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Tax
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April 29, 2025
Automakers Get 15% Tariff Offset Under New Trump Order
President Donald Trump will sign an executive order Tuesday afternoon to provide automakers that produce and sell finished vehicles in the U.S. a 15% offset on future imported parts that face a 25% tariff for the next year.
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April 28, 2025
Feds' Bid To Spring False Biden Accuser Shot Down By Judge
A California federal judge rejected a request Monday by prosecutors to release a former FBI informant imprisoned for lying to federal agents that former President Joe Biden accepted bribes, saying he does not agree the court made a mistake at sentencing that should result in his release pending appeal.
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April 28, 2025
Court Urged To Reconsider Jurisdiction In Tribal Tariff Row
Blackfeet Nation members are asking a Montana federal judge to reconsider an order to transfer their challenge against President Donald Trump's tariffs on imports from Canada and abroad to the U.S. Court of International Trade, saying the decision is based on the constitutional question of the Indian commerce clause.
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April 28, 2025
NC Dentist Acquitted Of $3M Fraud, Tax Evasion Charges
A North Carolina dentist was acquitted of wire fraud and tax evasion charges on the fourth day of a federal jury trial in which prosecutors had alleged the dentist submitted false loan applications to the Small Business Administration and failed to pay income taxes.
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April 28, 2025
Feds Urged To Drop Crypto Mixer Charges After DOJ Memo
Federal prosecutors are weighing whether to continue pursuing a criminal case against two executives of crypto mixing service Samourai Wallet in light of a recent U.S. Department of Justice memo limiting certain digital asset prosecutions.
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April 28, 2025
Tax Services Provider Andersen Files Confidential IPO Plans
Tax and legal services provider Andersen Group Inc. said Monday it confidentially filed for an initial public offering, marking a first step toward going public amid market volatility that has largely frozen IPOs in recent weeks.
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April 28, 2025
Board Game Co., 11 Others Say Trump Tariffs Unconstitutional
President Donald Trump's tariffs exceed the constitutional authority of the executive branch, argued 12 American companies, including a manufacturer of tabletop games that are printed in China, urging a federal court to halt them.
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April 28, 2025
2nd Circ. Upholds Clinic Manager's Repeat Charges For Fraud
A decision that allowed the federal government to reindict a health clinic manager for a Medicare and tax fraud scheme can stand, a Second Circuit panel found Monday, agreeing with the lower court that his offenses were serious enough to permit it.
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April 28, 2025
No Harm Shown Over DOGE Access To Tax Data, US Says
The U.S. government asked a D.C. federal court to throw out four organizations' bid to keep the White House's Department of Government Efficiency from accessing confidential taxpayer data, saying their suit fails to show injury to the groups' members.
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April 28, 2025
Feds No Longer Want Convicted Ex-Ill. Speaker To Forfeit $3M
The federal government has reversed course on a bid for former Illinois House Speaker Michael Madigan to forfeit more than $3 million in the wake of his partial conviction on public corruption, saying it stands by its legal arguments but was backing off as "a matter of discretion."
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April 28, 2025
China Doesn't Need US Grains, Seed Oils, State Planner Says
China doesn't need to import grains and seed oils from the U.S. because it can source them domestically or internationally, an official from the country's state planning commission said Monday about the most valuable category of U.S. exports to China.
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April 28, 2025
China Says No Tariff Negotiations Underway With US
China is not currently negotiating with the United States on tariffs, and President Xi Jinping has not spoken to President Donald Trump on the phone recently, a spokesperson for China's foreign ministry said Monday.
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April 28, 2025
Colo. House Panel OKs Axing Deduction For Free Sports Bets
Colorado would eliminate a tax deduction for sports betting operators for free bets placed by players under a bill approved by the state House Appropriations Committee.
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April 28, 2025
Md. Expands Tax Break For Biz-Owned Child Care Property
Maryland expanded eligibility for a property tax credit for Anne Arundel County businesses that dedicate a portion of their property to child care services under a bill signed by the governor.
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April 25, 2025
Judge Blocks Trump Order Limiting Fed. Worker Bargaining
A Washington, D.C., federal judge on Friday blocked President Donald Trump's order last month seeking to end collective bargaining for workers at more than a dozen federal agencies with national security roles, two days after suggesting during oral arguments that Trump's order was retaliatory.
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April 25, 2025
Feds Say Tariff Fight Belongs In International Trade Court
The Trump administration wants to litigate a challenge to its tariffs in a federal trade court, not the D.C. district court, arguing that the U.S. Court of International Trade is the only venue with jurisdiction to hear the case.
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April 25, 2025
Sen. Crapo Calls Exec Session For Commerce, Treasury Noms
U.S. Senate Finance Committee Chairman Mike Crapo, R-Idaho, announced Friday that it will hold an executive session Tuesday to consider President Donald Trump's picks for roles at the U.S. Department of Commerce and U.S. Department of the Treasury.
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April 25, 2025
US Seeks To Block Refund For Captive Insurance Penalties
A Pennsylvania federal court should reject a company's bid for an immediate penalty refund for operating what the IRS claimed is an abusive tax shelter through its microcaptive insurance program, the government argued Friday, saying the company is seeking protection in an unrelated U.S. Supreme Court ruling.
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April 25, 2025
Detroit Man Gets 5 Years For Tax Refund Laundering
A Detroit man was sentenced Friday in Maryland federal court to five years in prison for his role in laundering money stolen from federal and North Carolina state tax refunds and was ordered to pay $604,000 in restitution.
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April 25, 2025
IRS Says Docs In Captive Insurance Case Are Privileged
The IRS defended its refusal to release information to a tax services company seeking audit records of its captive insurance program, telling a Texas federal court that the agency's redactions of the requested records are protected by attorney-client privilege and other exceptions to the Freedom of Information Act.
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April 25, 2025
Pope Francis Leaves Behind Tax Justice Legacy
Pope Francis, who died Monday at age 88, helped advance calls for tax justice by speaking out against the social costs of tax avoidance and raised awareness of the need for tax reform, according to proponents of income equality.
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April 25, 2025
Taxation With Representation: Dechert, Brown Rudnick
In this week's Taxation With Representation, Boeing sells parts of its digital aviation solutions business to Thoma Bravo, Baker Tilly and Moss Adams join forces, Mobico sells its U.S. school bus business to I Squared Capital, and Apollo commits to a joint venture with Bullrock Energy Ventures.
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April 25, 2025
Incarcerated Ex-Nelson Mullins Atty Suspended In Ohio
The Ohio Supreme Court has suspended a former Nelson Mullins Riley & Scarborough LLP attorney, who is serving a one-year jail sentence for disobeying law enforcement orders, from practicing law in the Buckeye State.
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April 25, 2025
5 Issues Benefits Attys Want The Gov't To Shed Light On
The first three months of President Donald Trump's administration have left lawyers who represent employers and benefit plans hungry for clarity on issues like cryptocurrency as a 401(k) investment and coverage for gender-affirming care. Here, Law360 looks at five areas where attorneys are hoping for guidance or regulations.
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April 24, 2025
Md. To Allow Baltimore Tax Hike On Vacant Nonprofit Property
Baltimore will be able to impose a special property tax rate on nonprofit owned properties that have gone untouched for at least five years under a bill signed by the Maryland governor.
Expert Analysis
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Considering Possible PR Risks Of Certain Legal Tactics
Disney and American Airlines recently abandoned certain litigation tactics in two lawsuits after fierce public backlash, illustrating why corporate counsel should consider the reputational implications of any legal strategy and partner with their communications teams to preempt public relations concerns, says Chris Gidez at G7 Reputation Advisory.
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It's No Longer Enough For Firms To Be Trusted Advisers
Amid fierce competition for business, the transactional “trusted adviser” paradigm from which most firms operate is no longer sufficient — they should instead aim to become trusted partners with their most valuable clients, says Stuart Maister at Strategic Narrative.
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Avoid Getting Burned By Agencies' Solar Financing Spotlight
Recently coordinated reports and advisories from the U.S. Department of the Treasury, the Consumer Financial Protection Bureau and the Federal Trade Commission maximize the spotlight on the consumer solar financing market and highlight pitfalls for lenders to avoid in this burgeoning field, says Mercedes Tunstall at Cadwalader.
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Tax Traps In Acquisitions Of Financially Distressed Targets
Excerpt from Practical Guidance
Parties to the acquisition of an insolvent or bankrupt company face myriad tax considerations, including limitations on using the distressed company's tax benefits, cancellation of indebtedness income, tax lien issues and potential tax reorganizations.
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Navigating A Potpourri Of Possible Transparency Act Pitfalls
Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.
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How Methods Are Evolving In Textualist Interpretations
Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.
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Financial Incentives May Alleviate Affordable Housing Crisis
There is a wide array of financial incentives and assistance that the government can provide to both real estate developers and individuals to chip away at the housing affordability problem from multiple angles, say Eric DeBear and Madeline Williams at Cozen.
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Why Attorneys Should Consider Community Leadership Roles
Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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5 Tips To Succeed In A Master Of Laws Program And Beyond
As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.
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Opinion
Portland's Gross Receipts Tax Oversteps City's Authority
Recent measures by Portland, Oregon, that expand the voter-approved scope of the Clean Energy Surcharge on certain retail sales eviscerate the common meaning of the word "retail" and exceed the city's chartered authority to levy tax, say Nikki Dobay at Greenberg Traurig and Jeff Newgard at Peak Policy.
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Series
Being An Opera Singer Made Me A Better Lawyer
My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.
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Pros, Cons Of Disclosing Improper Employee Retention Credit
Employers considering the Internal Revenue Service’s second voluntary disclosure program, which allows companies to avoid penalties for erroneously claiming employee retention credits for the 2021 tax year by repaying the credits and naming the tax advisers who encouraged these abusive practices, should carefully weigh the program’s benefits against its potential drawbacks, say attorneys at Winston & Strawn.
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How Law Firms Can Avoid 'Collaboration Drag'
Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.
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Assessing The Practicality Of Harris' Affordable Housing Plan
Vice President Kamala Harris' proposed "Build the American Dream" plan to tackle housing affordability issues takes solid recommendations into account and may fare better than California's unsuccessful attempt at a similar program, but the scope of the problem is beyond what a three-point plan can solve, says Brooke Miller at Sheppard Mullin.