Tax

March 11, 2025
Business Owner Denies Evading Taxes In Sports Betting Ring

The owner of an insurance salvage company denied accusations in a California federal court that he evaded taxes in connection with a multimillion-dollar illegal sports betting ring, according to the U.S. Department of Justice.
March 11, 2025
Utah Lawmakers OK Min. Tax Rate Consensus Certification

Utah would require a minimum property tax rate imposed by school districts to be certified by the state's tax commission, the governor's Office of Planning and Budget and the state Legislature's Office of the Legislative Fiscal Analyst under a bill approved by state lawmakers and headed to the governor.
March 10, 2025
Alsup Refuses To Vacate Hearing Into OPM Mass Firings

U.S. District Judge William Alsup on Monday denied the Trump administration's request to vacate an upcoming evidentiary hearing into the U.S. Office of Personnel Management's mass firings of probationary federal employees, and required OPM director Charles Ezell to appear in person or else be deposed.
March 10, 2025
Latham-Led Physical Therapy Startup Hinge Health Files IPO

Artificial intelligence-focused physical therapy startup Hinge Health Inc. on Monday filed plans for an initial public offering, represented by Latham & Watkins LLP and underwriters counsel Davis Polk & Wardwell LLP, joining a growing number of IPO prospects.
March 10, 2025
Tariff Shifts Creating Compliance Chaos For Energy Cos.

The unpredictability of President Donald Trump's tariff maneuvers is challenging energy companies' ability to comply with fluctuating mandates and making tariff violations more likely.
March 10, 2025
Ariz. Power Co. Asks Justices To Review Tax On Tribal Plant

An energy company asked the U.S. Supreme Court to review Arizona court decisions that said a power plant it owns on tribal land is subject to property taxes, arguing that privately owned improvements located on Native American reservations are exempt from state and local taxes.
March 10, 2025
Ex-Credit Suisse Client Pleads Guilty To Hiding $90M

A Colombian-American businesswoman and former Credit Suisse client pled guilty Monday in Florida federal court to conspiring with family members to hide more than $90 million in assets from the IRS through a series of foreign bank accounts.
March 10, 2025
Feds Sue FDIC For $1.9M For First Republic Tax Bill

The U.S. government sued the Federal Deposit Insurance Corp. in D.C. federal court as receiver for the failed First Republic Bank, alleging the bank understated its withholding tax for U.S.-sourced income of foreigners and now owes almost $2 million to the federal government.
March 10, 2025
Treasury's CTA Halt Doesn't Justify Block, Feds Tell 5th Circ.

The U.S. Treasury Department halting enforcement of the Corporate Transparency Act on domestic entities doesn't add justification to a nationwide block on the law because it's a valid exercise of Congress' powers to regulate commerce, taxes, foreign affairs and national security, the U.S. government told the Fifth Circuit.
March 10, 2025
NJ Man Gets 18 Months In $50M Off-Road Tire Ponzi Scheme

A New Jersey man who pled guilty to wire fraud for his role in a $50 million Ponzi scheme in which he took investor money on the promise he could buy and resell off-the-road tires at a substantial profit has been sentenced to 18 months in prison.
March 10, 2025
Colo. Proposal Seeks Taxpayer Votes On New State Fees

Colorado voters could decide whether to require future votes to approve new state fees and other charges to fund major state enterprises under a pair of proposed initiatives with titles approved by a state board.
March 10, 2025
Court Affirms FBAR Penalties Against Estate, Not Widow

The estate of a man who failed to report his Swiss bank accounts is liable for tax penalties of at least $2 million, an Idaho federal court determined, finding the man's widow off the hook.
March 10, 2025
Tax Pro Rejoins Norton Rose From Reed Smith In Houston

Norton Rose Fulbright announced Monday that it has bulked up in the face of increased demand in the corporate transactions space with the return of a tax partner in Houston who came aboard from Reed Smith LLP.
March 10, 2025
Colo. Court Affirms Property Tax Valuation For Partial Build

A partly built commercial building in Colorado was properly valued by a county board of equalization, as the state doesn't have an exemption for partial builds, a state appeals court ruled.
March 07, 2025
Grand Rapids Moves Social Equity Fee Dispute To Fed. Court

The city of Grand Rapids, Michigan, is looking to push into federal court a state lawsuit filed by cannabis companies looking to upend the fees, fines and residency requirements of the municipality's social equity program, arguing Friday that their claims all touch on federal issues.
March 07, 2025
SD Lawmakers Request Study Of Tax Relief For Homeowners

South Dakota instructed its Legislative Research Council to review the state's property tax policies and identify ways to provide property tax relief to homeowners under a concurrent resolution approved by state lawmakers.
March 07, 2025
Utah Court Affirms Walmart's Collective $52M Property Value

A trio of Utah-based Walmart retail properties were correctly assessed at a collective $52 million for property tax, a Utah appeals court said, finding that a lower court didn't make any errors when valuing the three properties.
March 07, 2025
Mauritius Government Lawyer Joins CMS Affiliate

CMS said an attorney with more than a decade of experience as a Mauritius government lawyer has joined CMS Prism, the firm's Mauritian affiliate.
March 07, 2025
Peru Broke Trade Deal, Scotiabank Tells Arbitrators

Scotiabank asked the World Bank's international arbitration institution to consider a new argument in a value-added tax dispute with the Peruvian government, saying Peru's treatment of the bank violated a trade agreement with Canada.
March 07, 2025
Taxation With Representation: Kirkland, Wachtell, Skadden

In this week's Taxation With Representation, Walgreens Boots Alliance goes private via a deal with Sycamore Partners, Honeywell buys Sundyne from Warburg Pincus, and Jazz Pharmaceuticals acquires Chimerix.
March 07, 2025
DC Judge Declines To Block DOGE From Treasury Systems

A D.C. federal judge on Friday declined to wall off access to the federal government's payment systems from employees of the so-called Department of Government Efficiency during a lawsuit brought by retirees and union groups, determining the alleged privacy risks were not enough to warrant the court's intervention.
March 07, 2025
Immigrant Rights Groups Fight IRS Data Sharing With DHS

Two Illinois-based immigrant and Latino rights groups filed a suit Friday seeking to block the Internal Revenue Service from disclosing the names and addresses of taxpayers with taxpayer identification numbers to the U.S. Department of Homeland Security and other agencies with the purpose of enforcing immigration laws.
March 07, 2025
Jailed Developer Dropped From RICO Foreclosure Suit

A Michigan federal judge dropped a developer from a suit alleging a racketeering scheme stripped homeowners of their foreclosed homes' surplus equity, finding the harm they allege is not tied closely enough to a bribery scheme the developer later pled guilty to.
March 07, 2025
Minn. Bill Seeks To Subtract OT, Tips, Bonuses From Income

Minnesota would allow taxpayers to subtract the amount of overtime pay, tips and bonuses earned from their gross income under a bill introduced in the state Senate.
March 07, 2025
Minn. Bills Seek Sales Tax Break For Home Construction

Construction materials for single-family and multifamily homes for first-time homebuyers would be exempt from some Minnesota sales and use taxes under legislation introduced in the state Senate.

Editor's Picks

Blockchain Tech May Present New Transfer Pricing Challenges

Companies that develop blockchain systems to digitally record transactions may face difficulties when valuing intangibles tied to the decentralized and highly varied technology, creating novel transfer pricing issues for multinational corporations that create their own blockchain networks.
Trump-Era Tariff Angst Hasn't Gone Away Under Biden

The early days of the Biden administration have been relatively quiet on the trade front, but importers have nevertheless found themselves in the throes of a familiar battle: pleading with the government to hold off on tariffs in a heated trade dispute.
3 Major Implications For States In Biden's Tax Plans

President Joe Biden's sweeping tax changes proposed to pay for trillions in infrastructure spending would significantly alter the way the federal government taxes corporations, leaving states, for the second time in four years, to decide if and how to conform. Here Law360 presents three considerations for states in the president's tax proposals.

Expert Analysis

Opinion

State FCAs Should Cover Local Fund Misuse, State Tax Fraud

New Jersey and other states with similar False Claims Acts should amend them to cover misappropriated municipal funding, and state and local tax fraud, which would encourage more whistleblowers to come forward and increase their recoveries, says Kenneth Levine at Stone & Magnanini.
7 Tips For Associates To Thrive In Hybrid Work Environments

Excerpt from Practical Guidance

As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.
White Collar Archetypes: Wrangling The Shape-Shifter

In white collar criminal trials, certain pieces of evidence can shape-shift in the jury’s eyes, presenting both challenges and opportunities for defense counsel, says Jack Sharman at Lightfoot Franklin.
Series

Playing Beach Volleyball Makes Me A Better Lawyer

My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.
Opinion

IRS Should Revise Overbroad Microcaptive Regs

Rather than seeking to curtail use of congressionally sanctioned microcaptive insurance programs by imposing burdensome disclosure obligations, the Internal Revenue Service should revisit its recently finalized regulations and implement rules tailored to address areas of specific abuse, say attorneys at Zerbe Miller.
Terraform Case May Be Bellwether For Crypto Enforcement

The prosecution of crypto company Terraform Labs and its CEO, Do Kwon, offers a unique test of the line between lawful and unlawful conduct in digital transactions, and the Trump administration’s posture toward the case will provide clues about its cryptocurrency enforcement agenda in the years to come, say attorneys at Brooks Pierce.
What's Next For Russia Sanctions After Task Force Disbanded

Attorney General Pam Bondi’s recent disbanding of Task Force KleptoCapture, which was initially aimed at seizing Russian oligarchs’ funds and assets, is unlikely to mean the end of Russia sanctions enforcement and other economic countermeasures, as the architecture for criminal enforcement remains in place, say attorneys at BakerHostetler.
How Law Firms Can Counteract The Loneliness Epidemic

The legal industry is facing an urgent epidemic of loneliness, affecting lawyer well-being, productivity, retention and profitability, and law firm leaders should take concrete steps to encourage the development of genuine workplace connections, says Michelle Gomez at Littler and Gwen Mellor Romans at Herald Talent.
Texas Fraud Case Shows Dangers Of Faulty Crypto Reporting

The recent sentencing of a man who failed to properly report capital gains from bitcoin sales is a reminder that special attention must be given to the IRS' reporting requirements in order to stay out of the government's crosshairs, says Saverio Romeo at Fox Rothschild.
Potential Impacts Of IRS' $1M Affiliate Pay Deduction Cap

If finalized, a recent Internal Revenue Service proposal expanding Section 162(m) of the Internal Revenue Code to include the highly compensated employees of affiliates would make tracking which executives may be subject to the limit from year to year far more complex, say attorneys at Debevoise.
5 Keys To Building Stronger Attorney-Client Relationships

Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.
Series

Racing Corvettes Makes Me A Better Lawyer

The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
Opinion

Attorneys Must Act Now To Protect Judicial Independence

Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.
Rethinking 'No Comment' For Clients Facing Public Crises

“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
Reading The Tea Leaves On Mexico, Canada And China Tariffs

It's still unclear whether the delay in the imposition of U.S. tariffs on Canadian and Mexican imports will result in negotiated resolutions or a full-on trade war, but the outcome may hinge on continuing negotiations and the Trump administration's possible plans for tariff revenues, say attorneys at Eversheds Sutherland.