Tax

  • January 01, 2025

    The Top 5 High Court Cases To Watch This Spring

    The U.S. Supreme Court justices will return from the winter holidays to tackle major First Amendment questions and several administrative law disputes — all arising from the Fifth Circuit — that could further change how federal agencies promulgate rules and defend them.

  • January 01, 2025

    What Banking Attorneys Are Watching In The Courts In 2025

    Lawsuits pushing back on novel state-level consumer protection laws and a host of Biden-era Consumer Financial Protection Bureau regulatory actions are top of mind for financial services attorneys heading into the new year. Here, Law360 previews what's on tap. 

  • January 01, 2025

    5 Energy Transactional Trends To Watch In 2025

    A second Donald Trump presidency and a resulting shift in federal policy away from clean energy and toward fossil fuels will cloud the dealmaking environment for the energy industry, but attorneys believe the deal pace will remain brisk across the sector. Here are five transactional trends that are worth watching closely this year.

  • January 01, 2025

    Top Federal Tax Cases To Watch In 2025

    Over the next year, tax practitioners will be closely monitoring suits that challenge the IRS' use of the economic substance doctrine, take advantage of the U.S. Supreme Court's landmark decision curbing federal agencies' regulatory authority and dispute the government's handling of worker retention credits. Here, Law360 looks at key federal tax cases to follow in 2025.

  • January 01, 2025

    Trials To Watch In 2025

    The coming year will bring the first bellwether trials in the closely watched federal baby formula mass litigation, the first courtroom battle over a COVID-19 vaccine patent and six major retailers' case against Visa and Mastercard over card swipe fees.

  • January 01, 2025

    Illinois Cases To Watch In 2025

    Jurors will decide the fate of one of Illinois' most powerful politicians after a monthslong criminal racketeering trial and appellate courts could settle the debate over the retroactivity of damage limits to the state's much-litigated biometric privacy law, in just a few of the Illinois cases to watch in 2025.

  • January 01, 2025

    Connecticut Cases To Watch In 2025: Ethics, Mergers & Actors

    A suit over McCarter & English LLP's municipal loan advice and a Yale-owned heath network's legal battle over a beleaguered acquisition deal are just two multimillion-dollar cases that will keep Connecticut courts busy next year. 

  • December 23, 2024

    Treasury Proposes Contingent Fee Regs For Tax Pros

    Tax professionals who practice before the IRS and charge clients contingent fees in connection with preparing returns will be subject to sanctions for disreputable conduct under rules proposed by the U.S. Treasury Department that also require practitioners to be competent in new technology.

  • December 23, 2024

    House Report Says Gaetz Paid For Sex, Accepted Gifts

    Former U.S. Rep. Matt Gaetz regularly paid women for sex, including with one 17-year-old girl, used illicit drugs and accepted a trip to the Bahamas in excess of permissible gift amounts, according to a report released Monday morning by the U.S. House of Representatives Committee on Ethics.

  • December 20, 2024

    Banks, Not Credit Cos., Can Duck New Ill. Fee Law For Now

    An Illinois federal judge ruled Friday that credit card companies like Visa and Mastercard must comply with Illinois' landmark law restricting certain credit card fees; however, she also held that national banks and federal savings associations aren't subject to the law, at least for now.

  • December 20, 2024

    SEC Fines Entergy $12M Over Alleged Accounting Errors

    The U.S. Securities and Exchange Commission on Friday announced a $12 million settlement with Entergy Corp. over claims that the company failed to properly account for what may have been hundreds of millions of dollars in unusable or surplus equipment.

  • December 20, 2024

    Psychedelics Law Reformers Hit Multiple Setbacks In 2024

    In 2024, advocates, physicians and researchers attempted to broaden lawful access to federally illegal psychedelic drugs through a variety of avenues — the new drug approval process, litigation and a ballot initiative — with the upshot that the law remains largely unchanged and, for the most part, still restricts legal use and possession of these substances.

  • December 20, 2024

    Utah Judge Pauses Challenge To Corporate Transparency Act

    A Utah federal judge has stayed a case seeking to block the Corporate Transparency Act to see how the new administration of President-elect Donald Trump handles the law after a kindred case in Texas won a preliminary injunction on it.

  • December 20, 2024

    NJ Atty Says RICO Case Only Alleges He Acted As Lawyer

    New Jersey attorney William Tambussi has slammed the Garden State's response to his bid to toss charges against him in the state's sweeping indictment against power broker George E. Norcross III, claiming it does not show how his routine legal work constitutes a crime.

  • December 20, 2024

    Digital Taxes In Flux Amid Renewed US Tariff Threats

    Governments around the world revisited their approaches to digital services taxes this year by adopting broader versions, raising rates, carving out industries and analyzing the impacts of adopting unilateral measures as threats of U.S. tariffs materialize once again. Here, Law360 looks at how countries around the world are considering, adopting or changing their DSTs.

  • December 20, 2024

    Top North Carolina Cases Of 2024: Bias, Fraud And False Ads

    North Carolina saw a host of heavy-hitting civil trials in 2024, from back-to-back multimillion-dollar jury verdicts in suits over false advertising and employment discrimination, to a substantial bench ruling in a much-watched bias suit against the federal judiciary.

  • December 19, 2024

    Outgoing Wash. Gov. Proposes Wealth Tax In Budget

    Washington state would levy a 1% tax on residents with worldwide wealth of more than $100 million and increase taxes on businesses under a budget proposal from outgoing Gov. Jay Inslee.

  • December 19, 2024

    Biz Owners Ask 11th Circ. To Revive Tax Penalty Challenge

    Owners of an electronic parts company whose reprieve from a $345,000 tax penalty was revoked by the U.S. Tax Court in light of an Eleventh Circuit ruling have asked the appeals court to reconsider its stance and to determine that Tax Court judges have unconstitutional job protections.

  • December 19, 2024

    Denmark Says $500M Recovered In Dividend Tax Fraud Suits

    Denmark's tax administration has recovered a total of 3.6 billion Danish kroner ($500 million) in money lost to suspected dividend tax refund fraud after entering settlements of civil cases in several countries in 2024, Denmark's tax minister announced.

  • December 19, 2024

    New Jersey Power Broker Says RICO Case Isn't Fit For Jury

    Defendants dubbed the "Norcross Enterprise" are fighting back against New Jersey Attorney General Matthew Platkin's assertion that their bid to toss a criminal indictment accusing them of engaging in a sprawling racketeering scheme is out of place, claiming the state misunderstands the roles of judge and jury.

  • December 19, 2024

    5th Circ. Urged To Deny Tax Break For Doc's Captive Insurance

    A physician who owns a network of urgent care clinics was correctly denied tax deductions along with his wife for over $1 million in premiums they paid to insurance companies they owned, the government told the Fifth Circuit, saying the captive arrangements didn't qualify as insurance for tax purposes.

  • December 18, 2024

    Morrison Foerster Cites Tariffs As Key M&A Variable For 2025

    International law firm Morrison Foerster LLP is among those citing President-elect Donald Trump's tariff plans as a key wild card that could affect mergers and acquisitions deal flow in 2025, a Wednesday report from the firm shows. 

  • December 18, 2024

    Tax Shelter Defendant Charged In Investment Ploy

    Federal prosecutors have accused two men, one of whom is already facing charges of promoting tax shelters, with wire fraud and money laundering in connection with their operation of a multimillion-dollar fraudulent investment fund, according to an indictment unsealed Wednesday in Colorado federal court.

  • December 18, 2024

    Dutch Bank Exec Gave IRS Good Tax Tip, DC Circ. Judge Says

    D.C. Circuit judges grappled Wednesday with the denial of a whistleblower award to a late Dutch bank executive who tipped off the IRS to tax reporting schemes, with one judge saying during oral arguments that the executive appeared to have handed the agency "gift-wrapped" evidence of wrongdoing.

  • December 18, 2024

    EU Court Rejects Latest Challenge To Portugal's Tax Clawback

    A European court rejected a Brazilian-based company's challenge Wednesday to a European Commission ruling that Portugal must claw back tax breaks provided to companies with no local economic activity because that ran counter to commission-approved policies.

Expert Analysis

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • Bankruptcy Courts' Role In Shaping Crypto's Legal Framework

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    Massive financial and criminal liability has led to the recent collapse of major cryptocurrency companies and put bankruptcy courts in the spotlight, underscoring the urgent need for a comprehensive regulatory framework, say Tara Pakrouh and Eric Monzo at Morris James.

  • Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law

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    A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.

  • Opinion

    $175M Bond Refiled By Trump Is Still Substantively Flawed

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    The corrected $175 million bond posted by former President Donald Trump on Thursday to stave off enforcement of the New York attorney general's fraud judgment against him remains substantively and procedurally flawed, as well as inadequately secured, says Adam Pollock of Pollock Cohen.

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

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    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.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    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.

  • How IRA Unlocks Green Energy Investments For Tribes

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    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.

  • Series

    Serving As A Sheriff's Deputy Made Me A Better Lawyer

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    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.

  • Fears About The End Of Chevron Deference Are Overblown

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    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.

  • Former Minn. Chief Justice Instructs On Writing Better Briefs

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    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.

  • What To Know About IRS' New Jet Use Audit Campaign

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    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.

  • Stay Interviews Are Key To Retaining Legal Talent

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    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.

  • Opinion

    Neb. Justices Should Weigh IRC Terms In Dividend Tax Case

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    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.

  • Series

    Spray Painting Makes Me A Better Lawyer

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    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.

  • A Legal Playbook For Stadium Construction Agreements

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    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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