Tax

February 04, 2025
Mich. Supreme Court Says City's Electricity Fee Is Illegal Tax

A franchise fee added to East Lansing, Michigan, residents' energy bills is a disguised tax, the Michigan Supreme Court ruled Monday, saying the fee was used to raise revenue for the city without first being approved by voters.
February 04, 2025
External Revenue Service Could Help Solve Unpaid Duty Issue

President Donald Trump's call for a new agency designed to collect trade revenue, billed as the External Revenue Service, may be more than a flashy concept and could tackle lingering inefficiencies associated with duty collection, experts say.
February 04, 2025
Akerman Adds Ex-DOJ Tax Atty From Chamberlain Hrdlicka

Akerman LLP has brought on a former Internal Revenue Service and U.S. Department of Justice trial attorney from Chamberlain Hrdlicka White Williams & Aughtry PC as a tax partner in Atlanta.
February 04, 2025
Kostelanetz Adds Tax Pro From Lowenstein Sandler

Kostelanetz LLP said a former partner at Lowenstein Sandler LLP has joined the firm as a partner in the Washington, D.C., office.
February 04, 2025
Wash. Gov. Orders Look At Data Centers' Tax Revenue Impact

Washington's governor issued an executive order directing the state's Department of Revenue to create a work group to examine the impact of data centers on the state's tax revenue and economy and recommend policies to address tax revenue needs in relation to other priorities.
February 04, 2025
Walmart Gets Arbitration In Fla. Delivery Fee Tax Fight

An accusation that Walmart unlawfully charged Florida customers sales tax on delivery fees will go to arbitration, a federal judge ruled Tuesday, saying shoppers agreed to arbitration when they accepted the terms of use of the retailer's website.
February 04, 2025
Mellon Heir's Estate Defends $29M Tax Refund Request

A Pittsburgh billionaire made a "bona fide" deal to indemnify the trustees for his Mellon family millions as he drained a family trust account, so a $200 million settlement to partly replenish the fund for his heirs should be deductible and produce a $29 million refund of his Pennsylvania estate taxes, the estate's lawyer told a state appellate court Tuesday.
February 04, 2025
US Drops Out Early From UN Global Tax Convention Talks

The U.S. government will no longer participate in United Nations negotiations aimed at drafting a framework convention on international tax cooperation, intends to reject the outcome and welcomes other countries to join in its opposition, a U.S. diplomat said.
February 04, 2025
Pa. Governor Puts Cannabis Legalization In Budget Proposal

Pennsylvania Gov. Josh Shapiro on Tuesday announced a plan to legalize recreational cannabis later this year as part of his budget proposal.
February 04, 2025
3rd Circ. Urged To Nix Tax On $191M In Family Pharma Feud

A pharmaceutical company's $191 million payment settling a family feud over shares of the business did not include imputed interest triggering higher taxes as the U.S. government claims, a trust for family members who received the money told the Third Circuit.
February 04, 2025
Calif. Insurer Can't Get Tax Refund On In-State Shipments

A California insurance company can't get a refund of sales taxes paid when it placed orders with three vendors located out of state that the vendors fulfilled with shipments from within the state, the California Office of Tax Appeals ruled.
February 03, 2025
Trump Orders Plan For Creating US Sovereign Wealth Fund

President Donald Trump on Monday signed an executive order calling on the U.S. Department of the Treasury and U.S. Department of Commerce to come up with a plan to create a U.S. sovereign wealth fund and said the social media app TikTok could potentially be put in the proposed fund.
February 03, 2025
Schumer Warns Of 'Hostile Takeover' From DOGE

Top Senate Democrats on Monday railed against access granted to Elon Musk's Department of Government Efficiency that allowed the outfit's employees to tap into the U.S. Department of Treasury's federal payment system over the weekend.
February 03, 2025
Ill. Bill Seeks Tax Break For Megaproject Building Materials

Illinois would provide an exemption from any state or local use tax or retailers occupation tax for building materials incorporated into real estate at what are known as megaproject sites as part of a bill filed in the state House of Representatives.
February 03, 2025
Ill. House Floats Income Tax Deduction Bill For Union Dues

Illinois would create an income tax deduction for union dues for taxpayers who weren't allowed a deduction under federal law as part of a bill filed in the state House of Representatives.
February 03, 2025
Canada Gets Trump Tariffs Paused After Retaliation Threats

Canada and the U.S. have agreed to pause planned tariffs for at least 30 days while the two countries try to work out an agreement, Canadian Prime Minister Justin Trudeau and U.S. President Donald Trump said late Monday afternoon, an announcement that came after Canada floated retaliatory tariffs earlier in the day and said it would rip up a contract with Elon Musk's Starlink.
February 03, 2025
IRS Defends Process For Denying Worker Credit Claims

The Internal Revenue Service defended its process for rejecting applications for pandemic-era worker tax credits that it deems too risky to pay out, telling an Arizona federal court that contrary to the claims of two companies suing the agency over denials, its response has been reasonable.
February 03, 2025
White & Case Gets Tax Pro From Latham

White & Case LLP has added a former Latham & Watkins LLP senior associate to serve as a partner in its London office, the firm announced.
February 03, 2025
DC Judge Joins RI In Blocking Trump Funding Freeze

A D.C. federal judge on Monday temporarily blocked the Trump administration from implementing a freeze on federal spending while a group of nonprofits sue over the move, ruling the pause appears to "suffer from infirmities of a constitutional magnitude."
February 03, 2025
EPPO Probes Steel Tax Fraud In UK And Germany

The European Public Prosecutor's Office is investigating suspected tax fraud linked to imports of Indian steel into Germany via the U.K. to dodge the European Union's import duties, the office said Monday.
February 03, 2025
US Tariffs On Mexico And Canada Paused For One Month

President Donald Trump said Monday that he will suspend the imminent 25% tariffs on Mexican and Canadian goods entering the U.S. for one month after talking with both countries' leaders.
January 31, 2025
Funding Freezes 'Commonplace,' Feds Tell DC Judge

The Trump administration is asking a D.C. federal judge to throw out a lawsuit challenging a freeze on federal spending outlined in a since-rescinded memo from the White House budget office, telling the court that the withdrawal moots the litigation.
January 31, 2025
Supreme Court Eyes Its 'Next Frontier' In FCC Delegation Case

A case about broadband subsidies will give the U.S. Supreme Court the chance to revive a long-dormant separation of powers principle that attorneys say could upend regulations in numerous industries and trigger a power shift that would make last term's shake-up of federal agency authority pale in comparison. And a majority of the court already appears to support its resurrection.
January 31, 2025
UK Cos. See Brexit's Legacy In Steeper Compliance Costs

British companies doing business in the European Union have seen their tax compliance burden rise as the U.K.'s tax rules have moved further away from EU rules in the five years since Brexit, though the largest companies have been able to absorb the costs.
January 31, 2025
Trump Threatens 100% Tariffs Over New BRICS Currency

President Donald Trump has lobbed tariff threats at a new group of countries, saying that he would implement 100% tariffs on members of the so-called BRICS coalition — which includes Brazil, Russia, India and China — if they follow through on plans to create a gold-backed currency as an alternative to the U.S. dollar.

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

Anticipating Direction Of Cosmetics Regulation Under Trump

It is unclear how cosmetics regulation reform from the last few years will fare under President Donald Trump, but the new administration's emphasis on deregulation and Robert F. Kennedy Jr.'s views on product safety provide some insight, say attorneys at Crowell & Moring.
IRS Basis-Shifting Rule Poses Notable Reporting Obligations

While the IRS’ recently finalized rule requiring partnerships to report certain related-party basis adjustment transactions is narrower than originally proposed, taxpayers and their advisers will still need to comb through myriad transactions to comply, say attorneys at Debevoise.
Imagine The Possibilities Of Openly Autistic Lawyering

Andi Mazingo at Lumen Law, who was diagnosed with autism about midway through her career, discusses how the legal profession can create inclusive workplaces that empower openly autistic lawyers and enhance innovation, and how neurodivergent attorneys can navigate the challenges and opportunities that come with disclosing one’s diagnosis.
Series

Documentary Filmmaking Makes Me A Better Lawyer

Becoming a documentary filmmaker has allowed me to merge my legal expertise with my passion for storytelling, and has helped me to hone negotiation, critical thinking and problem-solving skills that are important to both endeavors, says Robert Darwell at Sheppard Mullin.
Litigation Funding Disclosure Debate: Strategy Considerations

In the ongoing debate over whether courts should require disclosure of litigation funding, funders and plaintiffs tend to argue against such mandates, but voluntarily disclosing limited details about a funding arrangement can actually confer certain benefits to plaintiffs in some scenarios, say Andrew Stulce and Marc Cavan at Longford Capital.
Top Considerations For Insurance Companies In 2025

As insurance industry participants look to plan for the year, regulatory changes, climate-related challenges, the ongoing effects of social inflation and the potential for significant mergers and acquisitions will be among the key items for insurer boards and management to have on their radar, say attorneys at Debevoise.
Scope And Nature Of Judicial Relief Will Affect Loper's Impact

The practical result of post-Loper Bright rulings against regulatory actions will depend on the relief courts grant — and there has been controversy in these types of cases over whether the ruling is applied just to the parties or nationwide, and whether the action can be left in place while it's corrected, says Steven Gordon at Holland & Knight.
Series

Adventure Photography Makes Me A Better Lawyer

Photographing nature everywhere from Siberia to Cuba and Iceland to Rwanda provides me with a constant reminder to refresh, refocus and rethink the legal issues that my clients face, says Richard Birmingham at Davis Wright.
5 Ways To Create Effective Mock Assignments For Associates

In order to effectively develop associates’ critical thinking skills, firms should design mock assignments that contain a few key ingredients, from messy fact patterns to actionable feedback, says Abdi Shayesteh at AltaClaro.
Opinion

Congress Should Pass Sex Abuse Settlement Tax Exemptions

The proposed Survivor Justice Tax Prevention Act would expand tax exemptions more clearly for sexual abuse cases, and finally remove the stigma around compensation for emotional and psychological damage, says Rocco Strangio at Milestone & Co.
What's Next For Accounting Enforcement After SEC's Big 2024

The U.S. Securities and Exchange Commission under the Trump administration will likely continue to focus enforcement efforts on many of the same accounting and auditing issues that it pursued over the past year — but other areas, such as ESG, internal controls and cryptocurrency cases, may fall out of focus, say attorneys at Debevoise.
Mentorship Resolutions For The New Year

Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.
Series

Coaching Little League Makes Me A Better Lawyer

While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.
5 Litigation Funding Trends To Note In 2025

Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.
Rethinking Litigation Risk And What It Really Means To Win

Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.