Tax

  • October 31, 2024

    3rd Circ. Preview: Boy Scouts' Cap. 11 Plan Row Tops Nov.

    The future of the Boy Scouts of America's Chapter 11 bankruptcy plan is set to be determined by the Third Circuit this month, with the court poised to consider whether recent U.S. Supreme Court precedent on bankruptcies and settlements allows the reopening of the plan.

  • October 31, 2024

    Ga. Justices Kill Free Speech Challenge To Strip Club Tax

    A Georgia tax on strip clubs that's used to fund child trafficking prevention efforts has been upheld by the state's highest court, which said in a split decision that a First Amendment challenge to the tax by club owners failed to show the levy limited their speech.

  • October 31, 2024

    Madigan Ally Set Up Work For Speaker's Fired Aide, Jury Told

    An ex-lobbyist on trial alongside former Illinois House Speaker Michael Madigan made arrangements for a political operative that Madigan fired to receive monthly payments while he was unemployed, suggesting he enter into contracts with loyal lobbyists and write up reports on legislators "in case the IRS checks this out," a federal jury heard Thursday.

  • October 31, 2024

    Scam Promoter Who Cost UK £2.6M In Taxes Is Banned

    A man who promoted a tax avoidance scam costing the British government tax agency at least £2.6 million ($3.4 million) has been banned by the government from serving as a director of any company for 10 years, the U.K.'s Insolvency Service announced Thursday.

  • October 31, 2024

    Exxon Entitled To Interest Deduction On Qatar Deal

    Exxon Mobil is entitled to an interest expense deduction on payments to Qatar under a natural gas deal, a Texas federal judge ruled, rejecting the U.S. government's classification of an underlying transaction as a royalty rather than a loan.

  • October 31, 2024

    Vinson & Elkins To Open Denver Office With Plans To Expand

    Three Vinson & Elkins LLP partners have been tapped to open the firm's newest office in Denver, the firm announced Thursday, amid an effort to expand its client base and talent roster in the Mountain West region.

  • October 31, 2024

    Pro Baller Avoids Prison Over Tax, Child Support Scam

    A professional basketball player was sentenced to three years of probation in Ohio federal court after being charged with conspiracy and wire fraud for allegedly attempting to avoid paying child support and taxes for several years.

  • October 31, 2024

    EU Expected To Close Final Digital VAT Deal Next Week

    The European Union is close to a final deal on its plan to bring the bloc's value-added tax rules more in line with the digital economy after representatives reached an agreement in principle, the Hungarian presidency of the Council of the EU confirmed Thursday.

  • October 31, 2024

    The 2024 Law360 Pulse Leaderboard

    Check out the Law360 Pulse Leaderboard to see which firms made the list of leaders in all-around excellence this year.

  • October 31, 2024

    Firms' Hiring Strategies Are Evolving In Fight For Top Spot

    Competition for top talent among elite law firms shows no signs of slowing down, even amid economic uncertainty, with financially strong firms deploying aggressive strategies to attract and retain skilled professionals to solidify their market position.

  • October 31, 2024

    11th Circ. Nixes ERISA Claim To John Hancock's $100M Credit

    John Hancock Life Insurance Co. had no fiduciary duty to pass on to retirement plans $100 million in foreign tax credits that it had taken from taxes paid on foreign investments, a three-judge panel of the Eleventh Circuit said in upholding a lower court ruling.

  • October 30, 2024

    Jury Finds Importer Didn't Report $17M On Tax Returns

    A Los Angeles jury found an importer of Chinese clothing guilty of skirting more than $8 million in customs duties and failing to report more than $17 million in cash transactions on tax returns, federal prosecutors in California announced Wednesday.

  • October 30, 2024

    Mich. Judges Reject Interest For Unclaimed Property Returns

    A Michigan appellate panel overturned a trial court Tuesday that admitted it was going against the grain by requiring the state to pay interest when it returns seemingly abandoned property, with appellate judges finding state statute was comprehensive enough to supersede the common law idea that "interest follows principal." 

  • October 30, 2024

    Ohio Justices Say Attorney In Prison Should Not Be Disbarred

    The Ohio Supreme Court ruled Tuesday that an attorney in federal prison for his participation in a tax fraud scheme should not be disbarred, and should have a chance to reapply for his law license in the future

  • October 29, 2024

    Ex-ComEd GC Calls Madigan's Interest In Law Firm 'Strange'

    A Jenner & Block LLP attorney and former Commonwealth Edison general counsel testified Tuesday that he found it "strange" to read ex-Illinois House Speaker Michael Madigan was interested in the granular details of the utility's negotiations with Chicago law firm Reyes Kurson. Madigan's counsel, however, appeared to suggest a confidant and co-defendant had name-dropped the speaker in 2016 without actually talking to him. 

  • October 29, 2024

    Ex-Cleveland Councilman Can't Cut 6-Year Fraud Sentence

    An Ohio federal judge will not allow a former Cleveland city councilman to get out of jail on compassionate release, ruling the ex-politician "has never demonstrated any remorse for his criminal conduct" and should serve the remainder of his six-year fraud sentence.

  • October 29, 2024

    Beyond Abortion, 7 Ballot Questions Set To Shape Care

    While reproductive rights have led the healthcare debate this election season, voters across the country will shape state policies on a number of other hot issues, including a Medicaid work requirement and coverage for IVF. Law360 Healthcare Authority looks at seven ballot measures that go beyond abortion.

  • October 29, 2024

    Building Co. Cops To Worker Scheme Tied To Tax Fraud

    A truss building company pled guilty to conspiring to hide its employment of dozens of unauthorized workers from the U.S. Department of Homeland Security with a former employee, who admitted to filing false tax returns as part of the scheme, according to Florida federal court documents.

  • October 29, 2024

    Rimon Adds International Tax Expert In Philadelphia

    Rimon PC has added an expert in international tax and trusts and estates who joined the firm's Philadelphia office after working for his own practice.  

  • October 29, 2024

    4th Circ. Unclear On LeClairRyan Founder's Tax Liability

    A Fourth Circuit panel appeared confused and noncommittal Tuesday as it wrestled with a narrow question of contract interpretation that could determine whether Gary LeClair of defunct LeClairRyan PLLC is on the hook for massive tax bills tied to the firm's collapse.

  • October 28, 2024

    Crypto Co. Operator Faces Money Laundering, Tax Charges

    Federal prosecutors accused an Indiana property owner of laundering the proceeds of a crypto money transmitter — AurumXchange — that they say should have been licensed and of failing to file tax returns despite realizing six figure gains from investing the proceeds.

  • October 28, 2024

    Russia Says High Court Case May Help Nix $5B Award Suit

    Russia has told a D.C. federal court that a case recently accepted for review by the U.S. Supreme Court may provide it a path to argue that the court lacks jurisdiction to decide a case brought against the country by a Yukos Oil Co. unit.

  • October 28, 2024

    Metals Co. Owner Convicted Of Tax Fraud In $58M Theft Case

    A Delaware federal jury convicted the owner of a gold and silver depository of tax fraud and other crimes tied to the government's accusations that he stole $58 million in precious metals from his customers, according to court filings.

  • October 28, 2024

    No COVID Property Tax Break For Hotels, Wash. Court Told

    Hotels in Washington state should not get property tax breaks for COVID-19 because the pandemic was not a natural disaster that allows relief, the assessor of the state's most populous county told a state court.

  • October 28, 2024

    Ind. Tax Board Cuts Target Store's Assessment By $500K

    An Indiana Target's property tax assessment should be lowered by roughly $500,000 for three tax years, the state Board of Tax Review said, finding the retailer's income capitalization approach to the valuation persuasive.

Expert Analysis

  • How Judiciary Can Minimize AI Risks In Secondary Sources

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    Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.

  • NY Tax Talk: Questions In Corporate Franchise Tax Regs Case

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    In the first challenge to New York's Corporate Franchise Tax regulations — Paychex v. Department of Taxation and Finance — the court has an important opportunity to provide clarity on a major retroactive application issue, say attorneys at Eversheds Sutherland.

  • How Attorneys Can Break Free From Career Enmeshment

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    Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.

  • Ex-Chicago Politician's Case May Further Curb Fraud Theories

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    The U.S. Supreme Court recently agreed to hear Thompson v. U.S. to determine whether a statement that is misleading but not false still violates federal law, potentially heralding the court’s largest check yet on prosecutors’ expansive fraud theories, with significant implications for sentencing, say attorneys at the Law Offices of Alan Ellis.

  • Lawyers With Disabilities Are Seeking Equity, Not Pity

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    Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.

  • Opinion

    Judicial Committee Best Venue For Litigation Funding Rules

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    The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.

  • The Strategic Advantages Of Appointing A Law Firm CEO

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    The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.

  • Opinion

    Tariffs' Economic Downsides Outweigh Potential Revenue

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    Import tariffs proposed by the campaign of former president Donald Trump would generate revenue like other taxes, but policymakers must consider the net-negative impact of associated consumer and downstream-industry costs, harm to exporters, potential foreign retaliation and reduction in economic output, says Erica York at the Tax Foundation.

  • Series

    Beekeeping Makes Me A Better Lawyer

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    The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.

  • Navigating The Last Leg Of The Worker Retention Tax Credit

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    Whether a business has applied for the pandemic-era employee retention tax credit, received a denial letter or is still considering making a claim before the April 15 deadline, it should examine recent developments significantly affecting the program before planning next steps, say attorneys at Nixon Peabody.

  • Opinion

    Legal Institutions Must Warn Against Phony Election Suits

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    With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.

  • How Cos. Can Build A Strong In-House Pro Bono Program

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    During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.

  • Series

    Home Canning Makes Me A Better Lawyer

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    Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.

  • Use The Right Kind Of Feedback To Help Gen Z Attorneys

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    Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.

  • Opinion

    Congress Can And Must Enact A Supreme Court Ethics Code

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    As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.

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