International
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February 13, 2025
DOJ Seeks Sanctions Against Widow In FBAR Fight
A widow defending her husband's estate against a $275,000 claim alleging he didn't disclose his Indian bank account to the Internal Revenue Service should be sanctioned for not complying with court-ordered discovery, the U.S. government told a New York federal court.
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February 13, 2025
UK Can't Tax Irish Resident's £8M In Dividends, Court Says
A woman who moved from England to Ireland does not owe U.K. tax on £8 million ($10 million) in dividends she received through shares transferred by her husband, the Court of Appeal ruled Thursday, finding she qualified for an exemption from a residency test.
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February 13, 2025
Italian Gold Smuggler Evaded $27.6M In Taxes, Swiss Say
Swiss authorities filed charges against an Italian citizen they said led a scheme that smuggled gold into Switzerland from Italy that dodged roughly 25 million Swiss francs ($27.6 million) in taxes.
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February 13, 2025
Drilling Contractor Appeals HMRC Win Over £6.7M Tax Bill
A drilling contractor serving offshore oil and gas rigs took its fight against HM Revenue and Customs to the U.K. Supreme Court on Thursday, arguing the tax office was wrong to restrict the company's tax deductions by £6.7 million ($8.4 million).
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February 12, 2025
Ireland Should Broaden Tax Base, OECD Says
Ireland can shore up its medium-term revenue projections by broadening its tax base, the Organization for Economic Cooperation and Development said Wednesday, saying the country's reliance on taxes from multinational entities opens it up to risk.
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February 12, 2025
EU To Consider 3% Digital Tax, Economic Presence Tax
The European Commission plans to look this year at proposals for a blocwide 3% digital services tax, a significant economic presence tax and a framework for income taxation, according to its program of work, signaling its intent to revive past discussions.
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February 12, 2025
Fenwick Brings On IRS Trial Attorney In Seattle
Fenwick & West LLP has added an attorney from the Internal Revenue Service's Office of Chief Counsel to its Seattle office, the firm announced.
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February 12, 2025
Winthrop & Weinstine Brings In Tax Counsel Duo As Co-Chairs
Minneapolis-based Winthrop & Weinstine PA has added tax attorneys from Kirkland & Ellis LLP and Shartsis Friese LLP to become shareholders of the firm and co-chairs of its tax practice, the firm announced Wednesday.
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February 12, 2025
Aussie Greens Party Proposes 10% Tax On Billionaires
The Australian Greens party has proposed a 10% tax on the wealth of the country's 150 billionaires, with projections that the plan would generate AU$50 billion ($31.4 billion) over the next decade to help fund essential services.
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February 12, 2025
Squire Patton Brings On Polsinelli Tax Ace In Houston
Squire Patton Boggs LLP announced Wednesday that a former Polsinelli PC shareholder has joined the tax strategy and benefits practice group in Houston, an addition that helps the firm address growing client needs.
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February 12, 2025
EU Presses Greece To End Tax-Free Shops' Excise Exemption
Greece must remove its excise duty exemption for tax-free shops at borders with non-European Union countries, which has not been allowed under EU regulations since 2017, the European Commission said Wednesday.
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February 12, 2025
Berger Singerman Adds Carlton Fields Tax Pro In Miami
Florida business law firm Berger Singerman has added a new partner to its business, finance and tax team in Miami from Carlton Fields.
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February 12, 2025
EU Parliament Greenlights Changes To Digital VAT Rules
The European Parliament approved a series of changes to the European Union's plans to reform the value-added tax rules of the economic bloc including fully digitalizing VAT reporting, making it harder to dodge the tax in EU jurisdictions, according to a statement Wednesday.
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February 12, 2025
HMRC Can't Tax Canadian Bank For Oil Loan Payments
The U.K. Supreme Court ruled Wednesday that HM Revenue and Customs cannot tax loan payments made to Royal Bank of Canada connected to oil rights in the North Sea because the underlying agreement did not give an oil company the right to work the oilfield.
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February 11, 2025
Trump's Tariffs, GOP Tax Goals Pose Political Puzzle
President Donald Trump's use of wholesale tariffs may generate trillions of dollars across a 10-year budget window, but the economic uncertainty associated with the U.S.'s aggressive trade posture could politically harm Republicans' must-have efforts to shepherd a tax bill into law this year, experts say.
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February 11, 2025
£5.5B Tax Evasion Could Be 'Tip Of Iceberg,' Watchdog Warns
The £5.5 billion ($6.8 billion) annual cost of tax evasion drawn up by HM Revenue and Customs is probably "vastly underestimated" — and the authority has no plan to tackle the gap in the public purse, the government's spending watchdog warned Wednesday.
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February 11, 2025
Ill. Bill Would Trim Corp. Carryover Limit's Time Frame
Illinois would shorten the time frame of a limit on carryover deductions for corporations under the state's income tax law and prohibit the imposition of franchise taxes on domestic or foreign corporations as part of a bill introduced in the state Senate.
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February 11, 2025
FBAR Default Vacated To Give Widow Another Chance
A New York federal court agreed with a magistrate's recommendation to vacate a default judgment against a widow, giving her another chance to defend her husband's estate against the government's $275,000 claim that he failed to report his Indian bank account.
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February 11, 2025
UK Looking For Int'l Feedback On Carbon Tax Measure
The U.K. is establishing an international group in order to get feedback on its upcoming carbon border tax with the hopes of helping the countries that will be most impacted by the measure to better understand it, HM Treasury said Tuesday.
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February 11, 2025
EU Leaders Poised For 'Proportionate' Response To US Tariffs
European Union officials criticized President Donald Trump's decision to impose an across-the-board 25% tariff on all imported steel and aluminum, with European Commission President Ursula von der Leyen on Tuesday signaling "firm and proportionate countermeasures."
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February 11, 2025
Commerce Powers Key In Battle Over Corp. Transparency Law
The question of whether Congress exceeded its powers to regulate commerce by enacting the Corporate Transparency Act is likely to feature in a potential U.S. Supreme Court resolution to around a dozen challenges to the law that are percolating through the courts.
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February 11, 2025
Tribunal To Consider If FCA Has Equality Duty In Cum-Ex Row
The U.K.'s Upper Tribunal will hold a preliminary hearing to decide whether the Financial Conduct Authority has a duty to not discriminate when it fined and banned a cum-ex trader from the industry, according to a tribunal decision published Tuesday.
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February 11, 2025
Canadian Tax-Free Rebate Promise Broken, Group Says
Despite public assertions that the CA$2.5 billion ($1.75 billion) in small business carbon tax rebate payments would be tax-free, a Canadian business group said it has received word from the Canada Revenue Agency that it will be subject to income tax.
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February 10, 2025
Pension Execs Found Liable In $2B Danish Tax Fraud Case
A New York federal jury found Monday by "clear and convincing evidence" that Denmark's tax agency reasonably relied on the false statements made on pension plan applications that were part of a $2.1 billion tax fraud scheme by pension plan executives.
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February 10, 2025
UAE Lays Out Exclusions, Transition Period For Minimum Tax
The United Arab Emirates' Ministry of Finance further explained how it is implementing the Organization for Economic Cooperation and Development's 15% global corporate minimum tax, detailing a number of exclusions and a planned transitional period.
Expert Analysis
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Circuit Judge Writes An Opinion, AI Helps: What Now?
Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.
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Trauma-Informed Legal Approaches For Pro Bono Attorneys
As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.
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How Attys Can Avoid Pitfalls When Withdrawing From A Case
The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.
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Using A Children's Book Approach In Firm Marketing Content
From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.
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New Crypto Reporting Will Require Rigorous Recordkeeping
The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service's efforts to track cryptocurrency activities that increases oversight by requiring brokers to report investor sales and exchanges, say Shaina Kamen and Max Angel at Holland & Knight.
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Exploring An Alternative Model Of Litigation Finance
A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.
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A Vision For Economic Clerkships In The Legal System
As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcomes and provide essential training to clerks, say Mona Birjandi at Data for Decisions and Matt Farber at Secretariat.
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A Look At New IRS Rules For Domestically Controlled REITs
The Internal Revenue Services' finalized Treasury Regulations addressing whether real estate investment trusts qualify as domestically controlled adopt the basic structure of previous proposals, but certain new and modified rules may mitigate the regulations' impact, say attorneys at Simpson Thacher.
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E-Discovery Quarterly: Recent Rulings On Text Message Data
Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.
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Don't Use The Same Template For Every Client Alert
As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.
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Think Like A Lawyer: Follow The Iron Rule Of Trial Logic
Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.
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The Art Of Asking: Leveraging Your Contacts For Referrals
Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.
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Unpacking The Bill To Extend TCJA's Biz-Friendly Tax Breaks
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.