Tax

  • March 01, 2024

    Pa. Supreme Court Snapshot: Judge's Side Gig Vexes Tax Row

    In its first argument session of 2024, the Supreme Court of Pennsylvania will once again have seven justices on the bench to hear cases concerning issues like a judge taking a second job, following last year's elevation of Superior Court Judge Daniel D. McCaffery to fill the vacancy left by the death of former Chief Justice Max Baer in 2022.

  • March 01, 2024

    Commission Eyes Sweeping Changes To US Olympic Model

    An independent commission called for an overhaul of the U.S. Olympic system Friday, rebuking leaders for failing to keep athletes safe from sexual abuse and calling on Congress to take a more active role in administrating youth sports.

  • March 01, 2024

    House Tax Panel To Prep Members On OECD Pillar 1

    Neither Republicans nor Democrats on the House Ways and Means Committee have opined much about the OECD profit reallocation plan known as Pillar One, but they will gain valuable information during an upcoming subcommittee meeting, a tax staffer for the panel said Friday.

  • March 01, 2024

    Menendez Associate Pleads Guilty In Bribe Case

    A New Jersey insurance broker pled guilty Friday to bribing Sen. Bob Menendez and his wife, Nadine, by buying her a Mercedes-Benz convertible, under an agreement to cooperate with federal prosecutors.

  • March 01, 2024

    Taxation With Representation: Pillsbury, Cleary Gottlieb

    In this week's Taxation with Representation, First Advantage Corp. acquires Sterling Check Corp., International Game Technology spins off two subsidiaries, Disney merges its media operations in India with Reliance Industries, and Atlas Energy Solutions purchases Hi-Crush.

  • February 29, 2024

    Global Wealth Tax Plan Could Mirror Pillar 2, G20 Told

    A global minimum wealth tax featuring a top-up tax and enforcement system similar to the global minimum tax on corporations would reduce the ability of very wealthy individuals to avoid the measure by relocating, according to a presentation made to the Group of 20 nations Thursday.

  • February 29, 2024

    NC Says Court Blocked From Philip Morris Franchise Tax Row

    The North Carolina Department of Revenue is urging the state Supreme Court to uphold a loss for Philip Morris in the agency's fight to fetch more than $300,000 in franchise tax from the tobacco giant, arguing that state law forbids an administrative court from contemplating the constitutionality of tax law.

  • February 29, 2024

    Ga. Man Convicted In $11M PPP Fraud Case Wants New Trial

    An Atlanta man convicted on dozens of charges stemming from an $11 million pandemic loan fraud scheme has asked a Georgia federal judge for a new trial.

  • February 29, 2024

    NJ Towns Can't Sue Netflix, Hulu For Fees, 3rd Circ. Says

    Two New Jersey municipalities cannot sue Netflix and Hulu for franchise fees under the state's Cable Television Act, the Third Circuit held Thursday in a precedential opinion, saying the state statute reserves enforcement of the law to the state Board of Public Utilities.

  • February 29, 2024

    Senate Confirms First Woman To Top IRS Attorney Post

    The U.S. Senate on Thursday confirmed a former director at EY who previously served as associate chief counsel, international, at the Internal Revenue Service to be the agency's chief counsel, making her the first woman to be confirmed for the role.

  • February 29, 2024

    Colo. House OKs Multistate Online Insurance Tax Filing

    Colorado would require insurance companies to pay certain taxes through a multistate third-party online application approved by the state Division of Insurance under legislation passed by the state House of Representatives.

  • February 29, 2024

    Medtronic Says 3 Years Of Tax Returns Under IRS Audit

    Three years of medical device company Medtronic's federal income tax returns are being audited by the Internal Revenue Service, the company said in a U.S. Securities and Exchange Commission filing.

  • February 29, 2024

    European Authorities Arrest 14 In €195M VAT Fraud Probe

    European law enforcement agencies said Thursday that they had arrested 14 people suspected in a €195 million ($211 million) value-added tax fraud across 17 countries.

  • February 29, 2024

    Disclosure Law Holds Up Under Scrutiny, ECJ Adviser Says

    A European Union law that requires tax advisers to disclose some cross-border arrangements does not violate the principles of EU law, an adviser to Europe's highest court said Thursday.

  • February 28, 2024

    Amgen Seeks Dismissal Of Investor Action Over $11B Tax Bill

    Amgen had no obligation to disclose specific amounts of proposed adjustments to its taxes, the company told a New York federal court as it again demanded dismissal of a proposed class action alleging the company hid a $10.7 billion tax bill from investors.

  • February 28, 2024

    Construction Co. Boss Gets 9 Mos. For $1M Payroll Tax Fraud

    A Boston federal judge has sentenced the owner of two Massachusetts construction companies to nine months in prison for failing to pay more than $1 million in employment taxes over a decade.

  • February 28, 2024

    Embattled Philly Loan Biz Principals Hit With RICO Charges

    Legal troubles for the principals of Philadelphia's Par Funding cash advance company are mounting as federal prosecutors hit them with a new indictment adding Racketeer Influenced and Corrupt Organizations Act allegations on top of existing charges that the principals bilked investors out of hundreds of millions of dollars and threatened violence against borrowers.

  • February 28, 2024

    COVID Fraud Jury Can't Hear Of Gov't's Loan Error, Feds Say

    A jury shouldn't be shown evidence of the U.S. government's error in approving a Michigan business owner's application for a Paycheck Protection Program loan while he was under indictment, federal prosecutors have argued.

  • February 28, 2024

    G20 To Talk Global Minimum Wealth Tax At Brazil's Behest

    The Group of 20 nations' finance ministers and central bank governors will hear proposals for a global minimum tax on wealth Thursday, Brazil's finance minister said Wednesday while expressing support for the policy idea at the opening of meetings in São Paulo.

  • February 28, 2024

    Tax Preparer Cops To $2.6M Return Fraud After Jury Seated

    A Texas man filed a last-minute guilty plea to arranging around 400 false tax returns just after a jury was seated in his criminal case this week, according to court documents filed in Lone Star State federal court.

  • February 28, 2024

    Trump Can't Freeze $465M Penalty But Can Seek Loans

    A New York state appellate judge on Wednesday refused to freeze the $465 million civil fraud judgment against Donald Trump while he appeals the award, but said the former president could take out loans to cover the cost of the judgment.  

  • February 28, 2024

    Court Should Block IRS 'Fishing Expedition,' Company Says

    A company that claims it has been the victim of an Internal Revenue Service "fishing expedition" after being hit with a raft of document requests urged a Georgia federal judge Tuesday to keep alive its bid to quash the summonses, telling the court the government overstepped its bounds in seeking "a wide variety of duplicative, irrelevant, and unrelated information."

  • February 28, 2024

    NY Judge In Trump Case Receives Suspicious White Powder

    A suspicious white powder spilled out of an envelope addressed to the judge who ruled against Donald Trump in his New York civil fraud case, prompting emergency personnel to flood the courthouse at 60 Centre St. in Manhattan on Wednesday.

  • February 28, 2024

    Draft EU Withholding Law Breezes Through EU Parliament

    The European Parliament gave a clear green light on Wednesday to a draft law intended to streamline refunds for withholding tax and prevent fraud in the European Union, completing a necessary procedural step in the legislative process.

  • February 27, 2024

    TaxAct Filers Ink $23M Deal Over Meta, Google Info Sharing

    TaxAct Inc. customers have asked a California federal judge to greenlight a settlement they say is worth more than $23 million and would resolve class claims accusing the tax preparation company of secretly sharing confidential taxpayer information with Meta Platforms Inc. and Google.

Expert Analysis

  • Demystifying IRS' Claims Of $851B Return On Investment

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    The IRS' recently released analysis, estimating a $851 billion return on the government’s $80 billion investment in the agency, represents a huge increase over its 2022 estimate and that of the Congressional Budget Office and may be best viewed as a best-case scenario, says Joyce Beebe at the Baker Institute.

  • How Firms Can Ensure Associate Gender Parity Lasts

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    Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.

  • Opinion

    NY Shouldn't Pair 421-a Restoration And Good Cause Eviction

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    The good cause eviction system of rent control should not be imposed in New York, nor should its legislation be tied to renewal of the 421-a tax abatement program, which New York City desperately needs, says Alexander Lycoyannis at Holland & Knight.

  • Opinion

    A Proposal For Fairer, More Efficient Innocent Spouse Relief

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    Adding a simple election to the current regulatory framework for innocent spouse claims would benefit both taxpayers and the Internal Revenue Service by alleviating the undue burdens placed on those the program was intended to help and improving agency collections in such cases, says Laurie Kazenoff at Kazenoff Tax.

  • 7 Common Myths About Lateral Partner Moves

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    As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.

  • Proposed Hydrogen Tax Credit Regs May Be Legally Flawed

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    While the recently proposed regulations for the new clean hydrogen production tax credit have been lauded by some in the environmental community, it is unclear whether they are sufficiently grounded in law, result from valid rulemaking processes, or accord with other administrative law principles, say Hunter Johnston and Steven Dixon at Steptoe.

  • Series

    Cheering In The NFL Makes Me A Better Lawyer

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    Balancing my time between a BigLaw career and my role as an NFL cheerleader has taught me that pursuing your passions outside of work is not a distraction, but rather an opportunity to harness important skills that can positively affect how you approach work and view success in your career, says Rachel Schuster at Sheppard Mullin.

  • New Hydrogen Regulations Show The Need For IP Protections

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    The introduction of hydrogen regulations, such as the IRS' proposed tax credit for clean hydrogen under the Inflation Reduction Act, are reshaping the competitive landscape, with intellectual property rights an area of increased emphasis, say Evan Glass and James De Vellis at Foley & Lardner.

  • DC's Housing Tax Break Proposal: What's In It, What's Missing

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    Proposed Washington, D.C., rules implementing the Housing in Downtown Tax Abatement program — for commercial property owners who convert properties into residential housing — thoroughly explain the process for submitting an application, but do not provide sufficient detail regarding the actual dollar value of the abatements, says Daniel Miktus at Akerman.

  • 6 Pointers For Attys To Build Trust, Credibility On Social Media

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    In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.

  • Opinion

    Biden Admin's March-In Plan Would Hurt Medical Innovation

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    The Biden administration's proposal to reinterpret the Bayh-Dole Act and allow the government to claw back patents when it determines that a commercialized product's price is too high would discourage private investment in important research and development, says Ken Thorpe at the Rollins School of Public Health.

  • Class Actions At The Circuit Courts: February Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses five notable circuit court decisions on topics from property taxes to veteran's rights — and provides key takeaways for counsel on issues including class representative intervention, wage-and-hour dispute evidence and ascertainability requirements.

  • US-Chile Tax Treaty May Encourage Cross-Border Investment

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    Provisions in the recently effective U.S.-Chile bilateral income tax treaty should encourage business between the two countries, as they reduce U.S. withholding tax on investment income for Chilean taxpayers, exempt certain U.S. taxpayers from Chilean capital gains tax, and clarify U.S. foreign tax credit rules, say attorneys at Kramer Levin.

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

  • How 3 New Laws Change Calif. Nonprofits' Legal Landscape

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    Legislation that went into effect on Jan. 1 should be welcomed by California’s nonprofit organizations, which may now receive funding more quickly, rectify past noncompliance more easily and have greater access to the states’ security funding program, say Casey Williams and Brett Overby at Liebert Cassidy.

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