Tax

August 22, 2025
NC Justices Affirm Dismissal Of Philip Morris Tax Challenge

A North Carolina administrative court does not have the power to find a state tax law unconstitutional as applied, the state's highest court ruled Friday, upholding a loss for Philip Morris in a $300,000 franchise tax case.
August 22, 2025
Canada To Toss Tariffs On US Goods Under USMCA

The Canadian government will remove retaliatory tariffs on U.S. goods that comply with the United States-Mexico-Canada Agreement, excluding steel, aluminum and automobiles, in a move aimed at jump-starting trade talks akin to an exemption made by the U.S. government, Canada's prime minister said Friday.
August 22, 2025
Tribe Member Can't Discharge Tax Debt, 10th Circ. Affirms

An Oklahoma federal court correctly affirmed a bankruptcy court's refusal to reopen a case brought by a member of the Muscogee Creek Nation who claimed his tax debt should have been discharged in bankruptcy, the Tenth Circuit said.
August 22, 2025
Taxation With Representation: Kirkland, Weil, Fried Frank

In this week's Taxation With Representation, private equity firm Thoma Bravo buys human resources software provider Dayforce Inc. in a take-private deal, Lowe's buys Foundation Building Materials, Nexstar Media Group Inc. acquires fellow media company Tegna Inc., and Soho House & Co. Inc. inks a take-private deal with hotel operator MCR.
August 22, 2025
Michigan Judge Gives Initial OK To Tax Foreclosure Deal

A Michigan federal judge has granted preliminary approval to a settlement that would allow former property owners to receive the surplus profits they allege county treasurers made selling their tax-delinquent properties.
August 22, 2025
PE Industry Primed To Capitalize On Trump 401(k) Order

The Trump administration recently said it would reduce regulatory obstacles to retirement plans investing in alternative assets such as private equity, and while attorneys cautioned it could carry risks, they generally applauded the move towards "democratizing capital."
August 22, 2025
IRS Guidance Sparks Mixed Reaction For Solar, Wind Projects

The IRS recently narrowed the way large solar and wind energy development projects can set their construction start dates to qualify for certain tax credits, a change offering relief for some developers but new hurdles for others depending on the stage, type and size of the project.
August 21, 2025
Property Owners Say SF Vacancy Tax Violates Rights

A San Francisco levy on vacant residential units is not a tax, but a penalty, and violates property owners' constitutional rights to keep their private property from being taken for public use without just compensation, the owners told a California appellate court.
August 21, 2025
Tax Court Says Civil Fraud Penalty Cases Don't Require Juries

The U.S. Tax Court rejected Thursday a Mississippi partnership's bid, based on the Supreme Court's landmark 2024 decision requiring a jury to adjudicate common law fraud penalties, to dismiss civil fraud penalties the IRS imposed on a conservation easement transaction.
August 21, 2025
NC Judge Warns Sabotage Trial Might Be A 'Slugfest'

A North Carolina Business Court judge hinted Thursday that he might let a jury decide whether an ordinary person could deduce the identities of a couple who claim they were defamed online by their former friends, but he also urged the feuding families to consider what it might ultimately cost to take their case to trial.
August 21, 2025
Minnesota Tax Court Cuts Abbott Labs Property Value By $7M

A property owned by Abbott Laboratories Inc. was overvalued, and its 2022 assessment should be reduced by about $7 million, the Minnesota Tax Court found.
August 21, 2025
EU, US Agree To Eliminate Industrial Tariffs

The European Union and the U.S. have agreed on new terms to the trade agreement to eliminate EU tariffs on U.S. industrial products and implement a 15% U.S. tariff cap for most other sectors, according to a joint statement issued Thursday.
August 21, 2025
Treasury Gets New Acting International Tax Counsel

A deputy international tax counsel for the U.S. Department of the Treasury has been elevated to serve as acting counsel, he said in a post on LinkedIn.
August 21, 2025
Gov't Shrugs Off Sentencing Errors, IRS Leaker Tells DC Circ.

The IRS contractor appealing his five-year prison sentence for leaking thousands of wealthy people's tax returns to the media accused the U.S. of glossing over sentencing errors that unfairly burdened him with "the harshest sentence possible," he told the D.C. Circuit.
August 21, 2025
NY Appeals Court Throws Out Trump's $500M Fraud Penalty

A divided New York state appeals court panel on Thursday tossed a nearly $500 million civil fraud penalty against President Donald Trump and his sons, companies and their executives, ruling that the fine was "excessive," but kept in place a judge's finding of liability.
August 20, 2025
Fla. Man Who Evaded $7M In Federal Taxes Gets Probation

A Florida investor who admitted to cheating the Internal Revenue Service out of $7 million in taxes was sentenced Wednesday to probation after telling a federal judge he suffers from serious health issues, including Stage 4 kidney cancer and early-onset dementia.
August 20, 2025
Morris Manning Faces $5M Ga. RICO Suit Over Tax Strategy

Morris Manning & Martin LLP is facing allegations of racketeering and tax fraud in a suit brought in Georgia state court by three investors that names a number of professional services firms.
August 20, 2025
Nutter Welcomes Tax Atty In NY From Fox Horan

Less than a month after announcing it had grown its ranks by 8% with the addition of 13 attorneys in three states, Nutter McClennen & Fish LLP said earlier this week that it has hired a New York-based tax attorney from Fox Horan & Camerini LLP.
August 20, 2025
IRS Lost Lien In Bankruptcy, Man Says In $28M Tax Battle

The Internal Revenue Service jettisoned any federal tax lien it claims to have against a man by filing an unsecured claim in his bankruptcy case, he told a Florida federal court Wednesday in response to the government's $28 million lawsuit against him.
August 19, 2025
IRS Told To Explain Granting $142M Contract Without Bids

The IRS must explain why it thinks an executive order mandating electronic tax payments required it to skip the competitive bidding process in awarding a $142 million contract for scanning and digitizing incoming tax filings, the Court of Federal Claims said.
August 19, 2025
Reasoning For IRS Firings Clashes With Reality, TIGTA Says

Probationary workers at the Internal Revenue Service who were told earlier this year that they were fired for performance had been rated highly or had not been there long enough to be evaluated, according to a report Tuesday by the Treasury Inspector General for Tax Administration.
August 19, 2025
Fed. Circ. Won't Revisit Steel Duties On German Companies

The Federal Circuit denied Tuesday a request for it to reconsider a precedential opinion upholding steel duties on German companies imposed after the U.S. Department of Commerce applied adverse facts available in an antidumping investigation.
August 19, 2025
Home Depot To Raise Some Prices Due To Tariffs

Home Depot expects to raise prices for some of its products as tariffs weigh its costs, while Congress' latest tax package will boost its cash flow, executives said Tuesday.
August 18, 2025
IRS Sharing Tax Info With ICE Amid Legal Challenge

The Internal Revenue Service has begun sharing taxpayer return information with U.S. Immigration and Customs Enforcement, the government told a D.C. federal court, revising the tax agency's previous stance that it had not received or responded to any such requests.
August 18, 2025
Tax Court Finds Bankrupt Couple Owes Back Taxes

An Internal Revenue Service settlement officer didn't abuse her discretion by sustaining a tax levy against a Texas couple's abandoned assets, because the couple failed to file the correct paperwork, the U.S. Tax Court ruled Monday.

Editor's Picks

Blockchain Tech May Present New Transfer Pricing Challenges

Companies that develop blockchain systems to digitally record transactions may face difficulties when valuing intangibles tied to the decentralized and highly varied technology, creating novel transfer pricing issues for multinational corporations that create their own blockchain networks.
Trump-Era Tariff Angst Hasn't Gone Away Under Biden

The early days of the Biden administration have been relatively quiet on the trade front, but importers have nevertheless found themselves in the throes of a familiar battle: pleading with the government to hold off on tariffs in a heated trade dispute.
3 Major Implications For States In Biden's Tax Plans

President Joe Biden's sweeping tax changes proposed to pay for trillions in infrastructure spending would significantly alter the way the federal government taxes corporations, leaving states, for the second time in four years, to decide if and how to conform. Here Law360 presents three considerations for states in the president's tax proposals.

Expert Analysis

Lessons From 7th Circ.'s Deleted Chat Sanctions Ruling

The Seventh Circuit’s recent decision in Pable v. Chicago Transit Authority, affirming the dismissal of an ex-employee’s retaliation claims, highlights the importance of properly handling the preservation of ephemeral messages and clarifies key sanctions issues, says Philip Favro at Favro Law.
NY Tax Talk: ALJ Vacancy, Online Sales, Budget

Among the most notable developments in New York tax law last quarter, an administrative law judge vacancy continued affecting taxpayers, a state court decision tested the scope of the Interstate Income Act, and Gov. Kathy Hochul signed the 2025-2026 fiscal budget containing key tax-related provisions, say attorneys at Eversheds Sutherland.
Series

Quilting Makes Me A Better Lawyer

Turning intricate patterns of fabric and thread into quilts has taught me that craftsmanship, creative problem-solving and dedication to incremental progress are essential to creating something lasting that will help another person — just like in law, says Veronica McMillan at Kramon & Graham.
What 2 Profs Noticed As Transactional Law Students Used AI

After a semester using generative artificial intelligence tools with students in an entrepreneurship law clinic, we came away with numerous observations about the opportunities and challenges such tools present to new transactional lawyers, say professors at Cornell Law School.
Rebuttal

BigLaw Settlements Should Not Spur Ethics Deregulation

A recent Law360 op-ed argued that loosening law firm funding restrictions would make BigLaw firms less inclined to settle with the Trump administration, but deregulating legal financing ethics may well prove to be not merely ineffective, but counterproductive, says Laurel Kilgour at the American Economic Liberties Project.
5 Ways Lawyers Can Earn Back The Public's Trust

Amid salacious headlines about lawyers behaving badly and recent polls showing the public’s increasingly unfavorable view of attorneys, we must make meaningful changes to our culture to rebuild trust in the legal system, says Carl Taylor at Carl Taylor Law.
Legal Jeopardy Looms Over Trump's Trade Negotiation Plans

Even as the Trump administration announces one trade deal after another, the legal authority of the executive branch to impose tariffs under consensual arrangements with leading trading partners is just as debatable as the unilateral imposition of U.S. tariffs under the president's executive orders, says Jeffrey Bialos at Eversheds Sutherland.
Series

Hiking Makes Me A Better Lawyer

On the trail, I have thought often about the parallels between hiking and high-stakes patent litigation, and why strategizing, preparation, perseverance and joy are important skills for success in both endeavors, says Barbara Fiacco at Foley Hoag.
Opportunity Zone Overhaul Is Good News For Investors

Recently enacted reforms making the qualified opportunity zone program permanent, restoring the basis step-up for capital gains and adding flexibility to the zone designation process enhance the program’s appeal for long-term investment, says Steven Hadjilogiou at McDermott.
What US-India Trade Deal Will Mean For Indian Pharma

Complicated by newly imposed tariffs from the U.S., the outcome of the U.S.-India trade talks is poised to reshape not just trade policy, but also the strategic alignment of the two countries' pharmaceutical ecosystems, says Jashaswi Ghosh at Holon Law Partners.
White House Report Strikes An Optimistic Note On Crypto

Taking seriously President Donald Trump's pledge to adopt a pro-innovation mindset toward digital assets and blockchain technologies, a recent benchmark White House report on crypto provides a comprehensive regulatory framework that takes into account the products' novel characteristics within the high-tech ecosystem, say attorneys at Davis Wright.
Series

Law School's Missed Lessons: Negotiation Skills

I took one negotiation course in law school, but most of the techniques I rely on today I learned in practice, where I've discovered that the process is less about tricks or tactics, and more about clarity, preparation and communication, says Grant Schrantz at Haug Barron.
Taxpayers Face Tough Choices Under NJ's New Nexus Rules

Though New Jersey’s new rules expanding the commercial nexus that triggers state taxation are likely to be challenged, businesses still need to carefully consider whether it’s best to minimize potential tax by reducing online customer support services or maintain their current instate services and begin paying tax, say attorneys at Husch Blackwell.
Bipartisan Bill Could Aid ESOP Formation, Valuation Clarity

The proposed Retire through Ownership Act represents a meaningful first step toward clarifying whether transactions qualify under the adequate consideration exemption in the Employee Retirement Income Security Act, potentially eliminating the litigation risk that has chilled employee stock ownership plan formation, say attorneys at Moore & Van Allen.
Opinion

Bar Exam Reform Must Expand Beyond A Single Updated Test

Recently released information about the National Conference of Bar Examiners’ new NextGen Uniform Bar Exam highlights why a single test is not ideal for measuring newly licensed lawyers’ competency, demonstrating the need for collaborative development, implementation and reform processes, says Gregory Bordelon at Suffolk University.