Tax

  • April 22, 2024

    Hedge Funder's IRS Suit Over Leaked Tax Info Gets Trimmed

    A Florida federal judge on Monday dismissed part of a hedge fund executive's case seeking to hold the Internal Revenue Service accountable for a leak of his private tax data to the media, saying he failed to show he suffered any damages.

  • April 22, 2024

    Scotiabank Fights To Keep Peru VAT Claim Alive

    The Bank of Nova Scotia urged the World Bank's international arbitration institution in recently released documents not to dismiss the arbitration of its value-added tax dispute against Peru, saying the case raises issues of fact.

  • April 22, 2024

    Colo. Sales Tax Can't Touch Netflix Subscriptions, Judge Says

    A Colorado judge has sided with Netflix Inc. in a fight with the state over whether its streaming service subscriptions are subject to sales tax, finding that because the subscriptions can't be physically touched, they don't fit the law's definition of "tangible" property.

  • April 22, 2024

    Congress Can Enact Corp. Transparency, Orgs Tell 11th Circ.

    Congress is empowered to require American companies to report their beneficial owners to the federal government because there is ample evidence they've previously been used to fund hostile foreign actors, evade sanctions and traffic drugs, two think tanks told the Eleventh Circuit in an amici brief.

  • April 22, 2024

    As DA Aims High, Trump Defense Gets 'Down And Dirty'

    Donald Trump lifted the curtain Monday on his strategy to win over jurors in his New York criminal hush-money trial, as a lawyer for the former president hammered the state's "liar" star witness and rejected the prosecution's quixotic framing of the case, experts observed.

  • April 22, 2024

    IRS Failed To Act After Supervisor Groped Worker, Court Told

    An IRS employee told an Iowa federal court Monday that her supervisor groped her and made a sexually degrading comment about her during a meeting but that the agency "has done nothing" to protect her, despite an investigation concluding the harassment had likely occurred.

  • April 22, 2024

    Ex-US Atty's Stepson Says He Has None Of Docs Gov't Seeks

    The stepson of a former Nevada U.S. attorney convicted of failing to pay taxes told a Nevada federal court that he doesn't have the financial documents the federal government has demanded in its $1.3 million tax suit against his stepfather.

  • April 22, 2024

    Trump, NY AG Reach Deal To OK $175M Fraud Appeal Bond

    Donald Trump's lawyers agreed Monday to bond conditions requiring the former president to give up control of his $175 million cash deposit pending appeal of a $465 million civil fraud judgment, staving off scrutiny from both the New York attorney general and the judge who entered the award.

  • April 22, 2024

    PE-Backed Cruise Operator Viking Sets Sights On $1B IPO

    Private equity-backed cruise operator Viking Holdings Ltd. on Monday set a price range on an estimated $1 billion initial public offering, represented by Skadden Arps Slate Meagher & Flom LLP and underwriters counsel Latham & Watkins LLP, marking the latest test of the IPO market's nascent recovery.

  • April 22, 2024

    Mass. Justices Say For-Profit Biz Can't Duck Billboard Tax

    A for-profit advertisement company cannot get a tax exemption for its management of billboards owned by the Massachusetts Bay Transit Authority, the state's high court said Monday.

  • April 22, 2024

    UAE Considering R&D Tax Break, Seeks Feedback

    The United Arab Emirates is seeking public input to help design a possible research and development tax incentive proposal to help drive innovation and growth, its Ministry of Finance said.

  • April 22, 2024

    Trump Led Plot To Undermine 2016 Election, NY Jury Told

    A prosecutor told a Manhattan jury on Monday that Donald Trump was the head of a conspiracy to undermine the integrity of the 2016 election through hush-money payments, kicking off the first criminal trial of a former president.

  • April 22, 2024

    Coverage Recap: Day 1 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 to adult film actress Stormy Daniels ahead of the 2016 election. Here's a full recap from day one.

  • April 19, 2024

    Trump On Verge Of Legal History As Full NY Jury Picked

    Jury selection wrapped up Friday in the hush money trial of Donald Trump, setting the stage for opening statements to begin on Monday after a New York appeals court denied a last-ditch bid by the former president to delay the unprecedented case.

  • April 19, 2024

    PE Exec Can Recoup $1M 'Varsity Blues' Forfeiture

    A private equity executive whose conviction in the "Varsity Blues" college admissions case was almost entirely wiped out by the First Circuit is entitled to a refund of $1 million he paid to the scheme's ringleader, a federal judge ruled Friday.

  • April 19, 2024

    UN Should Eye Unitary Taxes, DSTs For Tax Pact, Report Says

    Governments should use the United Nations tax convention as an opportunity to advance the overhaul of nexus away from transfer pricing and toward formulary apportionment, including digital services taxes, to achieve unitary taxation on corporate profits, scholars at the Brookings Institution said Friday in a report.

  • April 19, 2024

    NY Lawmakers Approve Overhauling Cannabis Tax System

    New York is slated to scrap its potency-based tax system for adult-use cannabis and replace it with a more streamlined wholesale tax structure in June under a budget-related bill approved by state lawmakers.

  • April 19, 2024

    IRS Previews New Digital Assets Reporting Form

    The Internal Revenue Service released a draft of a form brokers will have to use for the first time to disclose their digital asset sales to the agency, including instructions for taxpayers whose transactions are subject to the reporting requirements. 

  • April 19, 2024

    NY AG Doubts Trump Insurer Can Cover $175M Bond

    The New York Attorney General's Office told a Manhattan court Friday it has doubts about a California insurer's ability to cover a $175 million bond imposed on Donald Trump after a civil trial in which he was found responsible for conspiring to inflate his wealth for financial gain.

  • April 19, 2024

    Atty Says False Testimony Justifies Chrisleys' Acquittal

    Attorneys for Todd and Julie Chrisley of the reality television show "Chrisley Knows Best," who are in prison after being convicted on federal charges of bank fraud and tax evasion, urged the Eleventh Circuit to undo their convictions on Friday, arguing prosecutors knowingly presented false, prejudicial testimony at trial.

  • April 19, 2024

    Trump's Trial Is Unprecedented. Attys On Juries? Not So Much

    With two BigLaw attorneys tapped for the jury box in Donald Trump's first-in-history criminal case, Law360 spoke to trial vets who said their own experience in this tables-turned situation shows lawyers can make for highly engaged jurors under the right circumstances.

  • April 19, 2024

    Polsinelli Adds Shareholder To Tax Credit Practice In Dallas

    An attorney who spent more than a decade developing a niche practice specializing in tax credit financing has moved her practice to Polsinelli PC's Dallas office after five years at Munsch Hardt Kopf & Harr PC.

  • April 19, 2024

    The Week In Trump: NY Trial And A High Court Date Loom

    Despite a few snags, jury selection for Donald Trump's hush money trial in Manhattan unfolded relatively quickly, clearing the way for opening statements Monday in the historic case as the former president prepped for a U.S. Supreme Court debate over his supposed immunity.

  • April 19, 2024

    Atty In Tax Fraud Case Gets Supervised Release, $25K Fine

    A former Houston lawyer whose conviction in connection with an $18 million tax scheme was overturned told a federal judge Friday that not testifying in his 2019 trial was "one of the worst mistakes" of his life as he was sentenced to a year of supervised release as part of a plea deal.

  • April 19, 2024

    Taxation With Representation: Kirkland, Cleary, O'Melveny

    In this week's Taxation With Representation, Resideo Technologies Inc. announced plans to buy Snap One Holdings Corp., APi Group said it bought an elevator maintenance company, Prysmian said it agreed to purchase Encore Wire, and Sayari said it closed on an investment from TPG.

Expert Analysis

  • To Hire And Keep Top Talent, Think Beyond Compensation

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    Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.

  • Perspectives

    More States Should Join Effort To Close Legal Services Gap

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    Colorado is the most recent state to allow other types of legal providers, not just attorneys, to offer specific services in certain circumstances — and more states should rethink the century-old assumptions that shape our current regulatory rules, say Natalie Anne Knowlton and Janet Drobinske at the University of Denver.

  • Identifying Trends And Tips In Litigation Financing Disclosure

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    Growing interest and controversy in litigation financing raise several salient concerns, but exploring recent compelled disclosure trends from courts around the country can help practitioners further their clients' interests, say Sean Callagy and Samuel Sokolsky at Arnold & Porter.

  • Opinion

    OFAC Designation Prosecutions Are Constitutionally Suspect

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    Criminal prosecutions based on the Office of Foreign Assets Control’s sanctions-related listing decisions — made with nearly unfettered discretion through an opaque process — present several constitutional issues, so it is imperative that courts recognize additional rights of review, say Solomon Shinerock and Annika Conrad at Lewis Baach.

  • The NIL Legislation Race: CAPCA And The PASS Act

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    Christina Stylianou and Gregg Clifton at Lewis Brisbois compare the College Athletes Protection and Compensation Act and the Protecting Athletes, Schools, and Sports Act — two of the latest bills introduced to federally regulate publicity rights for the name, image and likeness of college student-athletes.

  • What's Notable In Connecticut's New Cannabis Laws

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    The Connecticut Legislature recently passed four bills containing cannabis provisions — ranging from applicable tax credits to labor agreement requirements — that may prove to be a mixed bag for state operators, say Sarah Westby and Deanna McWeeney at Shipman & Goodwin.

  • Series

    The Pop Culture Docket: Judge Elrod On 'Jury Duty'

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    Though the mockumentary series “Jury Duty” features purposely outrageous characters, it offers a solemn lesson about the simple but brilliant design of the right to trial by jury, with an unwitting protagonist who even John Adams may have welcomed as an impartial foreperson, says Fifth Circuit Judge Jennifer Elrod.

  • NJ Justices Clarify Bribery Law Scope, But Questions Remain

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    The New Jersey Supreme Court’s recent State v. O'Donnell decision clarified that the state’s bribery law unambiguously applies to candidates for public office, but there are still unresolved questions about how the ruling may affect lobbyists, undeclared candidates and political speech, says Scott Coffina at Pietragallo Gordon.

  • 4 Business-Building Strategies For Introvert Attorneys

    Excerpt from Practical Guidance
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    Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.

  • Opinion

    3 Ways Justices' Disclosure Defenses Miss The Ethical Point

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    The rule-bound interpretation of financial disclosures preferred by U.S. Supreme Court Justices Samuel Alito and Clarence Thomas — demonstrated in their respective statements defending their failure to disclose gifts from billionaires — show that they do not understand the ethical aspects of the public's concern, says Jim Moliterno at the Washington and Lee University School of Law.

  • Parsing Tax Implications Of NYC Office Leasing Transactions

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    Though New York City's tax laws generally do not require negotiated contractual risk allocation in the case of sublease and early lease termination transactions, it is still helpful for counsel to both landlords and tenants to understand the laws' nuances, say attorneys at Lowenstein Sandler.

  • IRS Foreign Tax Credit Pause Is Welcome Course Correction

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    A recent IRS notice temporarily suspending application of 2022 foreign tax credit regulations provides wanted relief for the many U.S. multinational companies and other taxpayers that otherwise face the risk of significant double taxation in their international operations, say attorneys at Mayer Brown.

  • Caregiver Flexibility Is Crucial For Atty Engagement, Retention

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    As the battle for top talent continues post-pandemic, many firms are attempting to attract employees with progressive hybrid working environments — and supporting caregivers before, during and after an extended leave is a critically important way to retain top talent, says Manar Morales at The Diversity & Flexibility Alliance.

  • Opinion

    3 Principles Should Guide MTC's Digital Products Tax Work

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    As the Multistate Tax Commission's project to harmonize sales tax on digital products moves forward, three key principles will help the commission's work group arrive at unambiguous definitions and help states avoid unintended costs, say Charles Kearns and Jeffrey Friedman at Eversheds Sutherland.

  • OECD Treatment Of Purchased Ga. Film Credits Isn't Peachy

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    Producers considering Georgia as a prospective location for filming may already be concerned that the Organization for Economic Cooperation and Development's July decision will hamper the eventual 2026 or later sale of their Georgia film tax credits, says Alan Lederman at Gunster.

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