Tax

  • October 19, 2020

    Fidelity Blasted At Trial For 'Blindly Dumping' Donated Shares

    Fidelity Investments' charitable giving arm made false promises to philanthropists to secure their donation of stock and then exhibited "gross incompetence" by "blindly dumping" the shares, a California federal magistrate judge heard Monday during opening arguments in a closely watched bench trial over who controls gifts made to donor-advised funds.

  • October 19, 2020

    Health Execs Must Do Time, Pay $1.5M In Benefits Scheme

    Two Kentucky health care executives were each sentenced to over two years in prison and ordered to pay a combined $1.5 million in restitution for pocketing employees' benefit contributions, the U.S. Department of Labor said Monday.

  • October 19, 2020

    EU Presses UK To Move On Irish Border VAT, Customs Checks

    European Union leaders urged the U.K. on Monday to set up a means for conducting customs and value-added-tax checks at Britain's border with Ireland before Jan. 1 if talks fail to produce a post-Brexit free trade deal.

  • October 19, 2020

    Mich. Residents Granted Class Status In Tax Foreclosure Row

    A U.S. district judge certified a class of property owners challenging Michigan counties' practices of auctioning tax debtors' property and keeping the excess proceeds.

  • October 19, 2020

    Trump Elevates Former Pence Counsel To Lead Claims Court

    President Donald Trump appointed Judge Eleni Roumel to chief judge of the U.S. Court of Federal Claims on Monday, just nine months after her confirmation to the court.

  • October 19, 2020

    Preparing The Next Generation Of Female Trial Lawyers

    To build the ranks of female trial attorneys, law firms must integrate them into every aspect of a case — from witness preparation to courtroom arguments — instead of relegating them to small roles, says Kalpana Srinivasan, co-managing partner at Susman Godfrey.

  • October 19, 2020

    Mentorship Is Key To Fixing Drop-Off Of Women In Law

    It falls to senior male attorneys to recognize the crisis female attorneys face as the pandemic amplifies an already unequal system and to offer their knowledge, experience and counsel to build a better future for women in law, says James Meadows at Culhane Meadows.

  • October 19, 2020

    What BigLaw Can Do To Actually Retain Female Attorneys

    Even as BigLaw firms are recruiting women into their ranks in larger numbers, their presence in leadership and equity partnerships remains stubbornly low. Here’s a look at why this is happening — and what firms can do.

  • October 19, 2020

    Female Attorneys Gain Ground In Battle For Clerkships​

    More female attorneys are landing highly sought-after U.S. Supreme Court clerkships, and the experience can turbocharge their careers.

  • October 19, 2020

    These Firms Have The Most Women In Equity Partnerships

    At most U.S. law firms, equity partnerships are still overwhelmingly male, but women at some firms are starting to shake up that reality and smash the glass ceiling that has prevented them from advancing to the uppermost ranks. Here are this year’s Ceiling Smashers — the firms that are outpacing their peers as the legal industry works toward closing the gender gap in its top ranks.

  • October 19, 2020

    Wearing Natural Hair In BigLaw

    In this video, four Black women share their thoughts about wearing natural hair as BigLaw attorneys. In order of appearance, the attorneys are: Rukayatu Tijani, founder of Firm for the Culture and a former BigLaw associate; Delilah Clay, legislative & regulatory advisor at Manatt Phelps & Phillips LLP; Rachel Boyce, associate at Cooley LLP; and Crystal Nwaneri, associate at Fenwick & West LLP.

  • October 19, 2020

    Fla. Justices Decline Review Of Airbnb's County Tax Win

    Florida's Supreme Court declined Monday to review a lower court's ruling that Airbnb and other online vacation rental platforms weren't required to collect and remit county taxes on short-term rental bookings.

  • October 19, 2020

    DOJ Again Backs Raiders In 9th Circ. Oakland Antitrust Row

    The U.S. Department of Justice continues to back the Raiders in the City of Oakland's antitrust suit against the team and the NFL, this time with a Ninth Circuit amicus brief urging the appellate court to agree that lost tax revenue is not "cognizable" as an antitrust injury.

  • October 19, 2020

    NY Court Trims Docs For Handover In NY AG's Trump Probe

    A New York judge reversed course and decreased the number of documents a former Trump Organization attorney must produce to New York's attorney general in a probe into whether President Donald Trump inflated asset values.

  • October 19, 2020

    TozziniFreire In Sao Paulo Picks Up Tax And Trade Pro

    The Sao Paulo office of TozziniFreire Advogados acquired an experienced international tax partner from Schneider Pugliese.

  • October 19, 2020

    NY Strip Club's $4M Sales Tax Suit Prohibited, 2nd Circ. Says

    A gentleman's club cannot challenge $4.2 million in unpaid New York state sales taxes for selling in-house currency because federal courts usually cannot restrain state tax collections, the Second Circuit said Monday.

  • October 19, 2020

    Trump Asks Justices To Grant Bid To Halt Vance Subpoena

    President Donald Trump asked the U.S. Supreme Court again on Monday to halt enforcement of a grand jury subpoena for his tax and other records issued by the Manhattan district attorney's office, saying the records request risked public disclosure.

  • October 19, 2020

    Indicted Harvard Professor Can't See Grand Jury Minutes

    A Harvard professor charged with lying about his ties to China and additional tax offenses will not be able to review secret grand jury minutes despite his claim that prosecutors' charged rhetoric about spying may have tainted the proceedings.

  • October 19, 2020

    Thomas Decries Okla. 'Uncertainty' As Tribal Tax Case Denied

    Justice Clarence Thomas on Monday blasted the U.S. Supreme Court for failing to dispel "uncertainty" left by its July ruling on federal, state and tribal jurisdiction in McGirt v. Oklahoma, dissenting sharply from the court's refusal to take up a petition over a state tax on gaming equipment leased to a tribal casino.

  • October 16, 2020

    In Their Own Words: Being A Woman In BigLaw

    Firms are recruiting more women than previously to their ranks, but still have trouble retaining them at the same rate as men. Law360 asked three female attorneys who left BigLaw about how firms could better serve the women who work there. Here's what they have to say.

  • October 16, 2020

    Law360's Glass Ceiling Report: What You Need To Know

    While law firms continue to tout efforts to close the gender gap in their ranks, parity is still a distant goal, our annual survey shows.

  • October 16, 2020

    Glass Ceiling Report: How Does Your Firm Measure Up?

    Law firms have long struggled to clear the barriers women face in the legal industry, particularly when it comes to accessing the top ranks. Law360's 2020 Glass Ceiling Report looks to shed light on the progress firms have made and where they aim to be.

  • October 16, 2020

    Vance Asks Justices To Deny Trump's Bid To Halt Subpoena

    President Donald Trump's request to the U.S. Supreme Court to halt a grand jury subpoena for his tax and business records should be denied after lower courts thoroughly rejected the president's arguments, the Manhattan district attorney told the court Friday.

  • October 16, 2020

    Daily Fantasy Sports Dues Count As Wagers, IRS Says

    Money that individuals pay to participate in daily fantasy sports leagues qualify as wagering transactions and can therefore be subject to write-offs provided by the tax code, the Internal Revenue Service said in a memorandum released Friday. 

  • October 16, 2020

    India Mulling 'All Options' Over $2.7B Vodafone Arb. Award

    The government of India denied reports that the country's attorney general is against an appeal of a 200 billion-rupee ($2.7 billion) recent arbitration award to mobile phone operator Vodafone, but it said "all options" are being considered in the high-profile case.

Expert Analysis

  • Kentucky Tax Talk: What Appeals Board Reinstatement Means

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    While local customs and precedent set by the Kentucky Board of Tax Appeals prior to 2016 will likely be back upon the board's pending reinstatement, taxpayers and practitioners should be aware of several important practice and structural changes, say attorneys at Frost Brown.

  • Guest Feature

    5 Ways Firms Can Avoid Female Atty Exodus During Pandemic

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    The pandemic's disproportionate impact on women presents law firms with a unique opportunity to devise innovative policies that will address the increasing home life demands female lawyers face and help retain them long after COVID-19 is over, say Roberta Liebenberg at Fine Kaplan and Stephanie Scharf at Scharf Banks.

  • IRS Real Estate Push Should Wake Up Foreign Investors

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    Two recently announced Internal Revenue Service audit campaigns targeting nonresident alien investment in U.S. real estate should prompt foreign investors to prepare for greater scrutiny as the agency works to improve tax compliance around such transactions, say attorneys at Holland & Knight.

  • NY Tax Talk: Trump Tax Returns, Revenue Rebound, Reform

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    In the latest New York tax news update, Craig Reilly at Hodgson Russ discusses President Donald Trump's ongoing tax return disclosure battle, a rebound in the state's post-COVID-19 revenue decline, noteworthy tax appeals cases involving Disney and Mars, and recent guidance on corporate tax reform.

  • Facing Policy Shifts, Oil And Gas Cos. Need Depreciation Help

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    As cost and policy considerations accelerate the shift away from oil and gas, legacy energy companies need the Federal Energy Regulatory Commission to reevaluate depreciation schedules for assets such as pipelines and gas-fired power plants, say attorneys at Sheppard Mullin.

  • How The State And Local Regulatory Landscape Is Expanding

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    States and localities are employing creative methods to emerge as key players in regulatory enforcement traditionally dominated by the federal government, including False Claims Act investigations, unfair and deceptive acts and practices claims, and pharmaceutical sector regulation, say attorneys at Troutman Pepper.

  • Opinion

    Colo. Ballot Measure Will Help Fix Property Tax Regime

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    If Colorado voters pass Amendment B in the upcoming election, it would repeal a now-unnecessary policy aimed at keeping residential property taxes low and serve as an important first step in providing the General Assembly with the flexibility and discretion it needs to responsibly allocate tax revenues, say Jonathan Bender and Colin Oldberg at Holland & Hart.

  • Outside Whistleblowers Are Critical To Exposing Fraud

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    Outsiders like industry experts, competitors, public interest organizations and concerned citizens often have deep knowledge, industry data and financial incentives that put them in a better position than insiders to spot fraud, say attorneys at Youman & Caputo, Fox Rothschild, Goldstein & Russell and Herrera Purdy.

  • Opinion

    Lawyers Must Fight Voter Suppression This Election Season

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    Lawyers should use their unique skill sets, knowledge and spheres of influence to fight burdensome ID requirements and other voter suppression tactics that may influence the 2020 elections, and to participate in potential post-election litigation, say CK Hoffler and Allyce Bailey at the National Bar Association.

  • Why Online Mediation May Be Here To Stay

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    Videoconferenced mediation offers several advantages and helps cases settle faster and more cordially, making it hard to imagine going back to logistically difficult in-person dispute resolution after COVID-19 restrictions are gone, says Sidney Kanazawa at ARC.

  • Inside The IRS' Final First-Year Depreciation Tax Regulations

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    Daniel Kiely and Minju Kim at Mayer Brown discuss key issues and clarifications associated with the Internal Revenue Service's recently finalized regulations allowing companies to deduct depreciable assets the year the business puts them in place.

  • CFTC Climate Change Report Highlights Costs Of Inaction

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    The Commodity Futures Trading Commission's recent report on climate change and financial markets makes it clear that while government regulation of carbon dioxide pollution may have negative consequences, letting greenhouse gas emissions go unaddressed could harm investors, asset managers and financial institutions, says Nicholas Fox at Goldberg Segalla.

  • Clients Have The Power To Promote Wellness At Law Firms

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    Law firm clients can play a role in lowering mental distress in the legal profession by seeking lawyer wellness data from firms and factoring those responses into outside counsel hiring decisions, says Jonathan Prokup at Cigna.

  • Opinion

    Appellate Courts Should Welcome Well-Crafted Amicus Briefs

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    A Seventh Circuit judge's recent order granting leave for three organizations to file amicus curiae briefs in Prairie Rivers Network v. Dynegy Midwest Generation is a reminder that relevant, nonduplicative amicus briefs can provide courts with helpful perspective, important facts and legal arguments, says Lawrence Ebner at Capital Appellate Advocacy.

  • What Hiring Law Firms Should Consider Instead Of Grades

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    With law schools forgoing traditional grading due to the pandemic, hiring firms that have heavily weighted first-year grades during the on-campus interview process should turn to metrics that allow a more holistic view of a candidate, says Kate Reder Sheikh at Major Lindsey.

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