's official journal said.
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June 10, 2024
NYC Probation Officer Interviews Trump Ahead Of Sentence
A New York City probation officer questioned Donald Trump in a remote video interview on Monday, a month before the former president is slated to be sentenced in the wake of his felony conviction in the Manhattan district attorney's hush money case.
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June 10, 2024
Ex-LA Chinatown Bank CFO Gets 3 Years For Embezzlement
The former chief financial officer of a bank based in Los Angeles' Chinatown has been sentenced to three years in prison after pleading guilty to bank fraud for embezzling more than $700,000 from his employer.
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June 10, 2024
Exec Wants IRS To Destroy Or Yield Docs In Summons Fight
The IRS should be forced to destroy or return bank records it obtained from a cryptocurrency executive charged in a 2020 bitcoin fraud investigation because the agency failed to notify him and his company of the summonses for the records, they told a Texas federal court Monday.
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June 10, 2024
Unclaimed Property Group Backs Disney At Mich. High Court
An unclaimed property holder trade organization urged the Michigan Supreme Court to affirm that the state waited too long to demand that Disney and a restaurant company remit unclaimed property, arguing that third-party auditors' lax oversight allowed examinations to languish beyond the statute of limitations.
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June 10, 2024
Big Tech Urges US Reprisal Over Canada's Impending DST
The Office of the U.S. Trade Representative should open formal dispute proceedings with the Canadian government in response to a 3% digital services tax that is expected to soon pass in the Canadian Senate, business groups with members in the U.S. tech industry said Monday.
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June 10, 2024
Mass. House Omits Local-Option Tax From $6B Housing Bill
A proposal by Massachusetts Gov. Maura Healey to allow local-option transfer fees on high-value real estate sales was left out of a housing package worth more than $6 billion passed by the state House of Representatives.
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June 10, 2024
Judge Unseals Some Testimony Of Trump Tax Info Leaker
A federal magistrate judge on Monday ordered the unsealing of some testimony from a former IRS contractor about how he illegally gained access to former President Donald Trump's tax returns in a billionaire's case suing the agency over the breach.
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June 10, 2024
Kan. Court Rejects Valuation Based On Overturned Precedent
The Kansas Board of Tax Appeals incorrectly relied on overturned precedent when it lowered a Home Depot's property value by almost $2 million, the Kansas Appeals Court ruled.
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June 07, 2024
LIHTC Developer Asks 11th Circ. To Undo Investor Takeover
A developer told the Eleventh Circuit on Friday it is a victim of a scheme by investors using a lower court ruling to complete a takeover of two Tampa, Florida, senior housing complexes developed with federal low-income housing tax credits.
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June 07, 2024
Trump Can Bring Atty To Presentence Interview
A New York judge ruled Friday that Donald Trump can bring his attorney with him when he sits down with a New York City probation officer for a presentence interview, granting an unusual accommodation to the former president before he is sentenced for his criminal conviction next month.
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June 07, 2024
3rd Circ. Backs NJ In Pipeline Co.'s Business Tax Fight
The Third Circuit ruled Friday that New Jersey's partnership filing fee is a state affair that can't be challenged in federal court, dealing a blow to a pipeline company seeking to shed the cost because it does very little business in the state.
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June 07, 2024
6th Circ. Finds Ethical Lapses Justify Bar On Firm's Outreach
The Sixth Circuit said Thursday a Michigan federal judge shouldn't have faulted a law firm for attacking a proposed tax foreclosure class-action settlement in solicitation letters, but nevertheless upheld the judge's order barring contact with certain class members because of the firm's actual ethical lapses.
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June 07, 2024
Dentons Adds Pair Of Husch Blackwell Tax Attys
Two South Carolina tax attorneys have joined Dentons' corporate, tax and private client practice as partners after moving from Husch Blackwell LLP, the firm announced on Thursday.
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June 07, 2024
Fed. Circ. Panel Doubts Bid To Nix Actavis' $12M Deduction
A Federal Circuit panel seemed skeptical of the government's bid to overturn a decision allowing drugmaker Actavis to deduct $12 million it spent fending off lawsuits as it secured approval to sell generics, raising the question during oral arguments Friday whether the company was being uniquely targeted.
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June 07, 2024
Tax Discriminates Against Risky Assets, Dutch Court Says
The Netherlands must compensate investors for a tax on investment income that discriminates against riskier assets by using calculations of fictitious returns, the Dutch Supreme Court said.
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June 06, 2024
NRA Can't Undo $6.4M Misconduct Verdict In NY AG Case
A New York judge on Thursday rejected a request by the National Rifle Association and its longtime executives to set aside a jury's $6.4 million verdict that found they misspent charitable funds, saying Attorney General Letitia James provided sufficient evidence for the jurors to rule in her favor.
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June 06, 2024
Oil Cos. Stifle Bids For Tax Transparency, SEC Letters Show
At least three oil companies have stifled proposals initiated by the nonprofit Oxfam America for public country-by-country reporting of business activities, profits and taxes this year, according to letters from the U.S. Securities and Exchange Commission obtained by Law360.
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June 06, 2024
'Brothel' Manager Violated Bail After $5.7M Sting, Feds Say
A manager and bookkeeper facing federal charges connected to a COVID-19 grant and tax fraud scheme at a Connecticut strip club violated his bail conditions by showing up at the facility and "hanging out" with a potential witness, federal probation authorities have alleged.
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June 06, 2024
Ex-IRS Worker Indicted In $2M Exxon Credit Theft Scheme
A former Internal Revenue Service employee used his account management job at the agency to steal more than $2 million worth of tax credits from Exxon Mobil and pocket the money, according to a Utah federal grand jury indictment.
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June 06, 2024
Fox Rothschild Brings On Tax Pro From Atlanta Boutique
Fox Rothschild LLP has added an attorney in Atlanta from tax law boutique Wiggam Law to strengthen the firm's taxation and wealth planning department.
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June 06, 2024
Justices Affirm Taxing Of Estate On Insurance Payout
The U.S. Supreme Court affirmed on Thursday a decision denying a tax refund to the estate of an owner of a building materials company that used a payout from his $3.5 million life insurance policy to purchase his shares in the business.
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June 05, 2024
CohnReznick Scores Quick Exit In Tax Scheme Suit
A New York federal judge agreed to toss a housing partnership's suit accusing accounting firm CohnReznick LLP of professional negligence and fraud, finding that the district court doesn't have jurisdiction over the dispute.
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June 05, 2024
Nigeria Holding US Binance Exec Hostage, Lawmakers Say
The White House's hostage negotiator should begin seeking the release of a top executive at cryptocurrency exchange Binance whom the Nigerian government is holding personally liable for tax evasion charges against the company, the House Foreign Affairs Committee's chairman has said.
Expert Analysis
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What Large Language Models Mean For Document Review
Courts often subject parties using technology assisted review to greater scrutiny than parties conducting linear, manual document review, so parties using large language models for document review should expect even more attention, along with a corresponding need for quality control and validation, say attorneys at Sidley.
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Series
Participating In Living History Makes Me A Better Lawyer
My role as a baron in a living history group, and my work as volunteer corporate counsel for a book series fan association, has provided me several opportunities to practice in unexpected areas of law — opening doors to experiences that have nurtured invaluable personal and professional skills, says Matthew Parker at the Nebraska Department of Health and Human Services.
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Opinion
Private Equity Owners Can Remedy Law Firms' Agency Issues
Nonlawyer, private-equity ownership of law firms can benefit shareholders and others vulnerable to governance issues such as disparate interests, and can in turn help resolve agency problems, says Michael Di Gennaro at The Law Practice Exchange.
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How To Protect Atty-Client Privilege While Using Generative AI
When using generative artificial intelligence tools, attorneys should consider several safeguards to avoid breaches or complications in attorney-client privilege, say Antonious Sadek and Christopher Campbell at DLA Piper.
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Kentucky Tax Talk: Taking Up The Dormant Commerce Clause
Attorneys at Frost Brown examine whether the U.S. Supreme Court is likely to review Foresight Coal Sales v. Kent Chandler to consider whether a Kentucky utility rate law discriminates against interstate commerce, and how the decision may affect dormant commerce clause jurisprudence.
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How New Lawyers Can Leverage Feedback For Growth
Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.
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Circuit Rulings Confirm Ch. 11 Trustee Fee Refund Trend
Recent Ninth and Eleventh Circuit rulings that Chapter 11 debtors are entitled to refunds for unconstitutional bankruptcy trustee fees paid under the Bankruptcy Judgeship Act support a developing trend in debtors' favor, making it likely that courts considering the same question will follow suit, says Adam Herring at Nelson Mullins.
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The NIL Legislation Race: CAEFA And Ted Cruz's Draft Bill
Christina Stylianou and Gregg Clifton at Lewis Brisbois compare legislation pertaining to the name, image and likeness rights of college student-athletes, including the College Athlete Economic Freedom Act and Sen. Ted Cruz's draft bill that would restrict an athlete's eligibility to compete if an NIL agreement violates their university's student code of conduct.
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Twitter Legal Fees Suit Offers Crash Course In Billing Ethics
X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.
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ABA's Money-Laundering Resolution Is A Balancing Act
While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.
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Prevailing Wage Rules Complicate Inflation Act Tax Incentives
Nicole Elliott and Timothy Taylor at Holland & Knight discuss the intersection between tax and labor newly created by the Inflation Reduction Act, and focus on aspects of recent U.S. Department of Labor and U.S. Department of the Treasury rules that may catch tax-incentive seekers off guard.
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Law Firm Professional Development Steps To Thrive In AI Era
As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.
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Payroll Tax Evasion Notice Suggests FinCEN's New Focus
The Financial Crimes Enforcement Network’s recent notice advising U.S. financial institutions to report payroll tax evasion and workers' compensation schemes in the construction industry suggests a growing interest in tax enforcement and IRS collaboration, as well as increased scrutiny in the construction sector, say Andrew Weiner and Jay Nanavati at Kostelanetz.
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The Basics Of Being A Knowledge Management Attorney
Excerpt from Practical Guidance
Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.
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Challenging Standing In Antitrust Classes: The Uninjured
In virtually every antitrust class action, parties at the certification phase disagree about whether the proposed class includes uninjured members, but the goals of Rule 23 and judicial economy are best served by synthesizing two distinct approaches circuit courts take on this issue, say Michael Hamburger and Holly Tao at White & Case.