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Tax
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August 06, 2024
Ayahuasca Church Asks DC Circ. To Rethink Tax Status
An Iowa church that used a psychedelic drug in its rites asked the D.C. Circuit for an en banc rehearing after a panel determined the church was correctly denied tax-exempt status since its main purpose was using a federally illegal drug.
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August 06, 2024
NC Software Execs Can't Unravel Payroll Tax Fraud Conviction
Two former software executives found guilty of failing to pay over $600,000 in employment taxes failed to clear a steep hurdle in trying to reverse their convictions, a North Carolina federal judge said in rejecting their bid for acquittal or a new trial.
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August 06, 2024
Arnold & Porter Adds Abramson Cancer Center Chief Counsel
Throughout her career and while working in progressive leadership roles for the Abramson Cancer Center at the University of Pennsylvania, Mir Masud-Elias, Arnold & Porter Kaye Scholer LLP's newest counsel, has asked herself the same question: Is this role the best use of her time on Earth?
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August 06, 2024
Austria Records 'Problematic' Rise In Fake Companies
Fake companies are on the rise in Austria, the country's Finance Ministry said Tuesday, adding that it hoped that a newly agreed-to law against tax evasion and fraud could reverse the trend.
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August 05, 2024
Latest Draft Widens Scope Of UN Tax Convention
Diplomats would gain flexibility on the scope, commitments and source material of a United Nations convention on international tax cooperation under a revised guidance for negotiators released ahead of a debate Monday as preliminary talks inch closer to finishing.
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August 05, 2024
EU Court To Hear Czech Value-Added Tax Case
The Court of Justice of the European Union will consider a case from the Czech Republic concerning whether the bloc's value-added tax system and proportionality principle precludes a Czech law regarding the transfers of VAT payment liabilities, the EU said Monday.
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August 05, 2024
Dems Unearth Another Thomas Trip Paid For By Harlan Crow
U.S. Supreme Court Justice Clarence Thomas took a previously undisclosed trip between Hawaii and New Zealand on a billionaire Republican donor's private jet in 2010, lawmakers revealed in a letter Monday that offered the donor a "final opportunity" to explain how that trip and others don't constitute a tax fraud scheme.
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August 02, 2024
HFZ Capital Cops To $86M Fraud Charges, Blames Ex-Chief
Defunct real estate firm HFZ Capital Group pled guilty in an $86 million criminal case Friday, admitting that its former top executive Nir Meir evaded New York City property taxes and stole funds from commercial and residential building projects.
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August 02, 2024
Colo. Appeals Panel Rejects Lower Tax Rate For Hospital
A Colorado rehabilitation hospital should be classified as a commercial property for tax purposes because it was predominantly designed for its services and not for residency, a state appeals court said, reversing a state assessment board.
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August 02, 2024
St. Louis Attys Can't Get Acquittal In $4M Tax Avoidance Case
Two Missouri-based attorneys, a father and daughter duo found guilty of participating in a $4 million tax avoidance scheme, will not be granted a new trial or an acquittal, despite their assertions that a number of errors tainted their trial, a North Carolina federal judge ruled Friday.
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August 02, 2024
Manhattan DA Slams Trump's 'Regurgitated' Recusal Bid
The Manhattan district attorney pilloried Donald Trump's renewed request for the judge overseeing his hush money case to recuse himself, branding it a "regurgitated" attempt to rehash issues the court already decided without any new facts — besides Kamala Harris' presidential bid.
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August 02, 2024
Ex-Loeb Tax Atty Latest Addition To Kilpatrick's NY Team
A former Loeb & Loeb LLP attorney is bringing his experience in U.S. federal tax matters and real estate transactions to Kilpatrick Townsend & Stockton LLP, the firm announced Thursday.
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August 02, 2024
Sister-In-Law Ordered To Testify In Hunter Biden Tax Case
A California federal judge ordered Hunter Biden's sister-in-law, with whom he was romantically involved, and her sister to testify at his upcoming criminal trial in which he is accused of scheming to avoid paying $1.4 million in taxes.
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August 02, 2024
Aussie Panel Opposes Aligning Public Tax Reporting With EU
The benefits of Australia's public country-by-country reporting bill would diminish if it were limited to jurisdictions covered by the European Union's regime, as businesses have requested, the Australian Senate's economics committee reported Friday.
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August 02, 2024
Ohio Board Finds Park's Oil, Gas Production Area Tax Exempt
Space at a park in Ohio that is leased to a private entity to produce oil and gas is entitled to a property tax exemption, the state Board of Tax Appeals ruled Friday, saying the lessee's operations were incidental to the park's public purpose.
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August 02, 2024
Taxation With Representation: Sullivan, Dechert, Kirkland
In this week's Taxation With Representation, BNP Parabis SA acquires an investment management subsidiary for €5.1 billion, Cleveland accounting firm CBIZ merges with competitor Marcum for $2.3 billion, and Arcosa Inc. inks a deal with a family-owned construction materials business for $1.2 billion.
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August 01, 2024
Feds Want Full Sentence Kept In Fla. Illegal Employment Case
The U.S. urged a Florida federal court on Thursday to uphold the three-year prison sentence of a labor staffing company operator convicted in a conspiracy to hire migrants not authorized to work in the U.S., saying he's ineligible for a reduction because of his admitted role in the scheme.
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August 01, 2024
DOJ Unveils Whistleblower Pilot, But Garners Atty Criticism
The U.S. Department of Justice on Thursday officially launched its pilot program to reward whistleblowers who alert prosecutors to significant corporate misconduct, although some whistleblower attorneys decried the program's award caps and what they described as its lack of enforceability.
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August 01, 2024
Divided Tax Court Says Treaty Bars Collections Hearing
A divided U.S. Tax Court ruled Thursday that it lacked authority to review an Internal Revenue Service decision preventing a woman from challenging a federal tax lien the agency issued on behalf of the Canadian government to secure her tax debt to that country.
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August 01, 2024
Chipotle Bundled 'Service Fee' With Tax To Hide It, Suit Says
Chipotle customers filed a proposed false advertising class action in California federal court Wednesday accusing the fast-casual Mexican chain of tacking on secret "eye-popping service fees" bundled with a "tax" for online delivery orders at the end of the checkout process that purportedly ends up in Chipotle's own coffers.
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August 01, 2024
Direct File Will Be Available In New Mexico, IRS Announces
New Mexico will participate in the Internal Revenue Service's free electronic tax return filing program known as Direct File in the 2025 tax filing season, the agency and the U.S. Department of the Treasury announced Thursday.
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August 01, 2024
Airbnb's $1.3B Bill From IRS Overvalues IP, Tax Court Told
Airbnb is challenging a $1.3 billion tax bill tied to income the IRS allocated from overseas, telling the U.S. Tax Court the agency overvalued intellectual property the home-rental giant licensed to its Irish affiliate before going public.
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August 01, 2024
Court Won't Stop FTC Judges In H&R Block False Ad Fight
The Federal Trade Commission can proceed with its hearing against H&R Block accusing the tax preparation firm of false advertising, a Missouri federal judge ruled Thursday, rejecting the company's argument that the agency's administrative law judges lack constitutional authority to preside.
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August 01, 2024
3rd Circ. Affirms Nix Of Discovery Ask On GM In Brazil Case
A Delaware federal court didn't abuse its discretion by declining to begin discovery on General Motors to aid ongoing litigation in Brazil for a group that is entitled to receive dozens of car dealerships' tax credits from the early 1990s, the Third Circuit found.
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August 01, 2024
NY Appeals Court Upholds Trump Gag Order
A New York appeals court on Thursday rejected Donald Trump's bid to strike down a gag order that bars him from threatening court and district attorney staff in his criminal hush money case ahead of his scheduled sentencing next month, as the former president renewed his bid to vacate his conviction following the U.S. Supreme Court's immunity ruling.
Expert Analysis
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How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.
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Navigating New Safe Harbor For Domestic Content Tax Credits
The U.S. Department of the Treasury’s recent notice simplifying domestic content calculations for certain solar, onshore wind and battery storage projects, which directly acknowledges the difficulty for taxpayers in gathering data to support a domestic content analysis, should make it easier to qualify additional domestic content bonus tax credits, say attorneys at A&O Shearman.
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Firms Must Rethink How They Train New Lawyers In AI Age
As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.
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'Energy Communities' Update May Clarify Tax Credit Eligibility
A recent IRS notice that includes updated lists of locations where clean energy projects can qualify for additional tax credits — based 2023 unemployment data and placed-in-service dates — should help provide clarity regarding project eligibility that sponsors and developers need, say attorneys at Troutman Pepper.
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Think Like A Lawyer: Always Be Closing
When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.
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Series
Playing Chess Makes Me A Better Lawyer
There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.
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Calif. Budget Will Likely Have Unexpected Tax Consequences
A temporary suspension of net operating loss deductions and business incentive tax credits, likely to be approved on June 15 as part of California’s next budget, may create unanticipated tax liabilities for businesses that modeled recently completed transactions on current law, says Myra Sutanto Shen at Wilson Sonsini.
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Litigation Inspiration: Attys Can Be Heroic Like Olympians
Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.
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Lean Into The 'Great Restoration' To Retain Legal Talent
As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.
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How Cannabis Rescheduling May Alter Paraphernalia Imports
The Biden administration's recent proposal to loosen federal restrictions on marijuana use raises questions about how U.S. Customs and Border Protection enforcement policies may shift when it comes to enforcing a separate federal ban on marijuana accessory imports, says R. Kevin Williams at Clark Hill.
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NCAA Settlement May End The NIL Model As We Know It
The recent House v. NCAA settlement in California federal court, in which the NCAA agreed to allow schools to directly pay March Madness television revenue to their athletes, may send outside name, image and likeness collectives in-house, says Mike Ingersoll at Womble Bond.
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Series
Fishing Makes Me A Better Lawyer
Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge at Robinson Bradshaw.
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Penn. Right-To-Know Case Raises Record-Access Precedent
The Pennsylvania Supreme Court recently held that the nonprofit Pennsylvania Interscholastic Athletic Association was subject to the state's Right-To-Know Law, establishing an expansion that allows access to public records of organizations that perform work or have some role associated with statewide governance, says Delene Lantz at Saul Ewing.
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A Healthier Legal Industry Starts With Emotional Intelligence
The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.
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To Make Your Legal Writing Clear, Emulate A Master Chef
To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.