Tax

  • May 01, 2024

    T-Mobile Gets Tax Reimbursement Suit Tossed For Good

    T-Mobile has convinced a New Jersey federal court to toss for good a suit brought by a middleman seeking to collect tax reimbursements the mobile behemoth had supposedly promised a landlord after it didn't fix the deficiencies in its suit the third go round.

  • May 01, 2024

    Senate Dems Reintroduce Bill To Tax And Regulate Cannabis

    Senate Democrats on Wednesday reintroduced a cannabis legalization bill that would remove the drug entirely from the ambit of the Controlled Substances Act and impose a tax-and-regulate scheme akin to what is currently in place for alcohol and tobacco.

  • May 01, 2024

    Colo. House OKs Tax Credits For Middle-Income Housing

    The Colorado House approved a pilot program Wednesday to provide a tax credit to developers of housing aimed at middle-income residents

  • May 01, 2024

    No Relief For Fla. Adviser Convicted In $80M Trading Scam

    The Eleventh Circuit on Wednesday affirmed the conviction of a Florida investment adviser who bilked more than $80 million from the hundreds of people he persuaded to invest in a fraudulent company, after concluding he was not in custody when he made statements to the police.

  • May 01, 2024

    Middle East, North African Gov'ts Back UN For Corp. Tax Talks

    Governments should make a high-level commitment to address corporate tax reform within the United Nations' framework convention on international tax cooperation, an intergovernmental group of Middle Eastern and North African countries said Wednesday.

  • May 01, 2024

    Ex-NFL Star Romanowski Files For Ch. 11 Amid $15M Tax Suit

    Ex NFL star and Super Bowl champion Bill Romanowski has filed for Chapter 11 protection in California after being slapped with a $15.5 million income tax suit.

  • May 01, 2024

    UN Must Improve Corp. Tax Rules, Platforms, Some Gov'ts Say

    Governments must commit to improving existing corporate tax rules and platforms created at the OECD within the terms of reference for a United Nations framework convention on global tax cooperation, two tax officials who participated in drafting those rules said Wednesday.

  • May 01, 2024

    Metal Biz Owner Cops To Tax Fraud On $2.8M Income

    The owner of a metal fabrication company admitted to neglecting to report nearly $3 million in business income to the IRS, Connecticut federal prosecutors announced.

  • May 01, 2024

    In Trump Staredown With NY Judge, 'Somebody Has To Blink'

    Experts say Donald Trump will likely continue to ignore warnings from the court, and possibly his own attorneys, as his Manhattan hush money trial resumes Thursday with a fresh set of arguments over the presumptive Republican presidential nominee's out-of-court statements.

  • May 01, 2024

    Billionaire Energy Co. Founder Sues Booz Allen Over IRS Leak

    Energy Transfer co-founder Kelcy Warren accused government contractor Booz Allen Hamilton of failing to supervise an employee who stole Warren's private tax information and that of thousands of other wealthy people while on assignment at the IRS, according to a complaint in Maryland federal court.

  • May 01, 2024

    Colo. House OKs $650M Child Income Tax Credit

    Colorado would create income tax credits for people with children that could total more than $650 million annually under legislation passed Wednesday by the state House of Representatives.

  • May 01, 2024

    Overtime Theft Scheme Earns Ex-Mass. Trooper 3 Years

    The former second-in-command of a Massachusetts state police traffic safety unit was sentenced to three years in prison for his role in a widespread conspiracy to steal federally funded overtime through no-work shifts.

  • May 01, 2024

    Tax Credit Transfer Regs Show IRS Caution In Rulemaking

    The IRS and Treasury's final rules on the sale and transfer of green energy credits maintained a strict reading of the statute while making few changes, a sign of caution by regulators amid judicial scrutiny of the government's rulemaking authority.

  • May 01, 2024

    Celeb Charity Says Law Firm Partner Went Rogue, Leaked Info

    The nonprofit responsible for handling more than $8 million donated to NFL safety Damar Hamlin following his on-field cardiac arrest has lodged a suit in Illinois federal court against its former counsel, claiming a lawyer leaked private documents to the press as retribution for his firing after publicizing faulty information.

  • April 30, 2024

    Ex-Autonomy VP Says CEO Lynch Told Him To Lie To Investors

    A former Autonomy business development executive testified Tuesday that CEO Mike Lynch directed him to lie to a hedge fund investor about prepaid royalty deals that boosted the company's upfront revenue numbers, saying at Lynch's criminal fraud trial that it was hard to say no to the "big boss."

  • April 30, 2024

    TracFone Must Pay Wash. City's Utility Tax

    Prepaid phone businesses are utilities and can be taxed as such under Washington state law, according to a state appeals court that had been posed such a question as part of a dispute between TracFone and a Seattle suburb.

  • April 30, 2024

    'Bitcoin Jesus' Dodged Nearly $50M In Taxes, Feds Say

    The U.S. has charged an early bitcoin investor dubbed "Bitcoin Jesus" over allegations that he dodged approximately $48 million in taxes by filing false tax returns and concealing how much of the cryptocurrency he owned, according to an announcement from the U.S. Department of Justice on Tuesday.

  • April 30, 2024

    Atty Tells Trump Jury That Hush Money Deal Almost Tanked

    An attorney who previously represented adult film star Stormy Daniels told jurors Tuesday in the New York criminal trial of Donald Trump about how the $130,000 hush money agreement at the heart of the case was nearly derailed after former Trump lawyer Michael Cohen would not close the deal.

  • April 30, 2024

    Skadden, Latham Lead Travel Firm Viking's Upsized $1.5B IPO

    Private equity-backed cruise operator Viking Holdings Ltd. on Tuesday priced an upsized $1.5 billion initial public offering within its price range, represented by Skadden Arps Slate Meagher & Flom LLP and underwriters counsel Latham & Watkins LLP, marking the largest IPO of 2024. 

  • April 30, 2024

    Drug Company Can't Escape Texas Counties' Opioid MDL

     A Texas appeals court on Tuesday declined to cut loose a New Jersey-based pharmaceutical manufacturer from Texas multidistrict litigation over opioid addiction in the state, finding that the counties of Dallas and Bexar have demonstrated that it's made deliberate moves toward the Texas market.

  • April 30, 2024

    Colo. Beats Challenge To Fees In Transportation Funding Law

    A conservative group has not shown that fees passed in a 2021 transportation funding package in Colorado exceeded the legislature's taxing authority, a state judge said, throwing out the group's challenge to the fees.

  • April 30, 2024

    Crypto Exec Denies $2B Laundering Charges, Is Out On Bail

    The CEO of crypto mixer Samourai Wallet has pled not guilty to charges he helped facilitate over $2 billion in illegal transactions and was released on $1 million bail after surrendering to federal authorities voluntarily.

  • April 30, 2024

    German Banker Gets 3 Years For €93M Cum-Ex Tax Evasion

    A German court on Tuesday sentenced a former bank board member to three years and two months in prison for his part in a €93.4 million ($100 million) so-called cum-ex dividend tax fraud.

  • April 30, 2024

    Attys, Broker Can't Escape $4M Tax Fraud Convictions

    A North Carolina federal judge has denied acquittal requests from two tax attorneys and an insurance agent who were convicted for their roles in a $4 million tax avoidance scheme, saying he agreed with federal prosecutors who argued there was sufficient evidence for the underlying charges.

  • April 30, 2024

    Feds Endorse Easing Marijuana Status In Big Policy Shift

    Federal drug enforcers will recommend loosening restrictions on cannabis for the first time since the drug was made federally illegal decades ago, the U.S. Department of Justice announced Tuesday.

Expert Analysis

  • 5 Ways Firms Can Rethink Office Design In A Hybrid World

    Author Photo

    As workplaces across the country adapt to flexible work, law firms must prioritize individuality, amenities and technology in office design, says Kristin Cerutti at Nelson Worldwide.

  • Flawed Analysis Supports Common Law Tax Deficiency Ruling

    Author Photo

    The Colorado federal district court’s recent decision in Liberty Global, holding that the U.S. Department of Justice may assert a common law tax claim without the notice of tax deficiency required by the Internal Revenue Code, relies on a contorted reading of the statute and irrelevant case law, say Loren Opper and Christie Galinski at Miller Canfield.

  • Opinion

    Bar Score Is Best Hiring Metric Post-Affirmative Action

    Author Photo

    After the U.S. Supreme Court's ruling striking down affirmative action admissions policies, law firms looking to foster diversity in hiring should view an applicant's Multistate Bar Examination score as the best metric of legal ability — over law school name or GPA, says attorney Alice Griffin.

  • Review Of Repatriation Tax Sets Justices On Slippery Slope

    Author Photo

    The U.S. Supreme Court’s recent decision to review the constitutionality of the repatriation tax in Moore v. U.S. has implications for many tax rules involving unrealized amounts and could leave the court on the brink of invalidating large swaths of the Internal Revenue Code, say attorneys at Eversheds Sutherland.

  • Ghosting In BigLaw: How To Come Back From Lack Of Feedback

    Author Photo

    Junior associates can feel powerless when senior colleagues cut off contact instead of providing useful feedback, but young attorneys can get back on track by focusing on practical professional development and reexamining their career priorities, says Rachel Patterson at Orrick.

  • Steps To Success For Senior Associates

    Excerpt from Practical Guidance
    Author Photo

    Adriana Paris at Rissman Barrett discusses the increased responsibilities and opportunities that becoming a senior associate brings and what attorneys in this role should prioritize to flourish in this stressful but rewarding next level in their careers.

  • How To Avoid A Zombie Office Building Apocalypse

    Author Photo

    With national office vacancy rates approaching 20%, policymakers, investors and developers will need to come together in order to prevent this troubling trend from sucking the life out of business districts or contaminating the broader real estate market, say Ryan Sommers and Robyn Minter Smyers at Thompson Hine.

  • Legal Profession Must Do More For Lawyers With Disabilities

    Author Photo

    At the start of Disability Pride month, Rosalyn Richter at Arnold & Porter looks at why lawyers with disabilities are significantly underrepresented in private practice, asserting that law firms and other employers must do more to conquer the implicit bias that deters attorneys from seeking accommodations.

  • Ohio Tax Talk: Building On Federal Affordable Housing Credit

    Author Photo

    Ohio's soon-to-be-implemented low-income housing tax credit could significantly affect the state's affordable housing landscape and influence tax-credit deal financing for these projects, though Senate changes may have dampened the new credit's immense potential, say Raghav Agnihotri and Rachael Chamberlain at Frost Brown.

  • Opinion

    Appellate Funding Disclosure: No Mandate Is Right Choice

    Author Photo

    The Advisory Committee on Appellate Rules' recent decision, forgoing a mandatory disclosure rule for litigation funding in federal appeals, is prudent, as third-party funding is only involved in a minuscule number of federal cases, and courts have ample authority to obtain funding information if necessary, says Stewart Ackerly at Statera Capital.

  • Opinion

    LA's High-Value Real Estate Transfer Tax Should Be Scrapped

    Author Photo

    Los Angeles’ recently implemented high-value property transfer tax has chilled the real estate market, is failing to meet revenue expectations and raises significant constitutional concerns, making it a flawed piece of legislation that should be invalidated, says attorney Paul Weinberg.

  • Avoiding Negative Tax Consequences In Loan Modifications

    Author Photo

    Borrowers who may be caught in the dramatic uptick in nonperforming commercial real estate loans should consider strategies to avoid income and capital gains tax that may be triggered by loan modifications, says Aman Badyal at Glaser Weil.

  • How Attys Can Avoid Exposing Their Firms To Cyberattacks

    Author Photo

    Attorneys are the weakest link in their firms' cyberdefenses because hackers often exploit the gap between individuals’ work and personal cybersecurity habits, but there are some steps lawyers can take to reduce the risks they create for their employers, say Mark Hurley and Carmine Cicalese at Digital Privacy & Protection.

  • Chapter 100 Incentives Can Offer Relief For Mo. Solar Projects

    Author Photo

    Although the Missouri Supreme Court's decision last year in Johnson v. Springfield Solar 1 overturned the state's tax exemption for solar energy systems, solar developers may still be able to use other mechanisms, like Chapter 100 incentives, to offset project costs, say Lizzy McEntire and Anna Kimbrell at Husch Blackwell.

  • Virginia 'Rocket Docket' Slowdown Is Likely A Blip

    Author Photo

    After being the fastest or second-fastest federal civil trial court for 14 straight years, the Eastern District of Virginia has slid to 18th place, but the rocket docket’s statistical tumble doesn't mean the district no longer maintains a speedy civil docket, says Robert Tata at Hunton.

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!