International

  • July 24, 2024

    Int'l Firm Garrigues Merges With Full-Service Mexican Firm

    International legal and tax services firm Garrigues will create one of the largest law firms in Mexico by integrating a full-service Mexican firm into the group by the end of 2024, both firms announced.

  • July 24, 2024

    Nigerian Parliament Passes 70% Bank Windfall Levy

    The upper house of Nigeria's Parliament passed an amendment to its finance bill that included a 70% one-time levy on banks' foreign exchange gains, an increase over the 50% rate originally proposed by the country's president.

  • July 24, 2024

    IRS' $15M Jeopardy Assessment OK'd In Offshore Tax Fight

    A Florida federal court has upheld a $15 million immediate tax assessment against a man who transferred his father's estate into trusts for himself and his mother and refused to pay what the IRS claimed was tax debt on his father's undisclosed offshore accounts.

  • July 24, 2024

    Affordable Housing Pro Moves Practice To Nelson Mullins

    An attorney who specializes in advising clients on completing affordable housing development projects has recently moved her practice to Nelson Mullins Riley & Scarborough's Pittsburgh office.

  • July 24, 2024

    HMRC Wins Battle Over Candy Maker's Holiday Fund Scheme

    HM Revenue & Customs has convinced an appeals tribunal that a Scottish sweet maker must compensate its employees for salary deductions it put aside in "holiday funds," with the judge finding the scheme ran afoul of national minimum wage regulations.

  • July 24, 2024

    Germany Failing To Address Nonprofits' Tax Status, EU Says

    Germany has failed to make any progress addressing uncertainty surrounding the tax-exempt status of nonprofit organizations a year after the European Commission recommended it do so, the commission said Wednesday.

  • July 24, 2024

    Dentons Brings On Former Big 4 Exec As New Global CEO

    Global law firm Dentons, which has made a name for itself by aggressive growth through combinations, has tapped a new global chief executive officer with leadership experience at accounting giant EY, the firm's first change at the top in over a decade.

  • July 24, 2024

    Phillips Lytle Private Wealth Pro Joins Gunster In Florida

    Gunster has announced that the firm picked up an of counsel for its private wealth services team in West Palm Beach, Florida, from Phillips Lytle LLP, as well as three associate attorneys.

  • July 24, 2024

    Can New Pensions Minister 'Serve Two Masters'?

    A new British pensions minister with a foot in two competing government departments could help create a more coherent pensions reforms, although some analysts warn of a potential Treasury takeover of pensions policy to prioritize economic stimulus.

  • July 23, 2024

    Newell Says IRS Misapplied Pricing Law In $124M Dispute

    Newell Brands told the U.S. Tax Court the Internal Revenue Service misapplied transfer pricing law to levy almost $124 million in additional taxes and penalties.

  • July 23, 2024

    IRS Notice Signals Direction On Corp. AMT Regs, Official Says

    An Internal Revenue Service notice regarding the U.S. corporate alternative minimum tax can be read as a signal about how the agency will more broadly address the measure's potential for counting offshore income twice, an IRS official said Tuesday.

  • July 23, 2024

    Winston & Strawn Adds MoFo Tax Pro As Partner In NY

    Winston & Strawn LLP has added a transactional tax specialist from Morrison Foerster LLP as a partner with the firm's transactions department and tax practice in New York.

  • July 23, 2024

    India Eyes End Of Digital Tax For E-Commerce, But Not Ads

    Foreign e-commerce companies would be exempted from India's equalization levy, a 2% digital tax, but online advertisers would continue to pay a 6% rate on gross revenues sourced to Indian customers under a budget bill presented Tuesday by the government.

  • July 23, 2024

    Australia Mulling Higher Foreign Resident Capital Gains Tax

    The Australian Treasury said Tuesday it is seeking feedback on a plan to increase the country's capital gains withholding tax rate for foreign residents, among other plans it said will strengthen the country's foreign resident capital gains tax regime.

  • July 23, 2024

    EU Seeking Comments On Digital VAT Exemption Certificate

    The European Commission is seeking public comments on a proposal to replace the current paper version of certificates for value-added tax exemptions with a digital version, the European Union's executive branch said Tuesday.

  • July 23, 2024

    Former Doctor To Be Released From Jail In FBAR Fight

    A former doctor will be released from U.S. custody after a Michigan federal court lifted Tuesday an order of civil contempt against him for failure to pay about $1 million in foreign account reporting penalties.

  • July 23, 2024

    Orrick Hires Ex-Winston & Strawn Tax Partner In Chicago

    Orrick Herrington & Sutcliffe LLP announced the hiring of a former partner at Winston & Strawn LLP for its renewables tax equity and tax credit team.

  • July 23, 2024

    5-Hour Energy Partner Owes No Tax On Sale, DC Circ. Says

    The D.C. Circuit found Tuesday that a Canadian citizen's $6.5 million in gains from her sale of a U.S. partnership interest in a company that sold 5-hour Energy drinks was not federally taxable as inventory income, reversing a U.S. Tax Court ruling.

  • July 23, 2024

    Hungary's EU Leadership Could Slow Tax Progress

    Hungary's six-month term leading meetings of European Union ministers could hinder progress toward agreement on tax legislation, as the country's position on the war in Ukraine alienates other bloc members.

  • July 23, 2024

    EU Parliament's New Tax Group Head Has Eye On Evasion

    The newly elected chair of the European Parliament's subcommittee on tax affairs said Tuesday that a major committee goal would be to examine the issue of tax fraud and evasion at a multinational level.

  • July 22, 2024

    3 Policies Tax Pros Want Congress To Pass This Year

    As momentum around the House-passed tax break bill has fizzled and election season ramps up, tax experts hope lawmakers use what little time they have left to extend expired research tax breaks, approve the Taiwanese tax agreement and pass disaster relief before the end of the year. Here are three policy changes tax professionals think Congress should make before the end of the year.

  • July 22, 2024

    HMRC Wins Appeal Over Taxation Of Partnership Rewards

    Financial rewards from a partnership were taxable as income even though they were made at the partnership's total discretion and the partners had no legally enforceable right to receive them, a London court ruled, siding with HM Revenue & Customs.

  • July 22, 2024

    US Treasury Working To Extend Pillar 1 DST Compromise

    As OECD-led negotiations continue on a taxing rights overhaul known as Pillar One after a missed June deadline, the U.S. Treasury Department is working to extend the political agreement between it and several countries to nullify their digital services taxes once the rights overhaul is implemented.

  • July 22, 2024

    Pension Plans Slam Biz Docs In $2B Danish Tax Fraud Case

    Denmark's tax agency has produced experts who are relying on unauthenticated documents in litigation accusing U.S. pension plans of participating in a $2.1 billion fraud scheme, the pension plans claimed in urging a New York federal court to exclude the testimony.

  • July 22, 2024

    Argentina Broadens Access To Beneficial Ownership Info

    Argentina is opening up access to its collection of beneficial ownership information in what it is calling a "significant advance" in transparency and anti-money laundering and terrorist financing measures in line with international standards.

Expert Analysis

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    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.

  • Trauma-Informed Legal Approaches For Pro Bono Attorneys

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    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.

  • How Attys Can Avoid Pitfalls When Withdrawing From A Case

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    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.

  • Using A Children's Book Approach In Firm Marketing Content

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    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.

  • New Crypto Reporting Will Require Rigorous Recordkeeping

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    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.

  • Exploring An Alternative Model Of Litigation Finance

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    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.

  • A Vision For Economic Clerkships In The Legal System

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    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.

  • A Look At New IRS Rules For Domestically Controlled REITs

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    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.

  • E-Discovery Quarterly: Recent Rulings On Text Message Data

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    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.

  • Don't Use The Same Template For Every Client Alert

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    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.

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

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    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.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    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.

  • Unpacking The Bill To Extend TCJA's Biz-Friendly Tax Breaks

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    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.

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