Tax

  • September 24, 2021

    Jury Hears USC Coach Never Heard Of 'Varsity Blues' Recruit

    A former assistant coach for the University of Southern California's women's basketball team told a Boston jury Friday she never heard of a purported recruit who prosecutors say got into the school as part of the "Varsity Blues" admissions scheme.

  • September 24, 2021

    Michigan Asks To Apportion Tax On Keweenaw Bay Tribe

    Michigan has urged a federal judge to tweak his recent ruling that the state can't collect a use tax from the Keweenaw Bay Indian Community and its members for property used within tribal territory, saying the state should be allowed to apportion the tax to collect it from tribal members.

  • September 24, 2021

    IRS Seeks Pre-Pandemic Processing Levels By Year's End

    The Internal Revenue Service has set a goal of restoring its tax return processing to pre-pandemic levels by the end of this year, a senior agency official said Friday.

  • September 24, 2021

    House Panel Urges DC Circ. To OK Full Trump Subpoena

    A congressional committee urged the D.C. Circuit to allow for full enforcement of the committee's subpoena seeking financial records from former President Donald Trump's accounting firm, saying a lower court wrongly circumscribed the request because of unsupported separation-of-powers concerns.

  • September 24, 2021

    Miss. Lawmakers Reach Deal To Legalize, Tax Medical Pot

    Mississippi lawmakers announced an agreement Friday on legislation to legalize and tax medical cannabis — 4½ months after the state Supreme Court invalidated a voter-approved measure to legalize marijuana for medical use.

  • September 24, 2021

    Texas Justices Won't Hear Tax Dispute Over $4.8M Jet

    The Texas Supreme Court denied a petition for review Friday in a case seeking to invalidate a lower court's ruling upholding a tax assessment and fraud penalty on a company's purchase of a $4.8 million business jet.

  • September 24, 2021

    Trump Org Ordered To Comply With NY AG's Subpoenas

    A New York state court ordered the Trump Organization to comply with state attorney general subpoenas for information related to former President Donald Trump as part of a civil probe over whether he inflated the value of his assets.

  • September 23, 2021

    Netflix, Hulu Win Challenge To Calif. City's Video Fees

    A California city can't impose video service fees on Netflix and Hulu because they don't provide live, on-demand services similar to television and don't operate infrastructure in public rights-of-way, a Los Angeles court found.

  • September 23, 2021

    Pot Regulators Say Federal Legalization Can't Impede States

    A coalition of regulators responsible for overseeing the marijuana industries in 35 states on Thursday urged Senate Democrats developing a legalization bill to preserve local jurisdictions' role in administering cannabis policy without federal interference.

  • September 23, 2021

    'Varsity Blues' Kids' Choice Of Sport Didn't Matter, Jury Hears

    A hedge fund founder accused of bribing his daughters' way into top schools as fake athletic recruits was told by the mastermind of the "Varsity Blues" scheme that one child's choice of sport "doesn't matter" and said the other could be a sailor even though she "hates sailing," jurors heard Thursday.

  • September 23, 2021

    EU Warns 4 Member Countries Over Tax Infractions

    The European Union's executive body flagged four member countries Thursday for violations of EU tax law in areas including anti-avoidance rules, taxes on automobiles and value-added tax.

  • September 22, 2021

    Texas Law Barring 'Viewpoint' Social Media Bans Challenged

    Two technology industry groups filed a federal suit Wednesday challenging a new Texas law that prohibits social media companies from banning users based on their "viewpoint," saying the law unconstitutionally restricts the platforms' speech rights.

  • September 22, 2021

    Pa. Justices Ax AutoZone's Value-Based Tax Appeal Challenge

    The Pennsylvania Supreme Court on Wednesday dismissed claims from AutoZone that a Philadelphia-area school district's monetary threshold that determined which tax assessments to challenge violated the state constitution's uniformity clause, saying the case didn't warrant the court's previously granted consideration.

  • September 22, 2021

    IRS Eyes Update To Software Development Cost Guidance

    The Internal Revenue Service intends to update a 2000 revenue procedure detailing conditions under which the agency won't disturb a taxpayer's treatment of software development costs because of changes made by the 2017 tax overhaul, an IRS official said Wednesday.

  • September 22, 2021

    Treasury GC Nominee Takes Heat From Warren Over Recusals

    The Davis Polk partner tapped to be President Joe Biden's top lawyer for the U.S. Treasury Department declined at his confirmation hearing Wednesday to commit to a more extensive recusal from matters involving former clients despite repeated prodding from Sen. Elizabeth Warren, D-Mass.

  • September 22, 2021

    House Dems Push For Tax Breaks For Municipal Broadband

    House Democrats are aiming to offer a new tax credit for municipal broadband services as part of the sweeping $3.5 trillion legislation encompassing major portions of President Joe Biden's domestic agenda.

  • September 21, 2021

    Trump Sues Niece, NYT For $100M Over Tax Record 'Crusade'

    Former President Donald Trump sued The New York Times, several of its reporters and his niece for at least $100 million in New York state court on Tuesday, saying they publicly revealed his confidential tax records in an effort to make money and "advance their political agenda."

  • September 21, 2021

    PwC Can't Shed City's Claim In Valeant Securities Suit

    A New Jersey federal judge on Tuesday refused to free PricewaterhouseCoopers from the remainder of a long-running securities lawsuit brought by investors of the former Valeant Pharmaceuticals International Inc., reasoning that an Arizona city and its pension fund met the pleading requirements for its stock-drop claim.

  • September 21, 2021

    'Varsity Blues' Dad Invited Plotter To Versailles Bash, Jury Told

    A hedge fund founder facing charges in the first "Varsity Blues" trial invited the mastermind of the college admissions bribery plot to an extravagant birthday bash at the former home of the French monarchy, a Boston jury heard Tuesday as prosecutors sought to outline a quid-pro-quo relationship.

  • September 21, 2021

    Calif. Tribe Drops Suit Over County's Casino Tax Plan

    The Buena Vista Rancheria of Me-Wuk Indians and a California county have agreed to end their dispute in federal court over a contract the tribe said was unlawful because it created an unfair tax arrangement for its recently built casino.

  • September 21, 2021

    Tobacco Co. Owes NJ $1.4M In Tax Add-Back Row, Panel Says

    A New Jersey appeals court reversed a state tax court opinion Tuesday and found the state tax division properly rejected a tobacco company's deductions of $1.4 million in royalty payments to a subsidiary it added back to its net income.

  • September 21, 2021

    11th Circ. Questions IRS Effort To Tax CSX Reimbursements

    A federal appeals judge on Tuesday questioned whether attorneys for the Internal Revenue Service were attempting to tighten the requirements for companies to claim employee moving expenses as tax-exempt in a $16 million CSX case.

  • September 21, 2021

    Holland & Knight, RSM Win Pause Of Fund's Negligence Suits

    A New Jersey appeals court on Tuesday paused an investor fund's suits against Holland & Knight, RSM and others alleging faulty advice led to millions in additional federal taxes, saying the cases should wait for the U.S. Tax Court's input.

  • September 21, 2021

    Former Mass. Mayor Gets 6 Years For 'Corrosive' Corruption

    The former mayor of a Massachusetts city was sentenced to six years in prison Tuesday for what a federal judge called the "corrosive'' public-corruption crime of forcing marijuana businesses to pay bribes in order to open.

  • September 20, 2021

    FCC Asked To Reconsider 'Punitive' 911 Fee Diversion Rules

    The Federal Communications Commission has been asked to reconsider its new rules meant to discourage states and localities from diverting money collected for 911 infrastructure to other purposes, which a Colorado municipal body is calling "clearly punitive."

Expert Analysis

  • 3 Attorney Ethics Considerations For Litigation Funding

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    The growth of the litigation finance industry has generated questions on the obligations of counsel when their clients are seeking outside capital to fund litigation, which litigators must understand when providing information to a third-party funder and discussing legal strategy with a client, says Matthew Oxman at LexShares.

  • How ABA Opinion Shifts Alternative Biz Structure Landscape

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    A recent American Bar Association opinion approving lawyers' passive investment in nonlawyer-owned firms eliminates a hurdle for law firms wishing to scale their practice through alternative business structures, but aspiring investors should follow a few best practices, say Hilary Gerzhoy and Deepika Ravi at Harris Wiltshire.

  • Telehealth Providers Must Beware Of Fraud As Industry Grows

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    A recent fraud charge against a telehealth executive highlights the rise we're seeing in telefraud scams during the industry's pandemic growth, and there are some steps that all health providers should take to stay clear of potentially illegal arrangements, says LaTawnda Moore at Dinsmore.

  • Texas Tax Talk: Alarming Redefinition Of Nontaxable Services

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    In a concerning trend following two rulings from the Texas Comptroller, taxpayers in a variety of industries are facing audits that attempt to reclassify traditionally nontaxable service agreements as taxable equipment rentals, thereby unexpectedly increasing businesses' sales tax exposure, say attorneys at Baker Botts.

  • Series

    Embracing ESG: HPE Counsel Talk Effective Board Oversight

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    Governance teams can more effectively shape board oversight of environmental, social and governance issues by ensuring organizationwide agreement on the most relevant issues, building a materiality framework that reflects stakeholder input, and monitoring the integration of ESG into operations, say Rishi Varma and Derek Windham at Hewlett Packard Enterprise.

  • Parsing New Int'l Tax Reporting Rules For Pass-Throughs

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    Attorneys at Grant Thornton unpack the Internal Revenue Service’s new pass-through entity reporting requirements for international tax matters and the accompanying guidance for penalty relief, and suggest how companies should prepare for what may be the most significant change to the partnership compliance function in decades.

  • Opinion

    Justice Gap Demands Look At New Legal Service Models

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    Current restrictions on how lawyers structure their businesses stand in the way of meaningful access to justice for many Americans, so states should follow the lead of Utah and Florida and test out innovative law firm business models through regulatory sandboxes, says Zachariah DeMeola at the Institute for the Advancement of the American Legal System.

  • Series

    Embracing ESG: Leidos GC Talks Social Responsibility

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    Recent criticisms of corporate commitments to stakeholders such as employees and communities — implicitly opposing environmental, social and governance initiatives — are fundamentally flawed and display a serious misunderstanding of contemporary investor priorities and dynamics, says Jerald Howe at Leidos.

  • Lessons In Crisis Lawyering 20 Years After 9/11

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    Dianne Phillips at Holland & Knight recounts her experiences as in-house counsel at a liquefied natural gas company in the tumultuous aftermath of Sept. 11, 2001, and details the lessons she learned about lawyering in a crisis, including the importance of careful forethought and having trusted advisers on speed dial.

  • Why Structured Data Is Increasingly Important To Your Case

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    During discovery, legal teams often overlook structured data — the rows of information found in financial ledgers and similar corporate systems — and consider it secondary to emails and other anecdotal evidence, but this common mistake could mean litigators are missing key elements of a dispute, say consultants at Alvarez & Marsal.

  • Kentucky Tax Talk: Confusion Over Manufacturing Exemptions

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    The Kentucky Court of Appeals' recent opinion in Century Aluminum v. Department of Revenue grappled with the state's sales and use tax exemptions for machinery, equipment and supplies used in manufacturing — but the decision seems to be at odds with an earlier court ruling, leaving taxpayers with unclear guidance, say attorneys at Frost Brown.

  • Series

    Embracing ESG: AIG Counsel Talks SEC Risk Alert

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    As the U.S. Securities and Exchange Commission responds to the changing landscape on environmental, social and corporate governance investing, including with its recent risk alert, it is imperative that the regulator take a measured approach, says Kate Fuentes at AIG.

  • A Look At Global Tax Enforcement Developments: Part 2

    Excerpt from Practical Guidance
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    Sean Craig at LexisNexis examines recent investigations by the Joint Chiefs of Global Tax Enforcement and their impact on U.S. taxpayers, as well as the growing significance of transfer pricing disputes and policies for future enforcement.

  • A Look At Global Tax Enforcement Developments: Part 1

    Excerpt from Practical Guidance
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    Sean Craig at LexisNexis looks at how international initiatives, such as the Joint Chiefs of Global Tax Enforcement, are addressing cryptocurrency-related tax evasion, and how the COVID-19 pandemic and increasing demands for governmental welfare programs are driving global tax policy.

  • What The Judiciary's Font Recommendations Can Teach Us

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    The D.C. Circuit's recent soft prohibition on Garamond and the ensuing debates about courts' font preferences should serve as a helpful reminder of a larger point — every departure from convention in legal writing carries some level of risk, says Spencer Short at Stradley Ronon.

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