Tax

  • June 16, 2025

    Fla. Investor Exploited Puerto Rico Law To Avoid $7M Tax Bill

    A Miami-Dade County investor has pled guilty to filing a false tax return with the Interanl Revenue Service in an attempt to shield $30 million in trading proceeds from capital gains taxes by moving to Puerto Rico and retroactively changing the status of his company to an S corporation.

  • June 16, 2025

    Book Profits Much Higher Than Taxable Income, Paper Says

    Companies report about three to four times higher profits on financial statements for investors compared with the taxable income they report to authorities, a phenomenon most prevalent among multinational corporations, which suggests book profits underestimate profit shifting, the EU Tax Observatory said Monday.

  • June 16, 2025

    Finance Influencer Admits To Tax Fraud In $20M Ponzi Scheme

    An Ohio social media finance influencer pled guilty to wire fraud and abetting a false tax filing tied to a $20 million real estate Ponzi scheme he was operating between 2019 and 2023, the U.S. Department of Justice said.

  • June 16, 2025

    Trump Eyes Trade Deal With Canada During G7 Summit Talks

    President Donald Trump said at the G7 summit Monday that he would work with Canadian Prime Minister Mark Carney to reach a trade deal, raising the possibility that an agreement could be struck before the multilateral meeting concludes.

  • June 16, 2025

    Wealth Taxes, End Of Profit Shifting Worth $2.6T, Group Says

    World governments could raise about $2.6 trillion annually, more than enough revenue to finance most climate-related needs, if they collectively adopted low-rate wealth taxes beginning with the richest 0.5% and stopped multinational corporations from shifting profits, the Tax Justice Network said Monday.

  • June 16, 2025

    Microcaptive Seller Agrees To Pay IRS Promoter Penalties

    A California-based insurance provider agreed to pay the Internal Revenue Service penalties for setting up microcaptive policies between 2005 and 2012 that the U.S. Tax Court had ruled in 2019 were insurance arrangements that did not deserve a favorable tax treatment, the IRS announced Monday. 

  • June 16, 2025

    ESOP Urges Court To Keep IRS Rule Challenge Alive

    An employee stock ownership plan and its related parties urged a Wisconsin federal court Monday not to toss their case against the IRS alleging the agency targeted them with additional tax reporting rules, saying the lawsuit does not illegally stop the agency from collecting taxes.

  • June 16, 2025

    Ind. Net Revenue Through May Falls $28M Short Of Forecast

    Indiana's net revenue collection from July through May missed a target by $28 million, a state agency reported.

  • June 16, 2025

    Massachusetts Home Overvalued By $25K, Board Says

    A local assessment of a Massachusetts home lacked persuasive value, a state tax board said, reducing the property's valuation by $25,000.

  • June 13, 2025

    State Dept. Layoffs Still Violate Injunction, Judge Says

    A California federal judge said Friday that planned staff reductions at the State Department would violate her injunction blocking President Donald Trump's executive order directing layoffs at federal agencies, saying she's not persuaded by the government's assertion that the department's reorganization was underway before the order.

  • June 13, 2025

    US-China Trade Talks Resume, Draw Mixed Reviews

    Despite the promise of new trade talks held this week by the U.S. and China, the long-term strategic view of many companies remains concern over the obstacles they continue to face, especially if they must diversify supply chains that heavily rely on China.

  • June 13, 2025

    Ex-Attorney Cops To Tax Evasion In Massachusetts

    A former attorney pled guilty to tax evasion in a Massachusetts federal court Friday after prosecutors accused him of transferring money to his wife to hide his earnings and using his business accounts to pay for guns and jewelry.

  • June 13, 2025

    Ex-Ill. Speaker Madigan Gets 7½ Years For Bribery

    An Illinois federal judge on Friday sentenced former Illinois House Speaker Michael Madigan to seven and a half years in prison and fined him $2.5 million for his conviction on bribery, conspiracy and wire fraud charges, saying his determination that Madigan perjured himself on the stand at trial impacted the stiff penalty.

  • June 13, 2025

    IRS, Law Firm Settle $790K Worker Credit Refund Suit

    The Internal Revenue Service settled a lawsuit seeking more than $790,000 in pandemic-era worker tax credits by a law firm that had claimed the agency was delaying paying out, according to a dismissal order Friday by a Pennsylvania federal court.

  • June 13, 2025

    Taxation With Representation: Debevoise, Latham, Paul Weiss

    In this week's Taxation With Representation, Brown & Brown Inc. buys Accession Risk Management Group Inc., Allison Transmission Holdings Inc. acquires Dana Inc.'s off-highway unit, Qualcomm Inc. buys Alphawave IP, and Warner Bros. Discovery announced it will split into two publicly traded companies.

  • June 12, 2025

    Dallas Developer Cleared Of Bribery Charges In Retrial

    A Dallas jury cleared a real estate executive charged with attempting to bribe city council members in exchange for federal low income housing credits, finding the executive not guilty Thursday after the Fifth Circuit threw out his guilty verdict and ordered a retrial.

  • June 12, 2025

    Md. Court OKs Second Tax Notice, Drops Home Value

    A second residential property assessment notice by the city of Baltimore boosting a valuation by more than $300,000 over its initial assessment is valid, but the assessment was too high, the Maryland Tax Court said in an order released Thursday.

  • June 12, 2025

    NH High Court Upholds Towns Keeping Excess Tax Revenue

    The right of New Hampshire communities to retain excess statewide education property taxes for other purposes doesn't violate the state constitution's uniformity clause, the state Supreme Court ruled, partially reversing a trial court.

  • June 12, 2025

    Legal Noncitizens OK For Domicile Tax Break, SC Judge Says

    A legally present couple from India showed intent to remain domiciled in their South Carolina home and therefore qualify for the property tax treatment granted for owner-occupied residences, an administrative judge ruled.

  • June 12, 2025

    China Agrees To Loosen Rare Earth Restrictions, US Says

    Chinese trade negotiators have agreed to lift export controls on rare-earth elements in exchange for the U.S. walking back a campaign to revoke visas for Chinese students, according to statements by U.S. officials, which experts said leave key issues unresolved.

  • June 12, 2025

    Deloitte Consulting Hit With TM Suit Over AI Platform

    A blockchain-focused web platform that offers artificial intelligence tools has launched a lawsuit in New York federal court accusing Deloitte Consulting of infringing its trademark rights with its generative AI services product.

  • June 12, 2025

    Avenatti Sheds 3 Years After 9th Circ. Orders Resentencing

    A California federal judge on Thursday resentenced disbarred attorney Michael Avenatti to just over 11 years in federal prison for filching millions of dollars from his clients' settlement funds, reducing a 14-year sentence overturned by the Ninth Circuit and leaving Avenatti with about eight years left after time served.

  • June 12, 2025

    Wis. Children's Hospital Denied Exemption For Hospital Tower

    The Children's Hospital of Wisconsin isn't eligible for a property tax exemption for a tower built in its medical complex, as it was unused during the tax year, the Wisconsin Court of Appeals ruled.

  • June 12, 2025

    Maine Gives 2 Years To Fight Tax Debt Biz Property Takings

    Maine won't allow challenges to governmental takings of commercial real estate for nonpayment of property taxes after a statutory two-year period ends, under a bill signed by the governor.

  • June 12, 2025

    Justices Reverse IRS Loss In Tax Collection Suit

    The U.S. Supreme Court ruled Thursday that the U.S. Tax Court did not have jurisdiction to review a New Jersey woman's collection dispute with the Internal Revenue Service after the agency stopped going after her unpaid taxes, reversing an earlier IRS loss.

Expert Analysis

  • IRS And ICE Info Sharing Could Drive Payroll Tax Enforcement

    Author Photo

    Tax crimes are historically difficult to prosecute, but the Internal Revenue Services’ recent agreement with U.S. Immigration and Customs Enforcement to share taxpayer records of non-U.S. citizens could be used to enhance payroll tax-related enforcement against their employers, say attorneys at Holland & Knight.

  • Series

    Teaching College Students Makes Me A Better Lawyer

    Author Photo

    Serving as an adjunct college professor has taught me the importance of building rapport, communicating effectively, and persuading individuals to critically analyze the difference between what they think and what they know — principles that have helped to improve my practice of law, says Sheria Clarke at Nelson Mullins.

  • Series

    Adapting To Private Practice: From DOJ Enviro To Mid-Law

    Author Photo

    Practitioners leaving a longtime government role for private practice — as when I departed the U.S. Department of Justice’s environmental enforcement division — should prioritize finding a firm that shares their principles, values their experience and will invest in their transition, says John Cruden at Beveridge & Diamond.

  • NY Tax Talk: Sourcing, Retroactivity, Information Services

    Author Photo

    Attorneys at Eversheds Sutherland examine recent decisions by New York’s Tax Appeals Tribunal, Division of Taxation and Court of Appeals on location sourcing of broker-dealer receipts, a case of first impression on the retroactive application of Corporate Franchise Tax regulations and when fees for information services are excluded from taxation.

  • Legal Ethics Considerations For Law Firm Pro Bono Deals

    Author Photo

    If a law firm enters into a pro bono deal with the Trump administration in exchange for avoiding or removing an executive order, it has an ethical obligation to create a written settlement agreement with specific terms, which would mitigate some potential conflict of interest problems, says Andrew Altschul at Buchanan Angeli.

  • Series

    Playing Football Made Me A Better Lawyer

    Author Photo

    While my football career ended over 15 years ago, the lessons the sport taught me about grit, accountability and resilience have stayed with me and will continue to help me succeed as an attorney, says Bert McBride at Trenam.

  • 10 Arbitrations And A 5th Circ. Ruling Flag Arb. Clause Risks

    Author Photo

    The ongoing arbitral saga of Sullivan v. Feldman, which has engendered proceedings before 10 different arbitrators in Texas and Louisiana along with last month's Fifth Circuit opinion, showcases both the risks and limitations of arbitration clauses in retainer agreements for resolving attorney-client disputes, says Christopher Blazejewski at Sherin and Lodgen.

  • Series

    Power To The Paralegals: The Value Of Unified State Licensing

    Author Photo

    Texas' proposal to become the latest state to license paraprofessional providers of limited legal services could help firms expand their reach and improve access to justice, but consumers, attorneys and allied legal professionals would benefit even more if similar programs across the country become more uniform, says Michael Houlberg at the University of Denver.

  • 10 Soft Skills Every GC Should Master

    Author Photo

    As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.

  • An Unrestrained, Bright-Eyed View Of Legal AI's Future

    Author Photo

    Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.

  • Tracking The Evolution In Litigation Finance

    Author Photo

    Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.

  • Series

    Volunteer Firefighting Makes Me A Better Lawyer

    Author Photo

    While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.

  • Tax Takeaways From Georgia's 2025 Legislative Session

    Author Photo

    Attorneys at Eversheds Sutherland discuss tax-related measures passed by the Georgia Legislature during the session that adjourned on April 4, which included a decrease in income tax rates, an extension of the time in which to a protest tax assessment and cleanup provisions related to launching the state’s new tax court next year.

  • E-Discovery Quarterly: The Perils Of Digital Data Protocols

    Author Photo

    Though stipulated protocols governing the treatment of electronically stored information in litigation are meant to streamline discovery, recent disputes demonstrate that certain missteps in the process can lead to significant inefficiencies, say attorneys at Sidley.

  • Maximizing Exemptions Before TCJA Rides Into The Sunset

    Excerpt from Practical Guidance
    Author Photo

    Individuals with taxable estates can optimize the benefits of estate planning strategies like spousal lifetime access trusts by setting them up before increases in estate and gift tax exemptions under the 2017 Tax Cuts and Jobs Act sunset in January, say attorneys at Katten.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Tax archive.