Tax

  • May 22, 2024

    Hunter Biden's Calif. Tax Trial Pushed From June To Sept.

    A California federal judge on Wednesday moved Hunter Biden's criminal tax trial from June 20 to September over objections from the government and after Biden's attorney said the upcoming date is too close to his client's June 3 gun trial in Delaware, although the judge said no more extensions will be given.

  • May 22, 2024

    Taxpayers Received $90M In Refunds In Direct Filing Pilot

    Taxpayers who used the IRS' Direct File pilot program this year took an average of 20 minutes to file a return and received more than $90 million in refunds, but no decision has been reached on whether to expand the free program or make it permanent, the agency said Wednesday.

  • May 22, 2024

    Ill. Judge Hands Over Case As Cautious Step Amid DQ Bid

    An Illinois federal judge overseeing an Illinois tax attorney's witness tampering case — who previously presided over his fraud trial that ended in a mistrial — recused herself from a retrial "in an abundance of caution," but rejected the attorney's claims that she recommended to the government to add the tampering charge.

  • May 22, 2024

    Fraud Defendant Strikes Deal To End Ch. 11, Sell House

    A corporation owned by the defendant in a $93 million securities fraud case Wednesday told a Florida bankruptcy judge it has reached a deal to end its Chapter 11 case and sell the multimillion-dollar Coral Gables home that is its sole asset.

  • May 22, 2024

    'Ghost' Prepper, Feds Agree To Shut Down Tax Businesses

    A Connecticut businessman accused by the federal government of "ghost preparing" his customers' taxes and inflating their refunds by putting false information on their IRS paperwork has agreed to shut down his businesses in a cashless settlement.

  • May 22, 2024

    BofA Deserves Tax Refunds On Merger Interest, 4th Circ. Told

    The IRS should not have been allowed to keep the interest paid on 23 years' worth of tax underpayments by seven companies that merged into Bank of America, the company told the Fourth Circuit, arguing that the underpayments should be offset by overpayments under merger law.

  • May 22, 2024

    UK Dependency To Implement Pillar 2 Starting In 2025

    The island of Jersey, a U.K. crown dependency, said it would implement the international minimum tax for large corporations known as Pillar Two, with the law taking effect next year.

  • May 21, 2024

    Wash. Justices Seem Split On Funds Getting Biz Tax Breaks

    The Washington Supreme Court appeared divided on Tuesday over whether precedent means a group of funds are eligible for a business tax deduction on investment income, with one justice suggesting a previous ruling did not mesh with state tax law.

  • May 21, 2024

    Nixing Green Energy Tax Perks Would Be Tough For Trump

    Former President Donald Trump has vowed to scrap Democrats' signature 2022 climate law should he get reelected in November, but following through on that campaign promise could prove difficult amid bipartisan support for many of the law's clean energy tax incentives and a potentially divided Congress.

  • May 21, 2024

    SEC Gives Ex-BF Borgers Clients Reporting Deadline Reprieve

    The U.S. Securities and Exchange Commission says it will give former clients of suspended auditor BF Borgers CPA PC more time to file their first-quarter financial statements in acknowledgment of issuers' need to scramble to find new accountants after the agency unveiled an enforcement action over the alleged "massive fraud" at the firm earlier this month.

  • May 21, 2024

    CohnReznick Adds PwC Partner To International Tax Practice

    CohnReznick has a new principal in its international tax practice who previously served as a partner at PwC, the firm announced.

  • May 21, 2024

    22 States Tell 11th Circ. Corp. Transparency Act Goes Too Far

    The federal Corporate Transparency Act unconstitutionally displaces state authority and its enforcement would economically harm states and their residents, attorneys general from 22 states told the Eleventh Circuit, urging it to uphold a ruling that struck down the law.

  • May 21, 2024

    Valero Brings $37M Refund Claim Over Fuel Credit, Crude Tax

    Energy company Valero is seeking $37 million in tax refunds for biomass fuel mixtures it said should've qualified for the alternative fuel tax credit and for claimed overpayments of crude tax, according to a complaint in Texas federal court.

  • May 21, 2024

    Coverage Recap: Day 16 Of Trump's NY Hush Money Trial

    Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from Tuesday, day 16 of the trial.

  • May 21, 2024

    Strategic Hiring Was The New Normal For BigLaw In 2023

    The 400 largest law firms by headcount in the U.S. grew more slowly in 2023 than in the previous two years, while Kirkland & Ellis LLP surpassed the 3,000-attorney threshold, according to the latest Law360 ranking.

  • May 21, 2024

    The Law360 400: Tracking The Largest US Law Firms

    The legal market expanded more tentatively in 2023 than in previous years amid a slowdown in demand for legal services, especially in transactions, an area that has been sluggish but is expected to quicken in the near future.

  • May 21, 2024

    Trump Rests In NY Hush Money Trial, Declining To Testify

    Donald Trump rested his defense Tuesday in the Manhattan district attorney's criminal hush money case, closing out the testimony and setting the stage for deliberations next week after the former president opted not to take the witness stand.

  • May 21, 2024

    IMF Report Warns UK Against More Tax Cuts

    The United Kingdom should refrain from additional tax cuts unless they are credibly shown to boost economic growth and are offset by measures to cut the deficit, the International Monetary Fund said Tuesday.

  • May 20, 2024

    Ex-IRS Agent, Five Others Sentenced In COVID Fraud Scheme

    A former Internal Revenue Service agent, his brother and four other defendants have pled guilty to participating in a scheme that netted more than $3 million in fraudulent COVID-19 pandemic relief loans.

  • May 20, 2024

    Judge Assails Trump Witness After Manhattan DA Rests Case

    The Manhattan district attorney's office on Monday rested its case in the criminal trial of former President Donald Trump on 34 counts of falsifying business records, while a Davidoff Hutcher & Citron LLP attorney and witness found himself on the wrong side of New York Supreme Court Justice Juan Merchan.

  • May 20, 2024

    Transparency Act Violates Constitution, Groups Tell 11th Circ.

    The Corporate Transparency Act's reporting requirements violate the Fifth Amendment's protection against self-incrimination and other constitutional provisions, libertarian think tank Cato Institute and others said Monday in urging the Eleventh Circuit to uphold an Alabama district court's ruling against the law.

  • May 20, 2060

    Coverage Recap: Day 15 Of Trump's NY Hush Money Trial

    Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from day 15.

  • May 20, 2024

    2 House GOP Chairs Seek Study Of Premium Tax Credit Plan

    The Republican chairmen of the House Ways and Means and Budget committees want the Congressional Budget Office and Joint Committee on Taxation to study the impact of making the expanded Affordable Care Act premium tax credits permanent.

  • May 20, 2024

    Domino's Franchisee Gets Year In Prison In $2.5M Tax Case

    The owner of dozens of Domino's Pizza restaurants was sentenced to a year in prison Monday and ordered to pay $2.5 million to the Internal Revenue Service after having admitted he filed false tax returns, the U.S. Department of Justice said.

  • May 20, 2024

    Ex-Conn. Town Atty Sues Over 'False' Ethics Complaint

    Former Newington, Connecticut, town attorney Benjamin Ancona Jr. and other former officials took the Hartford-area suburb to state court claiming the town's assessor and others defamed them in and regarding a now-dismissed ethics complaint that was purportedly loaded with false statements.

Expert Analysis

  • How IRA Unlocks Green Energy Investments For Tribes

    Author Photo

    An Inflation Reduction Act provision going into effect May 10 represents a critical juncture for Native American tribes, offering promising economic opportunity in green energy investment, but requiring a proactive and informed approach when taking advantage of newly available tax incentives, say attorneys at Lewis Brisbois.

  • Series

    Serving As A Sheriff's Deputy Made Me A Better Lawyer

    Author Photo

    Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.

  • Fears About The End Of Chevron Deference Are Overblown

    Author Photo

    While some are concerned about repercussions if the U.S. Supreme Court brings an end to Chevron deference in the Loper and Relentless cases this term, agencies and attorneys would survive just fine under the doctrines that have already begun to replace it, say Daniel Wolff and Henry Leung at Crowell & Moring.

  • Former Minn. Chief Justice Instructs On Writing Better Briefs

    Author Photo

    Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.

  • What To Know About IRS' New Jet Use Audit Campaign

    Author Photo

    The Internal Revenue Service recently announced plans to open several dozen audits scrutinizing executive use of company jets, so companies should be prepared to show the business reasons for travel, and how items like imputed income and deduction disallowance were calculated, say attorneys at Morgan Lewis.

  • Stay Interviews Are Key To Retaining Legal Talent

    Author Photo

    Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.

  • Opinion

    Neb. Justices Should Weigh IRC Terms In Dividend Tax Case

    Author Photo

    Nebraska’s highest court, which will hear oral arguments in Precision CastParts v. Department of Revenue on April 1, should recognize that the Internal Revenue Code provides key clues to defining “dividends received or deemed to be received,” and therefore limits Nebraska’s tax on foreign-sourced corporate income, says Joseph Schmidt at Ryan.

  • Series

    Spray Painting Makes Me A Better Lawyer

    Author Photo

    My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.

  • A Legal Playbook For Stadium Construction Agreements

    Author Photo

    As a new wave of construction in the professional sports arena space gets underway, owners must carefully consider the unique considerations and risks associated with these large-scale projects and draft agreements accordingly, say attorneys at Akerman.

  • Opinion

    Judicial Independence Is Imperative This Election Year

    Author Photo

    As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.

  • Series

    Riding My Peloton Bike Makes Me A Better Lawyer

    Author Photo

    Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

    Author Photo

    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • What Recent Study Shows About AI's Promise For Legal Tasks

    Author Photo

    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • How FinCEN Proposal Expands RE Transaction Obligations

    Author Photo

    Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.

  • What To Know About Employee Retention Credit Disclosures

    Author Photo

    Employers that filed potentially erroneous employee retention credit claims should take certain steps to determine whether the IRS’ voluntary disclosure program is a good fit and, if so, prepare a strong application before the window closes on March 22, say attorneys at Dentons.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Tax archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!