Tax

  • January 30, 2024

    Spencer Fane Adds Tampa Tax Partner From Gunster

    Spencer Fane LLP has added a partner focused on corporate and tax matters from Florida firm Gunster to its Tampa office.

  • January 30, 2024

    Employee Faking Invoices Can Be Liable For VAT, ECJ Says

    A Polish fuel seller's employee using her company's details without its consent to issue fraudulent value-added tax receipts can be held liable for paying the VAT, provided that the company took appropriate anti-fraud measures, the European Court of Justice ruled Tuesday.

  • January 29, 2024

    Insurer-Backed Docs Must Show Tax Records For Bias Check

    A split Michigan appellate court panel has said a car crash victim seeking coverage for his injuries can force the medical examiners hired by his insurer to turn over tax documents, finding the records are relevant to determine potential bias that couldn't be discovered otherwise.

  • January 29, 2024

    LaPierre Takes Some Blame, Backing NRA's 'Victim' Defense

    Former longtime National Rifle Association CEO Wayne LaPierre told jurors in the New York attorney general's fraud trial Monday that he failed to tell the NRA board about certain private jet spending and vendor relationships, aligning with the gun group's defense that it was in the dark about his wrongdoing.

  • January 29, 2024

    H&R Block Inks $1.6M Deal With LA City Atty Over Free Filing

    H&R Block has agreed to pay $1.6 million to settle accusations it unfairly charged tens of thousands of taxpayers who were eligible to file federal tax returns for free by directing them toward its paid online commercial products, the Los Angeles city attorney announced Monday.

  • January 29, 2024

    Minn. Tax Court Affirms Properties' Recreation Classification

    Two Minnesota properties were correctly classified by a local assessor as noncommercial seasonal recreational properties, the state tax court ruled, saying the owners did not identify evidence of misclassification.

  • January 29, 2024

    Trump Assails Fraud Monitor For 'Misleading' Final Report

    Counsel for former President Donald Trump denounced the independent monitor overseeing his businesses on Monday, accusing her of seeking to extend her term and get more money by bolstering the New York attorney general's civil fraud case as a decision looms.

  • January 29, 2024

    Tax Group Of The Year: Sullivan & Cromwell

    Sullivan & Cromwell LLP's tax practice advised Abiomed on the tax aspects of its acquisition by Johnson & Johnson in the largest medtech deal in history last year, earning the firm a spot among Law360's 2023 Tax Groups of the Year.

  • January 29, 2024

    EU Member States Extend Sanctions Against Russia

    The European Union decided to roll over existing economic sanctions against Russia because of its war against Ukraine for another six months until July 31, the council of member countries said Monday. 

  • January 29, 2024

    IRS Worker Gets 5 Years For Airing Tax Info On Trump, Others

    A former IRS contractor who copped to stealing the tax returns of thousands of wealthy people, including former President Donald Trump, and leaking them to the media will serve five years in prison.

  • January 26, 2024

    Trump Org. Monitor Flags Financial 'Errors' As Ruling Looms

    An independent monitor overseeing the Trump Organization's finances amid the New York attorney general's civil fraud suit reported Friday she found multiple errors and misstatements in disclosures sent to third-party lenders, including underreporting the organization's liabilities by millions of dollars and hiding $40 million recently sent directly to the former president.

  • January 26, 2024

    2 Business Owners Get Jail Time For Bribing DC Tax Official

    A concert operator and a bar owner have been hit with sentences of two years or longer in the District of Columbia for participating in separate conspiracies focused on evading business tax obligations via bribes to a former employee of the D.C. Office of Tax and Revenue.

  • January 26, 2024

    Mich. Justices To Hear Disney, Eatery Group's Escheat Fight

    The Michigan Supreme Court agreed Friday to review a lower court's finding that audits that the state Department of Treasury initiated against Disney and a restaurant company paused the statute of limitations for the agency to demand that the businesses turn over unclaimed property to the state.

  • February 08, 2024

    Law360 Seeks Members For Its 2024 Editorial Boards

    Law360 is looking for avid readers of its publications to serve as members of its 2024 editorial advisory boards.

  • January 26, 2024

    Don't Tax Broadband Deployment Money, Telecom Groups Say

    A group of telecommunications trade associations are asking Congress to grant their members tax breaks for broadband deployment costs, saying that without the proposed legislation, money intended to help bring broadband to currently out-of-reach households would return to the government in tax payments.

  • January 26, 2024

    Ex-LA Pol Huizar Gets 13 Years For Taking Bribes, Tax Evasion

    A California federal judge sentenced former Los Angeles City Councilor Jose Huizar to 13 years in prison Friday for a yearslong "pay-to-play" scheme that raked in nearly $2 million in bribes from developers in return for approving projects, describing his conduct as "outrageous" and criticizing the politician for showing little remorse.

  • January 26, 2024

    Kansas Gov. Vetoes Flat Tax, Pushes Grocery Tax Cut

    The Kansas governor vetoed a bill Friday that would have created a flat income tax rate of 5.25% beginning in 2025, saying the bill was not fiscally responsible.

  • January 26, 2024

    Bipartisan Tax Break Bill Faces Rocky Road To Passage

    A bipartisan tax bill that quickly cleared the House's tax panel faces a tumultuous path forward in the full chamber, where Speaker Mike Johnson, R-La., needs to either have robust bipartisan support to pass the bill or risk opening it up to changes.

  • January 26, 2024

    Tax Group Of The Year: Mayer Brown

    Mayer Brown LLP secured local and global victories in 2023, from a Washington state appellate court's decision in a novel sales tax case to an energy company's $307 million merger resulting in a business with an Africa exploration and production focus, earning the firm a spot among Law360's Tax Groups of the Year.

  • January 26, 2024

    EU Defends Latest Economic Sanctions Against Russia

    The European Union on Friday defended its new round of economic sanctions to be imposed on Russia against claims from the Kremlin that all EU sanctions are illegal and harm Europe and the world.

  • January 26, 2024

    Md. Senate Bill Seeks Switch To Regional Tax Assessors

    Maryland would eliminate county assessment offices in favor of eight regional offices under legislation introduced in the state Senate.

  • January 25, 2024

    US Fights Trustee's Demand Of Avenatti's Tax Return Info

    The U.S. government asked a California federal judge Thursday to allow it to appeal a bankruptcy court's decision ordering disgraced attorney Michael Avenatti's tax returns to be released to the trustee overseeing the estate of Eagan Avenatti LLP's bankruptcy, arguing that disclosing them undermines Congress' interest in protecting the confidentiality of the information.

  • January 25, 2024

    Mass. Tax Panel Says Homeowner Didn't Show Overvalue

    A homeowner's use of comparable assessments failed to reach the level of evidence needed to overturn a local valuation of his property for property tax purposes in an opinion released Thursday.

  • January 25, 2024

    John Hancock Clients Owed Tax Credit Perk, 11th Circ. Told

    John Hancock Life Insurance Co. clients urged an Eleventh Circuit panel on Thursday to reverse a lower court's ruling that the company didn't breach a fiduciary duty when $100 million worth of foreign tax credits wasn't passed through to them, saying the transaction diminished the value of their retirement accounts.

  • January 25, 2024

    Philly Cheesesteak Shop Owners Get Prison For Tax Evasion

    The father-son duo behind the famous Tony Luke's cheesesteak restaurant in South Philadelphia were each sentenced to 20 months in prison Thursday for what prosecutors said was a decadelong tax evasion scheme that included keeping false ledgers and paying employees under the table.

Expert Analysis

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • While Risks Exist, AI Could Transform IRS Enforcement

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    The Internal Revenue Service's recently announced use of artificial intelligence could revolutionize the agency's enforcement efforts, and transparency about its use and a forum for challenging AI findings could help mitigate fears that the technology will increase bias, say attorneys at Lewis Brisbois.

  • AGs' Distaste For Food Bill May Signal Other State Issues

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    States' recent opposition to a proposed federal law that would block them from regulating out-of-state agricultural production could affect issues beyond this narrow debate, such as the balance of state and federal regulatory power, reproductive rights post-Dobbs, and energy production and water use, say Christopher Allen and Stephen Cobb at Cozen O'Connor.

  • Strategic Succession Planning At Law Firms Is Crucial

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    Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

  • Maximizing Law Firm Profitability In Uncertain Times

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    As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.

  • 5th Circ. Ruling Reminds Attys That CBP Can Search Devices

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    The Fifth Circuit’s recent Malik v. Department of Homeland Security decision adds to the chorus of federal courts holding that border agents don’t need a warrant to search travelers’ electronic devices, so attorneys should consider certain special precautions to secure privileged information when reentering the U.S., says Jennifer Freel at Jackson Walker.

  • Enforcement Of International Tax Reporting Is Heating Up

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    Since the U.S. Supreme Court’s February decision in Bittner v. U.S. changed how penalties for failure to report offshore accounts are calculated, recent developments suggest the government is preparing to step up enforcement and vigorously pursue the collection of resulting penalties, say Daniel Silva and Agustin Ceballos at Buchalter.

  • How Gov't Agencies Will Fare In The Event Of A Shutdown

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    With a federal shutdown potentially set to begin at the end of this month, it may be useful to consider the approximate timelines that agencies such as the Federal Trade Commission and IRS have announced for curtailing operations, and potential strategies for mitigating challenges that may arise while agency functions are limited, say attorneys at Cleary.

  • Avoiding The Ethical Pitfalls Of Crowdfunded Legal Fees

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    The crowdfunding of legal fees has become increasingly common, providing a new way for people to afford legal services, but attorneys who accept crowdsourced funds must remember several key ethical obligations to mitigate their risks, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • 4 Pharma Industry Arguments Against CMS Drug Pricing Plan

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    The Centers for Medicare & Medicaid Services is facing significant pushback regarding its plans for implementing the Inflation Reduction Act's Medicare drug price negotiation program, due to a number of potential repercussions for manufacturers, say attorneys at Mintz Levin.

  • IRS Notice Clarifies R&E Amortization, But Questions Remain

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    The IRS and Treasury Department’s recent notice clarifying the treatment of specified research and experimental expenditures under Section 174 provides taxpayers and practitioners with substantive guidance, but it misses the mark in delineating which expenditures are amortizable, say attorneys at Eversheds Sutherland.

  • Preparing Your Legal Department For Pillar 2 Compliance

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    Multinational entities should familiarize themselves with Pillar Two of the Organization for Economic Cooperation and Development’s BEPs 2.0 project and prepare their internal legal tracking systems for related reporting requirements that may go into effect as early as January, says Daniel Robyn at Ernst & Young.

  • What Large Language Models Mean For Document Review

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    Courts often subject parties using technology assisted review to greater scrutiny than parties conducting linear, manual document review, so parties using large language models for document review should expect even more attention, along with a corresponding need for quality control and validation, say attorneys at Sidley.

  • Series

    Participating In Living History Makes Me A Better Lawyer

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    My role as a baron in a living history group, and my work as volunteer corporate counsel for a book series fan association, has provided me several opportunities to practice in unexpected areas of law — opening doors to experiences that have nurtured invaluable personal and professional skills, says Matthew Parker at the Nebraska Department of Health and Human Services.

  • Opinion

    Private Equity Owners Can Remedy Law Firms' Agency Issues

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    Nonlawyer, private-equity ownership of law firms can benefit shareholders and others vulnerable to governance issues such as disparate interests, and can in turn help resolve agency problems, says Michael Di Gennaro at The Law Practice Exchange.

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