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Tax

  • May 17, 2019

    Gov't Must Provide Info In Challenge To 2-For-1 Rule Order

    The D.C. federal judge presiding over public interest groups' challenge to President Donald Trump's executive order requiring that for every new regulation, two rules must be eliminated, said Friday that federal agencies must do a better job complying with discovery.

  • May 17, 2019

    Airplane Broker Can't Slip 7-Year Sentence For Skimming

    The Eleventh Circuit said Friday that the lower court did not err in ordering a 90-month prison sentence, and more than $600,000 in restitution, for a former airplane salesman convicted of skimming from his employer.

  • May 17, 2019

    IRS Can't Use Law To Force Health Plan Penalty Payment

    The Internal Revenue Service can’t use the Anti-Injunction Act to dodge an injunction preventing it from collecting payments from employers whose health plans fail to cover birth control, a North Dakota federal court has ruled.

  • May 17, 2019

    Revised Opportunity Zones Offer Tribes New Tool To Spur Biz

    The federal government's recently proposed regulations on opportunity zones provide much-needed guidance to help Native American tribes find ways to use the program to attract investment, but tribes' success will likely depend on how well they can parlay the zones with other sources of federal funding.

  • May 17, 2019

    Ill. Gov. Offers New, Hiked Taxes In $41.5B Infrastructure Plan

    Illinois would double its gas tax and create taxes on streaming services and ride sharing, among other services, to pay for a $41.5 billion infrastructure plan the governor circulated Friday.

  • May 17, 2019

    Mnuchin Snubs Democrats’ Subpoena For Trump’s Tax Info

    Treasury Secretary Steven Mnuchin will not comply with a subpoena from a U.S. House of Representatives committee for President Donald Trump’s tax returns, he announced Friday, setting the stage for a likely court battle against Democrats.

  • May 17, 2019

    Taxation With Representation: Wachtell, Kirkland, Proskauer

    In this week’s Taxation With Representation, KPS Capital Partners buys an air and gas business from Colfax, Hewlett-Packard takes over the supercomputer company Cray, and French chemical maker Arkema purchases an additive manufacturer.

  • May 16, 2019

    Geico Not Liable For Tax, Fees That Insureds Don't Incur

    An Illinois man can't retrieve sales taxes and fees from Geico Corp. to replace a damaged vehicle after a federal judge ruled that he failed to show he had incurred those costs in the first place.

  • May 16, 2019

    High Court Tax Board Case Sparks Fight Over PTAB Immunity

    The University of Minnesota has told the Federal Circuit that a new U.S. Supreme Court ruling that states can’t be sued in another state’s court bolsters the university’s position that its patents are immune from inter partes review, leading the companies challenging the patents to scoff.

  • May 16, 2019

    US Can Enforce IRS Summons For Law Firm's Client Identities

    The U.S. can enforce an Internal Revenue Service summons for client information from the Taylor Lohmeyer Law Firm because the firm failed to show attorney-client privilege protected the information, a Texas federal court found.

  • May 16, 2019

    Marketplace Tax Laws Reshaped Retail, Ex-EBay Official Says

    A year before the landmark Wayfair decision, states changed the structure of retail when they began creating marketplace tax laws, a former high-level official at eBay Inc. said Thursday.

  • May 16, 2019

    $2.8M In Fees Granted To Attys For Class In TurboTax Suit

    A California federal court awarded $2.8 million in fees and costs requested by attorneys representing members of a class action alleging that security flaws in Intuit Inc.'s TurboTax software allowed fraudsters to file almost a million fake tax returns.

  • May 16, 2019

    OECD Deal On Corp. Tax Needed For EU Effort, Official Says

    It would be more effective for there to be a deal among members of the Organization for Economic Cooperation and Development on a minimum corporate tax before the European Union tries to establish one, a European Commission official said Thursday.

  • May 15, 2019

    Netflix Wants To Keep Hiding Info In Suit Over $27M Bonuses

    Netflix wants to continue shielding information that a shareholder says could save a legal challenge to the media giant’s alleged practice of rigging executive bonuses, telling a California judge on Tuesday that the information is protected by attorney-client privilege.

  • May 15, 2019

    Channeling Trump, White House Atty Knocks Dem ‘Do-Over’

    The top White House lawyer told congressional Democrats on Wednesday to abandon their sweeping investigation into alleged abuses of power by President Donald Trump, calling it “political theater” and, reiterating Trump’s own words, an attempted “do-over” of special counsel Robert Mueller’s two-year probe.

  • May 15, 2019

    Sovereignty Ruling Threat To Wayfair Fight, NH Tax Chief Says

    New Hampshire's effort to fight remote sales tax collection has been rebuffed by the U.S. Supreme Court's ruling this week that states can't be sued in other states' courts, the state's top tax administrator said Wednesday.

  • May 15, 2019

    Bowling Alley Heirs Owe $1.3M In Taxes, 6th Circ. Affirms

    A deceased Tennessee man’s estate was liable for $1.3 million in taxes owed by his defunct bowling company since asset transfers to another company were fraudulent, the Sixth Circuit said in a Wednesday affirmation of a U.S. Tax Court decision.

  • May 15, 2019

    Battle Over Trump’s Taxes Headed To Court, Mnuchin Says

    A request from the chair of the House tax panel for six years of President Donald Trump’s tax returns will likely be adjudicated in federal court, Treasury Secretary Steven Mnuchin said Wednesday.

  • May 15, 2019

    Blank Rome Lands Ex-Morris & McVeigh Trust, Estate Attys

    Blank Rome LLP has brought on as partners two former Morris & McVeigh LLP attorneys who specialize in trust and estate planning to join its tax, benefits and private client group, the firm has announced.

  • May 15, 2019

    Feds Dragging Out $18M Offshore Tax Scheme Row, Atty Says

    A Houston-based attorney has asked a Texas federal court to toss an indictment accusing him of evading taxes by allegedly repatriating more than $18 million in untaxed earnings from the Isle of Man, arguing the federal government is taking too long to bring the case.

Expert Analysis

  • Opinion

    IRS Should Use Tax Law To Combat The Opioid Epidemic

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    The IRS, which enforces anti-trafficking tax laws against state-regulated cannabis businesses, should be fair and apply the same policy against pharmaceutical companies that illegally market their opioids, says Kat Allen at Wykowski Law.

  • Treasury's New Rules Streamline Opportunity Zone Program

    Excerpt from Lexis Practice Advisor
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    The U.S. Department of the Treasury's second set of proposed regulations on the opportunity zone program make participation easier overall and open the door for operating businesses in OZs, though not all the new provisions are welcome, says Jessica Millett of Duval & Stachenfeld.

  • The Evolution Of Software As A Service Taxes Post-Wayfair

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    Due to the expanded nexus provisions following South Dakota v. Wayfair, software as a service providers need to be especially aware of the recent — and, at times, divergent — state law developments in SaaS taxation, say attorneys at Pillsbury.

  • Q&A

    A Chat With Gilead Sciences Legal Ops Leader Gary Tully

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    In this monthly series, legal recruiting experts from Major Lindsey & Africa interview legal industry leaders about the increasingly competitive business environment. Here, Rod Osborne talks with Gary Tully, head of legal operations at Gilead Sciences.

  • High Court Hyatt Decision Will Limit State Tax Appeal Options

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    This week’s straightforward U.S. Supreme Court opinion in Franchise Tax Board v. Hyatt was rooted in sovereign immunity concepts and is unlikely to have ongoing state tax impacts other than limiting where taxpayers can bring suit, says Jeffrey Reed of Kilpatrick Townsend.

  • FBAR Taxpayers May Face Steeper Failure-To-File Penalties

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    U.S. v. Boyd, a California federal court case decided last month, suggests that the IRS could be transitioning to a more aggressive penalty approach for foreign bank and financial account reporting violations — meaning more risk for U.S. taxpayers with multiple foreign financial accounts, say Friedemann Thomma and Rebecca Chappell of Venable.

  • Opinion

    Time To Repeal Costly, Inequitable Stepped-Up Basis Tax Rule

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    The 2017 tax overhaul inadvertently allowed more taxpayers to exploit "stepped-up basis," an arcane estate tax valuation rule that costs the federal government billions of dollars annually. Congress must take action, say professors at Rutgers Business School, Duke Law School and Tulane University.

  • Series

    Why I Became A Lawyer: Completing The Journey Home

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    My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.

  • NJ Tax Stop: New Millionaires' Tax May Spur High Earners' Exit

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    In light of the governor's proposal to lower the threshold for the 10.75% millionaires' tax from an income of $5 million to $1 million, coupled with federal tax law changes, it is no surprise that, now more than ever, wealthy New Jersey taxpayers are contemplating moving to more tax-friendly states, say attorneys at Cole Schotz.

  • Tax Refunds And Rate Reductions Ahead For Florida Cos.

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    Though the passage of the Tax Cuts and Jobs Act exposed Florida taxpayers to the risk of a substantial tax increase, some legislators had the foresight to enact protections, which are now forecast to result in hundreds of millions of dollars in refunds and rate reductions to state corporations, says H. French Brown of Dean Mead.