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Tax
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January 07, 2025
H&R Block Accused Of Negligence In Data Breach
An H&R Block user who claims cybercriminals disseminated his personal information on the dark web, after a data breach at the tax preparation firm, accused the company in a proposed class action of failing to properly protect consumer data.
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January 07, 2025
Mont. Bill Floats Mine, Data Center Property Tax Changes
Montana would lower the property tax rate imposed on metal mines, certain agricultural land and railroads but raise the rate on data center property as part of a bill introduced in the state Senate.
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January 07, 2025
Cos. Seek Pause Of Retention Credit Processing In Litigation
Two companies that helped clients obtain pandemic-era employee retention tax credits asked Arizona federal district court Tuesday to pause the IRS' use of a system for automatically processing claims, saying harm caused by this process cannot be remedied after litigation.
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January 07, 2025
ND Gov. Pitches Property Tax Reform In Annual Address
North Dakota would cap local property tax increases at 3% and double a major exemption under a plan pitched by the state's new governor that he said would eliminate the tax on many primary residences in the next decade.
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January 07, 2025
Mont. Bill Seeks Review Process For Tax-Exempt Property
Montana would require the state Department of Revenue to create a program to review property that is exempt from taxation under a bill introduced in the state House of Representatives.
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January 07, 2025
Developer Says Mass. Stalling $15M Brownfields Tax Credit
The developer of a 3.5-acre luxury condo and apartment complex in Boston's Seaport District is accusing the state of improperly second-guessing the work of its licensed environmental remediation consultant to deny a $15.3 million brownfields tax credit, then dragging its feet on an administrative appeal.
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January 07, 2025
No Problem With $217M Dam Repair Tax, Mich. Panel Says
A Michigan appellate panel on Monday said a $217 million special assessment levied on property owners for dam repairs and lake level restoration after devastating 2020 floods was established through a legally sound process, ruling the owners were never entitled to have a pseudo-judicial review of the tax.
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January 07, 2025
Trump Can't Halt Sentencing In NY Case, Appeals Judge Says
A New York appellate judge Tuesday declined to freeze proceedings in Donald Trump's criminal hush money case, clearing the way for the president-elect to be sentenced as scheduled on Friday following his guilty verdict and just days before his inauguration.
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January 06, 2025
Trump Selects Long Island Judge For EDNY's Top Prosecutor
President-elect Donald Trump, who was born in Queens, has picked a Long Island state court judge to serve as the next U.S. attorney for the Eastern District of New York, according to an announcement made Monday on Truth Social.
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January 06, 2025
New Rules Won't Lift Political Clouds Over Hydrogen Projects
The Biden administration's new rules to make hydrogen production tax credits more accessible for project developers and investors may not move the needle much for the industry given President-elect Donald Trump's vow to at least partially repeal the statute that created the credits.
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January 06, 2025
Newsom Says No New Taxes, No Deficit, In Early Budget Look
California Gov. Gavin Newsom pledged Monday not to raise taxes in the upcoming budget cycle for the state, while providing an early look at a $322 billion budget that differs from the previous two years by not having a deficit.
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January 06, 2025
Pa. Licensing Law For Vape-Makers Flawed, Panel Finds
Part of Pennsylvania's law regulating licenses for e-cigarette manufacturers is unconstitutional because it gives legislative power to the state's Department of Revenue, an appellate court has ruled in an issue of first impression.
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January 06, 2025
Ill. Bill Aims To Extend Affordable Housing Tax Break Deadline
Illinois would allow some owners of affordable rental housing until the end of 2037 to apply for a reduction in their property's assessed value for tax purposes as part of a bill introduced in the state Senate.
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January 06, 2025
Convicted Atty Who 'Lost Everything' Fights To Keep License
A Philadelphia-based personal injury attorney who was convicted for not paying income tax on more than $8 million in revenue he earned and for failing to pay almost $60,000 in payroll taxes argued Monday he should not permanently lose his ability to practice law in New Jersey.
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January 06, 2025
Proskauer Adds New Funds Partners In NY, DC
Proskauer Rose LLP announced Monday it has rung in the new year by adding two new partners to its private funds group, with the addition of a tax expert from Schulte Roth & Zabel LLP in New York and a regulatory specialist from the SEC in Washington, D.C.
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January 06, 2025
US Wants More Time To Counter Altria's $106M Tax Refund Bid
Tobacco giant Altria's complaint seeking a $106 million tax refund related to its interests in beverage company Anheuser-Busch requires more research to counter in the event a Virginia federal court decides it can move forward, the U.S. government said in requesting time for potential discovery.
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January 06, 2025
France's New Finance Minister Hints At Capital Gains Hike
The newly formed French government is open to raising the capital gains tax as part of concessions in talks to settle the country's budget for 2025, the finance minister said Monday.
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January 06, 2025
Trudeau Steps Down As US-Canada Trade Tensions Simmer
Canadian Prime Minister Justin Trudeau announced Monday that he will resign as the leader of the country's Liberal Party, setting off a process to replace him in the coming months.
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January 06, 2025
Judge Denies Trump's Request To Delay Jan. 10 Sentencing
A New York state judge on Monday denied Donald Trump's request to suspend his Jan. 10 sentencing in his hush money case as the president-elect simultaneously appealed the court's refusal to throw out the charges based on presidential immunity.
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January 03, 2025
Honeygrow Accused Of Taxing Bottled Water At Pa. Location
Philadelphia-based restaurant chain Honeygrow unjustly profited from charging 6% sales tax for bottled water at one of its locations in violation of Pennsylvania law, a new class action lawsuit filed in state court alleged.
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January 03, 2025
Treasury Unveils Flexible Final Regs For Hydrogen Tax Credit
The U.S. Treasury Department released final rules Friday for hydrogen production tax credits that allow fuel produced using nuclear-generated electricity or methane to qualify for the incentive, making the regulations more flexible than what was proposed last year.
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January 03, 2025
NY Judge To Sentence Trump Jan. 10 But Says Prison Unlikely
A New York state judge said Friday he will sentence Donald Trump on Jan. 10 after rejecting his motion to dismiss his hush money conviction in light of his status as president-elect, but suggested a prison term is highly unlikely.
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January 03, 2025
Prison Delay Denied For Broker In $22M Tax Scheme
An insurance broker sentenced to five years in prison for participating in a $22 million tax scheme must begin serving his term after a North Carolina federal judge on Friday denied him a delay to help his new counsel prepare his appeal.
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January 02, 2025
Tax Court Upholds Nix Of $24M Deduction For Easement
A partnership that donated a preservation easement over a building in a historic district is not entitled to a nearly $24 million tax deduction, the U.S. Tax Court affirmed Thursday, saying the building was not listed on the National Register of Historic Places or federally certified.
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January 02, 2025
Ill. Atty Can't Avoid Prison Pending Bribery Appeal
An Illinois attorney set to serve time for bribing former Chicago alderman Edward Burke must still report to prison while he asks the Seventh Circuit to review his conviction and 32-month sentence, a federal judge said.
Expert Analysis
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Series
Flying Makes Me A Better Lawyer
Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.
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What Higher Education Can Expect From A 2nd Trump Admin
The election of Donald Trump for a second presidential term has far-reaching ramifications for colleges and universities — come January, institutions can expect a crackdown on DEI, increased scrutiny of campus protests, a rollback of the Biden administration's Title IX rules and more, say attorneys at Jenner & Block.
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Series
Circus Arts Make Me A Better Lawyer
Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.
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3 Ways To Train Junior Lawyers In 30 Minutes Or Less
Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.
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Expect Surging Oil And Gas Industry Under New Trump Admin
Throughout his recent campaign, President-elect Donald Trump promised increased oil and natural gas production and reduced reliance on renewables — and his administration will likely bring more oil and gas dealmaking, faster federal permitting and attempts to roll back incentives for green energy, say attorneys at Sidley.
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The Bar Needs More Clarity On The Discovery Objection Rule
Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.
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Series
Being A Navy Reservist Makes Me A Better Lawyer
Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.
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Cos. Should Inventory Issues To Prep For New Congress
As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.
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Conservation Easement Cases Weave Web Of Uncertainty
Much of the IRS and Justice Department’s recent success in prosecuting syndicated conservation easement cases can be attributed to the government’s focus on the so-called PropCo ratio, which could indicate treacherous waters ahead for participants and their advisers, even under the incoming Trump administration, say attorneys at Polsinelli.
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So You Want To Move Your Law Practice To Canada, Eh?
Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.
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Legislation Most Likely To Pass In Lame Duck Session
As Congress begins its five-week post-election lame duck session, attorneys at Greenberg Traurig break down the legislative priorities and which proposals can be expected to pass.
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What Trump's 2nd Presidency Could Mean For Crypto Sector
Trump's second term will bring a fundamental shift from the Biden administration's approach to crypto-asset regulation and banking supervision, with the most significant changes likely taking effect in the first two quarters of 2025 and broader policy shifts emerging over the next year, say attorneys at Cahill.
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Promoting Diversity In The Selection Of ADR Neutrals
Excerpt from Practical Guidance
Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.
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Series
Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.
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Considering Chevron's End Through A State Tax Lens
States took the lead in encouraging Chevron's demise, turning away from Chevron-type deference in state tax administration ahead of the U.S. Supreme Court’s Loper Bright decision, a trend likely to accelerate as courts take a more active role in interpreting tax laws, say attorneys at Eversheds Sutherland.