Tax

  • May 07, 2026

    Carbon Tax Revenues Fall Far Short Of Potential, Report Says

    Carbon taxes worldwide raised less than a third of the revenue they could have recently, weighed down by exemptions, reduced rates, compliance gaps and other carbon pricing systems carving out the tax base, the Tax Foundation said Thursday in a report.

  • May 07, 2026

    Judge Cuts 13 Wire Fraud Counts From $1B Tax Shelter Case

    A Texas federal judge dismissed 13 wire fraud charges against four men accused of running a $1 billion tax shelter scheme, ruling prosecutors improperly relied on a statute with a lower intent standard than the applicable tax fraud law.

  • May 07, 2026

    Stinson Real Estate Finance Atty Joins Reed Smith In DC

    Reed Smith LLP has hired a Stinson LLP lawyer who focuses her practice on real estate finance matters, renewable energy tax credit and new market tax credit issues, the firm has announced.

  • May 07, 2026

    Toss Of Ex-Shkreli Atty's Deal May Be Error, 2nd Circ. Hints

    A Second Circuit judge hinted Thursday that a trial judge may have erred in rejecting a retirement-fund garnishment deal that would have protected Martin Shkreli's convicted former lawyer from a potential $1 million "punitive tax event."

  • May 07, 2026

    Italian Man Arrested Amid Probe Into Large-Scale VAT Fraud

    Italian authorities have arrested a businessman suspected of laundering the proceeds of a multimillion-euro value-added tax fraud, the European Public Prosecutor's Office said.

  • May 07, 2026

    Iran War Risks £8B Annual Tax Hit To UK, Report Warns

    The Iran war could cost the U.K. government up to £8 billion ($10.9 billion) a year through lost tax revenue and higher debt interest payments, a progressive think tank warned Thursday.

  • May 06, 2026

    Sony Reaped 'Windfall' From Illegal Tariffs, Gamers Say

    Sony Interactive Entertainment LLC retained a "substantial windfall" generated by illegal tariffs imposed under the International Emergency Economic Powers Act, two Sony PlayStation console owners said Wednesday in a proposed class action in California federal court.

  • May 06, 2026

    Calif. Tribe Can't Get ATF's Cigarette Sales Decision Tossed

    A Ninth Circuit panel determined Wednesday that federal tobacco regulators acted appropriately when placing the Twenty-Nine Palms Band of Mission Indians on a noncompliance list, concluding the tribe's remote cigarette sales to retailers of other tribes count as "off-reservation" activities covered by California state tax and licensing laws.

  • May 06, 2026

    Booz Allen Says Fla. Senator's Tax Leak Suit Is Too Late

    U.S. Sen. Rick Scott, R-Florida, waited too long to file a lawsuit over the leak of his personal tax returns, according to federal contractor Booz Allen Hamilton, which moved to dismiss the suit Tuesday.

  • May 06, 2026

    Tea Deal Sparks Chancery Fight Over Tax Records

    An international tea business has sued a food-and-beverage manufacturer in Delaware Chancery Court, accusing it of withholding tax and audit records needed to complete 2024 filings tied to the manufacturer's purchase of Harris Tea Co. LLC.

  • May 06, 2026

    Fla. Couple Sentenced For Evading $37M In Payroll Taxes

    An Orlando couple were sentenced to prison for participating in a $148 million construction payroll scheme and evading more than $37 million in payroll taxes, Florida federal prosecutors announced Wednesday.

  • May 06, 2026

    IRS To Settle More Syndicated Easement Disputes

    Eligible partnerships may soon be able to settle their disputes with the IRS over charitable tax deductions claimed on their donated conservation or historic preservation easements under an upcoming "time-limited" opportunity, the agency announced Wednesday.

  • May 06, 2026

    Mich. Gov. Ex-Appointee Accused Of $20 Million Grant Fraud

    An ex-appointee of Michigan Gov. Gretchen Whitmer was charged Wednesday with 16 felonies in connection with misappropriation of a $20 million taxpayer-funded business grant.

  • May 06, 2026

    4th Circ. Appears Unpersuaded By $22M Tax Fraud Appeal

    Two attorneys and an insurance agent faced a Fourth Circuit panel Wednesday that seemed hard-pressed to overturn their convictions for orchestrating a $22 million tax avoidance scheme, with the judges casting doubt on their venue objections and claims that the false tax returns contained truthful information.

  • May 06, 2026

    IRS Gets Protest Of Wedding Gift Penalties Narrowed

    A Chinese citizen seeking a refund of penalties imposed by the IRS over a failure to report wedding gifts she received from abroad cannot argue the agency must collect the penalties through a civil action, a California federal court said, partially dismissing her suit.

  • May 06, 2026

    Insurers Ask To Ignore Simplified Foreign Currency Rules

    The insurance industry should be allowed to ignore regulations from 2024 covering how corporations determine taxable income with respect to affiliates that conduct business in a foreign currency, the American Council of Life Insurers told the U.S. Treasury in a letter released Wednesday.

  • May 06, 2026

    Okla. House OKs Valuation Method Change For Some Rentals

    Oklahoma would allow certain rental housing to be valued using a cost approach instead of an income approach under a bill passed in the state House of Representatives.

  • May 06, 2026

    Mass. Justices Push For An End To AG-Auditor Deadlock

    Massachusetts' top court on Wednesday seemed to agree that an ongoing dispute between the state attorney general and auditor over a voter-backed audit of the legislature needs to come to an end, even as justices dinged both sides for the stalemate.

  • May 06, 2026

    Extend Immediate Expensing For Plastic Recycling, IRS Told

    Advanced plastic recycling should be eligible for a new tax perk allowing full expensing of a qualified production property's costs, a chemical trade association said in a letter, released Wednesday, recommending the industry-specific change for the IRS' upcoming proposed regulations.

  • May 05, 2026

    Miner Looks To DQ Dorsey Under The 'Hot Potato' Doctrine

    A uranium mining company is looking to disqualify Dorsey & Whitney LLP as counsel for potential intervenors in a lawsuit in Colorado federal court over an arbitration initiated by another mining company based on a mineral assets purchase, saying Dorsey can't drop it like a "hot potato."

  • May 05, 2026

    Tax Shelter Trial Defendants Claim Promoter Misled Them

    More than a dozen lawyers and defendants packed a Colorado federal courtroom Tuesday to mark the first day of testimony in the trial against four individuals accused of using their businesses to help promote and sell abusive trust tax shelters.

  • May 05, 2026

    Ending Carried Interest Tax Break May Net $88B, Report Says

    Ending the carried interest tax break could raise far more than previously estimated, nearly $88 billion in a decade, based on a new methodology put forward in a report by the Yale Budget Lab.

  • May 05, 2026

    Wash. Justices Say Millionaire Tax Shielded From Referendum

    Washington's recently passed tax on income over $1 million cannot be subject to a voter referendum, the state Supreme Court ruled, finding that the tax falls under a referendum exception because of its deemed necessity.

  • May 05, 2026

    IRS Beats Suit Claiming Secret Rule Targeted Stock Plan

    A transportation company cannot pursue its claims that the IRS adopted a secret rule that targeted its stock ownership plan, a Wisconsin federal judge ruled, throwing out the company's suit.

  • May 05, 2026

    Tribunal Hands Referee Co. Win In £584K Tax Status Case

    An English soccer referee body won its decadelong dispute with the U.K.'s tax authority after a London tribunal ruled that referees' match-day engagements were contracts for services rather than employment, meaning the group isn't liable for the referees' taxes.

Expert Analysis

  • From Clerkship To Law Firm: 5 Transition Tips For Associates

    Excerpt from Practical Guidance
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    Transitioning from a judicial clerkship to an associate position at a law firm may seem daunting, but by using knowledge gained while clerking, being mindful of key differences and taking advantage of professional development opportunities, these attorneys can flourish in private practice, say attorneys at Lowenstein Sandler.

  • Trump Tax Law's Most Consequential International Changes

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    The international tax provisions in the One Big Beautiful Bill Act may result in higher effective tax rates for some multinational corporations, but others, particularly those operating in low-tax jurisdictions, may benefit from alignment with global anti-profit shifting efforts, say attorneys at Weil.

  • Associates Can Earn Credibility By Investing In Relationships

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    As the class of 2025 prepares to join law firms this fall, new associates must adapt to office dynamics and establish credible reputations — which require quiet, consistent relationship-building skills as much as legal acumen, says Kyle Forges at Bast Amron.

  • Lessons From 7th Circ.'s Deleted Chat Sanctions Ruling

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    The Seventh Circuit’s recent decision in Pable v. Chicago Transit Authority, affirming the dismissal of an ex-employee’s retaliation claims, highlights the importance of properly handling the preservation of ephemeral messages and clarifies key sanctions issues, says Philip Favro at Favro Law.

  • NY Tax Talk: ALJ Vacancy, Online Sales, Budget

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    Among the most notable developments in New York tax law last quarter, an administrative law judge vacancy continued affecting taxpayers, a state court decision tested the scope of the Interstate Income Act, and Gov. Kathy Hochul signed the 2025-2026 fiscal budget containing key tax-related provisions, say attorneys at Eversheds Sutherland.

  • Series

    Quilting Makes Me A Better Lawyer

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    Turning intricate patterns of fabric and thread into quilts has taught me that craftsmanship, creative problem-solving and dedication to incremental progress are essential to creating something lasting that will help another person — just like in law, says Veronica McMillan at Kramon & Graham.

  • What 2 Profs Noticed As Transactional Law Students Used AI

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    After a semester using generative artificial intelligence tools with students in an entrepreneurship law clinic, we came away with numerous observations about the opportunities and challenges such tools present to new transactional lawyers, say professors at Cornell Law School.

  • Rebuttal

    BigLaw Settlements Should Not Spur Ethics Deregulation

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    A recent Law360 op-ed argued that loosening law firm funding restrictions would make BigLaw firms less inclined to settle with the Trump administration, but deregulating legal financing ethics may well prove to be not merely ineffective, but counterproductive, says Laurel Kilgour at the American Economic Liberties Project.

  • 5 Ways Lawyers Can Earn Back The Public's Trust

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    Amid salacious headlines about lawyers behaving badly and recent polls showing the public’s increasingly unfavorable view of attorneys, we must make meaningful changes to our culture to rebuild trust in the legal system, says Carl Taylor at Carl Taylor Law.

  • Legal Jeopardy Looms Over Trump's Trade Negotiation Plans

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    Even as the Trump administration announces one trade deal after another, the legal authority of the executive branch to impose tariffs under consensual arrangements with leading trading partners is just as debatable as the unilateral imposition of U.S. tariffs under the president's executive orders, says Jeffrey Bialos at Eversheds Sutherland.

  • Series

    Hiking Makes Me A Better Lawyer

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    On the trail, I have thought often about the parallels between hiking and high-stakes patent litigation, and why strategizing, preparation, perseverance and joy are important skills for success in both endeavors, says Barbara Fiacco at Foley Hoag.

  • Opportunity Zone Overhaul Is Good News For Investors

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    Recently enacted reforms making the qualified opportunity zone program permanent, restoring the basis step-up for capital gains and adding flexibility to the zone designation process enhance the program’s appeal for long-term investment, says Steven Hadjilogiou at McDermott.

  • What US-India Trade Deal Will Mean For Indian Pharma

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    Complicated by newly imposed tariffs from the U.S., the outcome of the U.S.-India trade talks is poised to reshape not just trade policy, but also the strategic alignment of the two countries' pharmaceutical ecosystems, says Jashaswi Ghosh at Holon Law Partners.

  • White House Report Strikes An Optimistic Note On Crypto

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    Taking seriously President Donald Trump's pledge to adopt a pro-innovation mindset toward digital assets and blockchain technologies, a recent benchmark White House report on crypto provides a comprehensive regulatory framework that takes into account the products' novel characteristics within the high-tech ecosystem, say attorneys at Davis Wright.

  • Series

    Law School's Missed Lessons: Negotiation Skills

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    I took one negotiation course in law school, but most of the techniques I rely on today I learned in practice, where I've discovered that the process is less about tricks or tactics, and more about clarity, preparation and communication, says Grant Schrantz at Haug Barron.

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