Tax

  • February 13, 2024

    'She Didn't Ask, And I Didn't Tell,' Ex Says Of Fraud Scheme

    Both federal prosecutors and defense counsel for a Georgia woman accused of using her small business to hide hundreds of thousands of dollars in illegally obtained pandemic loans agreed Tuesday that her ex-husband was not just a philanderer, but a fraudster to boot.

  • February 13, 2024

    US Asks Court To OK $1.4B Tax Claim Against SVB

    A D.C. federal court should step in and approve a $1.4 billion IRS tax claim against the shuttered Silicon Valley Bank, the U.S. government said Tuesday, saying the court has the authority to circumvent a rejection by the Federal Deposit Insurance Corp., the bank's receiver.

  • February 13, 2024

    Think Tank Says US Should Undermine OECD Global Tax Deal

    The U.S. should try to undermine the OECD's global tax deal by pursuing reforms to corporate tax policy that would maximize the country's attractiveness to international investors and by cutting funding to the organization, the libertarian Cato Institute said Tuesday.

  • February 13, 2024

    LaPierre Defends TV Spots, Celeb Ties As NRA Trial Nears End

    Former National Rifle Association CEO Wayne LaPierre told jurors in New York state court in the final week of trial Tuesday that he went on television and rubbed elbows with celebrities not out of a desire for the spotlight but to anchor the gun group in "mainstream American culture."

  • February 13, 2024

    Netflix Streaming Tangible Enough For Sales Tax, Colo. Says

    Netflix can't avoid Colorado sales tax on its streaming subscriptions using a distinction between "physical" and "digital" goods, Colorado's tax department told a state court, arguing that such a distinction is false and the company's goods are "corporeal" and by law subject to the tax.

  • February 13, 2024

    Md. Senate Panel OKs Aircraft Parts Tax Break Extension

    Aircraft parts and equipment would continue to get a sales tax exemption in Maryland under legislation approved Tuesday by a state Senate panel.

  • February 13, 2024

    Ex-IRS Contractor Appeals 5-Year Sentence For Tax Info Leak

    A former IRS contractor sentenced to five years in prison for stealing and leaking former President Donald Trump's tax returns — and those of thousands of other wealthy people — to the media told a D.C. federal court he will appeal his final judgment.

  • February 13, 2024

    Andersen Announces Expansion Of Global Valuation Practice

    Professional services firm Andersen has added 14 groups across Europe to its valuation practice in the last 12 months, part of its drive to become a leading valuation provider worldwide, the company announced Tuesday.

  • February 12, 2024

    NC High Court Snapshot: Philip Morris Fights Tax Credit Limit

    North Carolina's top court will return in February from an extended hiatus to weigh whether a home healthcare company was correctly ejected from the state's Medicaid program, and if regulators were right to limit state export tax credits for tobacco giant Philip Morris.

  • February 12, 2024

    Mich. Tax Cut Should Be Permanent, State Appellate Court Told

    A Michigan law enacted in 2015 that lowers the income tax rate when revenue collections exceed a certain threshold provides a permanent reduction, a group of taxpayers told the state appeals court.

  • February 12, 2024

    Ga. Attys Claim Fund Managers Organized Illegal Tax Shelter

    Managers of a fund profited by selling units in a "grossly inflated" tax shelter and then hid a federal criminal investigation into the arrangement from investors, partners in an Athens, Georgia, law firm said in a suit recently transferred to federal court.

  • February 12, 2024

    Ind. Seed Lab Property Exempt From Tax, Board Says

    An Indiana laboratory used to test seeds qualifies for a property tax exemption because it is used for scientific purposes and benefits the public, the state Board of Tax Review said.

  • February 12, 2024

    Court Reporters Deemed Exempt Contractors In Benefits Case

    A New Jersey appellate court on Monday partially undid orders requiring two legal transcription services companies to reimburse the state for unpaid unemployment and disability benefits, ruling that court reporters are exempt independent contractors under state law.

  • February 12, 2024

    Md. Bill Aims To Expand Eligibility For Homestead Tax Credit

    Maryland would expand eligibility for the state's homestead property tax credit to include homeowners' additional residences under a bill introduced in the state House of Delegates.

  • February 12, 2024

    Hogan Lovells Builds Out Corp. Group With 2 Partners

    Hogan Lovells announced Monday it has bolstered its corporate and finance group with the hiring of new partners in New York and Boston.

  • February 09, 2024

    6th Circ. Says Fed. Court Can't Hear $420K Tax Lien Case

    Federal law prevents an Ohio company from suing county tax assessors in Ohio federal court over whether the company owes more than $420,000 in back property taxes, a Sixth Circuit panel ruled.

  • February 09, 2024

    Colo. Ballot Law Violates Free Speech, Group Tells 10th Circ.

    Parts of Colorado's state-mandated titles for proposed ballot initiatives to cut taxes are inaccurate and would significantly impair a conservative group's ability to communicate with voters, violating its First Amendment rights, the group told the Tenth Circuit.

  • February 09, 2024

    Jordan Calls For Investigation Into DOJ's Deal With IRS Leaker

    House Judiciary Committee Chairman Jim Jordan is investigating whether federal prosecutors were politically motivated to allow the former IRS contractor who leaked former President Donald Trump's tax returns to plead guilty to a single count of illegal disclosure, calling the arrangement "a sweetheart deal."

  • February 09, 2024

    Former Moritt Hock Atty Joins Forchelli As Partner

    Forchelli Deegan Terrana LLP has added a law school professor and former associate at Moritt Hock & Hamroff LLP as a partner to its tax, trusts and estates practice group, the New York firm announced.

  • February 09, 2024

    Taxation With Representation: Sullivan & Cromwell, Kirkland

    In this week's Taxation With Representation, California Resources Corp. acquires Aera Energy, ZeroFox Holdings goes private, and Acerinox purchases Haynes International.

  • February 08, 2024

    Ex-BigLaw Atty Tells Jury LaPierre Didn't Control NRA Board

    A former BigLaw partner was the latest National Rifle Association board member to testify in defense of the gun rights group at the New York attorney general's fraud trial, telling jurors Thursday that it's "just not true" that longtime CEO Wayne LaPierre had full power over NRA decisionmaking.

  • February 08, 2024

    AgileThought Gets Initial OK For Rolling Ch. 11 Dismissals

    Technology firm AgileThought Inc. can dismiss 19 of 32 consolidated Chapter 11 cases, a Delaware bankruptcy judge ruled Thursday, adding that she wanted to make sure all administrative creditors had some form of notice before she signed off on a process for future dismissals.

  • February 08, 2024

    School Board Tells Ohio Justices Tax Appeal Not Time-Barred

    An Ohio law barring third-party challenges to property valuations does not apply retroactively, a school board told the Ohio Supreme Court, urging it to uphold a ruling allowing its challenge to a valuation of an apartment complex to continue.

  • February 08, 2024

    Minn. Lake Properties Should Be Valued Together, Court Says

    A Minnesota lakefront parcel of land should be valued together with a neighboring developed parcel because the two have a symbiotic relationship, the state's tax court ruled.

  • February 08, 2024

    Esurance Pockets Totaled Vehicles' Sales Tax, Suit Says

    Auto insurer Esurance stole from customers by routinely failing to cover sales tax on totaled vehicles, a policyholder said in a proposed class action filed in New York federal court.

Expert Analysis

  • 5 Litigation Funding Trends To Note In 2024

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    Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.

  • Tech CEO Tax Ruling A Warning For Forward Contracts

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    In McKelvey v. Commissioner, the U.S. Tax Court decided that deceased Monster.com founder Andrew McKelvey terminated his underlying obligations when he extended variable prepaid forward contracts, demonstrating why startup founders, early employees and investors should think carefully before amending derivative agreements, say Daren Shaver and Trent Tanzi at Hanson Bridgett.

  • 4 Legal Ethics Considerations For The New Year

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    As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.

  • What The Law Firm Of The Future Will Look Like

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    As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • 4 PR Pointers When Your Case Is In The News

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    Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.

  • Unpacking The Proposed Production Tax Credit Regulations

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    Recently proposed tax regulations for claiming the U.S. clean-energy manufacturers' production credit under Internal Revenue Code Section 45X are less stringent than many had feared but fail to define a fundamental eligibility requirement, say Casey August and Jared Sanders at Morgan Lewis.

  • 10 Considerations For Litigating A New York Tax Case

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    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.

  • Charting The Course For Digital Assets In 2024

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    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.

  • Law Firm Strategies For Successfully Navigating 2024 Trends

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    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.

  • The Most-Read Legal Industry Law360 Guest Articles Of 2023

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    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.

  • Attorneys' Busiest Times Can Be Business Opportunities

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    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.

  • In The World Of Legal Ethics, 10 Trends To Note From 2023

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    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.

  • How Attorneys Can Be More Efficient This Holiday Season

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    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.

  • Series

    Children's Book Writing Makes Me A Better Lawyer

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    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.

  • 5 Traps To Avoid When Selling CRE In Las Vegas Area

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    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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