Tax

  • June 25, 2024

    DC Council OKs Tax Hikes On High-End Property, Payroll

    Washington, D.C., would impose a special tax rate on high-end residential properties, boost the premium for the district's paid leave program and make other tax and spending changes under legislation passed Tuesday by the district council.

  • June 25, 2024

    Chancery OKs $71M Premier Deal, $14M Four-Firm Fee

    Shareholder attorneys led by Friedlander & Gorris who negotiated a $71 million settlement to end derivative Delaware Chancery Court litigation with healthcare-purchasing giant Premier Inc. will get $14 million for their efforts, the total fee award they sought.

  • June 25, 2024

    Ariz. Court Slashes Value Of Low-Income Housing Complex

    An Arizona housing complex subject to restrictions related to federal low-income housing tax credits was overvalued by a local assessor, the Arizona Tax Court said, slashing the valuation of the property by about three-fourths.

  • June 25, 2024

    IRS Apologizes To Hedge Fund Founder Over Leaked Tax Data

    The IRS issued an extraordinary public apology Tuesday to hedge fund founder and billionaire Ken Griffin for the leak of his and others' tax information to the media by a former contractor who admitted to stealing the returns of thousands of wealthy individuals, including former President Donald Trump.

  • June 25, 2024

    Ore. Tax Court Affirms $13M Valuation For Lowe's Retail Outlet

    The Oregon Tax Court affirmed the $13.4 million tax valuation of a Lowe's home improvement warehouse, rejecting the company's argument that the property should be valued as if it did not have a lease in place.

  • June 25, 2024

    NY Judge Partially Lifts Trump Gag Order Ahead Of Sentence

    The Manhattan judge overseeing former President Donald Trump's hush-money case on Tuesday vacated key parts of a gag order intended to shield jurors and witnesses from his verbal attacks, although an order protecting the jurors' identities remains in place.

  • June 24, 2024

    Billionaire Drops Case Against IRS Over Tax Info Leak

    Billionaire hedge fund founder Ken Griffin dropped his case Monday seeking to hold the IRS accountable for the leak of his tax return information in a data breach that affected thousands of wealthy and powerful taxpayers, including former President Donald Trump.

  • June 24, 2024

    Ex-Chicago Alderman Gets Two Years For Boosting Law Firm

    An Illinois federal judge on Monday sentenced former Chicago Alderman Ed Burke to two years in prison and fined him $2 million for using his official position to steer tax business to his personal law firm, closing what prosecutors called "another sordid chapter" in the city's history of public corruption.

  • June 24, 2024

    Tax Preparers Win Recommendation For Class Cert. In OT Suit

    A group of tax preparers have met the requirements to form a class in a suit accusing their former employer of failing to pay overtime, a New York federal magistrate judge said, rejecting the employer's argument that their request for class status came too late.

  • June 24, 2024

    IRS Finalizes Limits To Partnership Conservation Easements

    The Internal Revenue Service finalized rules Monday that curb the conservation easement tax deduction claimed by certain partnerships, with some changes to last year's proposed version, such as limiting the opportunity for entities to adjust their tax returns to avoid the new restrictions.

  • June 24, 2024

    Julie Chrisley To Be Resentenced, But Convictions Stand

    The Eleventh Circuit on Friday upheld the tax evasion and fraud convictions of former reality TV stars Todd and Julie Chrisley, but ordered a Georgia federal judge to resentence Julie Chrisley after finding that the judge failed to fully explore her discrete role in the $36 million scheme.

  • June 24, 2024

    Catching Up With Delaware's Chancery Court

    Amendments to Delaware's General Corporation Law topped the news out of the Court of Chancery again last week, as the hotly contested measure sailed through the state's legislature. Tesla and its shareholders continued their tug-of-war over attorney fees for Chancery litigation about Elon Musk's pay package, and new cases were filed involving biotechs, car rental companies, workout platforms, telecom towers, and a cargo ship fire in Brazil.

  • June 24, 2024

    German Banker's Cum-Ex Trial Dropped Due To Health

    The former chairman of M.M. Warburg & Co. KGaA will not face trial for alleged dividend-tax evasion linked to cum-ex transactions spanning from 2006 to 2019 after a German court halted the trial due to his health, according to a Monday court statement.

  • June 24, 2024

    NM Sued Over Sustainable Building Credit Award Process

    A New Mexico apartment complex alleges that the state violated its due process rights after it was denied sustainable building tax credits for most of its units, according to a complaint filed in federal court.

  • June 24, 2024

    Justices To Review If Ch. 7 Trustee Can Recover Tax Payments

    The U.S. Supreme Court said Monday it would review a Tenth Circuit decision that found that the Chapter 7 bankruptcy trustee of a defunct Utah company could recover $145,000 in tax payments from the IRS.

  • June 21, 2024

    Manhattan DA Seeks To Retain Trump Gag Order, Amid Threats

    The Manhattan District Attorney's Office urged a New York state judge Friday to leave in place most restrictions of the gag order preventing Donald Trump from speaking publicly about witnesses, jurors and others tied to his criminal trial, citing a barrage of threats from his supporters in recent months — including "actionable" death threats before and after the verdict.

  • June 21, 2024

    Fed. Circ. Backs Subsidy Duties For Canadian Wind Towers

    A Canadian wind tower manufacturer can't get a break on countervailing duties despite being upfront about errors in its sales data, with the Federal Circuit ruling Friday that the errors raise the possibility of additional mistakes.

  • June 21, 2024

    Ohio House Bill Would Tax Car Condos As Residential Parcels

    Ohio would classify car condominiums as residential property for property tax purposes under a bill introduced in the state House of Representatives.

  • June 21, 2024

    Ayahuasca Church Is Not Tax-Exempt, DC Circ. Affirms

    An Iowa church that used a psychedelic drug in its rites was correctly denied tax-exempt status, the D.C. Circuit affirmed Friday, saying the church's main purpose is using a federally illegal drug for which it lacked approval for religious use.

  • June 21, 2024

    Ex-Chicago Alderman Burke Can't Delay Sentencing

    Former Chicago Alderman Ed Burke can't postpone his Monday sentencing on charges of racketeering, extortion and bribery to await a U.S. Supreme Court ruling on the scope of federal bribery law, an Illinois federal judge ruled Friday, saying that decision will have "little or no impact" on Burke's fate.

  • June 21, 2024

    Holland & Knight Hires Kirkland & Ellis Partner In Houston

    Holland & Knight LLP has hired a former Kirkland & Ellis LLP partner in Texas, who focuses his practice on income tax matters and the tax aspects of cross-border and complex transactions, the firm announced Thursday.

  • June 21, 2024

    Ex-Mass. Pol Hit With New Charges In COVID Fraud Case

    A former Massachusetts state senator already accused of pandemic-related fraud has been charged alongside his sister with attempting to cover up a scheme to make him eligible for unemployment benefits, the U.S. attorney's office announced Friday.

  • June 21, 2024

    Taxation With Representation: Travers Smith, Potamitis Vekris

    In this week's Taxation With Representation, RSK Group Ltd. gets a £500 million ($632 million) investment, Boston Scientific Corp. acquires Silk Road Medical Inc., Masdar takes a part of Terna Energy SA, and Tate & Lyle PLC buys CP Kelco from JM Huber Corp.

  • June 20, 2024

    Trump Calls For Engoron's Recusal In Civil Fraud Case

    Former President Donald Trump and other defendants fighting a $465 million civil fraud judgment called on New York Supreme Court Justice Arthur Engoron to recuse himself Thursday in light of a once-suspended real estate attorney's recent judicial misconduct claims, which have since sparked a judicial investigation.

  • June 20, 2024

    Calif. High Court Strikes Anti-Tax Measure From Nov. Ballot

    A ballot measure that would make it more difficult to raise taxes in California would revise the state constitution and cannot be enacted by citizen initiative, the state's highest court held Thursday in an opinion that ordered the measure struck from the ballot.

Expert Analysis

  • Unpacking The Bill To Extend TCJA's Biz-Friendly Tax Breaks

    Author Photo

    Attorneys at Skadden examine how a bipartisan bill currently being considered by the U.S. Senate to save the Tax Cuts and Jobs Act's tax breaks for research and development costs, and other expiring business-friendly provisions, would affect taxpayers.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

    Author Photo

    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • Deciding What Comes At The End Of WTO's Digital Tariff Ban

    Author Photo

    Companies that feel empowered by the World Trade Organization’s recent two-year extension of the ban on e-commerce tariffs should pay attention to current negotiations over what comes after the moratorium expires, as these agreements will define standards in international e-commerce for years to come, say Jan Walter, Hannes Sigurgeirsson and Kulsum Gulamhusein at Akin Gump.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

    Author Photo

    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • Consider 2 Alternative Exit Plans In RE Distress Scenarios

    Author Photo

    In the face of an impending wave of foreclosures, lenders and borrowers alike should consider two exit strategies — deed-in-lieu of foreclosure and consent foreclosure — that can mitigate potential costs and diminution in property value that could be incurred during a lengthy proceeding, say attorneys at BCLP.

  • Tips For Balanced Board Oversight After A Cyberincident

    Author Photo

    The U.S. Securities and Exchange Commission's cybersecurity disclosure rules, as well as recent regulatory enforcement actions bringing board governance under scrutiny, continue to push boards toward active engagement in relation to their cyber-oversight role, despite it being unclear what a board's level of involvement should be, say attorneys at Alston & Bird.

  • Opinion

    SC's Courts Have It Wrong On Amazon Marketplace Sales Tax

    Author Photo

    The South Carolina Supreme Court should step in and correct the misguided change in tax law effectuated by lower court rulings that found Amazon owes state sales tax for marketplace sales made prior to the U.S. Supreme Court’s Wayfair v. South Dakota decision in 2018, says Hayes Holderness at the University of Richmond.

  • IRS Sings New Tune: Whistleblower Form Update Is Welcome

    Author Photo

    In a significant reform at the Internal Revenue Service's Whistleblower Office, the recently introduced revisions to the Form 211 whistleblower award application use new technology and a more intuitive approach to streamline the process of reporting allegations of tax fraud committed by wealthy individuals and companies, says Benjamin Calitri at Kohn Kohn.

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

    Author Photo

    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

  • This Earth Day, Consider How Your Firm Can Go Greener

    Author Photo

    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • Energy Community Tax Credit Boost Will Benefit Wind Sector

    Author Photo

    Recent Internal Revenue Service guidance broadening tax credit eligibility to more parts of offshore wind facilities in so-called energy communities is a win for the industry, which stands to see more projects qualify for a particularly valuable bonus in the investment tax credit context due to the capital-intensive nature of offshore wind projects, say attorneys at Troutman Pepper.

  • Weisselberg's Perjury At Trial Spotlights Atty Ethics Issues

    Author Photo

    Former Trump Organization executive Allen Weisselberg’s recent guilty plea for perjury in the New York attorney general's civil fraud trial should serve as a reminder to attorneys of their ethical duties when they know a client has lied or plans to lie in court, and the potential penalties for not fulfilling those obligations, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • Practicing Law With Parkinson's Disease

    Author Photo

    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Series

    Playing Hockey Makes Me A Better Lawyer

    Author Photo

    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • Opinion

    Why Supreme Court Should Allow Repatriation Tax To Stand

    If the U.S. Supreme Court doesn't reject the taxpayers' misguided claims in Moore v. U.S. that the mandatory repatriation tax is unconstitutional, it could wreak havoc on our system of taxation and result in a catastrophic loss of revenue for the government, say Christina Mason and Theresa Balducci at Herrick Feinstein.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Tax archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!