Tax

  • February 21, 2025

    EU Tax Blacklist Needs New Criteria, Tax Pros Say

    The European Union's list of uncooperative tax jurisdictions needs new criteria to tackle the problem of corporate tax avoidance and harmful tax practices, tax campaigners claimed Friday.

  • February 21, 2025

    UK Sticks With Inheritance Tax Changes Amid Higher Revenue

    A U.K. budget surplus, reported Friday, indicates that the Labour government shows no sign of compromising with its inheritance tax changes as tax receipts rise despite the implications for middle-class families and farmers.

  • February 20, 2025

    Unions' Downsizing Suit Belongs Before FLRA, Judge Says

    A D.C. federal judge denied requests Thursday to block the president from carrying out three federal downsizing initiatives, rejecting unions' argument that their challenge is an exception to the rule that federal union disputes belong before the agency charged with adjudicating them.

  • February 20, 2025

    Feds Say DC Judge Can't Bar 'Hypothetical' Spending Freezes

    A Justice Department attorney argued before a D.C. federal judge Thursday that there is no basis to continue blocking the Trump administration from implementing a blanket suspension on federal spending, saying the court cannot bar "hypothetical" future freezes.

  • February 20, 2025

    Bradley Arant Adds Securities, Tax Expert As Partner

    Bradley Arant Boult Cummings LLP added a former Burr & Forman LLP partner to the firm's tax group and corporate and securities group in its Birmingham, Alabama, office.

  • February 20, 2025

    IRS Worker Layoff Could Hamper Enforcement, Groups Warn

    Congressional Democrats, tax and economic policy groups and an IRS workers union warned Thursday that the termination of thousands of Internal Revenue Service employees that began the same day could threaten the agency's ability to enforce tax laws and hamper taxpayer services amid tax-filing season.

  • February 20, 2025

    Guinea Fends Off Push To Enforce $22M Telecom Award

    A D.C. federal court said it lacked jurisdiction to enforce a $22 million arbitration award against the Republic of Guinea stemming from a system enabling the country to tax international telecommunications traffic, saying the nation wasn't a party to the underlying arbitration agreement.

  • February 20, 2025

    NY Expands Local Power To Give Storm Damage Tax Breaks

    New York state expanded municipalities' authority to provide property tax breaks to owners of property damaged by severe storms and other natural disasters by allowing that relief to be granted for small business' property as part of a bill signed by Gov. Kathy Hochul.

  • February 20, 2025

    Bilzin Sumberg Adds Ex-KPMG Tax Pro In Miami

    Miami-based Bilzin Sumberg Baena Price & Axelrod LLP announced Thursday that it has hired an experienced tax attorney who previously worked as a managing director with Big 4 accounting firm KPMG as a partner.

  • February 20, 2025

    Tax Trial Paused For Strip Club Boss Accused Of Hiding $5.7M

    The trial of a strip club operator accused of hiding $5.7 million in income from the IRS and lying to get a pandemic relief grant was pushed back Thursday after he requested more time to allow a forensic accountant to review financial documents.

  • February 20, 2025

    Third Of Pension Professionals Uncertain About Gov't Policy

    Approximately one in three pension professionals is unclear about the government's priorities for the sector, research by a specialist law firm has suggested, with particular uncertainty over proposals to apply tax to wealth passed on through retirement savings plans.

  • February 19, 2025

    Energy Credit Market Still Robust Amid Uncertainty, Attys Say

    Companies continue to buy and sell valuable tax credits earned from large-scale clean energy tax development projects despite President Donald Trump's active efforts to undermine renewable energy and cut the federal workforce administering the incentives, practitioners said Wednesday.

  • February 19, 2025

    Crypto Group Urges Rollback Of IRS Broker Rule

    A coalition of members of the cryptocurrency trade group Blockchain Association urged congressional leaders Wednesday to repeal a final U.S. Treasury Department rule implementing additional reporting requirements for decentralized finance brokers.

  • February 19, 2025

    Pa. Justices Say Sales Tax Isn't Commerce Under State Law

    Collecting sales tax is not part of a commercial transaction even if it occurs at the same time as that transaction, according to a Wednesday ruling from the Pennsylvania Supreme Court in a suit accusing American Eagle and other retailers of charging wrongful taxes on face masks.

  • February 19, 2025

    Maine Biz Income Sourcing Proposal Ambiguous, Groups Say

    Maine Revenue Services' proposed amendment of its corporate income tax sourcing rules to clarify that receipts from services are sourced to where they are acquired or experienced instead of where they are received would increase ambiguity in the tax code, critics said Wednesday.

  • February 19, 2025

    Tax Tech Worker Says He Was Fired For Lawsuit Presentation

    A tax compliance software company wrongfully fired an employee after he gave a presentation to his co-workers about a gender discrimination lawsuit that had been brought against video game publisher Activision Blizzard, violating his federal and state constitutional rights, according to litigation removed to Connecticut federal court.

  • February 19, 2025

    Miller & Chevalier Adds Former IRS Chief Counsel

    Miller & Chevalier Chtd. has found a new co-leader for its tax controversy and litigation practice as it brings aboard the former chief counsel of the Internal Revenue Service during President Donald Trump's first term.

  • February 19, 2025

    FinCEN Sets March Deadline For Corporate Transparency Act

    The U.S. Treasury Department's Financial Crimes Enforcement Network set a new deadline of March 21 for an estimated 32 million small entities to file beneficial ownership reports relating to the Corporate Transparency Act after a Texas federal judge lifted a block on the law's enforcement.

  • February 19, 2025

    McCarter & English Adds Shutts & Bowen Latin America Head

    The former chair of the Shutts & Bowen LLP's Latin America practice group and co-chair of its tax and international law practice group jumped to McCarter & English LLP in Miami, the firm announced Wednesday.

  • February 19, 2025

    Peanut Truck Co. Exempt From Excise Tax, Justices Told

    A Georgia maker of special trucks for peanut farming was denied an excise tax exemption for off-road highway vehicles because the IRS interpreted the law too narrowly, the company argued while urging the U.S. Supreme Court to overturn the Eleventh Circuit on the question.

  • February 19, 2025

    Ill. Dept. OKs Quantum Computing Building Tax Credit Regs

    Illinois individual and corporate taxpayers may claim income tax credits for a portion of wages paid to workers employed in the construction of quantum computing campus facilities, the state Department of Revenue said in adopted regulatory amendments.

  • February 18, 2025

    Dems Push Corporate Transparency Act Legitimacy To Courts

    Congress has the authority to establish a nationwide registry of the beneficial owners of legal entities by passing the Corporate Transparency Act, a group of Democratic legislators said in similar amicus briefs filed in appellate courts.

  • February 18, 2025

    NY Broadens Tax Break Guidelines For Development Projects

    New York state broadened guidelines for determining whether some economic development projects may be eligible for property and sales tax exemptions based on the level of a project's on-site child care services under clarifying legislation signed by Democratic Gov. Kathy Hochul.

  • February 18, 2025

    DC Court Asked To Block DOGE's Access To Taxpayer Data

    A federal judge should block the U.S. Treasury Department's reported provision of taxpayer data to the Department of Government Efficiency, halt DOGE's access and order its software uninstalled from Treasury systems, unions and advocacy organizations said in a complaint.

  • February 18, 2025

    Goldstein's Overseas Ties Make It 'Easier To Flee,' Judge Says

    U.S. Supreme Court advocate and SCOTUSblog publisher Tom Goldstein has lost a second attempt to shield his more than $3 million residence in Washington, D.C., from forfeiture in his criminal tax evasion case as a Maryland federal judge ruled Tuesday that he remains a "significant flight risk."

Expert Analysis

  • Roundup

    After Chevron

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    Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 37 different rulemaking and litigation areas.

  • Opinion

    Atty Well-Being Efforts Ignore Root Causes Of The Problem

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    The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.

  • Series

    Skiing And Surfing Make Me A Better Lawyer

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    The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.

  • Tracking Implementation Of IRA Programs As Election Nears

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    As the Biden administration races to cement key regulations implementing the Inflation Reduction Act, a number of the law's programs and incentives are at risk of delay or repeal if Republicans retake control of Congress, the White House or both — so stakeholders should closely watch ongoing IRA implementation and guidance, say attorneys at Squire Patton.

  • Unpacking The Circuit Split Over A Federal Atty Fee Rule

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    Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.

  • Takeaways From Justices' Redemption Insurance Decision

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    The U.S. Supreme Court’s recent decision in Connelly v. U.S. examines how to determine the fair market value of shares in a closely held company for estate tax purposes, and clarifies how life insurance held by the company to enable redemption of a decedent’s shares affects that calculation, says Evelyn Haralampu at Burns & Levinson.

  • 6 Tips For Maximizing After-Tax Returns In Private M&A Deals

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    With potential tax legislation likely to spur a surge in private business sales, sellers can make the most of after-tax proceeds with strategies that include price allocation and qualified investment options, say Isaac Grossman and Daniel Studin at Morrison Cohen.

  • After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1

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    The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.

  • Factors For London Cos. To Consider If Adding US Listings

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    Recent reports of a continuing valuation gap between London and New York have resulted in some London-listed companies considering U.S. listings to gain an increased investor base, but with various obligations and implications involved in such a move, organizations should consider whether there is a real benefit from trading there, say lawyers at Winston & Strawn.

  • Recruitment Trends In Emerging Law Firm Frontiers

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    BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

  • Series

    Glassblowing Makes Me A Better Lawyer

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    I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.

  • What DOL Fiduciary Rule Means For Private Fund Managers

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    Attorneys at Ropes & Gray discuss how the U.S. Department of Labor's recently released final fiduciary rule, which revises the agency's 1975 regulation, could potentially cause private fund managers' current marketing practices and communications to be considered fiduciary advice, and therefore subject them to strict prohibitions.

  • Money, Money, Money: Limiting White Collar Wealth Evidence

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    As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

  • Navigating New Safe Harbor For Domestic Content Tax Credits

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    The U.S. Department of the Treasury’s recent notice simplifying domestic content calculations for certain solar, onshore wind and battery storage projects, which directly acknowledges the difficulty for taxpayers in gathering data to support a domestic content analysis, should make it easier to qualify additional domestic content bonus tax credits, say attorneys at A&O Shearman.

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