Tax

  • December 20, 2024

    Top North Carolina Cases Of 2024: Bias, Fraud And False Ads

    North Carolina saw a host of heavy-hitting civil trials in 2024, from back-to-back multimillion-dollar jury verdicts in suits over false advertising and employment discrimination, to a substantial bench ruling in a much-watched bias suit against the federal judiciary.

  • December 19, 2024

    Outgoing Wash. Gov. Proposes Wealth Tax In Budget

    Washington state would levy a 1% tax on residents with worldwide wealth of more than $100 million and increase taxes on businesses under a budget proposal from outgoing Gov. Jay Inslee.

  • December 19, 2024

    Biz Owners Ask 11th Circ. To Revive Tax Penalty Challenge

    Owners of an electronic parts company whose reprieve from a $345,000 tax penalty was revoked by the U.S. Tax Court in light of an Eleventh Circuit ruling have asked the appeals court to reconsider its stance and to determine that Tax Court judges have unconstitutional job protections.

  • December 19, 2024

    Denmark Says $500M Recovered In Dividend Tax Fraud Suits

    Denmark's tax administration has recovered a total of 3.6 billion Danish kroner ($500 million) in money lost to suspected dividend tax refund fraud after entering settlements of civil cases in several countries in 2024, Denmark's tax minister announced.

  • December 19, 2024

    New Jersey Power Broker Says RICO Case Isn't Fit For Jury

    Defendants dubbed the "Norcross Enterprise" are fighting back against New Jersey Attorney General Matthew Platkin's assertion that their bid to toss a criminal indictment accusing them of engaging in a sprawling racketeering scheme is out of place, claiming the state misunderstands the roles of judge and jury.

  • December 19, 2024

    5th Circ. Urged To Deny Tax Break For Doc's Captive Insurance

    A physician who owns a network of urgent care clinics was correctly denied tax deductions along with his wife for over $1 million in premiums they paid to insurance companies they owned, the government told the Fifth Circuit, saying the captive arrangements didn't qualify as insurance for tax purposes.

  • December 18, 2024

    Morrison Foerster Cites Tariffs As Key M&A Variable For 2025

    International law firm Morrison Foerster LLP is among those citing President-elect Donald Trump's tariff plans as a key wild card that could affect mergers and acquisitions deal flow in 2025, a Wednesday report from the firm shows. 

  • December 18, 2024

    Tax Shelter Defendant Charged In Investment Ploy

    Federal prosecutors have accused two men, one of whom is already facing charges of promoting tax shelters, with wire fraud and money laundering in connection with their operation of a multimillion-dollar fraudulent investment fund, according to an indictment unsealed Wednesday in Colorado federal court.

  • December 18, 2024

    Dutch Bank Exec Gave IRS Good Tax Tip, DC Circ. Judge Says

    D.C. Circuit judges grappled Wednesday with the denial of a whistleblower award to a late Dutch bank executive who tipped off the IRS to tax reporting schemes, with one judge saying during oral arguments that the executive appeared to have handed the agency "gift-wrapped" evidence of wrongdoing.

  • December 18, 2024

    EU Court Rejects Latest Challenge To Portugal's Tax Clawback

    A European court rejected a Brazilian-based company's challenge Wednesday to a European Commission ruling that Portugal must claw back tax breaks provided to companies with no local economic activity because that ran counter to commission-approved policies.

  • December 18, 2024

    IRS Pushes Some Retirement Plan Min. Distributions To 2026

    The Internal Revenue Service updated the effective date to January 2026 — instead of next year — for when some must start to withdraw the required minimum amount of funds from several types of individual retirement accounts that were amended by a December 2022 retirement savings law. 

  • December 17, 2024

    CORRECTED: Ineligible Calif. Securities Atty Accused Of Tax Crimes

    A Southern California securities attorney currently ineligible to practice law has gone over five years without filing any personal federal income tax returns, the U.S. Department of Justice alleged in announcing a recently unsealed indictment against the lawyer on Tuesday.

  • December 17, 2024

    Texas Judge Won't Pause Block Of Corp. Transparency Law

    A Texas federal judge on Tuesday denied the government's request to stay his nationwide block of a corporate transparency law while an appeal is pending, saying his view that Congress lacks the constitutional authority to enact the legislation is likely to prevail at the Fifth Circuit.

  • December 17, 2024

    Yukos Capital Opposes Stay In $5B Russia Award Suit

    The financing arm of Yukos Oil Co. urged a D.C. federal court on Monday not to pause its lawsuit looking to enforce a $5 billion arbitral award against Russia while litigation involving similar issues plays out, saying the Kremlin is needlessly dragging its feet.

  • December 17, 2024

    US Seeks Foreclosure To Pay 'Survivor' Winner's $3.3M Taxes

    A federal magistrate judge should have recommended allowing the U.S. government to foreclose on two properties it claims are controlled by a winner of the "Survivor" TV series who owes $3.3 million in taxes, the government told a Rhode Island federal court.

  • December 17, 2024

    Pa. Supreme Court Says Judge's Side Job Sinks Tax Rulings

    A Pennsylvania state judge who held a side job on a Philadelphia tax appeals board had nullified rulings he made on a local hospital's tax cases, the state's Supreme Court said Tuesday, reasoning that holding both jobs was a "constitutionally impermissible conflict of duties."

  • December 17, 2024

    IRS Corrects Proposed Admin Requirements For Direct Pay

    The Internal Revenue Service issued a correction Tuesday to proposed regulations laying out administrative requirements for tax-exempt entities to elect out of their partnership status in order to take advantage of new rules enabling direct cash payment of clean energy tax credits.

  • December 17, 2024

    Ex-Pol Can't Shake Fraud Rap Over Jury's Racial Makeup

    A Massachusetts federal judge denied a Vietnamese-American former state senator's bid to undo his conviction for unlawfully accepting unemployment assistance and filing a false tax return, rejecting claims that jury selection was tainted by "racial animus" on the part of prosecutors.

  • December 17, 2024

    Canadian Cabinet Official Takes Over Finance Minster Role

    Canada's intergovernmental affairs minister is now also the country's finance minister following the sudden resignation of the previous official to hold the post, who cited conflicting views with Prime Minister Justin Trudeau about how to respond to U.S. tariff threats.

  • December 17, 2024

    Fenwick-Led AI Startup Databricks Nets $10B In Private Round

    Venture-backed Databricks Inc. said Tuesday it raised $10 billion through a private funding that valued the artificial intelligence startup at $62 billion, represented by Fenwick & West LLP, marking the latest sign of investor enthusiasm for AI technology.

  • December 17, 2024

    Trinity International Adds Tax Expert To Paris Office

    Trinity International LLP announced the addition of an experienced tax attorney from Dentons to serve as a partner in its Paris office.

  • December 17, 2024

    Magic Runs Out For Tax Pro Who Stiffed IRS Out Of $145M

    A New York City tax preparer who earned the nickname "the magician" while depriving the IRS of $145 million in revenue copped to tax evasion on Tuesday before a Manhattan federal judge.

  • December 17, 2024

    IRS Finalizes Expanded 'Coverage Month' For Premium Credit

    The Internal Revenue Service finalized rules Tuesday that will expand the definition of a coverage month for purposes of computing the health insurance premium tax credit.

  • December 17, 2024

    Justices Urged To Let Stand Ex-Wife's Tax Payment Suit

    A woman who said the IRS wrongly applied her tax payment to her ex-husband's bill asked the U.S. Supreme Court to let stand a Third Circuit ruling allowing her to challenge it, saying the decision doesn't conflict with any other rulings and involves an issue that rarely occurs.

  • December 16, 2024

    NY Judge Denies Trump's 1st Immunity Dismissal Motion

    The New York state judge overseeing President-elect Donald Trump's hush money case denied the first of his immunity-based dismissal motions on Monday, finding that the trial evidence in the criminal case was not tainted by "official acts" evidence from his first term in office.

Expert Analysis

  • Striking A Balance Between AI Use And Attorney Well-Being

    Author Photo

    As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.

  • Takeaways From The IRS' Crypto Doc Summons Win

    Author Photo

    A recent First Circuit decision holding that taxpayers do not have a Fourth Amendment reasonable expectation of privacy in cryptocurrency transaction records should prompt both taxpayers and exchanges to take stock of past transactions and future plans, say attorneys at BakerHostetler.

  • Empathy In Mediation Offers A Soft Landing For Disputes

    Author Photo

    Experiencing a crash-landing on a recent flight underscored to me how much difference empathy makes in times of crisis or stress, including during mediation, says Eydith Kaufman at Alternative Resolution Centers.

  • Series

    Being An Artist Makes Me A Better Lawyer

    Author Photo

    My work as an artist has highlighted how using creativity and precision together — qualities that are equally essential in both art and law — not only improves outcomes, but also leads to more innovative and thoughtful work, says Sarah La Pearl at Segal McCambridge.

  • How Judiciary Can Minimize AI Risks In Secondary Sources

    Author Photo

    Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.

  • NY Tax Talk: Questions In Corporate Franchise Tax Regs Case

    Author Photo

    In the first challenge to New York's Corporate Franchise Tax regulations — Paychex v. Department of Taxation and Finance — the court has an important opportunity to provide clarity on a major retroactive application issue, say attorneys at Eversheds Sutherland.

  • How Attorneys Can Break Free From Career Enmeshment

    Author Photo

    Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.

  • Ex-Chicago Politician's Case May Further Curb Fraud Theories

    Author Photo

    The U.S. Supreme Court recently agreed to hear Thompson v. U.S. to determine whether a statement that is misleading but not false still violates federal law, potentially heralding the court’s largest check yet on prosecutors’ expansive fraud theories, with significant implications for sentencing, say attorneys at the Law Offices of Alan Ellis.

  • Lawyers With Disabilities Are Seeking Equity, Not Pity

    Author Photo

    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.

  • Opinion

    Judicial Committee Best Venue For Litigation Funding Rules

    Author Photo

    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.

  • The Strategic Advantages Of Appointing A Law Firm CEO

    Author Photo

    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.

  • Opinion

    Tariffs' Economic Downsides Outweigh Potential Revenue

    Author Photo

    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.

  • Series

    Beekeeping Makes Me A Better Lawyer

    Author Photo

    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.

  • Navigating The Last Leg Of The Worker Retention Tax Credit

    Author Photo

    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.

  • Opinion

    Legal Institutions Must Warn Against Phony Election Suits

    Author Photo

    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.

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!