Tax

  • April 30, 2024

    BREAKING: Trump Held In Contempt In NY Hush Money Trial

    Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Follow along here.

  • April 29, 2024

    Hunter Biden Threatens To Sue Fox News For 'Revenge Porn'

    An attorney representing Hunter Biden threatened Fox News with a lawsuit over allegations it violated New York's "revenge porn" law by publishing nude pictures of him taken off his notorious laptop, according a letter obtained Monday by Law360.

  • April 29, 2024

    Ex-COO Of Mo. Charity Gets 3 Years For Bribing Officials

    The former chief operating officer of a Missouri-based healthcare charity was sentenced to three years in prison Monday after admitting she and her husband, the charity's ex-chief financial officer, conspired to bribe elected officials in Arkansas, according to Missouri federal court documents.

  • April 29, 2024

    Court Can Make Widow Pull $2.5M From Swiss Bank, US Says

    A Colorado federal court can force a widow to send $2.5 million from a Swiss bank to the U.S. to repay her late husband's penalties and interest for failing to report his foreign accounts, the U.S. told the court.

  • April 29, 2024

    OECD Nations Steer UN Tax Talks Toward Decision-Making

    The terms of reference for a United Nations global tax convention should guide the decision-making of a committee that will negotiate substantive provisions later even though some governments prefer to defer debate on the decision-making procedures to the General Assembly, several OECD government representatives said Monday.

  • April 29, 2024

    Pa. Retirement Home Wants Ed Board Tax Challenge Nixed

    The nonprofit owner of a retirement community in a suburb of Pittsburgh has filed a lawsuit against the local school board claiming that the board violated a soon-to-expire payment in lieu of taxes, or PILOT, agreement that was brokered almost 15 years ago.

  • April 29, 2024

    Catching Up With Delaware's Chancery Court

    A multibillion-dollar Tesla trust proposal, a Truth Social bond, power plays over Prince's estate, and three in the ring for World Wrestling Entertainment. All of this and much more came up in Delaware Chancery Court dockets last week.

  • April 29, 2024

    11th Circ. Should Nix Tax Court Judges' Shield, Widow Says

    The widow of a supermarket butcher told the Eleventh Circuit that the U.S. Tax Court not only wrongly upheld tax liabilities against her stemming from her husband's tax filings but also erroneously affirmed unconstitutional job protections for its judges. 

  • April 29, 2024

    IRS To Open $6B 2nd Round Of Advanced Energy Tax Credits

    The IRS will start taking applications May 28 from project owners seeking to get part of a $6 billion second round of tax credits for developments that will support the clean energy industry, such as solar glass manufacturing and metal recycling facilities, the agency said Monday.

  • April 26, 2024

    Law360 Reveals Titans Of The Plaintiffs Bar

    In the past year, plaintiffs have won settlements and judgments for millions and billions of dollars from companies such as Wells Fargo, Goldman Sachs, Facebook and Fox News, with many high-profile cases finally wrapping up after years of fighting. Such cases — involving over-the-top compensation packages, chemical contamination, gender discrimination and data mining — were led by attorneys whose accomplishments earned them recognition as Law360's Titans of the Plaintiffs Bar for 2024.

  • April 26, 2024

    Trump Casts Tabloid Deal As 'Standard Operating Procedure'

    Donald Trump's attorneys tried to undermine Manhattan prosecutors' lead witness in his criminal trial on Friday, casting his deal to boost his presidency with the help of a friendly tabloid baron as nothing more than a savvy business relationship that was perfectly legal.

  • April 26, 2024

    10th Circ. Says Colo. Tax Ballot Law Doesn't Compel Speech

    A Colorado law requiring that financial impacts be included in the titles of some tax-related ballot initiatives does not cause "improperly compelled" speech, the Tenth Circuit said Friday, rejecting a conservative group's bid to block the law.

  • April 26, 2024

    4 Goals For Gov'ts To Pursue In The UN Tax Convention

    The United Nations' framework convention on international tax cooperation should resolve digital taxation, incorporate tax transparency conventions, seek consensus on tax allocation issues but adopt best practices by simple majority, and help fund development goals, officials and experts told Law360 as governments began negotiations Friday.

  • April 26, 2024

    Mich. Biz Groups Can't Block Corporate Transparency Act

    A Michigan federal judge denied a group of small businesses immediate relief from the reporting requirements of a federal anti-money laundering law but voiced concerns about the law's privacy implications in a Friday bench ruling. 

  • April 26, 2024

    Ex-Mass. Trooper Handed 5 Years For No-Work OT, Tax Fraud

    A former Massachusetts state trooper convicted of stealing overtime pay, lying on his taxes and cheating to get student aid for his son was sentenced Friday by a federal judge to five years in prison for his leadership role in the sprawling overtime fraud scheme.

  • April 26, 2024

    Coverage Recap: Day 4 Of Trump's NY Hush Money Trial

    Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from day four.

  • April 26, 2024

    TETRA Tech Shareholder Sues In Del. To Stop Poison Pill

    A TETRA Technologies Inc. investor has filed a proposed class action in Delaware's Court of Chancery accusing the company of adopting a poison pill as a prohibited anti-takeover weapon rather than an allowable shield for $411 million in tax-advantaged net operating losses.

  • April 26, 2024

    Ireland Received Nearly €24B In Corp. Taxes In 2023

    Corporations paid Ireland €23.8 billion ($25.5 billion) in taxes in 2023, a 5.3% increase over 2022, making corporate tax receipts the second-largest tax revenue generator in the country, according to the Irish revenue department.

  • April 26, 2024

    Colo. House OKs Lower Age For Historic Structure Tax Credit

    Colorado would reduce the age requirement for the properties eligible for the state's historic structures tax credit, postpone its sunset and make other changes under legislation approved by the state House on Friday.

  • April 26, 2024

    Colo. House OKs Land Cleanup Tax Credit Extension

    Colorado would extend its income tax credit for certain environmental remediation of contaminated property for five years under legislation approved Friday by the House of Representatives.

  • April 26, 2024

    The Week In Trump: Tabloid Testimony, High Court Drama

    Donald Trump and his attorneys have been fighting high-stakes legal battles on several fronts as they grappled with a criminal hush money trial in Manhattan, argued at the U.S. Supreme Court for presidential immunity and tried to quash criminal election interference-related charges in Georgia.

  • April 26, 2024

    Gov't Wants Ex-Boston Celtic Imprisoned For Health Plan Scheme

    Prosecutors asked a Manhattan federal judge to sentence former Boston Celtics player Glen "Big Baby" Davis to roughly three years in prison after he was convicted of scheming with a group of ex-pros to submit fraudulent invoices to the NBA's healthcare plan.

  • April 26, 2024

    4 More Indicted In Alleged Abusive Trust Tax Scheme

    A federal grand jury in Denver indicted four more people in connection with what prosecutors call a conspiracy to defraud the government in a multistate scheme to promote abusive tax shelters using sham trusts to hide business income and illegally deduct personal expenses such as family weddings.

  • April 26, 2024

    Philly Mayor Creates Property Assessment Task Force

    Philadelphia will designate a task force to study and address inequities in the city's residential property tax assessments, the mayor announced Friday.

  • April 26, 2024

    Ex-Moody's GC Cops To Tax-Filing Fail On $54M Paycheck

    The former general counsel for Moody's Corp. has pled guilty to willfully failing to file federal income tax returns for four years in which he collected $54 million in income, federal prosecutors announced Friday.

Expert Analysis

  • Circuit Split Brews Over Who's A Securities Seller Under Act

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    A Securities Act section that creates private liability for the sale of an unregistered security is rapidly becoming a favored statute for plaintiffs to wield against participants in both the digital asset and traditional securities markets, but the circuit courts have diverged on who may be held liable for these violations, say Jeffrey L. Steinfeld and Daniel Aronsohn at Winston & Strawn.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • Unpacking The Bill To Extend TCJA's Biz-Friendly Tax Breaks

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    Attorneys at Skadden examine how a bipartisan bill currently being considered by the U.S. Senate to save the Tax Cuts and Jobs Act's tax breaks for research and development costs, and other expiring business-friendly provisions, would affect taxpayers.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • Deciding What Comes At The End Of WTO's Digital Tariff Ban

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    Companies that feel empowered by the World Trade Organization’s recent two-year extension of the ban on e-commerce tariffs should pay attention to current negotiations over what comes after the moratorium expires, as these agreements will define standards in international e-commerce for years to come, say Jan Walter, Hannes Sigurgeirsson and Kulsum Gulamhusein at Akin Gump.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • Consider 2 Alternative Exit Plans In RE Distress Scenarios

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    In the face of an impending wave of foreclosures, lenders and borrowers alike should consider two exit strategies — deed-in-lieu of foreclosure and consent foreclosure — that can mitigate potential costs and diminution in property value that could be incurred during a lengthy proceeding, say attorneys at BCLP.

  • Tips For Balanced Board Oversight After A Cyberincident

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    The U.S. Securities and Exchange Commission's cybersecurity disclosure rules, as well as recent regulatory enforcement actions bringing board governance under scrutiny, continue to push boards toward active engagement in relation to their cyber-oversight role, despite it being unclear what a board's level of involvement should be, say attorneys at Alston & Bird.

  • Opinion

    SC's Courts Have It Wrong On Amazon Marketplace Sales Tax

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    The South Carolina Supreme Court should step in and correct the misguided change in tax law effectuated by lower court rulings that found Amazon owes state sales tax for marketplace sales made prior to the U.S. Supreme Court’s Wayfair v. South Dakota decision in 2018, says Hayes Holderness at the University of Richmond.

  • IRS Sings New Tune: Whistleblower Form Update Is Welcome

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    In a significant reform at the Internal Revenue Service's Whistleblower Office, the recently introduced revisions to the Form 211 whistleblower award application use new technology and a more intuitive approach to streamline the process of reporting allegations of tax fraud committed by wealthy individuals and companies, says Benjamin Calitri at Kohn Kohn.

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

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    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

  • This Earth Day, Consider How Your Firm Can Go Greener

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    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • Energy Community Tax Credit Boost Will Benefit Wind Sector

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    Recent Internal Revenue Service guidance broadening tax credit eligibility to more parts of offshore wind facilities in so-called energy communities is a win for the industry, which stands to see more projects qualify for a particularly valuable bonus in the investment tax credit context due to the capital-intensive nature of offshore wind projects, say attorneys at Troutman Pepper.

  • Weisselberg's Perjury At Trial Spotlights Atty Ethics Issues

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    Former Trump Organization executive Allen Weisselberg’s recent guilty plea for perjury in the New York attorney general's civil fraud trial should serve as a reminder to attorneys of their ethical duties when they know a client has lied or plans to lie in court, and the potential penalties for not fulfilling those obligations, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

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