Tax

  • 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.

  • January 25, 2024

    Loeb & Loeb Hires 20-Year McDermott Tax Partner In Chicago

    Loeb & Loeb LLP has hired a McDermott Will & Emery LLP partner who spent the past 20 years at the platform working on tax and estate planning matters, according to a Thursday announcement.

  • January 25, 2024

    Nationwide CPA Shortage May Spark Rise Of AI Accountants

    The nationwide shortage of certified public accountants, stemming from retirements and a decline in accounting majors enrolled in college, may hasten the integration of artificial intelligence into the profession, but seasoned tax experts are needed to lend their expertise and guide the new technology.

  • January 25, 2024

    Tax Group Of The Year: Eversheds Sutherland

    Eversheds Sutherland's tax practice earned key victories in 2023, including one for Fitzgerald Truck Parts and Sales LLC in a $400 million tax refund battle with the IRS and another for Verizon Communications in a fight with New York state over gross receipts taxes, landing it among Law360's 2023 Tax Groups of the Year.

  • January 25, 2024

    UK Tax Cuts Fiscally Risky, Think Tank Argues

    The U.K. government will have to reverse any tax cuts it takes now or make drastic public spending cuts in the near future, the Institute for Fiscal Studies, an influential think tank, said Thursday.

  • January 25, 2024

    Russia Hits Out At EU Over Latest Sanctions Move

    Russia has hit out against the European Union for preparing a 13th economic sanctions package against the Kremlin regime, claiming that the sanctions are illegal and harmful to Europe and the world.

  • January 24, 2024

    Trump Bristles At Shkreli Comparison In NY Civil Fraud Case

    Donald Trump on Wednesday took umbrage at New York Attorney General Letitia James comparing his civil fraud case to that of convicted "Pharma Bro" fraudster Martin Shkreli, saying it merely reveals "her desperation and obvious frustration" with the former president's "ongoing ascent toward the White House."

  • January 24, 2024

    ​​​​​​​NRA Obscured Expenses With Ad Agency's Aid, Jury Hears

    Ackerman McQueen's chief financial officer confirmed Wednesday that the advertising agency paid for certain expenses of the National Rifle Association and billed the gun rights group, a practice which the New York attorney general contends allowed the NRA to conceal payment of personal and undocumented expenses to its executives.

  • January 24, 2024

    IRS Wrongly Taxed Insurance Payout, Estate Tells Justices

    The Eighth Circuit wrongly allowed the IRS to tax a life insurance payout meant to maintain a family's control of its St. Louis building materials company, the estate of the company's deceased co-owner told the U.S. Supreme Court in an opening brief Wednesday.

  • January 24, 2024

    Dallas Bar Owner Accused Of Dodging Taxes For 30 Years

    A Dallas-area man evaded paying federal income tax for more than three decades, sold cocaine from bars and nightclubs he covertly owned and illegally laundered his drug money, according to U.S. prosecutors.

  • January 24, 2024

    Ohio GOP Lawmakers Float Axing Income, Receipts Taxes

    A group of Republican lawmakers in Ohio filed legislation to phase out the state's personal income tax and gross receipts tax on businesses, saying they are aiming to start the $13 billion tax cut plan in next year's biennial budget.

Expert Analysis

  • Prevailing Wage Rules Complicate Inflation Act Tax Incentives

    Author Photo

    Nicole Elliott and Timothy Taylor at Holland & Knight discuss the intersection between tax and labor newly created by the Inflation Reduction Act, and focus on aspects of recent U.S. Department of Labor and U.S. Department of the Treasury rules that may catch tax-incentive seekers off guard.

  • Law Firm Professional Development Steps To Thrive In AI Era

    Author Photo

    As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

  • Payroll Tax Evasion Notice Suggests FinCEN's New Focus

    Author Photo

    The Financial Crimes Enforcement Network’s recent notice advising U.S. financial institutions to report payroll tax evasion and workers' compensation schemes in the construction industry suggests a growing interest in tax enforcement and IRS collaboration, as well as increased scrutiny in the construction sector, say Andrew Weiner and Jay Nanavati at Kostelanetz.

  • The Basics Of Being A Knowledge Management Attorney

    Excerpt from Practical Guidance
    Author Photo

    Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.

  • Challenging Standing In Antitrust Classes: The Uninjured

    Author Photo

    In virtually every antitrust class action, parties at the certification phase disagree about whether the proposed class includes uninjured members, but the goals of Rule 23 and judicial economy are best served by synthesizing two distinct approaches circuit courts take on this issue, say Michael Hamburger and Holly Tao at White & Case.

  • How Taxpayers Can Prep As Justices Weigh Repatriation Tax

    Author Photo

    The U.S. Supreme Court might strike down the 2017 federal tax overhaul's corporate repatriation tax in Moore v. U.S., so taxpayers should file protective tax refund claims before the case is decided and repatriate previously taxed earnings that could become entangled in dubious potential Section 965 refunds, say Jenny Austin and Gary Wilcox at Mayer Brown.

  • To Hire And Keep Top Talent, Think Beyond Compensation

    Author Photo

    Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.

  • Perspectives

    More States Should Join Effort To Close Legal Services Gap

    Author Photo

    Colorado is the most recent state to allow other types of legal providers, not just attorneys, to offer specific services in certain circumstances — and more states should rethink the century-old assumptions that shape our current regulatory rules, say Natalie Anne Knowlton and Janet Drobinske at the University of Denver.

  • Identifying Trends And Tips In Litigation Financing Disclosure

    Author Photo

    Growing interest and controversy in litigation financing raise several salient concerns, but exploring recent compelled disclosure trends from courts around the country can help practitioners further their clients' interests, say Sean Callagy and Samuel Sokolsky at Arnold & Porter.

  • Opinion

    OFAC Designation Prosecutions Are Constitutionally Suspect

    Author Photo

    Criminal prosecutions based on the Office of Foreign Assets Control’s sanctions-related listing decisions — made with nearly unfettered discretion through an opaque process — present several constitutional issues, so it is imperative that courts recognize additional rights of review, say Solomon Shinerock and Annika Conrad at Lewis Baach.

  • The NIL Legislation Race: CAPCA And The PASS Act

    Author Photo

    Christina Stylianou and Gregg Clifton at Lewis Brisbois compare the College Athletes Protection and Compensation Act and the Protecting Athletes, Schools, and Sports Act — two of the latest bills introduced to federally regulate publicity rights for the name, image and likeness of college student-athletes.

  • What's Notable In Connecticut's New Cannabis Laws

    Author Photo

    The Connecticut Legislature recently passed four bills containing cannabis provisions — ranging from applicable tax credits to labor agreement requirements — that may prove to be a mixed bag for state operators, say Sarah Westby and Deanna McWeeney at Shipman & Goodwin.

  • Series

    The Pop Culture Docket: Judge Elrod On 'Jury Duty'

    Author Photo

    Though the mockumentary series “Jury Duty” features purposely outrageous characters, it offers a solemn lesson about the simple but brilliant design of the right to trial by jury, with an unwitting protagonist who even John Adams may have welcomed as an impartial foreperson, says Fifth Circuit Judge Jennifer Elrod.

  • NJ Justices Clarify Bribery Law Scope, But Questions Remain

    Author Photo

    The New Jersey Supreme Court’s recent State v. O'Donnell decision clarified that the state’s bribery law unambiguously applies to candidates for public office, but there are still unresolved questions about how the ruling may affect lobbyists, undeclared candidates and political speech, says Scott Coffina at Pietragallo Gordon.

  • 4 Business-Building Strategies For Introvert Attorneys

    Excerpt from Practical Guidance
    Author Photo

    Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Tax archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!