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Tax
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September 03, 2025
Calif. Senate Panel OKs Property Tax Break For Tribes
Native American tribes in California would be eligible for open space exemptions to property taxes under legislation approved by a state Senate panel that's heading for a final vote.
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September 03, 2025
UK Autumn Budget Set For November, Reeves Confirms
The U.K. government will announce its autumn budget in November, Chancellor of the Exchequer Rachel Reeves said Wednesday amid growing speculation that the government will raise taxes to cover the rising cost of borrowing.
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September 03, 2025
Texas Bill Would OK More Sales Tax For Property Tax Relief
Texas would allow local governments to impose supplemental sales and use tax to raise additional revenue for property tax relief if the sales and use tax is approved by voters under a bill introduced in the state House of Representatives.
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September 02, 2025
11th Circ. Affirms Slashing Ex-Braves' $47M Easement Break
A $47 million conservation easement deduction for a partnership founded by two former Atlanta Braves players was overvalued, the Eleventh Circuit affirmed Tuesday, saying none of the partnership's arguments undermined the U.S. Tax Court's finding that the easement property was worth far less than it claimed.
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September 02, 2025
Jury Misled On Tax Fraud Conspiracy Charge, 10th Circ. Rules
The Tenth Circuit overturned Tuesday a conviction against a man who did not report trust income on his personal tax returns, saying the New Mexico district court erred in presenting instructions on the conspiracy charges to both the jury and defendant's counsel.
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September 02, 2025
India Opens WTO Dispute Over US 50% Copper Tariff
India has initiated a dispute at the World Trade Organization over the U.S.' imposition of a 50% tariff on copper products, according to a request for consultations published Tuesday.
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September 02, 2025
Colorado Pipeline Co. Challenges $314M Property Valuation
Colorado assets of a petroleum pipeline company were wrongly valued by the state for property tax purposes at $314 million, the company said, challenging its valuation for at least the third straight year.
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September 02, 2025
Swiss Gold Refiners Reject US Move Over Tariffs
Swiss gold refiners will not be relocating to the U.S. following 39% tariffs announced by President Donald Trump this summer, according to Switzerland's largest metals group.
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September 02, 2025
Colgate-Palmolive To Shell Out $332M In Pension Payout Fight
Colgate-Palmolive retirees asked a New York federal judge to greenlight a $332 million class action deal in their suit claiming the household products company shorted them on lump-sum retirement payouts, signaling the end of a nearly decade-old case that reached the Second Circuit in 2023.Â
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September 01, 2025
EU Seeks Input On Emissions Cost In Carbon Border Rules
The European Union has opened a fresh consultation on how to refine the rules of the carbon border adjustment mechanism, including the cost of emissions.
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August 29, 2025
Bookie Who Took Bets From Ohtani Interpreter Gets 1 Year
A resident of Orange County, California, was sentenced to a year and a day in prison on Friday after pleading guilty to operating as an unlicensed bookmaker who placed bets for current and former professional athletes as well as a Japanese language interpreter who is serving time for stealing from baseball megastar Shohei Ohtani.
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August 29, 2025
House Dems Reintroduce Marijuana Legalization Bill Again
Democrats in the U.S. House of Representatives once again reintroduced a federal marijuana legalization bill that previously passed the chamber twice when it was under Democratic control, but has never gained traction in the U.S. Senate or under a majority-Republican House.
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August 29, 2025
UN Tax Committee Extends Deadline For Consultation
The United Nations' tax committee has extended a deadline for comments on its work priorities ahead of a session in October, the organization said Friday.Â
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August 29, 2025
UK Bank Shares Sink After Report Calls For Windfall Tax
Bank stocks sank Friday in the U.K. after a think tank said the government should adopt a windfall tax on profits directly tied to the Bank of England's quantitative easing program, which is costing HM Treasury about £22 billion ($30 billion) annually.
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August 29, 2025
EU Moves To Lift Tariffs As Part Of US Trade Deal
The European Commission has started the process of eliminating European Union tariffs on U.S. goods as part of its trade agreement with the U.S., the commission announced.
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August 29, 2025
NY Tenants Claim Cos. Hiked Rents, Abused Tax Exemption
A multifamily real estate company and a property owner were accused by a proposed class in New York state court of illegally raising rents for Long Island City residential tenants by taking advantage of the state's 421-a tax-exemption program.
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August 29, 2025
Apple Must Hand Swiss User's Records To IRS, Judge Rules
Apple must provide the Internal Revenue Service with a Swiss user's internet and phone records as part of a criminal investigation by Switzerland's taxing authority, a California federal judge ruled, despite the man's protests that the records are unrelated to taxes.
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August 29, 2025
Taxation With Representation: White & Case, Paul Weiss
In this week's Taxation With Representation, private equity firm Sycamore Partners completes its $24 billion acquisition of Walgreens Boots Alliance Inc., telecommunications company EchoStar sells wireless spectrum licenses to AT&T and Keurig Dr Pepper acquires JDE Peet's in a deal that aims to create a "global coffee champion."
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August 28, 2025
Illinois Atty Gets 2½ Years For Tax Fraud, Scripting Testimony
A former Chicago attorney who covered up $1 million in payments to his romantic interest and tried scripting his bookkeeper's initial trial testimony has been sentenced to two and a half years in prison, federal prosecutors announced Thursday.
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August 28, 2025
Hawaii Transient Tax Is Unconstitutional, Cruise Cos. Say
The extension of Hawaii's 11% transient accommodation tax to cruise ship passengers under a new law violates the U.S. Constitution, a group of cruise companies told a U.S. district court.
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August 28, 2025
UK Plastic Packaging Tax Revenue Dips As Exemptions Rise
The U.K. has collected slightly less revenue from its tax on plastic packaging over the past year as manufacturers have begun using more recycled materials to qualify for exemptions from the levy and imports have declined, HM Revenue & Customs said Thursday.
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August 28, 2025
Australia Aims To Cut 500 Nuisance Tariffs
The Australian government wants to eliminate around 500 of what are known as nuisance tariffs on goods like televisions, air conditioners, tires, glassware and various foods, expecting to save businesses AU$127 million ($83 million) annually in compliance costs, the Treasury said Thursday.
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August 28, 2025
Compliance Atty Who Duped Lender Wants New Trial
A compliance lawyer convicted of pilfering from a $20 million line of credit that a subsidiary of Emigrant Bank extended to his tax-lien business has asked a Manhattan federal judge to order a new trial, arguing that prosecutors' evidence is insufficient and that the charges were "multiplicitous," in violation of the Fifth Amendment.
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August 27, 2025
Ga. Justices Back Income Approach For Low-Income Housing
County tax assessors in Georgia may use a method known as the income approach to determine the fair market value of properties that qualify for federal low-income housing tax credits, the state Supreme Court ruled, reversing an appeals court finding.
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August 27, 2025
US Hits India With 50% Tariff For Buying Russian Oil
The U.S. began imposing a 50% tariff Wednesday on most goods from India, doubling the previous rate that President Donald Trump linked to the country's purchases of oil from Russia, according to a notice by U.S. Customs and Border Protection.
Expert Analysis
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8 Ways Lawyers Can Protect The Rule Of Law In Their Work
Whether they are concerned with judicial independence, regulatory predictability or client confidence, lawyers can take specific meaningful actions on their own when traditional structures are too slow or too compromised to respond, says Angeli Patel at the Berkeley Center of Law and Business.
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Despite Dark Clouds, Outlook For US Solar Has Bright Spots
While tariff, tax policy and bankruptcy news seemingly portends unending challenges for the U.S. solar energy industry, signs of continued growth in solar generating capacity and domestic solar manufacturing suggest that there is a path forward, say attorneys at Beveridge & Diamond.
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Series
Law School's Missed Lessons: Communicating With Clients
Law school curricula often overlook client communication procedures, and those who actively teach this crucial facet of the practice can create exceptional client satisfaction and success, says Patrick Hanson at Wiggam Law.
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Key Points From HMRC's Tax Reform Proposals
Although HM Revenue & Customs’ recent proposals for reform of U.K. transfer pricing and permanent establishment rules align with the latest international consensus, certain amendments may lead to future controversy, say lawyers at Skadden.
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Bill Leaves Renewable Cos. In Dark On Farmland Reporting
A U.S. Senate bill to update disclosure requirements for foreign control of U.S. farmland does not provide much-needed guidance on how to report renewable energy development on agricultural property, leaving significant compliance risks for project developers, say attorneys at Hodgson Russ.
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Series
Adapting To Private Practice: From US Rep. To Boutique Firm
My transition from serving as a member of Congress to becoming a partner at a boutique firm has been remarkably smooth, in part because I never stopped exercising my legal muscles, maintained relationships with my former colleagues and set the right tone at the outset, says Mondaire Jones at Friedman Kaplan.
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Opinion
IRS Should Work With Industry On Microcaptive Regs
The IRS should engage with microcaptive insurance owners to develop better regulations on these arrangements or risk the emergence of common law guidance as taxpayers with legitimate programs seek relief in the federal courts, says Dustin Carlson at SRA 831(b) Admin.
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What To Note As UK Adopts OECD Crypto Disclosure Rules
With the U.K.’s recent announcement that it will adopt the Organization for Economic Cooperation and Development's crypto-asset reporting framework, users and providers will benefit from understanding the context surrounding the decision and the framework's intended goal of clamping down on tax evasion, say lawyers at Brown Rudnick.
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CARES Act Fraud Enforcement Is Unlikely To Slow Down
In the five years since the passage of the Coronavirus Aid, Relief and Economic Security Act, the federal government has devoted massive resources to investigating CARES Act fraud — and all signs suggest the U.S. Department of Justice will continue vigorous enforcement in this area, say attorneys at Kostelanetz.
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Spinoff Transaction Considerations For Biotech M&A
Amid current market challenges, boards and management teams of biotech companies can consider several strategies for maximizing value should a spinoff opportunity arise, but not without significant advance planning and careful implementation, particularly in cases that might qualify as tax-free, say attorneys at Paul Hastings.
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Opinion
Senate's 41% Litigation Finance Tax Would Hurt Legal System
The Senate’s latest version of the Big Beautiful Bill Act would impose a 41% tax on the litigation finance industry, but the tax is totally disconnected from the concerns it purports to address, and it would set the country back to a time when small plaintiffs had little recourse against big defendants, says Anthony Sebok at Cardozo School of Law.
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Drawbacks For Taxpayers From Justices' Levy Dispute Ruling
The Supreme Court's June decision in Commissioner v. Zuch, holding the Tax Court lacks jurisdiction to resolve disputes where the IRS has stopped pursuing a levy, may require taxpayers to explore new tactics for mitigating the increased difficulty of appealing their liability via collection due process hearings, says Matthew Roberts at Meadows Collier.
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Series
Performing As A Clown Makes Me A Better Lawyer
To say that being a clown in the Macy’s Thanksgiving Day Parade has changed my legal career would truly be an understatement — by creating an opening to converse on a unique topic, it has allowed me to connect with clients, counsel and even judges on a deeper level, says Charles Tatelbaum at Tripp Scott.
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How Energy Cos. Can Prepare For Potential Tax Credit Cuts
The Senate Finance Committee's version of the One Big Beautiful Bill act would create a steep phaseout of renewable energy tax credits, which should prompt companies to take several actions, including conduct a project review to discern which could begin construction before the end of the year, say attorneys at Husch Blackwell.
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Series
Law School's Missed Lessons: Rejecting Biz Dev Myths
Law schools don’t spend sufficient time dispelling certain myths that prevent young lawyers from exploring new business opportunities, but by dismissing these misguided beliefs, even an introverted first-year associate with a small network of contacts can find long-term success, says Ronald Levine at Herrick Feinstein.