Tax

  • July 01, 2024

    Trump Seeks To Vacate NY Verdict, Citing Immunity Decision

    Former President Donald Trump's attorneys asked the New York state judge overseeing his hush money case to delay sentencing and consider setting aside the jury's guilty verdict in the wake of the U.S. Supreme Court's ruling on presidential immunity Monday.

  • July 01, 2024

    TurboTax User Alleges Intuit Failed To Prevent Data Breaches

    A former TurboTax customer hit Intuit Inc. with a proposed privacy class action in California federal court on Monday, accusing the maker of TurboTax and Credit Karma software of not doing enough to prevent an alleged data breach earlier this year that allegedly exposed thousands of users' personal identifying information.

  • July 01, 2024

    GoDaddy Shareholders Balk At Further Chancery Delay

    A special litigation committee that GoDaddy Inc. created in September 2023 in response to shareholder litigation over an $850 million tax asset buyout has 30 days to convince a Delaware Chancery Court judge that it is conducting a good-faith investigation and cooperating with the suing shareholders.

  • July 01, 2024

    Could Trump Get Jail In NY? We Dug Into 10 Years Of Data

    Donald Trump could well be sentenced to a prison term after a New York state jury found him guilty on 34 felony counts, according to criminal justice data showing that many New York defendants convicted of those crimes face incarceration.

  • July 01, 2024

    IRS Faces Rulemaking Pressure Following Chevron's Demise

    The Internal Revenue Service will likely face more pressure to develop tax regulations that are more firmly grounded in the law and tailored to ensure certainty for individuals, businesses and other organizations after the U.S. Supreme Court's landmark decision to overturn the decades-old Chevron doctrine.

  • July 01, 2024

    Feds Push To Keep IRS Agents Out Of Hunter Biden Tax Case

    Two Internal Revenue Service whistleblowers who Hunter Biden said wrongfully disclosed his confidential tax information should not be allowed to intervene in his suit against the U.S. government, the government told a D.C. federal court Monday.

  • July 01, 2024

    Pa. Man Gets 12 Years For $2M COVID-19 Funds Fraud

    A Pennsylvania man was sentenced to approximately 12 years in prison following his convictions for bank fraud, aggravated identity theft and unlawful monetary transactions related to theft of federal COVID-19 pandemic relief funds, according to the U.S. Attorney's Office for the Middle District of Pennsylvania.

  • July 01, 2024

    Womble Bond Adds Int'l Tax Partner In Houston Office

    Womble Bond Dickinson has added a partner to its corporate and securities group in Houston who will focus on tax law and cross-border transactions, the firm announced.

  • July 01, 2024

    Judge Acquits Firm Co-Founder, 27 Others Over Panama Papers

    When authorities raided the now defunct Panamanian law firm Mossack Fonseca as part of their investigation into the international money laundering case known as the Panama Papers, they didn't follow the chain of custody for evidence they seized, so 28 people accused in the conspiracy must be acquitted, a Panamanian judge has ruled.

  • July 01, 2024

    Nelson Mullins Adds 9-Attorney Tax Team In Houston

    Nelson Mullins Riley & Scarborough LLP announced Monday that five partners and four other tax attorneys have joined its new Houston office from Chamberlain Hrdlicka White Williams & Aughtry, including a former Texas Supreme Court justice.

  • July 01, 2024

    Catching Up With Delaware's Chancery Court

    Two multimillion-dollar settlement approvals, a $25 million fee-shifting demand, and a biotech merger spoiled by murder: This was just the beginning of the drama last week in the nation's preeminent court of equity. Shareholders in satellite companies filed new cases, a cannabis company headed toward trial, and there were new developments in old disputes involving Tesla and Truth Social.

  • July 01, 2024

    Longtime IRS Trial Atty Joins Jones Day In NY

    An attorney who spent his entire career at the IRS has moved to private practice at Jones Day, the firm said on Monday.

  • July 01, 2024

    Supreme Court Widens Window To Challenge Federal Regs

    Legal challenges to federal regulations can be brought outside the normal statute of limitations if someone isn't adversely affected until after the six-year window of time to file suit, the U.S. Supreme Court ruled Monday.

  • July 01, 2024

    EU Bans Giving Tax Consulting Services To Belarus

    The European Union has introduced a ban on providing tax consulting and many other professional services to Belarus in a wide-ranging package of measures largely aimed at preventing the circumvention of the bloc's sanctions against Russia, a statement said.

  • June 28, 2024

    Chevron's End Is Just The Start For Energized Agency Foes

    By knocking down a powerful precedent that has towered over administrative law for 40 years, the U.S. Supreme Court's right wing Friday gave a crowning achievement to anti-agency attorneys. But for those attorneys, the achievement is merely a means to an end, and experts expect a litigation blitzkrieg to materialize quickly in the aftermath.

  • June 28, 2024

    In Chevron Case, Justices Trade One Unknown For Another

    The U.S. Supreme Court's decision to overrule a decades-old judicial deference doctrine may cause the "eternal fog of uncertainty" surrounding federal agency actions to dissipate and level the playing field in challenges of government policies, but lawyers warn it raises new questions over what rules courts must follow and how judges will implement them.

  • June 28, 2024

    Judge Rejects Collusion Claim In Contested Foreclosure Deal

    A Michigan federal judge approved on Thursday a class settlement between 43 Michigan counties and people who lost their homes in tax foreclosure, putting to bed accusations of collusion between the settling lawyers.

  • June 28, 2024

    IRS Finalizes Broker Rules For Digital Asset Sales

    Brokers of digital assets such as cryptocurrency and non-fungible tokens will face tax reporting requirements for the first time similar to those for brokers of securities and other financial instruments under final regulations issued Friday by the Internal Revenue Service.

  • June 28, 2024

    NY Law Firm Botched Gas Co. Sale, Ex-Client Says

    Albany, New York-based Whiteman Osterman & Hanna LLP is facing a lawsuit in New York federal court alleging it failed to properly structure the sale of a gas company and caused its owner to incur an avoidable tax liability.

  • June 28, 2024

    IRS Reminds Marijuana Businesses They Can't Get Tax Breaks

    The Internal Revenue Service sought to remind taxpayers Friday that businesses selling marijuana, even in states where it's legal, are not entitled to federal tax deductions, saying some taxpayers are filing invalid claims for refunds through amended returns.

  • June 28, 2024

    Mass. Senate OKs $5B Housing Bill Without Local-Option Tax

    Massachusetts would authorize about $5 billion in bonding authority to promote housing under legislation passed by the state Senate that leaves out a local-option real estate transfer fee sought by Democratic Gov. Maura Healey.

  • June 28, 2024

    Chevron Ruling No Sea Change For Tax Court, Judge Says

    The U.S. Tax Court will continue to rely on the IRS and Treasury's expertise in the tax code following the U.S. Supreme Court's landmark decision to overturn the 40-year-old Chevron doctrine that directed courts to defer to federal agencies' interpretations of ambiguous law, a judge said Friday.

  • June 28, 2024

    Taxation With Representation: Kirkland, Vinson, Skadden

    In this week's Taxation with Representation, Aareal Bank AG and Advent International sell a property management and maintenance software company, Webtoon Entertainment Inc. and Tamboran Resources Corp. price initial public offerings, SM Energy Company acquires oil and gas assets, and Nokia sells Alcatel Submarine Networks to the French state.

  • June 28, 2024

    High Court Enters July With 3 Rulings To Go

    In a rare move, the U.S. Supreme Court will issue opinions into the beginning of July as the court tries to clear its merits docket of three remaining cases dealing with presidential immunity, whether governments can control social media platforms' content moderation policies and the appropriate deadline to challenge agency action. 

  • June 28, 2024

    Supreme Court Strikes Down Chevron Deference

    The U.S. Supreme Court on Friday overturned a decades-old precedent that instructed judges about when they could defer to federal agencies' interpretations of law in rulemaking, depriving courts of a commonly used analytic tool and leaving lots of questions about what comes next.

Expert Analysis

  • Anticipating Intensified Partnership Enforcement From IRS

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    The Internal Revenue Service's decadeslong difficulties with partnership audits led to the recent announcement of a clear, well-funded, focused initiative, and businesses operating in the partnership form will feel the impact, with definite changes ahead, says Sharon Katz-Pearlman at Greenberg Traurig.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

  • Series

    Playing In A Rock Cover Band Makes Me A Better Lawyer

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    Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.

  • Series

    The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'

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    The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.

  • Opinion

    Newman Suspension Shows Need For Judicial Reform

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    The recent suspension of U.S. Circuit Judge Pauline Newman following her alleged refusal to participate in a disability inquiry reveals the need for judicial misconduct reforms to ensure that judges step down when they can no longer serve effectively, says Aliza Shatzman at The Legal Accountability Project.

  • EPA Report A Reminder That Fuel Credits Are 'Buyer Beware'

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    A recent report from the U.S. Environmental Protection Agency's Office of Inspector General is a reminder that fraud risk in the renewable fuel identification number market remains, and that purchasers are ultimately responsible for ensuring the validity of credits they buy, say David McIndoe and Nick Hillman at Eversheds Sutherland.

  • How And Why Your Firm Should Implement Fixed-Fee Billing

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    Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Opinion

    Judicial Independence Needs Defense Amid Political Threats

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    Amid recent and historic challenges to the judiciary from political forces, safeguarding judicial independence and maintaining the integrity of the legal system is increasingly urgent, says Robert Peck at the Center for Constitutional Litigation.

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • While Risks Exist, AI Could Transform IRS Enforcement

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    The Internal Revenue Service's recently announced use of artificial intelligence could revolutionize the agency's enforcement efforts, and transparency about its use and a forum for challenging AI findings could help mitigate fears that the technology will increase bias, say attorneys at Lewis Brisbois.

  • AGs' Distaste For Food Bill May Signal Other State Issues

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    States' recent opposition to a proposed federal law that would block them from regulating out-of-state agricultural production could affect issues beyond this narrow debate, such as the balance of state and federal regulatory power, reproductive rights post-Dobbs, and energy production and water use, say Christopher Allen and Stephen Cobb at Cozen O'Connor.

  • Strategic Succession Planning At Law Firms Is Crucial

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    Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

  • Maximizing Law Firm Profitability In Uncertain Times

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    As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.

  • 5th Circ. Ruling Reminds Attys That CBP Can Search Devices

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    The Fifth Circuit’s recent Malik v. Department of Homeland Security decision adds to the chorus of federal courts holding that border agents don’t need a warrant to search travelers’ electronic devices, so attorneys should consider certain special precautions to secure privileged information when reentering the U.S., says Jennifer Freel at Jackson Walker.

  • Enforcement Of International Tax Reporting Is Heating Up

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    Since the U.S. Supreme Court’s February decision in Bittner v. U.S. changed how penalties for failure to report offshore accounts are calculated, recent developments suggest the government is preparing to step up enforcement and vigorously pursue the collection of resulting penalties, say Daniel Silva and Agustin Ceballos at Buchalter.

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