Tax

May 28, 2025
Fried Frank Adds KPMG International Tax Ace In NY

Fried Frank Harris Shriver & Jacobson LLP has hired a KPMG international tax group principal as a tax partner in New York.
May 27, 2025
Trump To Pardon 'Chrisley' Stars Convicted Of Tax Evasion

President Donald Trump is planning to pardon reality TV stars Todd and Julie Chrisley, the Georgia duo sentenced to prison after being convicted of running a yearslong bank fraud scheme and dodging federal taxes, according to a post Tuesday on X by Trump's communications adviser.
May 27, 2025
Mich. Fuel Supplier Fights $8.7M Tax Bill Over Flight Credit

A fuel supplier is challenging the Michigan Department of Treasury's determination that the company cannot claim credit for interstate flights on its returns because it is not an airline operator and is now liable for $8.7 million in tax and interest.
May 27, 2025
Debate Over Moratorium On State AI Oversight Goes To Senate

Before going on recess, the U.S. House of Representatives passed their budget reconciliation bill that includes a hotly debated moratorium on states' enforcement of artificial intelligence-related legislation, and the debate continues as the bill heads to the U.S. Senate, where at least a few Republicans have voiced opposition.
May 27, 2025
Ariz. Asks Justices To Skip Tax Fight Over Plant On Tribe Land

Arizona's tax agency urged the U.S. Supreme Court to pass on a power company's claims that property taxes were illegally levied on a power plant it owns on tribal land, saying the justices have consistently upheld taxes on tribal reservations that solely fall on non-Native Americans.
May 27, 2025
Canada Could Use Tax System For Growth, OECD Says

While Canada's economy has been largely resilient, changes in areas like goods and services taxes and its research and development tax incentives could help protect against projected slowed growth brought on by its trade dispute with the U.S., the Organization for Economic Coooperation and Development said.
May 27, 2025
Crypto Exec's IRS Privacy Appeal Tossed By 5th Circ.

A cryptocurrency executive who sought to quash IRS summonses for his bank records must wait at least until the U.S. government decides whether to bring legal proceedings against him before he can appeal a ruling denying his request to block the agency's demands, the Fifth Circuit said Tuesday.
May 27, 2025
Fla. Biz Owner Missed Tax Appeal Deadline, 11th Circ. Told

The owner of a Florida marketing business who failed to report millions of dollars in income to the Internal Revenue Service missed the deadline to appeal U.S. Tax Court rulings sustaining the related taxes, the U.S. government told the Eleventh Circuit.
May 27, 2025
Suspected Ringleader Of €520M VAT Scheme Turns Self In

The suspected ringleader of a €520 million ($589 million) value-added tax fraud scheme that was under a cross-border investigation has turned himself in, law enforcement agencies said Tuesday.
May 23, 2025
Law360 Reveals Titans Of The Plaintiffs Bar

This past year, a handful of attorneys secured billions of dollars in settlements and judgments for both classes and individual plaintiffs against massive companies and organizations like Facebook, Dell, the National Association of Realtors, Johnson & Johnson, UFC and Credit Suisse, earning them recognition as Law360's Titans of the Plaintiffs Bar for 2025.
May 23, 2025
Trade Court Says Wis. Man Can't Sue Over Trump Tariffs

The U.S. Court of International Trade dismissed a Wisconsin resident's case against President Donald Trump's tariffs Friday, holding that the man's allegations of economic injury are too speculative to create standing to sue.
May 23, 2025
Judge Extends Block On Trump's Government Layoffs

A California federal judge has extended her block of President Donald Trump's executive order directing layoffs at federal agencies, saying a coalition of unions, nonprofits and cities has shown it is likely to succeed in showing the order exceeded the president's authority.
May 23, 2025
Senate Dems Bash Spectrum 'Giveaway' In Budget Bill

Key Senate Democrats who oversee telecommunications issues have lambasted House Republicans for "handing over" swaths of radio spectrum to the wireless industry in the sweeping budget reconciliation bill that GOP lawmakers passed Thursday.
May 23, 2025
Staffing Co. Owner Gets 8 Years For $60M Payroll Tax Fraud

The owner of California staffing companies who admitted to a long-running payroll tax fraud that caused roughly $60 million in tax losses was sentenced to eight years in prison and ordered to pay $38 million in restitution to the Internal Revenue Service, prosecutors said.
May 23, 2025
Mich. Justices To Hear Law Firm's Roof 'Addition' Appeal

Michigan's highest court said it will review whether a law firm office building's new roof was an addition to the property for the purposes of evaluating taxable value, meaning the property's value could increase beyond a 5% cap.
May 23, 2025
Va. Deed Tax Due On Actual Property Value, Ruling Says

Virginia's deed recordation tax is paid based on the current assessed value of a property, rather than its value during a foreclosure sale, the state tax commissioner said.
May 23, 2025
Trump Issues Fresh Tariff Threats Against EU, Apple

President Donald Trump said that the European Union should face a 50% tariff beginning July 9 because trade negotiations are "going nowhere" and that Apple should pay at least a 25% tariff if it doesn't manufacture iPhones in the U.S.
May 23, 2025
Taxation With Representation: Troutman, A&O Shearman

In this week's Taxation With Representation, Blackstone acquires TXNM Energy, OpenAI buys io Products, Lumen Technologies sells its Mass Markets fiber-to-the-home business in 11 states to AT&T, and AMD sells its data center infrastructure manufacturing business to Sanmina.
May 23, 2025
Va. Contractor Denied Real Property Sales Tax Break For Sand

Sand purchased by a Virginia homebuilder is tangible personal property subject to use tax and not real property, the state tax commissioner said, rejecting the builder's argument that the sand was part of the land at its previous location.
May 23, 2025
House Budget Would Sap Emerging Energy Tax Credit Market

The House's sweeping tax and budget legislation would scrap a relatively new financing option that lets project development owners sell valuable green energy tax credits for cash, which would likely doom or severely hamper the burgeoning market for the credits.
May 22, 2025
Critics Decry Budget Bill As Clean Energy 'Attempted Murder'

The budget reconciliation bill that House Republicans passed Thursday replaced an earlier plan to phase out renewable energy tax credits with a 60-day qualification period, leaving project developers struggling to meet a deadline experts say is unrealistic and effectively guts the benefit.
May 22, 2025
Fla. Can't End Tech Groups' Challenge To Social Media Law

A Florida federal judge on Thursday denied the state's motion to dismiss a complaint brought by technology groups challenging a Florida law restricting social media companies from blocking political candidates, ruling that the plaintiffs have standing to sue on behalf of their members.
May 22, 2025
Calif. Judge Likely To Extend Block On Gov't Reorg, Job Cuts

A California federal judge indicated Thursday she'll likely convert her temporary restraining order into a preliminary injunction against President Donald Trump's executive order to reduce the federal workforce, saying the law "seems clear" that presidents cannot issue large-scale agency reductions without congressional approval and "to hold otherwise" would contradict nine previous presidents and 21 congresses.
May 22, 2025
Tax Court Backs IRS In Multibillion-Dollar Facebook Clash

The U.S. Tax Court largely sided with the IRS on Thursday in a multibillion-dollar tax dispute with Facebook, upholding the agency's approach for valuing the company's intangible property but finding it applied the wrong data points in its analysis.
May 22, 2025
Agreement Reached In Lawsuits Over H&R Block Data Breach

H&R Block has reached an agreement with customers who sued the company in separate class actions over a data breach that affected 23,000 people, according to a Missouri federal court.

Expert Analysis

National Bank Act Rulings Facilitate More Preemption Analysis

Two recent National Bank Act preemption decisions from an Illinois federal court and the Ninth Circuit provide the first applications of the U.S. Supreme Court’s May ruling in Cantero v. Bank of America, opening the potential for several circuit courts to address the issue this year, say attorneys at Moore & Van Allen.
Series

Collecting Rare Books Makes Me A Better Lawyer

My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.
Opinion

Judge Should Not Have Been Reprimanded For Alito Essay

Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.
Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example

Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
Perspectives

Accountant-Owned Law Firms Could Blur Ethical Lines

KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.
Trump's Energy Plans: Climate, Data Centers, LNG And More

With a host of executive orders addressing climate and emissions policies, expanded energy development, offshore and onshore projects, liquefied natural gas and more, the second Trump administration has already given energy companies much to consider, say attorneys at Gibson Dunn.
AI Will Soon Transform The E-Discovery Industrial Complex

Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.
Unpacking The Legal Foundation Of Trump's New Trade War

President Donald Trump's recent executive orders and proclamations regarding emergencies at the U.S. border are based on statutory powers enabling a president to address extraordinary external threats — and could be used to fend off legal challenges to the tariffs levied on Mexican and Canadian goods, says Chris Zona at Mandelbaum Barrett.
Trump's Energy Plans: Funding, Permits And Nuclear Power

In the wake of President Donald Trump's flurry of first-day executive orders focusing on the energy sector, attorneys at Gibson Dunn analyze what this presidency will mean for energy-related grants and loans, changes to permitting processes and developments in nuclear power.
When Innovation Overwhelms The Rule Of Law

In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.
What Compensation Committees Must Keep In Mind In 2025

New disclosure obligations, an evolving discussion on the analysis of executive perks and updated proxy adviser policies — on top of a new presidential administration — are all important things compensation committees must pay close attention to in 2025, say attorneys at Simpson Thacher.
Anticipating Direction Of Cosmetics Regulation Under Trump

It is unclear how cosmetics regulation reform from the last few years will fare under President Donald Trump, but the new administration's emphasis on deregulation and Robert F. Kennedy Jr.'s views on product safety provide some insight, say attorneys at Crowell & Moring.
IRS Basis-Shifting Rule Poses Notable Reporting Obligations

While the IRS’ recently finalized rule requiring partnerships to report certain related-party basis adjustment transactions is narrower than originally proposed, taxpayers and their advisers will still need to comb through myriad transactions to comply, say attorneys at Debevoise.
Imagine The Possibilities Of Openly Autistic Lawyering

Andi Mazingo at Lumen Law, who was diagnosed with autism about midway through her career, discusses how the legal profession can create inclusive workplaces that empower openly autistic lawyers and enhance innovation, and how neurodivergent attorneys can navigate the challenges and opportunities that come with disclosing one’s diagnosis.
Series

Documentary Filmmaking Makes Me A Better Lawyer

Becoming a documentary filmmaker has allowed me to merge my legal expertise with my passion for storytelling, and has helped me to hone negotiation, critical thinking and problem-solving skills that are important to both endeavors, says Robert Darwell at Sheppard Mullin.