Tax

  • October 22, 2024

    Winston & Strawn Boosts Transactions Team With NY Tax Atty

    As Winston & Strawn LLP continues to build out its transactions team, the firm has hired a new attorney from Hunton Andrews Kurth LLP with a focus on the tax aspects of real estate financing.

  • October 22, 2024

    Madigan Ally's Favors Were '100% Legal,' Not Bribes, Jury Told

    Counsel for an ex-lobbyist standing trial on public corruption charges alongside former Illinois House Speaker Michael Madigan told an Illinois federal jury Tuesday that the government is treating legal lobbying activity as bribery, and that his client did "100% legal favors" for Madigan to establish trust and maintain access to the powerful politician.

  • October 22, 2024

    Standard Deduction To Get $400 Bump For 2025 Tax Year

    The standard deduction will rise by $400, to $15,000, for individuals and married couples filing separately for the 2025 tax year, the IRS said Tuesday in announcing inflation adjustments to over 60 tax provisions.

  • October 22, 2024

    How Law Firms Get And Keep Elite Status

    For decades, a handful of New York-based law firms thoroughly dominated the national consciousness when it came to power, profitability and prestige. But in today's legal market, increased movement of partners and clients from one firm to the next has begun to shake things up and create opportunities for go-getters to ascend the ranks.

  • October 22, 2024

    The 2024 Prestige Leaders

    Check out our Prestige Leaders ranking, analysis and interactive graphics to see which firms stand out for their financial performance, attractiveness to attorneys and law students, ability to secure accolades and positive legal news media representation.

  • October 22, 2024

    Director Imprisoned For Concealing £220K Tax Debt

    The former director of a wholesale company has been jailed for 10 months after failing to deliver accounting records when his business went into liquidation owing more than £220,000 ($290,000), the Insolvency Service announced Tuesday.

  • October 22, 2024

    MVP: Jones Day's Charles 'Chuck' Hodges

    Chuck Hodges, a tax partner with Jones Day, led a gravel company to victory in May at the U.S. Tax Court in a case regarding an $11.1 million sale of a freeway pit, helping him earn a spot as one of the 2024 Law360 Tax MVPs.

  • October 21, 2024

    Madigan Part Of 'Corruption At The Highest Levels,' Jury Told

    Former Illinois House Speaker Michael Madigan and his loyal right hand Michael McClain engaged in an eight-year "campaign of bribery," leveraging his public office and leadership roles to steer business to Madigan's property tax law firm, enrich his allies with do-nothing jobs and maintain his considerable political power, prosecutors told an Illinois federal jury Monday.

  • October 21, 2024

    US, Land Donor Settle Fight Over $1.9M Cut To Deduction

    The federal government settled a suit brought by a Louisiana partnership that accused the IRS of using a flawed appraisal to drive down its tax deduction for a land donation by nearly $1.9 million, according to Louisiana federal court filings.

  • October 21, 2024

    Ga. Atty Admits To Role In $1.3B Tax Shelter Scheme

    A Georgia attorney has pled guilty in federal court related to helping orchestrate a $1.3 billion tax scheme involving fraudulent conservation easements, making him the 12th person convicted over the plot, including another attorney who was handed a 23-year prison sentence.

  • October 21, 2024

    MVP: Paul Weiss' Brian Krause

    Brian Krause of Paul Weiss Rifkind Wharton & Garrison LLP's tax practice designed a novel tax approach for the merger of World Wrestling Entertainment and Ultimate Fighting Championship, raced to create a tax-free deal in the final days of a Texas "wildcatter" hoping to sell his oil company, and advised Chevron in its $60 billion acquisition of Hess Corp., earning him a spot as one of the 2024 Law360 Tax MVPs.

  • October 18, 2024

    Law360 MVP Awards Go To Top Attys From 74 Firms

    The attorneys chosen as Law360's 2024 MVPs have distinguished themselves from their peers by securing hard-earned successes in high-stakes litigation, complex global matters and record-breaking deals.

  • 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.

Expert Analysis

  • Energy Community Tax Credit Boost Will Benefit Wind Sector

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    Recent Internal Revenue Service guidance broadening tax credit eligibility to more parts of offshore wind facilities in so-called energy communities is a win for the industry, which stands to see more projects qualify for a particularly valuable bonus in the investment tax credit context due to the capital-intensive nature of offshore wind projects, say attorneys at Troutman Pepper.

  • Weisselberg's Perjury At Trial Spotlights Atty Ethics Issues

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    Former Trump Organization executive Allen Weisselberg’s recent guilty plea for perjury in the New York attorney general's civil fraud trial should serve as a reminder to attorneys of their ethical duties when they know a client has lied or plans to lie in court, and the potential penalties for not fulfilling those obligations, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Series

    Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • Opinion

    Why Supreme Court Should Allow Repatriation Tax To Stand

    If the U.S. Supreme Court doesn't reject the taxpayers' misguided claims in Moore v. U.S. that the mandatory repatriation tax is unconstitutional, it could wreak havoc on our system of taxation and result in a catastrophic loss of revenue for the government, say Christina Mason and Theresa Balducci at Herrick Feinstein.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • Bankruptcy Courts' Role In Shaping Crypto's Legal Framework

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    Massive financial and criminal liability has led to the recent collapse of major cryptocurrency companies and put bankruptcy courts in the spotlight, underscoring the urgent need for a comprehensive regulatory framework, say Tara Pakrouh and Eric Monzo at Morris James.

  • Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law

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    A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.

  • Opinion

    $175M Bond Refiled By Trump Is Still Substantively Flawed

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    The corrected $175 million bond posted by former President Donald Trump on Thursday to stave off enforcement of the New York attorney general's fraud judgment against him remains substantively and procedurally flawed, as well as inadequately secured, says Adam Pollock of Pollock Cohen.

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • How IRA Unlocks Green Energy Investments For Tribes

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    An Inflation Reduction Act provision going into effect May 10 represents a critical juncture for Native American tribes, offering promising economic opportunity in green energy investment, but requiring a proactive and informed approach when taking advantage of newly available tax incentives, say attorneys at Lewis Brisbois.

  • Series

    Serving As A Sheriff's Deputy Made Me A Better Lawyer

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    Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.

  • Fears About The End Of Chevron Deference Are Overblown

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    While some are concerned about repercussions if the U.S. Supreme Court brings an end to Chevron deference in the Loper and Relentless cases this term, agencies and attorneys would survive just fine under the doctrines that have already begun to replace it, say Daniel Wolff and Henry Leung at Crowell & Moring.

  • Former Minn. Chief Justice Instructs On Writing Better Briefs

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    Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.

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