Top Federal Tax Decisions Of 2024
Over the past year, federal courts have issued decisions further delimiting the power of the Internal Revenue Service, with the First Circuit affirming a decision to allow agency summonses for cryptocurrency account records and an Arizona federal court rejecting a call to lift the agency's moratorium on processing pandemic-era worker credits. Here, Law360 reviews some of the most significant federal tax decisions of 2024.
Digital Taxes In Flux Amid Renewed US Tariff Threats
Governments around the world revisited their approaches to digital services taxes this year by adopting broader versions, raising rates, carving out industries and analyzing the impacts of adopting unilateral measures as threats of U.S. tariffs materialize once again. Here, Law360 looks at how countries around the world are considering, adopting or changing their DSTs.
Top State And Local Tax Policies Of 2024
Taxes are often unpopular, but in 2024, voters in a couple of states approved taxes that target those with larger earnings, and one state’s voters embraced using tax policy to combat problems surrounding homelessness. Here, Law360 looks at some notable state and local tax policies of the past year.
Top Federal Tax Decisions Of 2024
Over the past year, federal courts have issued decisions further delimiting the power of the Internal Revenue Service, with the First Circuit affirming a decision to allow agency summonses for cryptocurrency account records and an Arizona federal court rejecting a call to lift the agency's moratorium on processing pandemic-era worker credits. Here, Law360 reviews some of the most significant federal tax decisions of 2024.
Digital Taxes In Flux Amid Renewed US Tariff Threats
Governments around the world revisited their approaches to digital services taxes this year by adopting broader versions, raising rates, carving out industries and analyzing the impacts of adopting unilateral measures as threats of U.S. tariffs materialize once again. Here, Law360 looks at how countries around the world are considering, adopting or changing their DSTs.
Top State And Local Tax Policies Of 2024
Taxes are often unpopular, but in 2024, voters in a couple of states approved taxes that target those with larger earnings, and one state’s voters embraced using tax policy to combat problems surrounding homelessness. Here, Law360 looks at some notable state and local tax policies of the past year.
Federal More
The Fifth Circuit on Monday lifted a lower court's nationwide block of a federal corporate transparency law, ruling in an unpublished order that the federal government made a "strong showing" that it could suc... (more story)
An IRS supervisor can approve penalties anytime before the agency assesses them, as well as before it issues a preassessment notice subject to a U.S. Tax Court review, such as a deficiency notice, under final ... (more story)
Tax professionals who practice before the IRS and charge clients contingent fees in connection with preparing returns will be subject to sanctions for disreputable conduct under rules proposed by the U.S. Trea... (more story)
The U.S. Securities and Exchange Commission on Friday announced a $12 million settlement with Entergy Corp. over claims that the company failed to properly account for what may have been hundreds of millions o... (more story)
A Utah federal judge has stayed a case seeking to block the Corporate Transparency Act to see how the new administration of President-elect Donald Trump handles the law after a kindred case in Texas won a prel... (more story)
Baker McKenzie announced the promotion of 18 North American-based attorneys to partner, a slight increase from last year but still significantly lower than in previous years.
An owner of bikini coffee stands in Seattle was sentenced to 10 months in prison for tax fraud that the U.S. government claimed involved his failure to report more than $6 million in income to the Internal Rev... (more story)
State & Local More
Banks, Not Credit Cos., Can Duck New Ill. Fee Law For Now
An Illinois federal judge ruled Friday that credit card companies like Visa and Mastercard must comply with Illinois' landmark law restricting certain credit card fees; however, she also held that national ban... (more story)
Pact Board Fails To OK Remote Seller Back Sales Tax Plan
A voluntary disclosure program proposal that would allow remote sellers to limit their back sales tax liabilities in states that participate in the Streamlined Sales and Use Tax Agreement fell one vote shy of ... (more story)
NJ Atty Says RICO Case Only Alleges He Acted As Lawyer
New Jersey attorney William Tambussi has slammed the Garden State's response to his bid to toss charges against him in the state's sweeping indictment against power broker George E. Norcross III, claiming it d... (more story)
Outgoing Wash. Gov. Proposes Wealth Tax In Budget
Washington state would levy a 1% tax on residents with worldwide wealth of more than $100 million and increase taxes on businesses under a budget proposal from outgoing Gov. Jay Inslee.
Making The Pitch To Grow Your Company's Legal Team
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify... (more story)
Fla. Court Won't Dismiss JetBlue Airline Miles Tax Case
JetBlue can proceed with its arguments that the Florida Department of Revenue's method of determining the airline's miles flown in the state violated the U.S. Constitution's commerce and due process clauses, a... (more story)
New Jersey Power Broker Says RICO Case Isn't Fit For Jury
Defendants dubbed the "Norcross Enterprise" are fighting back against New Jersey Attorney General Matthew Platkin's assertion that their bid to toss a criminal indictment accusing them of engaging in a sprawli... (more story)
Top State And Local Tax Cases Of 2024
From the U.S. Supreme Court declining to hear a construction company's case over South Dakota apportionment to the Minnesota Tax Court's ruling on a packing product company's nexus in the state, this has been ... (more story)
NY Apportionment Regs OK, Court Finds In Paychex Dispute
The New York state tax agency did not exceed its authority when it adopted a regulation that doesn't permit Paychex to include reimbursements for certain expenses, such as paying employee wages, in its busines... (more story)
An Illinois federal judge ruled Friday that credit card companies like Visa and Mastercard must comply with Illinois' landmark law restricting certain credit card fees; however, she also held that national ban... (more story)
A voluntary disclosure program proposal that would allow remote sellers to limit their back sales tax liabilities in states that participate in the Streamlined Sales and Use Tax Agreement fell one vote shy of ... (more story)
New Jersey attorney William Tambussi has slammed the Garden State's response to his bid to toss charges against him in the state's sweeping indictment against power broker George E. Norcross III, claiming it d... (more story)
Washington state would levy a 1% tax on residents with worldwide wealth of more than $100 million and increase taxes on businesses under a budget proposal from outgoing Gov. Jay Inslee.
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify... (more story)
JetBlue can proceed with its arguments that the Florida Department of Revenue's method of determining the airline's miles flown in the state violated the U.S. Constitution's commerce and due process clauses, a... (more story)
Defendants dubbed the "Norcross Enterprise" are fighting back against New Jersey Attorney General Matthew Platkin's assertion that their bid to toss a criminal indictment accusing them of engaging in a sprawli... (more story)
From the U.S. Supreme Court declining to hear a construction company's case over South Dakota apportionment to the Minnesota Tax Court's ruling on a packing product company's nexus in the state, this has been ... (more story)
The New York state tax agency did not exceed its authority when it adopted a regulation that doesn't permit Paychex to include reimbursements for certain expenses, such as paying employee wages, in its busines... (more story)
International More
Osborne Clarke Pro Fined £50K Over Zahawi Libel Letter
A tribunal fined an Osborne Clarke LLP partner who represented Nadhim Zahawi £50,000 ($62,700) on Friday for trying to stop a blogger revealing that the former chancellor was contemplating libel action over al... (more story)
5th Circ. Urged To Deny Tax Break For Doc's Captive Insurance
A physician who owns a network of urgent care clinics was correctly denied tax deductions along with his wife for over $1 million in premiums they paid to insurance companies they owned, the government told th... (more story)
Skat Fights To Bring New Cum-Ex Fraud Case Against Broker
The Danish tax authority argued at a London appeals court on Wednesday that it should not be blocked from bringing fresh tax fraud claims against an English brokerage, contending that the claims cover new mate... (more story)
Morrison Foerster Cites Tariffs As Key M&A Variable For 2025
International law firm Morrison Foerster LLP is among those citing President-elect Donald Trump's tariff plans as a key wild card that could affect mergers and acquisitions deal flow in 2025, a Wednesday repor... (more story)
Dutch Bank Exec Gave IRS Good Tax Tip, DC Circ. Judge Says
D.C. Circuit judges grappled Wednesday with the denial of a whistleblower award to a late Dutch bank executive who tipped off the IRS to tax reporting schemes, with one judge saying during oral arguments that ... (more story)
Tax Court Should Update Framework For Defining Insurance
The U.S. Tax Court's unnecessary determination in Royalty Management Insurance v. Commissioner that a fraudulent transaction did not contain the hallmarks of a legitimate insurance transaction applies a... (more story)
EU Court Rejects Latest Challenge To Portugal's Tax Clawback
A European court rejected a Brazilian-based company's challenge Wednesday to a European Commission ruling that Portugal must claw back tax breaks provided to companies with no local economic activity because t... (more story)
A tribunal fined an Osborne Clarke LLP partner who represented Nadhim Zahawi £50,000 ($62,700) on Friday for trying to stop a blogger revealing that the former chancellor was contemplating libel action over al... (more story)
A physician who owns a network of urgent care clinics was correctly denied tax deductions along with his wife for over $1 million in premiums they paid to insurance companies they owned, the government told th... (more story)
The Danish tax authority argued at a London appeals court on Wednesday that it should not be blocked from bringing fresh tax fraud claims against an English brokerage, contending that the claims cover new mate... (more story)
International law firm Morrison Foerster LLP is among those citing President-elect Donald Trump's tariff plans as a key wild card that could affect mergers and acquisitions deal flow in 2025, a Wednesday repor... (more story)
D.C. Circuit judges grappled Wednesday with the denial of a whistleblower award to a late Dutch bank executive who tipped off the IRS to tax reporting schemes, with one judge saying during oral arguments that ... (more story)
The U.S. Tax Court's unnecessary determination in Royalty Management Insurance v. Commissioner that a fraudulent transaction did not contain the hallmarks of a legitimate insurance transaction applies a... (more story)
A European court rejected a Brazilian-based company's challenge Wednesday to a European Commission ruling that Portugal must claw back tax breaks provided to companies with no local economic activity because t... (more story)