Tax

  • February 02, 2024

    Md. Bill Seeks Property Tax Credits For Residential Projects

    Maryland would allow local governments to grant property tax credits for certain hotel and residential developments with the requirement that larger developments include affordable housing under legislation introduced in the state House of Delegates.

  • February 02, 2024

    Md. Bill Would Allow Tax Hikes On Vacant Property

    Local governments in Maryland that levy property taxes could set special rates for improved residential properties that are vacant or unfit for habitation under legislation introduced in the state House of Delegates.

  • February 01, 2024

    Kemp Klein Brings On Tax Attorney From Foster Swift

    Kemp Klein Law Firm said Thursday that it added a shareholder to its team who was formerly with Foster Swift Collins & Smith PC and counsels clients in tax planning.

  • February 01, 2024

    IRS Violated Rights In Coinbase Doc Seizure, 1st Circ. Told

    The IRS violated an investor's property rights when it seized his financial records from the cryptocurrency exchange Coinbase, he told the First Circuit on Thursday, saying the government defended the violation by wrongly focusing on what it claims are the investor's lack of privacy protections.

  • February 01, 2024

    India Budget Includes Abrupt End Of Manufacturing Tax Break

    India plans to allow its reduced corporate income tax rate for manufacturing facilities to sunset in April in an unexpected move, while seeking extensions to tax holidays for startups and sovereign wealth funds, attorneys told Law360 on Thursday about the government's interim budget.

  • February 01, 2024

    Conn. Supreme Court Snapshot: Sleepy Juror, Surprise Billing

    A gang member's murder conviction should be overturned because a juror was caught sleeping and the judge took no action to determine if he was still competent to serve, according to an appeal that the Connecticut Supreme Court will hear in its upcoming term. Here are three cases to watch as the term gets started Monday.

  • February 01, 2024

    Ex-Trump Org. CFO Faces Possible Perjury Charge, Mulls Plea

    Donald Trump's longtime top financial officer Allen Weisselberg is in plea negotiations related to potential perjury charges stemming from his testimony in the New York attorney general's civil fraud trial, according to a source familiar with the matter.

  • February 01, 2024

    Justices Asked To Stop Trustee From Recovering Taxes

    The federal government asked the U.S. Supreme Court to stop the bankruptcy trustee of a Utah company from being allowed to recoup federal tax payments, saying the issue is the subject of a growing circuit split and stands to deplete the federal purse illegally.

  • February 01, 2024

    EU Leaders Slow Plan To Use Frozen Russian Assets

    European Union leaders reined in the bloc's rush to use frozen and immobilized Russian state assets for the reconstruction of Ukraine, as leaders from Germany, France and Italy called for caution Thursday.

  • February 01, 2024

    NYC Music Venue Gets 'Last Shot' At Ch. 11 Reorg

    A New York bankruptcy judge Thursday gave a New York City music venue what he said was one last chance to get caught up on its state and federal back taxes before it faces a conversion of its Chapter 11 reorganization to a liquidation.

  • February 01, 2024

    Duet Group Co-Founder Gets Nearly 5-Year Cum-Ex Sentence

    The co-founder of the London-based Duet Group investment firm received a nearly five-year jail sentence for crimes related to so-called cum-ex activities following a trial in Germany, a person familiar with the verdict confirmed to Law360 on Thursday.

  • January 31, 2024

    House Sends Bipartisan Tax Break Package To Senate

    The House of Representatives passed a bipartisan bill Wednesday night that would extend the full tax break for research and development costs and expand the child tax credit for multiple years, sending the deal to the Senate for consideration.

  • January 31, 2024

    Mich. Justices Send Tax Cut Duration Fight To Appeals Court

    The Michigan Supreme Court declined Wednesday to directly review a group of taxpayers' appeal of a judge's ruling that a 2023 personal income tax cut was only temporary, but it ordered the state Court of Appeals to rule on the case within six weeks.

  • January 31, 2024

    FTX Can Estimate Digital Claims In US Dollars, Judge Says

    Bankrupt cryptocurrency exchange FTX Trading Ltd. can estimate the value of digital asset claims of customers in U.S. dollars after a Delaware judge said Wednesday that conducting individual valuations of each claim would be costly and time-consuming.

  • January 31, 2024

    Feds Urged To Adopt EV Battery Tracing For Tax Credit Rules

    A mechanism to trace the source of battery materials in electric vehicles would help enforce manufacturers' compliance with the domestic content requirements that are now linked to the EV consumer tax credit, stakeholders told U.S. Treasury Department and IRS officials Wednesday.

  • January 31, 2024

    Ex-Ga. Tech Prof Gets Home Confinement For Tax Fraud

    A former Georgia Institute of Technology professor was sentenced to a year of home confinement and three years' probation on Wednesday for shirking hundreds of thousands of dollars in federal taxes by inflating his charitable deductions through a scheme involving Chinese nationals' donations to the university.

  • January 31, 2024

    Calif. Says FDIC Owes Signature Bank's Unpaid Taxes

    California's state tax collection agency asked a New York federal court to force the Federal Deposit Insurance Corp. to pay five years' worth of unpaid taxes on behalf of the shuttered Signature Bank, saying the FDIC is responsible for the debt as the bank's receiver.

  • January 31, 2024

    Treasury Aims To Finish Credit Monetization Rules In 2024

    The U.S. Department of the Treasury aims to issue final rules this year on two new ways to monetize tax credits tied to clean energy construction projects, known as the direct pay and transferability methods, an official said.

  • January 30, 2024

    Timber Co. Says Seller 'Twisting' Words In Carbon Offset Fight

    A New Hampshire-based timber company has told a North Carolina court that an investment firm specializing in forestland is "twisting" words in an attempt to escape claims that it overvalued the carbon offset of a property by about $1 million.

  • January 30, 2024

    Holtec, Firm Fined $5M Over NJ Tax Credit Applications

    A New Jersey-based energy technology company and a real estate firm are avoiding criminal prosecution for unlawfully exploiting a state tax incentive program by agreeing to pay $5 million in penalties and be monitored in future applications for state benefits, the state attorney general announced Tuesday.

  • January 30, 2024

    NRA GC Says LaPierre Sidestepped Some Legal Approvals

    The general counsel of the National Rifle Association defended former CEO Wayne LaPierre as "very open and honest" during testimony in the New York attorney general's fraud trial Tuesday, but said LaPierre at times made consequential legal decisions without consulting him or the organization's board.

  • January 30, 2024

    Ashurst Brings On Specialist Funds Tax Partner

    Ashurst added a tax specialist from Arendt & Medernach to its Luxembourg office to strengthen the firm's presence in the country, Ashurst announced.

  • January 30, 2024

    Ga. Woman Gets 5 Years For Lying In Pandemic Fraud Case

    A Georgia tax preparer has been sentenced to five years in prison for lying to investigators as they looked into whether she obtained more than $550,000 in loans by submitting fraudulent applications for federal pandemic relief programs, federal prosecutors said in a statement Tuesday.

  • January 30, 2024

    Colo. Bill Seeks Tax Credit For Mortgage Rate Buy-Downs

    Colorado would allow an income tax credit for home sellers who finance mortgage rate buy-downs for the buyers of a property under a bill introduced in the state House of Representatives.

  • January 30, 2024

    Del. Justices Clarify Fee-Shifting In Public Interest Cases

    In a decision Tuesday offering guidance on attorney fee-shifting in public interest cases, Delaware's Supreme Court reversed a decision that awarded fees to nonprofit organizations that successfully challenged the use of outdated tax assessments in determining funding for the state's public schools.

Expert Analysis

  • Navigating Discovery Of Generative AI Information

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    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • How Fla. Bankruptcy Ruling May Affect Equity Owners

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    A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.

  • What Ariz. Ruling Means For Taxation Of Digital Services

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    The Arizona Supreme Court recently declined to review ADP v. Arizona Department of Revenue, letting stand a state appeals court's ruling that software as a service is a taxable rental of tangible personal property, essentially granting the department of revenue power to tax all digital services, say Karen Lowell and Pat Derdenger at Lewis Roca.

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

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    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • 1st Tax Easement Convictions Will Likely Embolden DOJ, IRS

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    After recent convictions in the first criminal tax fraud trial over allegedly abusive syndicated conservation easements, the IRS and U.S. Department of Justice will likely pursue other promoters for similar alleged conspiracies — though one acquittal may help attorneys better evaluate their clients' exposure, say Bill Curtis and Lauren DeSantis-Then at Polsinelli.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • Anticipating Intensified Partnership Enforcement From IRS

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    The Internal Revenue Service's decadeslong difficulties with partnership audits led to the recent announcement of a clear, well-funded, focused initiative, and businesses operating in the partnership form will feel the impact, with definite changes ahead, says Sharon Katz-Pearlman at Greenberg Traurig.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

  • Series

    Playing In A Rock Cover Band Makes Me A Better Lawyer

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    Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.

  • Series

    The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'

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    The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.

  • Opinion

    Newman Suspension Shows Need For Judicial Reform

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    The recent suspension of U.S. Circuit Judge Pauline Newman following her alleged refusal to participate in a disability inquiry reveals the need for judicial misconduct reforms to ensure that judges step down when they can no longer serve effectively, says Aliza Shatzman at The Legal Accountability Project.

  • EPA Report A Reminder That Fuel Credits Are 'Buyer Beware'

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    A recent report from the U.S. Environmental Protection Agency's Office of Inspector General is a reminder that fraud risk in the renewable fuel identification number market remains, and that purchasers are ultimately responsible for ensuring the validity of credits they buy, say David McIndoe and Nick Hillman at Eversheds Sutherland.

  • How And Why Your Firm Should Implement Fixed-Fee Billing

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    Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Opinion

    Judicial Independence Needs Defense Amid Political Threats

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    Amid recent and historic challenges to the judiciary from political forces, safeguarding judicial independence and maintaining the integrity of the legal system is increasingly urgent, says Robert Peck at the Center for Constitutional Litigation.

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