Tax

How Emotionally Intelligent AI Could Assist With E-Discovery

While artificial intelligence has already revolutionized the e-discovery field, the development of emotionally intelligent AI promises to explore data in an even more nuanced and human way, thereby further reducing the burden on legal teams, say Lisa Prowse and Brian Schrader at e-discovery services provider BIA.

How The Opportunity Zone Rules Can Work For Entrepreneurs

Recent guidance from the U.S. Department of the Treasury establishes three safe harbors businesses can satisfy to be considered as operating in an opportunity zone. Doug Jones at McGinnis Lochridge provides illustrative examples of what may turn out to be common fact patterns of entrepreneurs taking advantage of the program.

Preventable Risks Your Law Firm May Be Overlooking

Although most lawyers are well-prepared to defend or justify the value of an insurance claim for clients, often law firms have not clearly identified their own potential liabilities, planned for adequate insurance or established prudent internal risk management practices, says Victor Sordillo at Sompo International.

6 Ethics Tips For Attorneys Making Lateral Transfers

With lateral transfers between law firms on the rise, it is more important than ever for partners to understand the steps they must take to adhere to ethics rules and other requirements when making a transition, say attorneys at Harris Wiltshire.

Calif. Ruling May Curb Aggressive Foreign LLC Taxation

When the California Office of Tax Appeals decision in Jali becomes precedential, it will likely marginalize the relevance of the controversial Franchise Tax Board rulings, which attempted to justify assertion of taxable nexus over out-of-state members of California limited liability companies, say Tim Gustafson and Peter Hull of Eversheds Sutherland.

New CFC Rules Too Narrow To Fix Tax Overhaul Misfire

Recently issued tax rules don’t go far enough to remedy an unintended consequence of the Tax Cuts and Jobs Act that has resulted in U.S. affiliates of foreign parent companies being taxed as controlled foreign corporations, say attorneys at Sidley.

Opinion

President’s Private Business Interests Are Not Above The Law

President Donald Trump's New York federal court case against the Manhattan district attorney's subpoena of the president's tax returns insists that his private businesses and business associates are immune from state criminal investigation, but this immunity does not appear in the Constitution or any statute or treaty, say Arthur Middlemiss and Marc Scholl at Lewis Baach.

Direct Taxes: The Next Shoe To Drop After Wayfair?

Taxpayers should be alarmed at state efforts to extend the U.S. Supreme Court's Wayfair decision to direct taxes — including gross receipts, income and franchise taxes — despite the apparent protections of federal Public Law 86-272, says Martin Eisenstein of Brann & Isaacson.

California Tax Takes: Unclaimed Property Amnesty May Return

Among several important California tax developments this month is a budget bill section, which could ultimately provide immunity for businesses that may want to disclose potential unclaimed property but have been reluctant to do so under California’s onerous penalty provisions, say attorneys at Reed Smith.

Consider The Power Of Tactical Empathy

By employing tactical empathy techniques to understand the interests behind the positions taken by others, attorneys can gain the upper hand in deal negotiations and litigation while still promoting and preserving long-term relationships with opponents, judges and others, say Shermin Kruse of TEDxYouth@Wrigleyville and Ursula Taylor of Strategic Health.

The Problem — And Opportunity — Of Implicit Bias In The Bar

Law firms are beginning to recognize implicit bias as a problem. But too few recognize that it is also an opportunity to broaden our thinking and become better legal problem solvers, says Daniel Karon of Karon LLC.

Wisconsin Trailing In Midwest's Race To Legalize Cannabis

If it continues to watch from the sidelines as its neighboring states — especially Illinois — legalize marijuana, Wisconsin risks losing out on economic opportunities and tax revenue, says Paloma Kennedy of Reinhart Boerner.

6 Tax Questions For EU Economy Commissioner-Elect

At Thursday's hearing for European Economy Commissioner-elect Paulo Gentiloni, here's what European Parliament members should ask to get a better idea of Gentiloni's tax policy outlook, says Rick Minor of Womble Bond.

Series

Judging A Book: Thapar Reviews Gorsuch's 'A Republic'

U.S. Supreme Court Justice Neil Gorsuch's new book "A Republic, If You Can Keep It" offers hope for our constitutional system through stories of American greatness, and sheds much-needed light on originalism for skeptics, says Sixth Circuit Judge Amul Thapar.

Tax Factors To Consider In PE Purchase Price Negotiations

Parties to a private equity transaction take into account a number of factors to arrive at the purchase price. In this brief video, Eric Schwartzman and Alexander Lee of Cooley discuss tax considerations, including post-closing liabilities and indemnities, that should always be part of price negotiations.