Tax

  • May 31, 2024

    Trump Condemns NY Trial As Verdict Echoes In DC

    A day after his conviction on 34 felony counts, former president Donald Trump on Friday attacked the Manhattan jury's verdict in a lengthy speech that mischaracterized multiple elements of the case as the decision reverberated through Washington, D.C.

  • May 31, 2024

    Fuel Producers Should Apply ASAP For Tax Credit, IRS Says

    Fuel producers hoping to start claiming the clean fuel production credit as soon as January should register with the Internal Revenue Service by July 15, the agency said Friday, warning that registration applications made after that date are less likely to go through in time.

  • May 31, 2024

    In Rarity, 1 Party's Judges Gain 100% Control Of Circuit Bench

    At the First Circuit, the judges' robes are all black, but the judges are all blue. It's a new and unusual instance of one political party's judicial picks controlling each active seat on a federal appeals court, and the Democratic dominance could prove magnetic for ideologically charged litigation.

  • May 30, 2024

    Trump's Niece Can't Escape His Suit Over NYT Tax Story

    A New York appellate panel ruled Thursday that former President Donald Trump can pursue claims that his niece, Mary Trump, breached a confidentiality agreement by sharing his tax records with The New York Times, handing him a legal win the same day he was convicted of 34 felony counts.

  • May 30, 2024

    Chicago Kiosk Salesman Gets 1 Year For Filing False Returns

    An electronic-sweepstakes kiosk salesman from Chicago was sentenced to a year in prison for filing false tax returns that included more than $500,000 in inflated business expenses, according to Illinois federal court documents.

  • May 30, 2024

    Here's What Comes Next After Trump's Conviction

    Donald Trump's forthcoming appeal of his historic conviction Thursday in the New York hush money case could include challenges to the state's evidence and jury instructions, but it's unlikely the case will be resolved before Election Day.

  • May 30, 2024

    Gas Station Chain Owes Wash. Tax For In-Network Sales

    A Pacific Northwest gas station chain that issued fuel cards to customers must pay the Washington state business and occupation tax when holders of those cards purchase gas from other participating gas station chains, a Washington appeals court panel found, partially upholding the trial court.

  • May 30, 2024

    Tax Court Nixes $30M In Conservation Easement Deductions

    The U.S. Tax Court upheld on Thursday the IRS' rejection of more than $30 million in charitable contribution deductions for Alabama conservation easements for partnerships acting as test cases for a larger group that took $187 million in deductions.

  • May 30, 2024

    EU Court Rejects Appeal Over Spanish Port Tax Breaks

    The European Union's Court of Justice on Thursday upheld a lower court ruling that corporate tax exemptions Spain extended to seaports were illegal state aid, brushing aside arguments that a more thorough economic analysis was warranted to prove the tax breaks bestowed an unfair advantage.

  • May 30, 2024

    Donald Trump Convicted Of All 34 Counts In NY Trial

    Former President Donald Trump was convicted by a Manhattan jury Thursday of 34 felonies over a plot to illegally sway the 2016 presidential election in his favor by concealing hush money payments to porn actress Stormy Daniels.

  • May 30, 2024

    Mass. Foreclosure Law May Be Unconstitutional, Judge Says

    A Massachusetts law blocking towns and cities from returning excess funds from foreclosure sales may be an unconstitutional taking, a federal judge has said.

  • May 30, 2024

    Ex-KPMG Manager Joins Davis+Gilbert As Tax Partner

    A former managing director at KPMG has joined New York law firm Davis+Gilbert LLP as a tax partner in its corporate and transactions practice, Davis+Gilbert announced.

  • May 30, 2024

    Legal Advice On Corp. Setups Protected, ECJ Adviser Says

    A law firm's legal advice, even that concerning the setting up of a corporate investment structure, is within the scope of legal professional privilege guaranteed by European Union law, an adviser to the EU's highest court said Thursday.

  • May 30, 2024

    What The Trump Verdict Was Like From Inside The Courtroom

    Law360 reporters were providing live updates from the Manhattan criminal courthouse as a jury found Donald Trump guilty of falsifying business records. Here's a blow-by-blow of the historic verdict.

  • May 29, 2024

    NY Jury Eyes Trump Tower 'Conspiracy' As Deliberations Start

    Jurors in Donald Trump's criminal hush money trial ended their first day of deliberations Wednesday without a verdict, as the panel appeared to home in on testimony about a key 2015 meeting where the alleged scheme was hatched.

  • May 29, 2024

    Kansas Gov. Sets June Special Session On Taxes

    The Republican-led Kansas Legislature will meet in a special session June 18 to consider tax relief legislation, the state's governor said Wednesday, calling for compromise following her veto of a bill to reduce income tax rates.

  • May 29, 2024

    Colombian Court Affirms Fossil Fuel Tax Break Must Stay

    The Constitutional Court of Colombia affirmed its decision to strike down a law denying fossil fuel companies the ability to offset corporate income tax liabilities with deductions for royalty payments despite a severe impact to public finances, the country's president said.

  • May 29, 2024

    Ind. Tax Court Says Hotel In Construction Was Fairly Assessed

    An Indiana hotel that was under construction in 2010 was properly assessed despite claims that the county assessor had not assessed all unfinished commercial properties equally, the state tax court ruled.

  • May 29, 2024

    Baker McKenzie Grows Tax Practice With Ex-KPMG Adviser

    Baker McKenzie announced the hiring of an experienced Chicago-based tax adviser as a principal who most recently spent sixteen and a half years at Big Four accounting firm KPMG.

  • May 29, 2024

    Colo. Creates Tax Credit For Creative Industries Infrastructure

    Colorado established a state income tax credit for capital improvement projects that support creative industries, under legislation signed by Gov. Jared Polis.

  • May 29, 2024

    Coverage Recap: Day 1 Of Deliberations In Trump's NY Trial

    Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from the first day of deliberations Wednesday.

  • May 29, 2024

    Treasury Details Which Tech Would Get Clean Energy Credits

    Treasury released proposed rules Wednesday outlining which technologies would qualify for new zero-emission energy tax credits, saying wind, solar and geothermal are among those that would make the cut.

  • May 29, 2024

    Three EU Countries Urge Tax Reform To Boost Investment

    Three smaller European Union countries, Austria, Croatia and Slovenia, are backing tax reforms in the 27-country bloc to support investment in capital markets, including exemptions from capital gains tax for long-term retail investment products, according to a joint declaration.

  • May 28, 2024

    Google, Meta Can Arbitrate H&R Block User's Tax Data Suit

    A California federal judge on Friday ruled that a man who was previously instructed to arbitrate his proposed class action alleging that H&R Block shared private data must also arbitrate claims against Google and Meta Platforms Inc., saying the allegations against the two technology companies are closely connected to those against H&R Block.

  • May 28, 2024

    Trump Atty Calls Cohen 'MVP Of Liars' As NY Trial Closes

    Donald Trump's counsel repeatedly assailed the credibility of star witness Michael Cohen Tuesday in a final pitch to the New York jury that will decide whether to convict the former president of falsifying business records, calling Cohen "an MVP of liars" and "the human embodiment of reasonable doubt."

Expert Analysis

  • Law Firm Professional Development Steps To Thrive In AI Era

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    As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

  • Payroll Tax Evasion Notice Suggests FinCEN's New Focus

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    The Financial Crimes Enforcement Network’s recent notice advising U.S. financial institutions to report payroll tax evasion and workers' compensation schemes in the construction industry suggests a growing interest in tax enforcement and IRS collaboration, as well as increased scrutiny in the construction sector, say Andrew Weiner and Jay Nanavati at Kostelanetz.

  • The Basics Of Being A Knowledge Management Attorney

    Excerpt from Practical Guidance
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    Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.

  • Challenging Standing In Antitrust Classes: The Uninjured

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    In virtually every antitrust class action, parties at the certification phase disagree about whether the proposed class includes uninjured members, but the goals of Rule 23 and judicial economy are best served by synthesizing two distinct approaches circuit courts take on this issue, say Michael Hamburger and Holly Tao at White & Case.

  • How Taxpayers Can Prep As Justices Weigh Repatriation Tax

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    The U.S. Supreme Court might strike down the 2017 federal tax overhaul's corporate repatriation tax in Moore v. U.S., so taxpayers should file protective tax refund claims before the case is decided and repatriate previously taxed earnings that could become entangled in dubious potential Section 965 refunds, say Jenny Austin and Gary Wilcox at Mayer Brown.

  • To Hire And Keep Top Talent, Think Beyond Compensation

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    Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.

  • Perspectives

    More States Should Join Effort To Close Legal Services Gap

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    Colorado is the most recent state to allow other types of legal providers, not just attorneys, to offer specific services in certain circumstances — and more states should rethink the century-old assumptions that shape our current regulatory rules, say Natalie Anne Knowlton and Janet Drobinske at the University of Denver.

  • Identifying Trends And Tips In Litigation Financing Disclosure

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    Growing interest and controversy in litigation financing raise several salient concerns, but exploring recent compelled disclosure trends from courts around the country can help practitioners further their clients' interests, say Sean Callagy and Samuel Sokolsky at Arnold & Porter.

  • Opinion

    OFAC Designation Prosecutions Are Constitutionally Suspect

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    Criminal prosecutions based on the Office of Foreign Assets Control’s sanctions-related listing decisions — made with nearly unfettered discretion through an opaque process — present several constitutional issues, so it is imperative that courts recognize additional rights of review, say Solomon Shinerock and Annika Conrad at Lewis Baach.

  • The NIL Legislation Race: CAPCA And The PASS Act

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    Christina Stylianou and Gregg Clifton at Lewis Brisbois compare the College Athletes Protection and Compensation Act and the Protecting Athletes, Schools, and Sports Act — two of the latest bills introduced to federally regulate publicity rights for the name, image and likeness of college student-athletes.

  • What's Notable In Connecticut's New Cannabis Laws

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    The Connecticut Legislature recently passed four bills containing cannabis provisions — ranging from applicable tax credits to labor agreement requirements — that may prove to be a mixed bag for state operators, say Sarah Westby and Deanna McWeeney at Shipman & Goodwin.

  • Series

    The Pop Culture Docket: Judge Elrod On 'Jury Duty'

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    Though the mockumentary series “Jury Duty” features purposely outrageous characters, it offers a solemn lesson about the simple but brilliant design of the right to trial by jury, with an unwitting protagonist who even John Adams may have welcomed as an impartial foreperson, says Fifth Circuit Judge Jennifer Elrod.

  • NJ Justices Clarify Bribery Law Scope, But Questions Remain

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    The New Jersey Supreme Court’s recent State v. O'Donnell decision clarified that the state’s bribery law unambiguously applies to candidates for public office, but there are still unresolved questions about how the ruling may affect lobbyists, undeclared candidates and political speech, says Scott Coffina at Pietragallo Gordon.

  • 4 Business-Building Strategies For Introvert Attorneys

    Excerpt from Practical Guidance
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    Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.

  • Opinion

    3 Ways Justices' Disclosure Defenses Miss The Ethical Point

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    The rule-bound interpretation of financial disclosures preferred by U.S. Supreme Court Justices Samuel Alito and Clarence Thomas — demonstrated in their respective statements defending their failure to disclose gifts from billionaires — show that they do not understand the ethical aspects of the public's concern, says Jim Moliterno at the Washington and Lee University School of Law.

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