Try our Advanced Search for more refined results
Tax
-
June 12, 2024
Ex-Navy Employee Pleads Guilty To Contract Bribery Scheme
Former U.S. Navy civilian official James Soriano has pleaded guilty to accepting bribes from Navy contractors to help steer hundreds of millions of dollars in deals to the companies, after reaching a plea deal with prosecutors.
-
June 12, 2024
Senate Budget Chair Seeks End To Carried Interest Tax Break
Lawmakers should end the favorable tax treatment of income from carried interest compared with ordinary earned income, Senate Budget Committee Chairman Sheldon Whitehouse said Wednesday.
-
June 12, 2024
Feds Strike Deal Ending $7M FBAR Penalty Cases
The U.S. government agreed to settle a pair of foreign bank account reporting cases in which it had sought a total of $7 million from a former insurance broker and his wife's estate, according to a court order filed Wednesday in California federal court.
-
June 12, 2024
St. Louis Atty Urges Acquittal After Tax Avoidance Conviction
A Missouri attorney who was found guilty of participating in a $4 million tax avoidance scheme alongside her father and a North Carolina insurance agent is looking to wipe out the verdict, arguing there wasn't enough evidence to convict.
-
June 12, 2024
Ore. Tax Court Affirms No Retroactive Fix To Home Value
The tax valuation of an Oregon residence erroneously assessed at a larger square footage cannot be retroactively reduced, the Oregon Tax Court said, upholding the state tax department's rejection of the request.
-
June 12, 2024
First 'Survivor' Winner Wants $3M Tax Case Tossed
The winner of the first season of the TV series "Survivor" asked a Rhode Island federal court to toss the government's case against him seeking nearly $3.3 million in unpaid taxes, saying the liabilities stem from his flawed criminal conviction for tax evasion nearly 20 years ago.
-
June 12, 2024
Biden Names Prosecutors, Judge For 3 District Courts
President Joe Biden announced nominees Wednesday for district courts in Minnesota, California and Pennsylvania.
-
June 11, 2024
SVB Wants A Trial Over Its $605M Tax Bill From IRS
The parent company of failed Silicon Valley Bank has told a New York bankruptcy judge it wants him to decide if it owes the Internal Revenue Service more than $605 million in taxes.
-
June 11, 2024
No Tax Owed On Mailed Ads, Insurer Tells Mich. Appeals Court
Advertisements mailed for a Michigan insurance provider by an out-of-state direct-mail contractor should not incur the state's use tax, the insurer told a state appeals court Tuesday.
-
June 11, 2024
Compliance Costs Outweigh Min. Tax Gains, Biz Reps Say
Multinational businesses are concerned that the burden of complying with the 15% global minimum tax outweighs any potential revenue gains associated with the burgeoning system, tax attorneys and a trade association representative said during a panel Tuesday.
-
June 11, 2024
Lawmakers Urge Biden To Back Brazil's Int'l Wealth Tax Plan
Sen. Bernie Sanders and Democratic lawmakers asked the Biden administration Tuesday to support the global minimum tax on billionaires being proposed by Brazil, which is encouraging the Group of 20 nations to endorse the initiative at its meetings next month.
-
June 11, 2024
Feds Want 10 Years For Ex-Chicago Alderman Burke
Federal prosecutors asked an Illinois federal judge Monday to send former Chicago Alderman Ed Burke to prison for 10 years for "brazenly and boldly" using his official position to steer tax business to his law firm, while Burke requested a sentence of probation, bolstered by letters of support from prominent attorneys and retired judges.
-
June 11, 2024
Charity Founder Charged With Embezzling $2.5M, Evading Tax
The founder of a New York City charity embezzled $2.5 million in donations meant for low-income families and then failed to report the earnings to the Internal Revenue Service or pay tax on them, according to a criminal complaint unsealed Tuesday in New York federal court.
-
June 11, 2024
Atty, Broker Look To Dismantle Guilty Verdicts In Tax Case
A St. Louis attorney convicted alongside his daughter and a North Carolina insurance agent asked Tuesday to be acquitted for their roles in a $4 million tax fraud scheme, arguing in part that the supposedly false statements they made on tax returns were actually true.
-
June 11, 2024
Vt. Short-Term Rental Tax Proposal Vetoed
A Vermont bill that would have imposed a 3% surcharge on short-term rentals was vetoed by the governor.
-
June 11, 2024
Democratic Republic Of Congo Joins African Tax Coalition
The Democratic Republic of the Congo has officially joined the African Tax Administration Forum as its 44th member, the group announced.
-
June 11, 2024
French Tax Law Challenged On Free Movement Grounds
The European Court of Justice is examining a French law regarding undeclared assets held outside the country to determine whether it is in line with the European Union's law respecting free movement of capital, the EU's official journal said.
-
June 10, 2024
NYC Probation Officer Interviews Trump Ahead Of Sentence
A New York City probation officer questioned Donald Trump in a remote video interview on Monday, a month before the former president is slated to be sentenced in the wake of his felony conviction in the Manhattan district attorney's hush money case.
-
June 10, 2024
Ex-LA Chinatown Bank CFO Gets 3 Years For Embezzlement
The former chief financial officer of a bank based in Los Angeles' Chinatown has been sentenced to three years in prison after pleading guilty to bank fraud for embezzling more than $700,000 from his employer.
-
June 10, 2024
Exec Wants IRS To Destroy Or Yield Docs In Summons Fight
The IRS should be forced to destroy or return bank records it obtained from a cryptocurrency executive charged in a 2020 bitcoin fraud investigation because the agency failed to notify him and his company of the summonses for the records, they told a Texas federal court Monday.
-
June 10, 2024
Unclaimed Property Group Backs Disney At Mich. High Court
An unclaimed property holder trade organization urged the Michigan Supreme Court to affirm that the state waited too long to demand that Disney and a restaurant company remit unclaimed property, arguing that third-party auditors' lax oversight allowed examinations to languish beyond the statute of limitations.
-
June 10, 2024
Big Tech Urges US Reprisal Over Canada's Impending DST
The Office of the U.S. Trade Representative should open formal dispute proceedings with the Canadian government in response to a 3% digital services tax that is expected to soon pass in the Canadian Senate, business groups with members in the U.S. tech industry said Monday.
-
June 10, 2024
Mass. House Omits Local-Option Tax From $6B Housing Bill
A proposal by Massachusetts Gov. Maura Healey to allow local-option transfer fees on high-value real estate sales was left out of a housing package worth more than $6 billion passed by the state House of Representatives.
-
June 10, 2024
Judge Unseals Some Testimony Of Trump Tax Info Leaker
A federal magistrate judge on Monday ordered the unsealing of some testimony from a former IRS contractor about how he illegally gained access to former President Donald Trump's tax returns in a billionaire's case suing the agency over the breach.
-
June 10, 2024
Kan. Court Rejects Valuation Based On Overturned Precedent
The Kansas Board of Tax Appeals incorrectly relied on overturned precedent when it lowered a Home Depot's property value by almost $2 million, the Kansas Appeals Court ruled.
Expert Analysis
-
What Lawyers Must Know About Calif. State Bar's AI Guidance
Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.
-
Industry Must Elevate Native American Women Attys' Stories
The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.
-
A Year-End Look At Florida's Capital Investment Tax Credit
Notwithstanding the Walt Disney Co.’s feud with Gov. Ron DeSantis this year, Florida's capital investment tax credit will continue to make the state a favored destination for large corporations, particularly in light of the new federal alternative minimum tax and the Pillar Two top-up tax, says Alan Lederman at Gunster.
-
Understanding Discovery Obligations In Era Of Generative AI
Excerpt from Practical Guidance
Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.
-
The Case For Post-Bar Clerk Training Programs At Law Firms
In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.
-
IRS Proposal May Help Clarify Donor-Advised Fund Excise Tax
Recently proposed regulations provide important clarifications of the Internal Revenue Code's excise tax on donor-advised fund distributions by providing detailed definitions of key terms and addressing some of the open issues related to their operation and administration, say attorneys at Morgan Lewis.
-
Ohio Voters Legalize Cannabis — What Comes Next?
This month, voters approved a citizen-initiated statute that legalizes marijuana for recreational use in Ohio, but the legalization timeline could undergo significant changes at the behest of the state's lawmakers, say Daniel Shortt and David Waxman at McGlinchey Stafford.
-
Opinion
A Telecom Attorney's Defense Of The Chevron Doctrine
The Chevron doctrine, which requires judicial deference to federal regulators, is under attack in two U.S. Supreme Court cases — and while most telecom attorneys likely agree that the Federal Communications Commission is guilty of overrelying on it, the problem is not the doctrine itself, says Carl Northrop at Telecommunications Law Professionals.
-
Attorneys Have An Ethical Duty To Protect The Judiciary
The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.
-
Mo. Solar Projects Need Clarity On Enterprise Zone Tax Relief
In Missouri, enhanced enterprise zones offer tax abatements that could offset the cost of solar project infrastructure, but developers must be willing to navigate uncertainty about whether the project is classified as real property, say Lizzy McEntire and Anna Kimbrell at Husch Blackwell.
-
AI Can Help Lawyers Overcome The Programming Barrier
Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.
-
What To Expect After Colo. Nixes Special Standing Rules
Two recent Colorado Supreme Court decisions have abandoned a test to preclude standing in lawsuits challenging government decisions brought by subordinate government entities, which will likely lead to an admixture of results, including opening the door to additional legal challenges between government entities, says John Crisham at Crisham & Holman.
-
Preparing Law Students For A New, AI-Assisted Legal World
As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.
-
General Counsel Need Data Literacy To Keep Up With AI
With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.
-
Kentucky Tax Talk: Clash Over Industrial Supplies Exemption
Recent legislative testimony in Kentucky may cause another battle over the state's sales tax exemptions for industrial supplies, even though the testimony appears to mischaracterize the impact of a major state court ruling that upheld the exemptions, say attorneys at Frost Brown.