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Tax
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April 15, 2025
EU Still Open To Zero-Tariff US Deal, Trade Chief Says
The European Union remains open to a trade deal with the United States to reach zero tariffs on all goods between the country and the trade bloc, the EU trade commissioner said.
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April 14, 2025
US Cuts Tariffs On Chinese Electronics But Vows New Levies
The U.S. scaled back tariffs on Chinese semiconductors and related products like computers and smartphones, but Commerce Secretary Howard Lutnick said those goods and pharmaceuticals would face sector-specific tariffs in one to two months.
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April 14, 2025
DOJ Resists Airing Full ICE Pact On Taxpayer Data Sharing
The U.S. government objected Monday to releasing an unredacted copy of a tax-information-sharing agreement between the IRS and immigration enforcement agencies sought by groups seeking to block the disclosure, telling a D.C. federal court that it would reveal sensitive information and law enforcement techniques.
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April 14, 2025
EU Not 'Sitting Back' With US Tariffs, German Official Says
"Simply sitting back" isn't an option for the European Union in response to wide-ranging tariffs imposed by President Donald Trump's administration, Germany's finance minister said Monday in defense of the bloc's countermeasures.
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April 11, 2025
Investor Properly Obtained Tax Liens, Conn. Justices Rule
An investor specializing in tax liens properly obtained assignments from a Connecticut city before seeking to force a social club's property into a foreclosure sale, the state's Supreme Court ruled on Thursday, criticizing how the case unfolded and clarifying a lower ruling that muddied the burden of proof.
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April 11, 2025
Ala. Justices Nix Owner Property Tax Break For LLC
An Alabama condominium was correctly reclassified for property tax purposes because the couple who own the property had transferred ownership to a limited liability company, the state Supreme Court ruled Friday.
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April 11, 2025
China Hikes US Tariffs To 125%, Saying No More Tit-For-Tat
China's government said Friday it has raised its tariffs on U.S. goods to 125% and won't match future tariff rate increases by President Donald Trump, who according to the White House has set the rate for most Chinese goods at 145%.
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April 11, 2025
Feds Seek Release Of Informant Who Falsely Accused Bidens
California federal prosecutors are seeking the release of a former FBI informant who is serving a six-year prison sentence for falsely telling agents that former President Joe Biden and his son Hunter Biden had accepted bribes from a Ukrainian energy company.
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April 11, 2025
Family Should Face Charges In $81M Tax Scheme, US Says
The U.S. government urged a New York federal court not to trim its complaint against the former shareholders of a family holding company accused of participating in an $81 million tax scheme, saying the family illegally avoided paying capital gains on its sale of the company.
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April 11, 2025
NFT Owner Admits To Dodging Tax On Crypto Art Sales
A Pennsylvania man pled guilty to filing false tax returns and underreporting his income by $13.1 million after selling 97 nonfungible token artworks, federal prosecutors said Friday.
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April 11, 2025
Trump Tariffs Will Hurt US Worse Than EU, Bloc Official Says
The wide-ranging tariffs imposed by President Donald Trump's administration, including those that were recently paused for 90 days, will harm the U.S. worse than the European Union, the bloc's economic commissioner said Friday.
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April 11, 2025
3 Convicted Of Driving €24M Car Sales VAT Fraud Ring
A German court convicted and sentenced three ringleaders of a value-added tax fraud scheme that used a series of shell companies and fake invoices to dodge €24 million ($27 million) in owed value-added taxes, the European Public Prosecutor's Office said Friday.
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April 11, 2025
Nursing Home Owner Gets 3 Years For $39M Tax Fraud
A New Jersey federal judge sentenced a nursing home operator to three years in prison for a $39 million employment tax fraud scheme involving care centers he owned across the country, a term three times as long as what prosecutors had requested.
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April 11, 2025
Mich. Top Court Won't Hear Appeal Of $217M Dam Repair Tax
The Michigan Supreme Court on Friday said it wouldn't hear an appeal from a host of homeowners challenging a $217 million special assessment to fund the repair of dams and restoration of lakes after 2020 floods that devastated mid-Michigan counties.
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April 11, 2025
Taxation With Representation: Norton Rose, Ropes & Gray
In this week's Taxation With Representation, Capri Holdings sells Versace to Prada, Woodside Energy sells a liquefied natural gas terminal stake to Stonepeak, crypto infrastructure firm Ripple acquires prime brokerage platform Hidden Road, and Bain Capital takes a stake in Lincoln Financial.
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April 10, 2025
Immigration Groups Seek Unredacted Tax Data-Sharing Pact
Immigration advocates trying to block the Internal Revenue Service from disclosing taxpayers' information to the U.S. Department of Homeland Security and other agencies urged a D.C. federal court on Thursday to require the Justice Department to hand over an unredacted version of a government agreement to share the confidential data.
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April 10, 2025
Calif. Rep's Bill Would Shield Farmers From Retaliatory Tariffs
A California congressman on Thursday introduced a bill in the U.S. House aiming to curb the authority of President Donald Trump to impose new or additional duties on agricultural products from countries that are major agricultural trade partners with the United States.
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April 10, 2025
Exec Facing Tax Evasion Charges To Remain In Custody
An aerospace company founder facing tax evasion and other fraud charges will remain in pretrial detention because he's considered a major flight risk, a D.C. federal court ruled.
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April 10, 2025
Senate Bill Would End Declared Emergency Behind Tariffs
A bill introduced Thursday in the Senate would end the national emergency declared by President Donald Trump to underpin the global tariff regime he unveiled last week, with Sens. Rand Paul, R-Ky., Ron Wyden, D-Ore., and Chuck Schumer, D-N.Y., among the sponsors.
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April 10, 2025
Trump's Int'l Trade Pick Says Tech Deals Sought In Tariff Talks
President Donald Trump could look to prioritize and coordinate tech investments with countries approaching the U.S. to strike a deal to avoid higher tariff rates currently suspended, Trump's pick to lead international trade at the U.S. Department of Commerce said Thursday.
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April 10, 2025
IRS-ICE Deal Could Cost $25B In Tax Revenue, Report Says
The Internal Revenue Service's agreement to share the taxpayer records of certain non-U.S. citizens with immigration enforcement authorities could lead to a $25 billion loss in tax revenue in 2026, according to research from Yale University.
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April 10, 2025
Pa. Justices Try To Referee Pittsburgh's 'Jock Tax'
Pennsylvania's Supreme Court justices looked to punt Thursday on whether the city of Pittsburgh's "jock tax" was uniform enough to pass constitutional muster, taking the unusual step of ordering extra briefing on how the city might offer tax credits for the 3% levy it put on nonresident entertainers' income earned at publicly funded venues.
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April 10, 2025
Dechert Tax Pro Jumps To Whiteford In NY
Whiteford Taylor & Preston LLC has added an experienced transactional tax attorney from Dechert LLP as a partner to its practice in New York, the firm announced.
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April 10, 2025
IRS Microcaptive Rules Face Challenge By Familiar Foe
A microcaptive insurance advisory firm that persuaded a Tennessee federal court to vacate an IRS notice imposing reporting requirements challenged the agency's new rules on the in-house arrangements, asking the same court to set aside the regulations for being just as onerous as the previous ones.
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April 10, 2025
EU Delays Tariffs After Trump's 90-Day Hold
The European Union will delay tariffs on U.S. goods following President Donald Trump's decision to hold off on imposing them on European goods for 90 days, the president of the European Commission said Thursday.
Expert Analysis
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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Reading The Tea Leaves On Mexico, Canada And China Tariffs
It's still unclear whether the delay in the imposition of U.S. tariffs on Canadian and Mexican imports will result in negotiated resolutions or a full-on trade war, but the outcome may hinge on continuing negotiations and the Trump administration's possible plans for tariff revenues, say attorneys at Eversheds Sutherland.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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Justices' Certiorari Denial Leaves Interstate Tax Questions
Since the U.S. Supreme Court recently declined to review a Philadelphia resident’s claim that her Delaware state income taxes should be credited against her city wage tax liabilities, constitutional questions about state and local tax distinctions linger, and some states may continue to apply Supreme Court precedent differently, say attorneys at Dentons.
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10 Issues To Watch In Aerospace And Defense Contracting
This year, in addition to evergreen developments driven by national security priorities, disruptive new technologies and competition with rival powers, federal contractors will see significant disruptions driven by the new administration’s efforts to reduce government spending, regulation and the size of the federal workforce, say attorneys at Thompson Hine.
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Defense Strategies For Politically Charged Prosecutions
Politically charged prosecutions have captured the headlines in recent years, providing lessons for defense counsel on how to navigate the distinct challenges, and seize the unique opportunities, such cases present, says Kenneth Notter at MoloLamken.
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Series
Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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The Pros And Cons Of A 2nd Trump Term For UK Tech Sector
While U.S. President Donald Trump’s protectionist stance on trade could disrupt global supply chains on which many U.K. tech firms are reliant, anticipated deregulation could provide fertile ground for investment and growth, and the U.K. tech sector is bracing for a mix of opportunities, say lawyers at Shoosmiths.
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Corp. Transparency Act's Future Under Treasury's Bessent
The Corporate Transparency Act’s ultimate fate faced uncertain terms at the end of 2024, but new U.S. Department of the Treasury Secretary Scott Bessent's statements and actions so far demonstrate that he does not intend to ignore the law, though he may attempt to make modifications, say attorneys at Taylor English.
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A Look At A Possible Corporate Transparency Act Exemption
Attorneys at Kirkland offer a deep dive into the application of the Corporate Transparency Act's reporting requirements specifically to U.S.-domiciled co-issuers in typical collateralized loan obligation transactions, and consider whether such issuers may be able to assert an exemption from the CTA's reporting requirements.
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Opinion
Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.
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In-House Counsel Pointers For Preserving Atty-Client Privilege
Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.
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Emerging Energy Trends Reflect Shifting Political Landscape
As the Trump administration settles in, some emerging energy industry trends, like expanded support for fossil fuel production, are right off of its wish list — while others, like the popularity of Inflation Reduction Act energy tax credits, and bipartisan support for carbon capture, reflect more complex political realities, say attorneys at Greenberg Traurig.
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Tax-Free Ways To Help Employees After The LA Wildfires
Following the recent wildfires in Los Angeles, there are various tax-free ways to give employees the resources and flexibility they need, including simpler methods like disaster relief payments under Internal Revenue Code Section 139 and leave-sharing programs, and others that require more planning, says Ligeia Donis at Baker McKenzie.
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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.