Tax

  • January 31, 2025

    UK Cos. See Brexit's Legacy In Steeper Compliance Costs

    British companies doing business in the European Union have seen their tax compliance burden rise as the U.K.'s tax rules have moved further away from EU rules in the five years since Brexit, though the largest companies have been able to absorb the costs.

  • January 31, 2025

    Trump Threatens 100% Tariffs Over New BRICS Currency

    President Donald Trump has lobbed tariff threats at a new group of countries, saying that he would implement 100% tariffs on members of the so-called BRICS coalition — which includes Brazil, Russia, India and China — if they follow through on plans to create a gold-backed currency as an alternative to the U.S. dollar.

  • February 07, 2025

    Law360 Seeks Members For Its 2025 Editorial Boards

    Law360 is looking for avid readers of our publications to serve as members of our 2025 editorial advisory boards.

  • January 31, 2025

    Goldstein Case Raises The Stakes For A DOJ Office In Tumult

    The bombshell tax-crimes case of U.S. Supreme Court lawyer Tom Goldstein landed at a U.S. Department of Justice outpost in Maryland that has been plagued in recent years by botched cases and internal strife — pitting a beleaguered U.S. attorney against a pair of former Donald Trump attorneys itching for a fight.

  • January 31, 2025

    Trump Funding Freeze Blocked As Court Doubts Reversal

    A Rhode Island federal judge on Friday issued a temporary restraining order barring the Trump administration from freezing spending on federal grant and aid programs, calling the move illegal and saying the issue was not mooted by a White House memo claiming the directive had been rescinded.

  • January 31, 2025

    Tax Group Of The Year: Sullivan & Cromwell

    Sullivan & Cromwell LLP's diverse tax practice went from strength to strength this year, from advising well-known companies like Boeing and Discover that inked multibillion-dollar deals to counseling industry leaders in shaking up their sectors, helping it earn a place among the 2024 Law360 Tax Groups of the Year.

  • January 31, 2025

    Taxation With Representation: Cravath, Gibson Dunn, Milbank

    In this week's Taxation with Representation, Eversource Energy sells Aquarion Water Co., Diversified Energy Partners acquires oil and gas company Maverick, Lantheus Holdings buys Evergreen Theragnostics, and NASCAR champion Jimmie Johnson becomes the majority owner in the Legacy Motor Club racing team.

  • January 31, 2025

    6th Circ. Affirms Pot Biz Owner's $2.8M Tax Restitution

    The owner of a medical marijuana dispensary who was sentenced to prison and ordered to pay $2.8 million in restitution to the IRS after being convicted of tax crimes failed to convince the Sixth Circuit that Congress lacked the power to tax his sales of the drug.

  • January 31, 2025

    Trump Initiates Trade War With 25% Tariffs On Canada, Mexico

    President Donald Trump said Saturday he is imposing 25% tariffs on imports from Mexico and Canada, and a 10% tariff on imports from China, citing the U.S. national security risks associated with illegal drug flows.

  • January 30, 2025

    Retired Atty Says Schwab, Others Flubbed His Contributions

    A retired attorney said companies that managed his individual retirement plan, including Charles Schwab and Barnes & Thornburg LLP, hampered his tax savings by incorrectly classifying his pretax retirement contributions as posttax contributions, according to a lawsuit filed in an Indiana district court.

  • January 30, 2025

    Florida Salesman Evaded $2M In Tax Over 13 Years, Court Told

    A Florida salesman evaded nearly $2 million in taxes over more than a dozen years while earning more than $10 million by transferring his home and cash to his domestic partner and creating a nominee business, according to an indictment in Florida federal court.

  • January 30, 2025

    Telecom Loses $23M Pa. Tax Case Over Private Line Services

    A telecommunications company is liable for $23 million in gross receipts tax assessed on its services' fees because the private line services it contested were not exempt, the Pennsylvania Commonwealth Court held.

  • January 30, 2025

    Tax Group Of The Year: Skadden

    Skadden Arps Slate Meagher & Flom LLP's tax practice advised on key deals and cases in 2024, including Mars Inc.'s $35.9 million acquisition of Kellanova and BlackRock Inc.'s $12.5 billion acquisition of Global Infrastructure Partners, landing it among the 2024 Law360 Tax Groups of the Year.

  • January 30, 2025

    Dechert's NY Office Adds Tax Pro From Milbank

    Dechert LLP said it has bolstered its global tax group by adding a former special counsel from Milbank LLP to the firm's New York office.

  • January 30, 2025

    Energy Group Urges UK To Link To EU's Carbon-Tax Measure

    The U.K. government should link to the European Union's Emissions Trading System to mitigate the impact of carbon border taxes on businesses in Northern Ireland, an energy industry group said.

  • January 29, 2025

    Court Garbled Pharma Owner's Fraud Charges, 6th Circ. Told

    An Ohio district court misrepresented healthcare fraud charges against a pharmaceutical salesman to a jury, his attorney argued Wednesday before the Sixth Circuit, calling for the court to overturn his 2023 conviction and subsequent restitution order to pay $7 million to the IRS.

  • January 29, 2025

    Pension Plans Seek Trader's Testimony In $2B Tax Fraud Suit

    Pension plans and individuals who Denmark's government alleges received fraudulent refunds have asked a New York federal court to allow U.K. court testimony into the record from a trader who Danish authorities say masterminded a $2.1 billion tax fraud, saying it shows he deceived other participants.

  • January 29, 2025

    Tom Goldstein Seeks To Shield DC Home In Tax Crimes Case

    Appellate lawyer and SCOTUSblog publisher Tom Goldstein asked a Maryland federal judge Wednesday if he could put up three South Carolina properties as collateral for his pretrial release in place of his Washington, D.C., home as he faces charges of tax evasion and mortgage fraud.

  • January 29, 2025

    SCOTUSBlog Publisher Faces Tough Odds In Tax Crimes Case

    SCOTUSblog publisher Tom Goldstein, an expert U.S. Supreme Court lawyer accused of paying gambling debts with funds from his law firm and dodging taxes, faces an uphill battle given the considerable amount of evidence the government has already included in an indictment against him, attorneys told Law360. 

  • January 29, 2025

    Minn. Tax Court OKs Home Value Found By Mass Appraisal

    A home's tax valuation based on mass appraisal was valid, the Minnesota Tax Court ruled, saying the homeowners failed to show evidence of market value below the local assessor's determination.

  • January 29, 2025

    Detroit Public Schools Spar With State Over Tax Future

    A Michigan state judge weighing whether Detroit's public schools can continue collecting a tax to pay down debt said Wednesday the schools' "greatest challenge" is to convince him that they would be irreparably harmed if the tax lapsed.

  • January 29, 2025

    White & Case Adds Global Tax Pro From McDermott

    White & Case LLP announced Wednesday that it is expanding its global tax practice by bringing in a former McDermott Will & Emery partner to its Washington, D.C., office.

  • January 29, 2025

    Tax Group Of The Year: Mayer Brown

    Mayer Brown LLP's bench of tax talent is so deep that it can help its clients sell the Chicago Cubs one day and buy $646 million of Brazilian solar farms on another. The firm's ability to offer tax transaction and advisory services across industries, transaction types and specialty areas earned it a place among the 2024 Law360 Tax Groups of the Year.

  • January 29, 2025

    EU Will Keep Minimum Tax Despite US, Commissioner Says

    The European Union will maintain a 15% minimum corporate tax rate on large companies despite the U.S. government's opposition to the global tax deal, a European commissioner said Wednesday.

  • January 29, 2025

    Philip Morris Owed $11M Refund After NC High Court Ruling

    Philip Morris USA Inc. is owed a tax refund of more than $11 million following a state Supreme Court ruling clarifying North Carolina's $6 million cap on cigarette export tax credits, a state Business Court judge has said.

Expert Analysis

  • Final Hydrogen Tax Credit Regs Add Flexibility For Producers

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    The recently released final regulations implementing the Inflation Reduction Act's clean hydrogen production tax credit offer taxpayers greater flexibility, reducing risk and creating more certainty for investments in the industry, thus diminishing — but not eliminating — the risk of legal challenges to the regulations, say attorneys at Steptoe.

  • 5 Evolving Concerns For Family Offices In 2025

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    Complex regulatory changes and emerging operational risks will force family offices to stay on their toes in 2025, with timely action particularly necessary to address several tax and reporting developments that may affect their investments and business operations, say attorneys at Morgan Lewis.

  • Series

    Illinois Banking Brief: All The Notable Legal Updates In Q4

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    While the last quarter of 2024 didn't bring any notable state financial legislation, Illinois banks did see developments in the challenge to the Interchange Fee Prohibition Act, and received some awaited guidance on credit line disclosures and bank-fintech relationships, say attorneys at Dykema.

  • 7 Ways 2nd Trump Administration May Affect Partner Hiring

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    President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.

  • E-Discovery Quarterly: Rulings On Custodian Selection

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    Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.

  • A Look At PCAOB's Record-Breaking Enforcement In 2024

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    The Public Company Accounting Oversight Board in 2024 brought more enforcement actions against auditors and imposed increasingly higher monetary penalties, showing that it was not afraid to exercise its power to fine and reprimand firms, a trend that will likely continue in 2025, say attorneys at Briglia Hundley.

  • Series

    Exercising On My Peloton Bike Makes Me A Better Lawyer

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    While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.

  • Exploring Venue Strategy For Trump-Era Regulatory Litigation

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    Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.

  • Series

    Playing Esports Makes Me A Better Lawyer

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    Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.

  • How Changes In State Gift Card Laws May Affect Cos. In 2025

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    2024 state legislative movements around the escheatment of unused gift card balances and consumer fraud protections should prompt issuers to consider whether changes in company domicile or blanket cash-back policies are needed in the new year, say attorneys at Alston & Bird.

  • An Associate's Guide To Career Development In 2025

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    As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.

  • Series

    Fixing Up Cars Makes Me A Better Lawyer

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    From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.

  • Opinion

    A New Tax On Employers Could Help Curb Illegal Immigration

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    To better enforce the law against hiring immigrants unauthorized to work in the U.S., Congress should enact a punitive excise tax on compensation paid to such immigrants and amend the False Claims Act to allow qui tam actions against employers for failure to pay such tax, says Ajay Gupta at Moore Tax Law Group.

  • Making The Pitch To Grow Your Company's Legal Team

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    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 the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.

  • Justices May Find Gov't Can Keep Fraudulent Transfer Benefit

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    Based on the justices' questions at the recently argued U.S. v. Miller, the Supreme Court appears prepared to hold that the U.S. — unlike any other creditor — is permitted to retain the benefits of a fraudulent transfer to the detriment of other bankruptcy creditors, says Kevin Morse at Clark Hill.

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