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Tax

  • April 24, 2025

    Silicon Valley Bank Liquidators Fight $41M Bill In Tax Court

    The trust responsible for liquidating assets of the shuttered Silicon Valley Bank told the U.S. Tax Court that the IRS has wrongly charged the bank's operator more than $41 million in additional taxes by claiming it didn't substantiate losses and research activities in the years leading up to its bankruptcy.

  • April 24, 2025

    Md. Authorizes Property Tax Breaks For Affordable Housing

    Maryland authorized county governments to exempt real property used for rental housing from local property taxes if the owner maintains a portion of the property as affordable housing and enters a payment-in-lieu-of-taxes agreement under legislation signed by the governor.

  • April 24, 2025

    Think Tank Says Tariffs Hit Lower-Income Workers Hardest

    President Donald Trump's tariffs currently being collected disproportionately harm lower- and middle-income earners in the U.S., according to an updated study by the Institute on Taxation and Economic Policy.

  • April 24, 2025

    Harvard Seeks To Move 'Swiftly' In $2B Fund Freeze Suit

    Harvard University is seeking to move as quickly as possible to get to the merits of its suit challenging the Trump administration's $2.2 billion funding freeze, asking a Massachusetts federal judge to expedite discovery and briefing.

  • April 24, 2025

    Tax Cos. Head To 9th Circ. Over IRS Worker Credit Denials

    Two tax assistance companies are appealing to the Ninth Circuit an Arizona federal court ruling denying their request to stop the IRS from issuing batch denials of thousands of pandemic-era worker credit claims, including those filed by their clients.

  • April 24, 2025

    Firm Fights IRS' $33M Boost To Self-Employment Income

    The Internal Revenue Service wrongly subjected nearly $33 million of a New York investment firm's income to self-employment taxes by disqualifying the firm's limited partners and taxing their distributions, it alleged in two U.S. Tax Court petitions.

  • April 23, 2025

    NY, 11 Other States Sue Trump Administration To Block Tariffs

    A dozen states are seeking to block tariffs the Trump administration imposed under the International Emergency Economic Powers Act, claiming in a lawsuit Wednesday the tariffs illegally constitute unprecedented tax hikes on Americans and violate constitutional separations of powers

  • April 23, 2025

    Russia Seeks Stay In $5B Award Stemming From Loan Dispute

    The Russian Federation asked a D.C. federal court to pause enforcing a $5 billion arbitration award compensating Yukos Capital for Russia's alleged expropriation of loans while litigation plays out in a U.S. Supreme Court case involving the jurisdiction of American courts over international arbitration agreements. 

  • April 23, 2025

    TurboTax Maker Fends Off H&R Block's False Ad Claims

    A California federal judge tossed H&R Block's claims that competing tax-preparation company Intuit duped its customers into buying its TurboTax product by falsely claiming an expert would review returns, saying H&R Block failed to show the expert review feature influenced customers' purchasing decisions.

  • April 23, 2025

    Trump Says 145% Tariffs On China Will Fall Significantly

    The U.S.' tariffs on China will end up nowhere near 145%, the current level for most Chinese goods, but they will not go away entirely, President Donald Trump said in the Oval Office.

  • April 23, 2025

    SCOTUSblog Sold Amid Goldstein's Criminal Case

    SCOTUSblog has been sold to digital media company The Dispatch, according to announcements from both publications Wednesday, marking a new chapter for the U.S. Supreme Court-focused legal publication while its co-founder Tom Goldstein faces criminal charges.

  • April 23, 2025

    Ariz. Bars Property Values Above Local Assessor Valuations

    Arizona barred county board rulings in property valuation disputes from exceeding the valuation determined by a local assessor under a bill signed by Gov. Katie Hobbs.

  • April 23, 2025

    Minn. Tax Court Slashes $5.5M From Warehouse Value

    A Minnesota warehouse property was overvalued by about $5.5 million, according to the state tax court, which used sales and income approaches and rounded downward to reflect its recent purchase price.

  • April 23, 2025

    Mo. Counties, State Argue For Cannabis Tax At High Court

    A county is a local government and should be allowed to impose a 3% additional sales tax on adult-use cannabis, two counties and the Missouri revenue director told the state Supreme Court.

  • April 23, 2025

    Judge Likely To Block Trump Collective-Bargaining Ban

    A D.C. federal judge appeared ready on Wednesday to block President Donald Trump's executive order threatening to strip as many as 100,000 federal employees of their collective bargaining power, saying the order seems to target unions because they've challenged his actions, not because of any purported national security justification.

  • April 23, 2025

    US Tariffs Will Slow Global Economic Growth, IMF Says

    The "abrupt increase" in U.S. tariffs has resulted in countermeasures and uncertainty that will significantly slow global economic growth, according to a report from the International Monetary Fund.

  • April 23, 2025

    Payroll Biz Exec Banned For 8 Years Over £2.5M Tax Fraud

    The boss of a defunct payroll company that failed to pay millions of pounds in value-added tax was banned as a director for eight years on Wednesday after a government investigation into the business' significant tax underpayments.

  • April 22, 2025

    Kan. Tribe Fights Sheriff's Authority In Tribal Jurisdiction Suit

    The Prairie Band Potawatomi Nation is disputing a county sheriff's bid in Kansas federal court to toss the Native American tribe's latest complaint in its suit claiming that he has repeatedly overstepped his authority by interfering with activities on reservation land.

  • April 22, 2025

    Justices Struggle To Grasp IRS Determination To Collect Debt

    U.S. Supreme Court justices struggled Tuesday to understand the significance of an IRS determination that compelled a woman to continue litigating a 2010 tax debt that the agency zeroed out while her suit in Tax Court was pending over the determination that she still owed taxes. 

  • April 22, 2025

    Montana Farmers Union Asks To Join Tribe's Anti-Tariff Suit

    The Montana Farmers Union wants to be included in a suit filed by members of the Blackfeet Nation challenging President Trump's tariffs on imports from Canada and abroad, arguing that the duties under scrutiny hurt the state's farmers the same way they hurt tribal members.

  • April 22, 2025

    Ark. Offers Credit For 50% Of New Payroll For HQ Relocations

    Arkansas created an income tax credit for businesses that relocate their corporate headquarters to the state equal to up to 50% of their payroll for qualifying employees under a bill signed by Gov. Sarah Huckabee Sanders.

  • April 22, 2025

    NJ AG Pushes To Revive RICO Case Against Power Broker

    New Jersey urged a state appellate court to revive its sprawling racketeering indictment against Garden State power broker George E. Norcross III, politically connected attorneys and others, arguing that the trial court undertook a review that doesn't exist in criminal practice.

  • April 22, 2025

    In Trump Standoff, Harvard Has Law And Money On Its Side

    With strong free-speech arguments and plenty of cash at its disposal, Harvard University appears better positioned than most Trump administration foes to win a high-stakes and closely watched showdown over threats to cut off funding, experts told Law360.

  • April 22, 2025

    Vance Says US, India Finalized Guidelines For Trade Talks

    Indian Prime Minister Narendra Modi and U.S. Vice President JD Vance have finalized the terms of reference for trade negotiations aimed at doubling bilateral trade by 2030, Vance said Tuesday.

  • April 21, 2025

    Churches Say Nonprofit Politics Ban Violates Speech Rights

    A group of churches and Christian advocacy groups asked a Texas federal court Monday to find that a provision of the Internal Revenue Code that prevents tax-exempt nonprofits from endorsing political candidates is unconstitutional because it violates their free speech rights.

Expert Analysis

  • Mentorship Resolutions For The New Year

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    Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.

  • Series

    Coaching Little League Makes Me A Better Lawyer

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    While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.

  • 5 Litigation Funding Trends To Note In 2025

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    Lawyers and their clients must be prepared to navigate an evolving litigation funding market in 2025, made more complicated by a new administration and the increasing overall cost of litigation, says Jeffery Lula at GLS Capital.

  • Rethinking Litigation Risk And What It Really Means To Win

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    Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.

  • How DOGE's Bite Can Live Up To Its Bark

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    All signs suggest that the Department of Government Efficiency will be an important part of the new Trump administration, with ample tools at its disposal to effectuate change, particularly with an attentive Republican-controlled Congress, say attorneys at K&L Gates.

  • Small Biz Caught In Corporate Transparency Act Crossfire

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    Despite compliance being put on hold due to a nationwide preliminary injunction, small businesses have been caught in the middle of the legal battle over the Corporate Transparency Act — and confusion over the law's requirements could result in major penalties, say attorneys at Snell & Wilmer.

  • 5 Notable Information Security Events In 2024

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    B. Stephanie Siegmann at Hinckley Allen discusses 2024's largest and most destructive data breaches seen yet, ranging from ransomware disrupting U.S. healthcare systems on a massive scale, to tensions increasing between the U.S. and China over cyberespionage and the control of U.S. data.

  • Series

    Playing Rugby Makes Me A Better Lawyer

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    My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.

  • Opinion

    No, Litigation Funders Are Not 'Fleeing' The District Of Del.

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    A recent study claimed that litigation funders have “fled” Delaware federal court due to a standing order requiring disclosure of third-party financing, but responsible funders have no problem litigating in this jurisdiction, and many other factors could explain the decline in filings, say Will Freeman and Sarah Tsou at Omni Bridgeway.

  • Hydrogen Regs Will Provide More Certainty — If They Survive

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    Newly finalized regulations implementing the Section 45V clean hydrogen tax credit allow producers more flexibility, and should therefore help put the industry on more solid footing — but the incoming Trump administration and Republican Congress will have multiple options for overturning or altering the regulations, say attorneys at Steptoe.

  • 5 E-Discovery Predictions For 2025 And Beyond

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    In the year to come, e-discovery will be shaped by new and emerging trends, from the adoption of artificial intelligence provisions in protective orders, to the proliferation of emojis as a source of evidence in contemporary litigation, say attorneys at Littler.

  • What's Ahead As Transparency Act Comes To A Crossroads

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    Synthesizing the contrasting federal district and appellate court rulings on the Corporate Transparency Act’s validity reveals several main areas of debate that will likely remain at issue as challenges to the law continue winding through the courts, say attorneys at Farella Braun.

  • Final Hydrogen Tax Credit Regs Add Flexibility For Producers

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    The recently released final regulations implementing the Inflation Reduction Act's clean hydrogen production tax credit offer taxpayers greater flexibility, reducing risk and creating more certainty for investments in the industry, thus diminishing — but not eliminating — the risk of legal challenges to the regulations, say attorneys at Steptoe.

  • 5 Evolving Concerns For Family Offices In 2025

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    Complex regulatory changes and emerging operational risks will force family offices to stay on their toes in 2025, with timely action particularly necessary to address several tax and reporting developments that may affect their investments and business operations, say attorneys at Morgan Lewis.

  • Series

    Illinois Banking Brief: All The Notable Legal Updates In Q4

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    While the last quarter of 2024 didn't bring any notable state financial legislation, Illinois banks did see developments in the challenge to the Interchange Fee Prohibition Act, and received some awaited guidance on credit line disclosures and bank-fintech relationships, say attorneys at Dykema.

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