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Tax
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May 02, 2025
Groups Seek Order Halting Trump's Restructuring Of Gov't
A California district court must stop federal agencies from moving ahead with President Donald Trump's directive to reorganize and terminate government workers, unions and other groups argued, calling for a temporary restraining order based on alleged harms from the administration's "radical restructuring."
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May 02, 2025
Mass. Board Upholds Home's Valuation Despite Comparables
A Massachusetts homeowner cannot have the value of her home lowered after failing to account for the differences between her home and the comparable sales she provided, the state tax appeals board said in a ruling released Friday.
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May 02, 2025
IRS Updates Rates For Foreign Insurance Company Equations
The Internal Revenue Service on Friday published updated domestic asset/liability and yields percentages for 2024 that foreign life insurance companies and foreign property and liability insurance companies need to compute their minimum effectively connected net investment income.
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May 02, 2025
Taxation With Representation: Goodwin, Haynes Boone
In this week's Taxation With Representation, Merck buys SpringWorks Therapeutics, Novartis AG acquires Regulus Therapeutics Inc., Sabre Corp. sells its Hospitality Solutions business to private equity shop TPG, and TWG Global and Mubadala Capital team up to bolster their investments.
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May 02, 2025
Community Groups Accept Pause In CTA Litigation
A group of community associations has told the Fourth Circuit they aren't opposed to a government motion to pause litigation over the Corporate Transparency Act, even as they maintained the information disclosure law aimed at small businesses still carries constitutional flaws.
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May 01, 2025
PepsiCo Owes $2.1M In Tax Penalties, Illinois Panel Affirms
PepsiCo was correctly assessed $2.1 million in penalties for categorizing Frito-Lay expatriates' compensation as foreign payroll that would allow the company's profits to be excluded from state income tax calculations, according to an Illinois Appellate Court panel.
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May 01, 2025
Multinationals Grapple With Tariff-Induced Pricing Issues
President Donald Trump's flurry of tariff actions since taking office has created new questions for multinationals and their transfer pricing tax planners, including how to properly account for cost increases associated with new duties in related party transactions.
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May 01, 2025
Uber Needed To Collect Tax Pre-Wayfair, Ga. Panel Affirms
Uber was required to collect and remit millions in sales taxes on behalf of drivers and customers who used its app before the Wayfair decision, a Georgia appellate panel held Thursday, ruling against the ride-hailing company and upholding a trial court decision.
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May 01, 2025
Colo. Fees Don't Violate TABOR, Appeals Panel Says
The enterprise fees in Colorado's state transportation package passed in 2021 do not violate the state's Taxpayer Bill of Rights, a state appeals court said Thursday, upholding a district court ruling and rejecting a challenge from a conservative group.
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May 01, 2025
Colo. House OKs Eliminating Deduction For Free Sports Bets
Colorado would reduce and then eliminate a tax deduction for sports betting operators for free bets placed by players under a bill passed by the state House of Representatives and referred to the state Senate's Finance Committee.
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May 01, 2025
IRS Updates Inflation-Adjusted HSA Amounts For 2026
The Internal Revenue Service issued inflation-adjusted amounts Thursday for health savings accounts for 2026, as well as the maximum amount that may be made available for excepted benefit health reimbursement arrangements.
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May 01, 2025
Hunter Biden Drops Tax Privacy Case Against IRS
Hunter Biden dropped his suit against the federal government alleging the unauthorized disclosure of his tax return information by special agents and their attorneys who talked publicly about an investigation that culminated in Biden's copping to criminal tax charges.
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May 01, 2025
Nelson Mullins Lands Porter Hedges Tax Pro In Houston
Nelson Mullins Riley & Scarborough LLP announced Thursday that it has fortified its tax controversy and litigation team with a partner in Houston who came aboard from Porter Hedges LLP.
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April 30, 2025
Senate Rejects Bill To End Trump's Nat'l Emergency On Tariffs
The U.S. Senate narrowly rejected a bipartisan bill Wednesday that sought to end the national emergency declared by President Donald Trump to underpin his global tariff regime, with two senators absent for the vote, and with U.S. House consideration delayed until October.
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April 30, 2025
3rd Circ. Preview: NJ To Defend ICE Contractor Law In May
The Third Circuit's argument lineup for May will see the state of New Jersey defend a law barring its immigration detention centers from contracting with U.S. Immigration and Customs Enforcement, while Rutgers University seeks to keep its victory over claims it falsely inflated its business school's ranking.
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April 30, 2025
Tribes Join Push For High Court To Review Ariz. Tax On Plant
Arizona misinterpreted federal law and threatened the sovereignty of a Native American tribe with its taxation of a natural-gas-powered plant that sits on a reservation, the tribe told the U.S. Supreme Court in a brief Wednesday.
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April 30, 2025
Coinbase Urges Justices To Take User's IRS Data Seizure Suit
Crypto exchange Coinbase on Wednesday urged the U.S. Supreme Court to firm up privacy rights around digital information stored with third parties, backing a petition by a Coinbase user who's challenging the Internal Revenue Service's seizure of his account records.
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April 30, 2025
US Economy Shrank 0.3% In First Quarter As Imports Surged
U.S. gross domestic product fell at an annual rate of 0.3% in the first quarter of 2025 as importers stockpiled goods in advance of President Donald Trump's global tariff regime, the U.S. Department of Commerce announced Tuesday.
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April 30, 2025
EU Busts $10M VAT Fraud Ring Involving Chinese Imports
The European Anti-Fraud Office and Polish authorities uncovered a value-added tax fraud ring that exploited European Union rules to dodge over 38.2 million Polish zloty ($10.1 million) in value-added taxes on goods imported from China, they said Wednesday.
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April 30, 2025
Morgan Lewis Expands Tax Practice With Milbank Hire
Morgan Lewis & Bockius LLP added a former Milbank special counsel as a tax partner based in the firm's London office.
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April 30, 2025
Dentist Fights HMRC Over Alleged Tax Avoidance
A dentist's firm urged an appeals court on Wednesday to find that it had not engaged in tax avoidance by making loan payments to its owner through a trust, saying the payments had no connection to its owner's employment and therefore were not taxable as income.
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April 30, 2025
Sheppard Mullin Brings On Kirkland Tax Ace In Houston
Sheppard Mullin Richter & Hampton LLP announced Wednesday that it expanded its tax, employee benefits and trusts and estates practice with a new partner most recently with Kirkland & Ellis LLP.
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April 30, 2025
DOJ Fights Firm's Bid To Halt Tax Collection During Suit
A boutique Connecticut consumer protection law firm cannot block the IRS from collecting 2022 and 2023 payroll taxes while the firm challenges the government's alleged failure to process CARES Act payroll credit requests in 2021, the U.S. Department of Justice has argued.
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April 30, 2025
Barclay Damon Continues Growth With Morrison Cohen Hire
Barclay Damon LLP is continuing the momentum its headcount growth made in 2024, announcing Tuesday that it has hired an employee benefits attorney from Morrison Cohen LLP in New York City.
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April 30, 2025
Dem Reps. Urge Court To Block IRS-ICE Info-Sharing Pact
House Democrats and two organizations that help immigrants prepare tax returns urged a D.C. federal court to block the Internal Revenue Service from sharing with immigration enforcement agencies the names and addresses of people suspected of being in the country illegally.
Expert Analysis
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How Trump Policies Are Affecting The Right To Repair
Recent policy changes by the second Trump administration — ranging from deregulatory initiatives to tariff increases — are likely to have both positive and negative effects on the ability of independent repair shops and individual consumers to exercise their right to repair electronic devices, say attorneys at Carter Ledyard.
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How Attorneys Can Master The Art Of On-Camera Presence
As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.
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Series
Baseball Fantasy Camp Makes Me A Better Lawyer
With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.
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Series
Adapting To Private Practice: From Fed. Prosecutor To BigLaw
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.
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Justices' False Statement Ruling Curbs Half-Truth Liability
The U.S. Supreme Court’s recent Thompson v. U.S. decision clarified that a federal statute used to prosecute false statements made to bank regulators only criminalizes outright falsehoods, narrowing prosecutors’ reach and providing defense counsel a stronger basis to challenge indictments of merely misleading statements, says Tamara de Silva at De Silva Law Offices.
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Perfecting Security Interests In Renewable Energy Tax Credits
The ability to transfer renewable energy tax credits has created new opportunities for developers, investors and lenders, but it also raises important questions regarding when and how the security interests in these credits are perfected — questions that must be answered definitively to protect credit claims and transactions, says Harry Teichman at Stinson.
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Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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Making The Opportunity Zones Program Great At Last
As the opportunity zone program approaches its expiration, the Republican-led government could take specific steps to extend and improve the program, address its structural flaws, encourage broader participation and enable it to live up to its promised outcomes, say attorneys at Pillsbury.
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Opinion
We Must Allow Judges To Use Their Independent Judgment
As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.
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Preparing For Tariffs On Canadian Power In The Northeast
The on-again, off-again risk of import and export tariffs on energy transactions between the U.S. and Canada may have repercussions for U.S. energy stakeholders in the ISO New England and New York Independent System Operator electricity markets — but there are options that could help reduce cost impacts, say attorneys at Husch Blackwell.
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Series
Performing Stand-Up Comedy Makes Me A Better Lawyer
Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.
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Series
Adapting To Private Practice: From SEC To BigLaw
As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.
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Making The Case For Rest In The Legal Profession
For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.
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Mitigating Tariff Risks For Healthcare In US And Canada
Healthcare stakeholders should take steps to evaluate the impact of cross-border tariffs, as the historically strong ties between Canada and the U.S. demonstrate the potential for real disruption and harm to the healthcare industry in both countries, say attorneys at Norton Rose.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.