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Tax
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April 09, 2024
Trump Loses 2nd Appellate Bid To Pause NY Criminal Trial
A New York state appellate judge refused Tuesday to delay Donald Trump's upcoming criminal hush-money trial while the former president challenges a gag order, just one day after a different appeals judge declined to halt the trial due to supposed jury pool bias.
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April 08, 2024
NRA, LaPierre, Execs Seek To Ax $6M Misconduct Verdict
The National Rifle Association, its longtime CEO Wayne LaPierre and two other executives asked a New York judge to throw out a Manhattan jury's verdict that they improperly used donor money, among other misconduct, and owe the gun rights group a total of $6.4 million.
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April 08, 2024
No Tax Cuts Or Hikes In Va. Budget, Youngkin Now Says
Virginia would have neither tax cuts nor tax increases in the next biennial budget under an updated plan released Monday by Gov. Glenn Youngkin, who said he knew he must compromise with the Democratic-run General Assembly.
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April 08, 2024
Ex-IRS Criminal Investigations Head Joins Crypto Data Firm
A newly retired chief of the Internal Revenue Service's law enforcement arm is taking his skills to blockchain analytics firm Chainalysis, where he'll help federal agencies and crypto firms leverage Chainalysis' data and solutions to combat financial crime.
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April 08, 2024
FTC Defends In-House Judges' Role In H&R Block Case
H&R Block wrongly claimed that the Federal Trade Commission's administrative law judges should be disqualified from overseeing an administrative proceeding accusing the tax preparation company of deceptive advertising, FTC lawyers told the agency, arguing the judges don't have illegal job protections.
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April 08, 2024
Mo. Atty Loses Last-Ditch Bid To Dodge NC Tax Fraud Trial
A St. Louis attorney lost a last-minute attempt to escape his upcoming tax fraud trial based on claims that the prosecution was never properly authorized, with a North Carolina federal judge finding that the government did mislead the court but nonetheless had the right stamp of approval.
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April 08, 2024
Jackson Hewitt Preparers Want First OK On $10.8M Deal
Former Jackson Hewitt Inc. workers have reached a $10.8 million settlement with their former employer over claims the company's franchisees entered into an anti-competitive no-poach agreement despite the provision being removed from the company's franchise agreements, according to a Friday motion.
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April 08, 2024
EU Tax Single Filing Would Aid Small-Biz Trade, Official Says
A proposal allowing small businesses in the European Union to file a single tax return with the administration of the business' head office as opposed to with every member country where the entity does business would cut compliance costs and encourage trade, an EU official said.
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April 08, 2024
Trump Can't Move Hush Money Trial, NY Appeals Judge Says
A New York appellate judge on Monday denied Donald Trump's request to halt his upcoming hush money trial due to what the former president cast as a hopelessly biased jury pool in Manhattan, as he awaited a hearing on his separate bid to lift a gag order.
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April 05, 2024
Parents Seek Justices' Review Of Private School Funding Law
Five Michigan families want the U.S. Supreme Court to hear their challenge to a Michigan constitutional provision that they say prevents them from using tax-advantaged education savings accounts to pay for religious school tuition, alleging the law amounts to religious discrimination.
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April 05, 2024
FCC Says Carrier Must Kill Tax Relief Scam Robocalls
The Federal Communications Commission says it's doing some spring-cleaning and will be clearing out entities supporting clients that make illegal robocalls, starting with a company that has been allowing a client to send out some 15 million calls about a fake tax relief program.
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April 05, 2024
Chrisley Must Pay $755K For Slandering Ga. Tax Worker
Former reality star and convicted fraudster Michael "Todd" Chrisley must pay $755,000 in damages after a federal jury found this week that he slandered a Georgia Department of Revenue employee who played a bit role in his criminal investigation.
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April 05, 2024
Monopolies Will Raise Prices Under Minimum Tax, Expert Says
The 15% global minimum tax will worsen the problems that monopolistic companies impose on economies because raising taxes on a company that lacks competition will lead it to raise prices, an academic expert on tax havens said Friday during a conference.
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April 05, 2024
Homeowners' Energy Efficient Rebates Not Income, IRS Says
The U.S. Department of Energy rebates awarded to taxpayers who bought an energy efficient home or retrofitted their current residence to reduce energy consumption won't need to be reported in the property owner's gross income, the IRS announced Friday.
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April 05, 2024
NC High Court Snapshot: Law Firm Battles Defamation Suit
The Supreme Court of North Carolina has a stacked calendar heading into spring arguments, from an appeal over Black-owned properties targeted for demolition to a law firm's attempt at dodging defamation claims over allegations of voter fraud.
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April 05, 2024
Green Energy Co. Duped Investors Out Of $40M, Suit Says
A proposed class of investors has hit a purported Chicago green energy outfit and its executives with a federal suit claiming they used promises of extravagant returns to get the plaintiffs to invest but never created any energy or produced the returns they promised.
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April 05, 2024
Judge Won't Recuse Herself From Doctor's NBA Fraud Trial
A Manhattan federal judge has refused to step away from the case of a Seattle doctor accused of participating in a scheme to defraud the National Basketball Association's health plan, saying there was "no basis" for his bid to oust her after he took issue with the trial schedule and what he described as systemic barriers.
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April 05, 2024
18 Crime Gangs Specialize In VAT Fraud, Europol Says
Eighteen major criminal gangs in the European Union specialize in value-added tax fraud, having end-to-end control over the entire criminal process, the EU's law enforcement agency said Friday.
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April 04, 2024
Jury Clears Exec From Penalties In Captive Insurance Case
An insurance executive and three of his companies won't face tax penalties for promoting an illegitimate insurance arrangement, a Florida federal jury ruled Thursday.
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April 04, 2024
Snell & Wilmer Adds Former McDermott Partner In Dallas
A former McDermott Will & Emery partner and tax specialist has joined Snell & Wilmer's Dallas office to advise clients on cross-border transactions, particularly in Latin America and Mexico.
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April 04, 2024
NC Tax Fraud Trial Evidence Bids Get Lukewarm Reception
A North Carolina federal judge on Thursday seemed reluctant to limit certain evidence against two attorneys and an insurance agent in their upcoming tax fraud trial, saying some of it seemed pertinent to the government's quest to prove intent but suspected other information might be construed by jurors as "petty."
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April 04, 2024
Hawaii Cannabis Legalization Bill Dies In State House
An effort to legalize adult-use marijuana in Hawaii is effectively dead for this legislative session after Democrats in the state House of Representatives announced they would not deliberate any further on a proposal that had already cleared the state Senate this year.
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April 04, 2024
NY AG Wants Trump Insurer To Guarantee $175M Bond
New York Attorney General Letitia James asked a Manhattan judge Thursday to make sure the California insurer that agreed to post Donald Trump's $175 million bond in his civil business fraud case can actually pay.
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April 04, 2024
Attys Awarded $1.5M In Fees On Tax Disclosure Suit
Attorneys who won a $4.5 million settlement for a class of investors claiming a Chinese startup misrepresented its tax liability will receive their requested $1.5 million in attorney fees, a New York federal judge ruled.
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April 04, 2024
Md. Lessee Owes Tax On Gov't Property, Appeals Court Says
A lessee of government property in Maryland that was sublet to other users was correctly denied a partial property tax abatement, the state appeals court has said, even though some subtenants were government entities.
Expert Analysis
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10 Considerations For Litigating A New York Tax Case
While some of New York’s recently adopted corporate tax regulations are likely to face legal challenges, aggrieved taxpayers should answer certain questions before deciding to embark on the tax litigation process, say Cyavash Ahmadi and Jeffrey Friedman at Eversheds Sutherland.
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Charting The Course For Digital Assets In 2024
Although 2023 was a tough year for the digital asset industry, upcoming court decisions, legislation and regulatory action will bring clarity, allowing the industry to expand and evolve, and the government will decide what innovation it will allow without challenge, says Joshua Smeltzer at Gray Reed.
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Law Firm Strategies For Successfully Navigating 2024 Trends
Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.
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The Most-Read Legal Industry Law360 Guest Articles Of 2023
A range of legal industry topics drew readers' attention in Law360's Expert Analysis section this year, from associate retention strategies to ethical billing practices.
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Attorneys' Busiest Times Can Be Business Opportunities
Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.
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In The World Of Legal Ethics, 10 Trends To Note From 2023
Lucian Pera at Adams and Reese and Trisha Rich at Holland & Knight identify the top legal ethics trends from 2023 — including issues related to hot documents, artificial intelligence and cybersecurity — that lawyers should be aware of to put their best foot forward.
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How Attorneys Can Be More Efficient This Holiday Season
Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.
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Series
Children's Book Writing Makes Me A Better Lawyer
Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.
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5 Traps To Avoid When Selling CRE In Las Vegas Area
When dealing with commercial real estate in Clark County, Nevada — which includes the Las Vegas metro area — even sophisticated sellers may be ensnared by a myriad of tricky issues, ranging from transfer tax nuances to arbitration laws, says Chris Walther at Fennemore Craig.
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'Brownfields' Definition Key To Energy Community Tax Credits
As the IRS rolls out guidance for claiming community energy tax credits under the Inflation Reduction Act, a review of the long-standing statutory definition of "brownfields" reveals that it continues to serve the goal of creating opportunities for investment in abandoned properties, says Louise Dyble at Sheppard Mullin.
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Opinion
Giving The Gov't Drug Patent March-In Authority Is Bad Policy
The Biden administration's recent proposal to allow government seizure of certain taxpayer-funded drug patents is a terrible idea that would negate the benefits of government-funded research, to the detriment of patients and the wider economy, says Wayne Winegarden at Pacific Research Institute.
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How Clients May Use AI To Monitor Attorneys
Excerpt from Practical Guidance
Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.
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Series
The Pop Culture Docket: Judge D'Emic On Moby Grape
The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.
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Series
Performing Music Makes Me A Better Lawyer
The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.
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How 'As Such' Changes LPs' Self-Employment Tax Exposure
In light of the U.S. Tax Court’s recent Soroban Capital Partners decision hinging on "as such" to define the statutory limited partners exemption, state law limited partnerships should consider partners' roles and responsibilities before determining whether they are obligated to pay self-employment income tax, say attorneys at Morgan Lewis.