Tax

  • June 20, 2024

    China Denies Tax Crackdown As 2 Cos. Report $80M In Bills

    China's tax authority denied a nationwide crackdown on companies' old tax returns Thursday, less than a week after a chemical firm facing 500 million yuan ($69 million) in additional liabilities halted production and a beverage maker reported owing 85 million yuan.

  • June 20, 2024

    Ore. Water Treatment Plant Not On Farmland, Tax Court Says

    Portions of farmland used for a wastewater treatment facility were correctly denied a special farm-use assessment rate, the Oregon Tax Court said, allowing the special rate for other contested areas of the property.

  • June 20, 2024

    Ind. Car Wash Valued Correctly, State Tax Board Says

    An Indiana car wash was correctly valued by the local tax board as the property owner failed to provide market evidence to support a reduction in its assessment, the state tax review board determined.

  • June 20, 2024

    Casinos Must Fight Hotel Tax In State Court, 5th Circ. Says

    Owners of two Louisiana casinos with attached hotels must challenge Baton Rouge in state court, rather than federal court, over taxes the city says they owe on free hotel stays they gave patrons, the Fifth Circuit ruled, saying the state is entitled to deference.

  • June 20, 2024

    Dickinson Wright Brings On McDermott, Bell Nunnally Attys

    Dickinson Wright PLLC added a pair of new members who include a commercial finance and real estate attorney from Bell Nunnally & Martin LLP based in Austin, Texas, and a tax and incentives attorney from McDermott Will & Emery LLP in Fort Lauderdale, Florida.

  • June 20, 2024

    Tax Preparer With $38M In Refunds Cops To S-Corp. Scam

    The owner of a tax preparation business that secured $38 million in federal refunds for customers pled guilty to helping prepare false returns and admitted he required clients to establish empty corporations to lower their tax bills illegally, according to his plea agreement in a California federal court.

  • June 20, 2024

    Repatriation Tax Doesn't Violate Constitution, Justices Rule

    The U.S. Supreme Court upheld the 2017 federal tax overhaul's mandatory repatriation levy on Thursday, finding the measure applies to the earnings of foreign corporations with U.S. shareholders and therefore does not raise constitutional questions about taxing unrealized income. 

  • June 18, 2024

    The 2 Attys Ensnared In A NJ Mogul's Racketeering Rap

    New Jersey businessman George E. Norcross III may be the alleged mastermind of a racketeering scheme to reap millions in tax credits on waterfront property in a distressed city, but the explosive indictment also reveals the purported roles of two attorneys with close ties to the Democratic Party.

  • June 18, 2024

    Connecticut Atty Spared Disbarment After Tax Crimes

    A Connecticut federal judge has indefinitely suspended an attorney convicted of filing false tax returns and failing to pay taxes while spending millions on himself, agreeing with both the attorney and the local federal grievance committee that a punishment less severe than disbarment was warranted.

  • June 18, 2024

    NY High Court Denies Trump's Gag Order Appeal

    New York state's highest court on Tuesday denied Donald Trump's rapid appeal of the gag order that limited his speech during his criminal hush money trial, finding it did not raise serious constitutional issues.

  • June 18, 2024

    Treasury Finalizes Labor Rules For Bonus Energy Tax Credits

    The U.S. Treasury Department released final labor rules Tuesday for clean energy projects seeking to significantly boost the value of their tax credits, emphasizing due diligence by developers and announcing that more IRS resources will go toward enforcement of the rules.

  • June 17, 2024

    Bouncer Admits To Promoting Prostitution After $5.7M Sting

    A 41-year-old bouncer at a Connecticut strip club pled guilty Monday to facilitating prostitution and received a promise from the prosecution to recommend a reduced sentence as authorities press separate cases against a club boss who allegedly hid $5.7 million in income without reporting it to the Internal Revenue Service.

  • June 17, 2024

    $2.1B Danish Tax Fraud Defendant Pushes For Separate Trials

    An attorney facing trial alongside his clients on allegations of filing $2.1 billion in fraudulent tax refund claims in Denmark urged a New York federal court to hear his case separately, saying disparate legal arguments could confuse a jury if only one trial is held.

  • June 17, 2024

    OECD Tax Plan Is Developing Nations' Best Choice, Prof Says

    Developing countries could gain more revenue from the OECD's multilateral plan to tax the digital economy than the U.N. Tax Committee's bilateral alternative because they have small treaty networks, many customers and few large companies, an academic argued Monday during an Oxford University panel.

  • June 17, 2024

    IRS Asks Court To Leave Alone Worker Retention Credit Pause

    An Arizona federal court should reject a tax advisory firm's request to lift the IRS' moratorium on processing claims for the pandemic-era employee retention credit, the agency argued, saying the agency should be allowed to continue to run the program as it sees fit.

  • June 17, 2024

    Feds Take Hard Line On Tycoon's Pilots After He Goes Free

    Manhattan federal prosecutors asked a sentencing judge to consider aggravating circumstances for two pilots who allegedly traded on stock tips from U.K. billionaire Joe Lewis, despite not seeking a prison term for the private equity honcho and former soccer club owner.

  • June 17, 2024

    Mich. Justice Wants Tax-Break Filing Options After Mail Fiasco

    A Michigan Supreme Court justice called on the state Legislature to give taxpayers more flexibility in claiming property tax exemptions after a company lost out on an exemption because the U.S. Postal Service never delivered its paperwork.

  • June 17, 2024

    NJ Power Broker, Firm CEO Brother Accused Of Racketeering

    Powerful New Jersey businessman George E. Norcross III and his brother who is the chief executive officer of law firm Parker McCay have been criminally charged alongside others in a scheme to acquire waterfront property in the distressed city of Camden using threats of economic and reputational harm.

  • June 14, 2024

    Ga. CPA Admits To Role In $1.3B Tax Fraud Scheme

    After a federal jury convicted two of his co-conspirators in a landmark conservation easement tax shelter trial last year, a Georgia accountant who'd previously denied culpability elected to change course Friday and plead guilty to two felony charges.

  • June 14, 2024

    5th Circ. Says Jury Instructions Deeply 'Flawed' In Tax Suit

    A Fifth Circuit panel has found that the jury instructions for a $580,000 tax dispute were "irredeemably flawed," vacating the verdict and handing a loss to a partnership that claimed it had reasonable cause for its tax filing problems due to an employee's mental health issues.

  • June 14, 2024

    US Urges 5th Circ. To Back $2M Tax Bill For Tire Imports

    The Fifth Circuit should overturn a lower court's ruling that a Houston truck company was not an importer responsible for nearly $2 million in excise taxes on tires it bought from a Chinese manufacturer, the U.S. told the Fifth Circuit on Friday.

  • June 14, 2024

    Mining Co. Entity Can't Deduct Loan Interest, UK Court Says

    A U.S. mining company's entity in the U.K. that was created to save taxes through the acquisition of a Texas-based firm cannot overturn the Upper Tribunal's decision that its U.K tax deductions weren't deserved, according to a Court of Appeal judgment.

  • June 14, 2024

    Brazil Telecom Tower Investor Sues For Delaware Litigation

    A Mexican investor with a small equity position in a Delaware limited partnership that builds and operates telecommunications towers in Brazil sued the partnership in Delaware's Court of Chancery Friday for injunctive relief, seeking to ensure that any litigation with the partnership or its affiliates takes place in the First State and not Brazil.

  • June 14, 2024

    Full DC Circ. Won't Hear Foreign Disclosure Penalty Dispute

    The D.C. Circuit declined to reconsider its ruling overturning a major U.S. Tax Court decision that had crimped the administrative collection arm of the Internal Revenue Service, letting stand a panel's restoration of the agency's power to more freely penalize undisclosed foreign corporations.

  • June 14, 2024

    UK Broker Denied Supreme Court Hearing Over Cum Ex Raids

    Judges at a London court refused on Friday to allow a brokerage to challenge at the U.K. Supreme Court findings that a raid on its London office during an investigation into tax fraud in 2022 was legal, finding that the "outcome of any appeal would be no different."

Expert Analysis

  • Series

    Spray Painting Makes Me A Better Lawyer

    Author Photo

    My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.

  • A Legal Playbook For Stadium Construction Agreements

    Author Photo

    As a new wave of construction in the professional sports arena space gets underway, owners must carefully consider the unique considerations and risks associated with these large-scale projects and draft agreements accordingly, say attorneys at Akerman.

  • Opinion

    Judicial Independence Is Imperative This Election Year

    Author Photo

    As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.

  • Series

    Riding My Peloton Bike Makes Me A Better Lawyer

    Author Photo

    Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

    Author Photo

    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • What Recent Study Shows About AI's Promise For Legal Tasks

    Author Photo

    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • How FinCEN Proposal Expands RE Transaction Obligations

    Author Photo

    Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.

  • What To Know About Employee Retention Credit Disclosures

    Author Photo

    Employers that filed potentially erroneous employee retention credit claims should take certain steps to determine whether the IRS’ voluntary disclosure program is a good fit and, if so, prepare a strong application before the window closes on March 22, say attorneys at Dentons.

  • Litigation Inspiration: A Source Of Untapped Fulfillment

    Author Photo

    As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.

  • Unpacking FinCEN's Proposed Real Estate Transaction Rule

    Author Photo

    Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.

  • Series

    Skiing Makes Me A Better Lawyer

    Author Photo

    A lifetime of skiing has helped me develop important professional skills, and taught me that embracing challenges with a spirit of adventure can allow lawyers to push boundaries, expand their capabilities and ultimately excel in their careers, says Andrea Przybysz at Tucker Ellis.

  • Think Like A Lawyer: Forget Everything You Know About IRAC

    Author Photo

    The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.

  • The Corporate Transparency Act Isn't Dead Yet

    Author Photo

    After an Alabama federal court's ruling last week rendering the Corporate Transparency Act unconstitutional, changes to the law may ultimately be required, but ongoing compliance is still the best course of action for most, says George Singer at Holland & Hart.

  • How New EU Tax And Transfer Pricing Rules May Affect M&A

    Author Photo

    Companies involved in mergers and acquisitions may need to adjust fiscal due diligence procedures to ensure they consider potential far-reaching effects of newly implemented transfer pricing measures, such as newly implemented global minimum tax and European Union anti-tax avoidance directives and proposals, says Patrick Tijhuis at BDO.

  • Employers, Prep For Shorter Stock Awards Settlement Cycle

    Author Photo

    Companies that provide equity compensation in the form of publicly traded stock will soon have one less day to complete such transactions under U.S. Securities and Exchange Commission and Nasdaq rules — so employers should implement expedited equity compensation stock settlement and payroll tax deposit procedures now, say attorneys at Morgan Lewis.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Tax archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!