Tax

  • October 18, 2024

    FTC Won't Disqualify ALJ in H&R Block False Ad Fight

    The Federal Trade Commission denied a request by H&R Block to stop an administrative law judge from overseeing a proceeding that accuses the tax preparation company of deceptive advertising, saying Friday that ALJs don't have unconstitutional job protections as the company claimed.

  • October 18, 2024

    Law360 Will Track 2024 Ballot Measures On Real-Time Map

    As citizens across the country weigh in on federal, state and local elections this November, Law360's 2024 ballot measure map will track election results for tax-related ballot measures in real time. Here, Law360 dives into what's on the ballots in Georgia, Nevada, Wyoming and Denver.

  • October 18, 2024

    Minn. Tax Court Refuses Big Changes To Parking Lot's Value

    The Minnesota Tax Court lowered the assessed value of a parking lot property by about $200,000 to $11.7 million, rejecting arguments for larger changes by the property owner and a county.

  • October 18, 2024

    Tax Court Gave Short Shrift To Land Donors, 11th Circ. Told

    The owners of a waterfront property in Georgia who protected 500 acres for conservation told the Eleventh Circuit that the U.S. Tax Court drastically undercut the value of their gift and its corresponding tax deduction by accepting flawed evidence provided by the government's sole witness.

  • October 18, 2024

    Taxation With Representation: Baker, Simpson, Ropes

    In this week's Taxation With Representation, Lundbeck inks a $2.6 billion cash deal for Longboard, Silver Lake agrees to buy Zuora for $1.7 billion, and PPG and American Industrial Partners reach a $550 million deal.

  • October 17, 2024

    Wash. Justices Say No Addresses Needed For Tax Ballot Items

    Washington's secretary of state didn't need to check addresses when validating signatures for five voter initiatives slated for the November ballot, including measures to repeal the state's capital gains tax and to bar income taxes, the state Supreme Court said Thursday.

  • October 17, 2024

    Amgen Faces Derivative Suit In Del. Over Tax Disclosures

    An Amgen Inc. stockholder has sued the company in Delaware's Court of Chancery seeking derivative recoveries for the multinational biopharmaceutical company from its directors and officers based on allegedly false and misleading statements regarding $10.7 billion in federal tax bills and penalties.

  • October 17, 2024

    Atty Who Repped Rodney King To Plead Guilty To Tax Evasion

    An attorney who represented Rodney King in a civil case against the city of Los Angeles after King was severely beaten by police agreed Thursday to plead guilty to tax evasion in return for the government dropping other charges.

  • October 17, 2024

    Mont. Tax Board Upholds Assessment On Storage Facility

    The owner of a Montana commercial property used to house storage units was unable to lower its value because the state Tax Appeal Board gave more weight to the state Department of Revenue's valuation using an income analysis. 

  • October 17, 2024

    A&O Shearman Taps Governance Veteran To Co-Lead Practice

    A&O Shearman said Thursday that it has tapped a longtime partner to co-head the firm's compensation, employment, pensions and governance practice, bringing it under the joint leadership of alum from each of its two legacy firms after the merger between New York-based Shearman & Sterling and London-based legacy firm Allen & Overy became official last May.

  • October 17, 2024

    Justices Told Woman Can't Dispute Levy For Paid-Off Tax

    A Third Circuit decision allowing a woman to challenge her tax liabilities in a property-seizure proceeding should be overturned, the Internal Revenue Service told the U.S. Supreme Court, saying her case became moot after the agency withheld her tax refunds to pay off her debt.

  • October 17, 2024

    NJ Injury Firm Heads To Ch. 11 Under $700K State Tax Debt

    New Jersey personal injury attorney law firm Michael J. Weiss Inc. has hit Chapter 11 with $697,397.86 in state tax liability, according to court filings.

  • October 17, 2024

    Polsinelli Hires McDermott Tax Counsel In DC

    Polsinelli PC has hired an attorney who joined the firm's tax group as a shareholder after 12 and a half years with McDermott Will & Emery LLP.

  • October 16, 2024

    2 CPAs Get 20 Months For Roles In $1.3B Tax Shelter Scheme

    Two certified public accountants were each sentenced in Georgia federal court to nearly two years in prison for selling tens of millions of dollars in false tax deductions to their rich clients as part of a $1.3 billion tax fraud scheme, the U.S. Department of Justice announced Wednesday.

  • October 16, 2024

    3rd Par Funding Exec Admits To Racketeering In $100M Scam

    The last member of the triumvirate behind Par Funding, a cash advance company that federal prosecutors say bilked investors out of $100 million, pleaded guilty to racketeering in Pennsylvania federal court Wednesday, just weeks before he was scheduled to stand trial.

  • October 16, 2024

    Utah Groups Can't Scrap Corporate Transparency, US Says

    A Utah federal court hasn't seen sufficient evidence to block the Corporate Transparency Act's disclosure requirements in presentations by an off-the-grid community, an online meat market and a trade group for cattle producers that have sued over the statute, the federal government said.

  • October 16, 2024

    Justices Won't Review Tax Scam Co-Conspirator's Sentence

    The U.S. Supreme Court declined to review the more than eight-year prison sentence for one of the men who conspired with a Canfield, Ohio defense attorney to perpetrate a tax refund scam that defrauded the U.S. Internal Revenue Service out of $1.3 million.

  • October 16, 2024

    Ex-Alderman Can't End Supervised Release For Tax Crime

    A former Chicago alderman and attorney who was convicted of tax evasion cannot terminate his court-ordered supervised release, an Illinois federal judge said Wednesday.

  • October 16, 2024

    Nev. Businessman, Trump Donor Challenges $12M Tax Bill

    A Nevada businessman and major donor to former President Donald Trump challenged what the IRS claimed are more than $12 million in tax liabilities, telling the U.S. Tax Court that the agency incorrectly adjusted his rental real estate losses and other reported calculations.

  • October 16, 2024

    Construction Co., Gov't Drop $4M Retention Credit Suit

    A former construction business' suit against the Internal Revenue Service seeking nearly $4 million in employee retention credit refunds was dismissed by a Florida federal judge Wednesday after the company and the federal government agreed to drop the case.

  • October 16, 2024

    Ex-BigLaw Partner Gets 16 Months For Tax Evasion

    A former partner at Husch Blackwell LLP and Dykema Gossett PLLC who pled guilty to refusing to pay taxes on millions of dollars in income was sentenced to 16 months in prison.

  • October 15, 2024

    Paxton Can't Get Sanctions Against Immigrant Rights Org.

    Texas Attorney General Ken Paxton failed to convince a Texas appeals court to sanction an immigrant rights nonprofit for opposing his request for a newly created state appeals court to review his effort to shutter the organization.

  • October 15, 2024

    V&E Adds Energy Tax Pro From Bracewell In Houston

    Vinson & Elkins LLP has bolstered its energy transition and tax practices with a partner in Houston who came aboard from Bracewell LLP and whose background includes substantial in-house experience advising on renewable projects.

  • October 15, 2024

    Law Firms Diverge As Anti-ESG Pushback Continues

    A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.

  • October 15, 2024

    The 2024 Law360 Pulse Social Impact Leaders

    Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.

Expert Analysis

  • Perspectives

    Trauma-Informed Legal Approaches For Pro Bono Attorneys

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    As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.

  • What Updated PLR Procedure May Mean For Stock Spin-Offs

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    A recently published Internal Revenue Service revenue procedure departs from commonly understood interpretations of the spinoff rules by imposing more stringent standards on companies seeking private letter rulings regarding tax-free stock spinoff and split-off transactions, and may presage regulatory changes that would have the force of law, say attorneys at Skadden.

  • Series

    Playing Music Makes Me A Better Lawyer

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    My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.

  • Proposed Cannabis Reschedule Sidesteps State Law Effects

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    The U.S. Department of Justice's recent proposal to move cannabis to Schedule III of the Controlled Substances Act provides certain benefits, but its failure to address how the rescheduling would interact with existing state cannabis laws disappointed industry participants hoping for clarity on this crucial question, says Ian Stewart at Wilson Elser.

  • How Attys Can Avoid Pitfalls When Withdrawing From A Case

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    The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.

  • Using A Children's Book Approach In Firm Marketing Content

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    From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.

  • New Crypto Reporting Will Require Rigorous Recordkeeping

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    The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service's efforts to track cryptocurrency activities that increases oversight by requiring brokers to report investor sales and exchanges, say Shaina Kamen and Max Angel at Holland & Knight.

  • Series

    Being An EMT Makes Me A Better Lawyer

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    While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.

  • Tax Assessment: Recapping Georgia's Legislative Session

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    Jonathan Feldman and Alla Raykin at Eversheds Sutherland examine tax-related changes from Georgia’s General Assembly — such as the governor’s successful push to accelerate income tax cuts — and suggest steps to take before certain tax incentives are challenged in the state's next legislative session.

  • Geothermal Energy Has Growing Potential In The US

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    Bipartisan support for the geothermal industry shows that geothermal energy can be an elegant solution toward global decarbonization efforts because of its small footprint, low supply chain risk, and potential to draw on the skills of existing highly specialized oil and gas workers and renewable specialists, say attorneys at Weil.

  • Exploring An Alternative Model Of Litigation Finance

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    A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.

  • Trump Hush Money Case Offers Master Class In Trial Strategy

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    The New York criminal hush money trial of former President Donald Trump typifies some of the greatest challenges that lawyers face in crafting persuasive presentations, providing lessons on how to handle bad facts, craft a simple story that withstands attack, and cross-examine with that story in mind, says Luke Andrews at Poole Huffman.

  • Series

    Teaching Yoga Makes Me A Better Lawyer

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    Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.

  • A Vision For Economic Clerkships In The Legal System

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    As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcomes and provide essential training to clerks, say Mona Birjandi at Data for Decisions and Matt Farber at Secretariat.

  • Opinion

    State-Regulated Cannabis Can Thrive Without Section 280E

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    Marijauna's reclassification as a Schedule III-controlled substance comes at a critical juncture, as removing marijuana from being subjected to Section 280E of the Internal Revenue Code is the only path forward for the state-regulated cannabis industry to survive and thrive, say Andrew Kline at Perkins Coie and Sammy Markland at FTI Consulting.

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