Tax

  • November 21, 2024

    Trump Selects Ex-Fla. AG Pam Bondi As New AG Pick

    President-elect Donald Trump announced Thursday that he has selected Pam Bondi, a former attorney general of Florida, as his new pick for U.S. attorney general, just hours after former U.S. Rep. Matt Gaetz withdrew his name from consideration amid allegations of sexual misconduct and drug use.

  • November 21, 2024

    Tax Firm Must Disclose Case Info In Malpractice Suit

    A tax firm being sued for malpractice and unfair trade practices by former clients can't hide behind a state bar association rule to avoid producing discovery documents it claims are privileged, a Wisconsin federal court ruled Thursday.

  • November 21, 2024

    Ill. Justices Give Marathon Chance To Avoid $15M Fuel Tax

    Marathon Petroleum presented enough evidence to rebut claims by officials of an Illinois county that it owed about $15 million in fuel taxes on transactions stemming from cash settlements for delivery contracts, the state Supreme Court ruled Thursday, reversing an appellate court.

  • November 21, 2024

    Ga. Attys' Easement Fraud Class Suit Shipped To State Court

    A Georgia federal judge kicked back to state court a proposed class action accusing conservation easement fund organizers of racketeering and defrauding investors, saying the organizers failed to prove that the proposed class had at least 100 investors or that the case hinged on federal law.

  • November 21, 2024

    Experts Cool On 'Chill' Defense In NJ RICO Case

    Former prosecutors and academics are doubtful two of New Jersey's most politically connected attorneys can convince a judge that the racketeering case against them will have a chilling effect on lawyering, given that prosecutors only have to show they knew the end game of the notorious Democratic power broker they're accused of helping.

  • November 21, 2024

    Ohio City Tax Exemption Isn't Retroactive, Court Affirms

    An Ohio property in a reinvestment area is not eligible for a city's tax exemption offered to remodeled homes, as the remodel was completed before the property was included in the reinvestment district, an Ohio appellate court affirmed Thursday.   

  • November 21, 2024

    Ex-Connecticut Town Officials Appeal Toss Of Defamation Claims

     A group of former officials from Newington, Connecticut, including its onetime town attorney, have appealed a state judge's decision to throw out all of their claims against the town and nearly all against tax assessors they had accused of defaming them with a false ethics complaint.

  • November 21, 2024

    Minn. Tax Court Won't Revisit Stipulated $1M Property Value

    The Minnesota Tax Court rejected a challenge to a $1 million property valuation, saying it had already set that value to reflect a stipulation reached between the local assessor and the previous owner for the assessment date at issue.

  • November 21, 2024

    11th Circ. Asked To Rethink $100M Credit For John Hancock

    The Eleventh Circuit should reverse its decision allowing John Hancock Life Insurance Co. to keep $100 million in foreign tax credits that rightfully belong to the company's investors, trustees of a retirement plan said in arguing that the court overlooked a key U.S. Treasury regulation.

  • November 21, 2024

    Gaetz Ends AG Bid, Citing 'Distraction' To Trump Transition

    Former U.S. Rep. Matt Gaetz withdrew his name from consideration Thursday as President-elect Donald Trump's nominee for attorney general amid allegations of sexual misconduct and drug use.

  • November 21, 2024

    Chewy Investors Sue BC Partners In Del. Over PetSmart Deal

    British international investment giant BC Partners exploited its control of online pet product retailer Chewy Inc. when a BCP affiliate merged into Chewy after divesting its interest in PetSmart Inc., saddling Chewy with a potential $1.9 billion post-deal tax liability, according to a new Delaware Court of Chancery complaint.

  • November 20, 2024

    Musk, Ramaswamy Say High Court Rulings OK Federal Cuts

    Billionaire Elon Musk and former presidential candidate Vivek Ramaswamy, President-elect Donald Trump's picks to lead a newly created "Department of Government Efficiency," on Wednesday said two recent U.S. Supreme Court rulings will give them the authority to cut off power to regulatory agencies and conduct massive federal layoffs.

  • November 20, 2024

    NJ Court Must Revisit Assessor's Workplace Retaliation Claim

    A New Jersey trial court must revisit a municipal tax assessor's workplace retaliation claim as the case used by the court in its decision doesn't exempt assessors from the state's employee protection law, an appellate panel ruled Wednesday.

  • November 20, 2024

    Fla. Tax Preparer Gets 4 Years For Tax Fraud Scheme

    A barred Florida tax preparer was sentenced to four years in prison for falsifying returns to trigger inflated refunds for participants in a three-year tax fraud scheme called the "note program," the U.S. Department of Justice said Wednesday.

  • November 20, 2024

    Feds Want 1 Year In Prison For Accountant Who Hid $1.4M

    An accountant who hid $1.4 million from the IRS should be sentenced to at least a year in prison despite his stated mental health issues, the government told a Connecticut federal court, saying he seemed driven at least partly by greed and thought he wouldn't get caught.

  • November 20, 2024

    Irish Social Democrats Run On Wealth Tax For Millionaires

    Ireland's Social Democrats are campaigning for this month's general election on a 0.5% tax on individuals' assets over €1 million ($1.1 million) — excluding homes, family businesses, art and pensions — and 1% for assets over €2 million, according to its manifesto.

  • November 20, 2024

    NJ Power Broker, Attys Demand Wiretap Docs In RICO Case

    George E. Norcross III, a politically influential insurance executive in New Jersey, and others accused alongside him of a massive racketeering scheme demanded Wednesday that state prosecutors turn over complete wiretap application information dating back to 2016, arguing that those details form the core of the state's case against them.

  • November 20, 2024

    Boston Mayor Touts Property Tax Relief Bill Before Panel

    Massachusetts lawmakers should allow Boston to adjust its property tax calculations to stabilize the share borne by residences, mitigating an impending tax hike, and boost a business personal property tax exemption, Boston's mayor told a legislative panel Wednesday.

  • November 20, 2024

    Trump Wants 'Immediate Dismissal' Of NY Hush Money Case

    President-elect Donald Trump's legal team told the New York judge who presided over his hush money trial that his conviction should be thrown out due to his "overwhelming victory" at the polls, according to a filing released Wednesday.

  • November 19, 2024

    Turkish Tax Inspectors Target Alcohol Cos. For Evasion

    Turkish tax inspectors raided 100 addresses tied to alcohol businesses as part of an ongoing crackdown against suspected tax evasion by companies with 100 billion lira ($2.9 billion) in combined revenue, Turkey's Ministry of Treasury and Finance told state news media.

  • November 19, 2024

    'Survivor' Winner Needs To Pay $3.3M Tax Bill, Judge Advises

    The winner of the "Survivor" television series who evaded taxes on his $1 million in prize money and served time in prison should pay $3.3 million of his civil liabilities, including fraud penalties, a federal magistrate judge said.

  • November 19, 2024

    Ohio Board OKs Income Approach In Two Theater Valuations

    Two Ohio movie theaters should be valued using the income approach to valuation applied by a county appraiser, the state tax board said in separate rulings involving two counties.

  • November 19, 2024

    G20 To Cooperate On Soft Law For Taxing Ultra-Wealthy

    Leaders of the world's largest economies intend to cooperate on taxing "ultra-high-net-worth individuals" through soft law approaches such as exchanging best practices and creating model policies that address tax avoidance, according to a Group of 20 Nations declaration.

  • November 19, 2024

    Liberty Global Tax Break Based On Void Moves, 10th Circ. Told

    The economic substance doctrine is broad and can invalidate telecommunications company Liberty Global's transaction that led to a $2.4 billion deduction because steps taken to maximize the tax break lacked business purpose, a government attorney told the Tenth Circuit on Tuesday.

  • November 19, 2024

    IRS Can Extend Deadline Over Preparer's Fraud, 3rd Circ. Told

    The Third Circuit should affirm a U.S. Tax Court ruling allowing the Internal Revenue Service to skirt the normal deadlines and assess taxes going back to 1993 against a couple who were unaware that their tax preparer had falsified their returns to lower their liabilities, the government said.

Expert Analysis

  • What NFL Draft Picks Have In Common With Lateral Law Hires

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    Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.

  • Replacing The Stigma Of Menopause With Law Firm Support

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    A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.

  • Planning Law Firm Content Calendars: What, When, Where

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    During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.

  • Series

    Playing Golf Makes Me A Better Lawyer

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    Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.

  • Brownfield Questions Surround IRS Tax Credit Bonus

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    Though the IRS has published guidance regarding the Inflation Reduction Act's 10% adder for tax credits generated by renewable energy projects constructed on brownfield sites, considerable guesswork remains as potential implications seem contrary to IRS intentions, say Megan Caldwell and Jon Micah Goeller at Husch Blackwell.

  • Law Firms Should Move From Reactive To Proactive Marketing

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    Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.

  • Opinion

    The Big Issues A BigLaw Associates' Union Could Address

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    A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.

  • Opinion

    It's Time For A BigLaw Associates' Union

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    As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.

  • Why DOJ's Whistleblower Program May Have Limited Impact

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    The U.S. Department of Justice’s new whistleblower pilot program aims to incentivize individuals to report corporate misconduct, but the program's effectiveness may be undercut by its differences from other federal agencies’ whistleblower programs and its interplay with other DOJ policies, say attorneys at Milbank.

  • How Justices Upended The Administrative Procedure Act

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    In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.

  • Trump's Best Hush Money Appeal Options Still Likely To Fail

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    The two strongest potential arguments former President Donald Trump could raise in appealing his New York hush money conviction seem promising at first, but precedent strongly suggests they will still ultimately fail — though, of course, Trump's unique position could lead to surprising results, says former New York Supreme Court Justice Ethan Greenberg, now at Anderson Kill.

  • Tips For Tax Equity-Tax Credit Transfers That Pass IRS Muster

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    Although the Internal Revenue Service has increased its scrutiny of complex partnership structures, which must demonstrate their economic substance and business purpose, recent cases and IRS guidance together provide a reliable road map for creating legitimate tax equity structures, say Ian Boccaccio and Michael Messina at Ryan Tax.

  • Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?

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    A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.

  • Series

    Playing Dungeons & Dragons Makes Me A Better Lawyer

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    Playing Dungeons & Dragons – a tabletop role-playing game – helped pave the way for my legal career by providing me with foundational skills such as persuasion and team building, says Derrick Carman at Robins Kaplan.

  • 3 Leadership Practices For A More Supportive Firm Culture

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    Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.

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