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Tax
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December 11, 2024
Judge Orders Home Sale To Pay Down $1.7M Tax Debt
A California federal judge ordered the private sale of a deceased couple's home to pay down a $700,000 tax bill that has been accruing interest for 20 years and now stands at roughly $1.7 million.
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December 11, 2024
Netherlands Gov't Reports $5.3B Drop In Tax Avoidance
The Dutch government said Wednesday that it has seen tax avoidance drop by €5 billion ($5.3 billion) since the imposition of two European Union directives targeting low-tax corporate structures and practices.
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December 10, 2024
Ga. Justices Say Courts To Decide Whether Utilities Are Taxes
A Georgia trial court wrongly decided it could not judge whether a county's utility rates are a backdoor tax on property owners, the state's highest court said Tuesday, ruling that a restriction on the state Legislature's power to "regulate or fix" rates doesn't bar review by the judicial branch.
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December 10, 2024
Biz Owner In $2.8M Worker Tax Scheme Gets 18 Months
A construction company owner who failed to pay $2.8 million in employment taxes by falsely claiming his workers were subcontractors was sentenced to 18 months in prison Tuesday and ordered to pay full restitution, according to Massachusetts federal court documents.
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December 10, 2024
NY DA Says Trump's 'President-Elect Immunity Does Not Exist'
Prosecutors told the New York state judge presiding over Donald Trump's hush money case that "president-elect immunity does not exist" and that the court could delay sentencing — or even "terminate" the case without dismissing it.
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December 10, 2024
NY AG Refuses To Drop $489M Fraud Case Against Trump
The office of New York Attorney General Letitia James has announced it won't drop its civil financial fraud case against President-elect Donald Trump, two of his sons, his companies and their executives, saying his upcoming inauguration has no bearing on litigating his appeal of the $489 million judgment.
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December 10, 2024
Soft Landing For Pilot As Billionaire's Insider Case Wraps
A pilot who admitted to dodging taxes on $500,000 in income after he was accused of taking stock tips from Joe Lewis, his billionaire boss, avoided prison on Tuesday at a sentencing that closed a high-profile insider trading prosecution.
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December 10, 2024
Ore. Real Estate Agent Underreported Income, Court Says
An Oregon real estate agent and investor failed to report nearly $188,000 in income, including the profits from two property sales, the state's tax court ruled, rejecting her appeal of the state tax department's findings except for small adjustments.
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December 09, 2024
10th Circ. Affirms Nix Of Atty's Racing Expense Deductions
The Tenth Circuit affirmed Monday the U.S. Tax Court's determination that a Denver personal injury lawyer shouldn't be allowed to deduct about $300,000 for his car racing-related costs as advertising, despite his claims that his races helped him drum up business.
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December 09, 2024
Ohio Justices Uphold Dialysis Co.'s Tax Liability On Services
A dialysis company's receipts from laboratory tests and certain administrative costs should be sourced to Ohio, the state's highest court ruled Monday, rejecting the company's arguments that they should be sourced to other states where employees handling that part of the business performed work.
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December 09, 2024
Woman Appeals Tax Court's Canadian Debt Ruling To 9th Circ.
A woman appealed to the Ninth Circuit a U.S. Tax Court decision that prevented her from challenging a federal tax lien issued by the Internal Revenue Service to secure her $200,000 tax debt to Canada on behalf of the Canadian government.
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December 09, 2024
Chicago Pol's Lies Enough To Keep Conviction, Feds Say
The government urged the U.S. Supreme Court not to disturb a former Chicago alderman's conviction for lying about money he'd borrowed from a since-shuttered bank, arguing his knowing understatements were enough to illegally mislead federal investigators.
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December 09, 2024
Ill. Congresswoman Denies Undue Influence From Madigan
U.S. Rep. Nikki Budzinski was called to the witness stand Monday in the racketeering trial of former Illinois House Speaker Michael Madigan, where she testified that while she received multiple job recommendations from Madigan as a former senior aide to Illinois Gov. J.B. Pritzker, those candidates were only hired if they were qualified.
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December 09, 2024
16 EU Members Call For Revamped Tobacco Taxation
The European Commission needs to prioritize an overhaul of the bloc's tobacco taxation rules in the upcoming term, a group of 16 member countries said Monday, arguing that major changes in the industry since the rules last updated have left countries to fend for themselves, fragmenting the tax regime.
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December 09, 2024
Man Owed $264K Under US-Canada Tax Treaty, Court Says
A U.S. man living abroad is allowed under the U.S.-Canada tax treaty to claim a foreign tax credit for nearly $264,000 in payments of the Affordable Care Act's net investment income tax, the Federal Claims Court said.
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December 09, 2024
Feds Seek 2-Year Sentence In Landmark Crypto Tax Case
The first person ever criminally charged for failing to report gains from the sale of cryptocurrency by filing false returns should be sentenced to more than two years in prison after he admitted underreporting $4 million in bitcoin proceeds, prosecutors told a Texas federal court.
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December 06, 2024
Neb. Tribe Asks US High Court To Undo Tobacco Sales Ruling
A Nebraska tribe's tobacco companies are asking the U.S. Supreme Court to overturn an Eighth Circuit ruling that held the state can regulate a tribally owned manufacturer's sales of cigarettes to Indigenous-owned distributors, arguing that Native American nations' ability to conduct their own affairs within their own borders is at stake.
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December 06, 2024
Gov't Appeals Texas Judge's Block On Anti-Laundering Law
The U.S. government has appealed a Texas federal judge's order that halted the rollout of new reporting requirements aimed at unmasking anonymous shell companies, setting the stage for the Fifth Circuit to weigh in on the nationwide preliminary injunction.
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December 06, 2024
Canada's Chinese Import Surtaxes Expected To Raise $334M
Canada's new surtaxes on Chinese electric vehicles and steel and aluminum products are estimated to generate CA$473 million ($334 million) over the next five years, though the EV surtax on its own is likely to cause a dip in revenue, a government analysis said.
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December 06, 2024
Biz Owner In $2.8M Worker Tax Scheme Asks To Avoid Prison
A construction company owner who admitted skirting $2.8 million in employment taxes by claiming that his workers were subcontractors, including one who fell to his death on a job, asked a Massachusetts federal court Friday for a sentence of home confinement rather than prison.
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December 06, 2024
Taxation With Representation: Skadden, Gibson Dunn
In this week's Taxation With Representation, BlackRock buys HPS Investment Partners, TreeHouse Foods Inc. buys Harris Tea, Aya Healthcare acquires Cross Country Healthcare, and Bruin Capital launches a soccer representation business.
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December 05, 2024
Ohio Court Affirms Nix Of Bid To Double $42M Property Value
An effort to nearly double the $42 million taxable value of a property to its recent sale price was correctly dismissed, an Ohio state appeals court said, upholding a state law barring complaints based on the untimeliness of a sale.
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December 05, 2024
11th Circ. Won't Rethink $100M Credit For John Hancock
The Eleventh Circuit won't reconsider its decision to let John Hancock Life Insurance Co. keep $100 million in foreign tax credits, leaving in place its October ruling against a Florida law firm retirement plan's trustees.
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December 05, 2024
Ariz. Parcel's Improvements Have No Value, Tax Court Says
The improvements to an industrial parcel in Arizona have no value, the state tax court ruled, agreeing with the owner that a county assessor's valuation of the property was excessive.
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December 04, 2024
GAO Finds Limited Oversight, Data On Crypto In 401(k)s
Though crypto assets make up a small part of the 401(k) market, their limited federal oversight might leave workers responsible for monitoring the volatile investment options, according to a report released Wednesday by the U.S. Government Accountability Office.
Expert Analysis
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Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
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Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
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The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
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Opinion
Tariffs' Economic Downsides Outweigh Potential Revenue
Import tariffs proposed by the campaign of former president Donald Trump would generate revenue like other taxes, but policymakers must consider the net-negative impact of associated consumer and downstream-industry costs, harm to exporters, potential foreign retaliation and reduction in economic output, says Erica York at the Tax Foundation.
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Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
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Navigating The Last Leg Of The Worker Retention Tax Credit
Whether a business has applied for the pandemic-era employee retention tax credit, received a denial letter or is still considering making a claim before the April 15 deadline, it should examine recent developments significantly affecting the program before planning next steps, say attorneys at Nixon Peabody.
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Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.
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How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.
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Series
Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.
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Use The Right Kind Of Feedback To Help Gen Z Attorneys
Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.
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Opinion
Congress Can And Must Enact A Supreme Court Ethics Code
As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.
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What To Make Of Dueling Corporate Transparency Act Rulings
Although challenges to the Corporate Transparency Act abound — as highlighted by recent federal court decisions from Alabama and Oregon taking opposite positions on its constitutionality — the act is still law, so companies should comply with their filing requirements or face the potential consequences, say attorneys at Lowenstein Sandler.
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Series
The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan
Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.
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State Of The States' AI Legal Ethics Landscape
Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.
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8 Childhood Lessons That Can Help You Be A Better Attorney
A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.