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Tax
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May 08, 2025
Ind. Allows Credit For Taxes Paid On Behalf Of Pass-Throughs
Indiana authorized electing pass-through entities to claim a credit for taxes paid on their behalf under a bill signed by the governor.
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May 08, 2025
Brazilian Grocer Seeks Tax Arbitration With Former Parent Co.
Brazilian food retailer GPA said it has requested arbitration against its largest shareholder and former parent, French retailer Groupe Casino, over a dispute regarding tax payments going back over a decade.
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May 08, 2025
EU Weighs Tariffs, Restrictions On $112B Of US Trade
All options remain on the table for the European Commission as it aims to finalize plans by mid-July to tariff or restrict nearly €100 billion ($112 billion) worth of trade with the U.S., a commission spokesperson told Law360 on Thursday as the bloc launched a consultation.
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May 08, 2025
Milbank Hires King & Spalding Tax Planning Atty In DC
Milbank LLP has added a former King & Spalding LLP tax attorney as a partner in its global project, energy and infrastructure finance group in Washington, D.C.
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May 08, 2025
Ala. Legislature OKs TCJA Research Expense Decoupling
Alabama would decouple from the Tax Cuts and Jobs Act by allowing research expenses to be deducted from a taxpayer's income under a bill sent to the governor.Â
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May 08, 2025
Tenn. Hotel Operators To Stop Collecting Tax After 30 Days
Tennessee will require hotel operators to stop collecting occupancy taxes from people who stay for more than 30 days under a bill signed by the governor.
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May 07, 2025
Calif. Tribe Says State's Overcharges Void Gaming Compact
A California tribe is asking a federal court to declare that its gaming compact is unenforceable, arguing that it has paid millions more into special funding programs than the state's actual annual cost of regulating its Class III gaming operations.
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May 07, 2025
Bessent Defends Cuts To Community Fund Amid Scrutiny
U.S. Treasury Secretary Scott Bessent on Wednesday defended the Trump administration's proposal to significantly slash the fund that operates the new markets tax credit, which is meant to boost investment in poor communities, telling lawmakers that a new $100 million program would better support affordable financing in rural areas.
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May 07, 2025
China Economic Official To Ask US For U-Turn On Tariffs
China's top economic official will ask the U.S. to reverse course on its tariffs while meeting with Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer this weekend in Switzerland, China's Ministry of Commerce said Wednesday.
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May 07, 2025
Woman Settles FBAR Case Over Russian, French Accounts
A Rhode Island woman has resolved a case by the government alleging that she failed to disclose her Russian and French bank accounts, agreeing to a penalty of almost $89,000 plus interest and late payment penalties.
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May 07, 2025
Colo. Lawmakers OK Keeping Taxes On Overtime
Overtime income would remain subject to Colorado state income tax even if exempted at the federal level under legislation passed Wednesday by lawmakers that also limits the state's enterprise zone tax credit and makes other tax changes.
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May 07, 2025
Feds Seek 13 Years In Avenatti's California Resentencing
California federal prosecutors asked a judge Wednesday to sentence Michael Avenatti to 160 months in prison for tax fraud and stealing from clients, to be served atop the five-year term imposed in a pair of New York cases where Avenatti was convicted of trying to extort Nike Inc. and defrauding former client Stormy Daniels.
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May 07, 2025
6th Circ. Skeptical Of US In Tax Court Deadline Case
Sixth Circuit judges expressed skepticism of the U.S. government's claim that the 90-day deadline to petition the U.S. Tax Court is inflexible, with one judge saying during oral arguments Wednesday in a woman's case challenging the rule that the U.S. Supreme Court seemed to back her.
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May 07, 2025
Device Seller Asks For Probation In $2.4M Tax Evasion Case
The septuagenarian owner of a Florida medical device company who pled guilty to evading $2.4 million in taxes asked a federal district court Wednesday for his sentence to entail home probation and not prison, given his health challenges and payments he already made to the Internal Revenue Service.
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May 06, 2025
Fed. Circ. Agrees Plane Taxability Patent Doesn't Fly
The Federal Circuit on Tuesday refused to revive an Ohio company's patent that covers using Federal Aviation Administration data to determine "the taxability status of aircraft," agreeing that it covered subject matter that isn't patentable.
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May 06, 2025
Pa. House OKs Pot Legalization Bill With State-Run Shops
Pennsylvania's House of Representatives approved on Tuesday a Democrat-backed bill to legalize recreational adult-use marijuana and regulate its sale through state-run stores.
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May 06, 2025
Tax Court Erred In Slashing $23M Easement, 11th Circ. Told
A partnership told the Eleventh Circuit that the U.S. Tax Court erred in substantially reducing its claim to a $23 million conservation easement tax deduction, arguing the decision was tainted by error-riddled criteria used by the IRS to value the property.
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May 06, 2025
Trump Announces Mo., DC Judicial Nominations
President Donald Trump on Tuesday announced via Truth Social a slew of judicial nominees for Missouri and the District of Columbia.
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May 06, 2025
Actor Voight, Film Biz Adviser To Trump, Floats Tax Incentives
Actor Jon Voight, whom President Donald Trump tapped as an adviser on the Hollywood film industry, told Trump that tax incentives, international treaties and limited tariffs could revitalize production, while California Gov. Gavin Newsom separately floated a $7.5 billion federal film tax credit, according to statements shared Tuesday with Law360.
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May 06, 2025
Stationery Co. Fights Bid To Move Tariff Case To Trade Court
The U.S. Court of International Trade does not have exclusive jurisdiction to hear disputes over President Donald Trump's global tariffs, a stationery company told a Florida federal court Monday in opposing the administration's bid to transfer to the suit.
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May 06, 2025
Bessent Eyes IRS' Technology Budget For Major Cuts
The Internal Revenue Service must cut its bloated technology budget and decrease the agency's overall spending, U.S. Treasury Secretary Scott Bessent told a House Appropriations panel Tuesday.
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May 06, 2025
Eversheds Sutherland Brings On EY Tax Pro In Atlanta
Eversheds Sutherland has added a former EY senior manager of international tax and transaction services to its Atlanta office, further strengthening its tax practice after adding a dozen tax controversy attorneys from Chamberlain Hrdlicka White Williams & Aughtry PC in March, the firm announced Tuesday.
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May 06, 2025
4th Circ. Seems Split On BofA's Post-Merger Tax Offset Claims
The Fourth Circuit seemed split Tuesday on whether Bank of America should be able to use its tax overpayments to offset interest on tax underpayments by companies that merged into it, with one judge pressing the government to respond to what he described as the bank's "common sense" argument in the $163 million case.
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May 06, 2025
ND Provides Tax Credit For Employer Child Care Contributions
North Dakota established an income tax credit for employers that help pay for their employees' child care costs under a bill signed by the governor.
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May 05, 2025
Credit Suisse To Pay Feds $510.6M For Helping Hide Assets
Credit Suisse Services AG has agreed to shell out more than $510 million under agreements with federal prosecutors in which the company admitted to helping customers hide more than $4 billion from the IRS in hundreds of offshore accounts, the U.S. Department of Justice announced Monday.
Expert Analysis
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Opinion
We Must Allow Judges To Use Their Independent Judgment
As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.
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Preparing For Tariffs On Canadian Power In The Northeast
The on-again, off-again risk of import and export tariffs on energy transactions between the U.S. and Canada may have repercussions for U.S. energy stakeholders in the ISO New England and New York Independent System Operator electricity markets — but there are options that could help reduce cost impacts, say attorneys at Husch Blackwell.
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Series
Performing Stand-Up Comedy Makes Me A Better Lawyer
Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.
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Series
Adapting To Private Practice: From SEC To BigLaw
As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.
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Making The Case For Rest In The Legal Profession
For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.
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Mitigating Tariff Risks For Healthcare In US And Canada
Healthcare stakeholders should take steps to evaluate the impact of cross-border tariffs, as the historically strong ties between Canada and the U.S. demonstrate the potential for real disruption and harm to the healthcare industry in both countries, say attorneys at Norton Rose.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.
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A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.
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Why NY May Want To Reconsider Its LLC Transparency Law
Against the backdrop of the myriad challenges to the federal Corporate Transparency Act, it may be prudent for New York to reconsider its adoption of the LLC Transparency Act, since it's unclear whether the Empire State's "baby-CTA" statute is still necessary or was passed prematurely, say attorneys at Pillsbury.
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IRS Scrutiny May Underlie Move Away From NIL Collectives
The University of Colorado's January announcement that it was severing its partnership with a name, image and likeness collective is part of universities' recent push to move NIL activities in-house, seemingly motivated by tax implications and increased scrutiny by the Internal Revenue Service, say attorneys at Buchanan Ingersoll.
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Opinion
State FCAs Should Cover Local Fund Misuse, State Tax Fraud
New Jersey and other states with similar False Claims Acts should amend them to cover misappropriated municipal funding, and state and local tax fraud, which would encourage more whistleblowers to come forward and increase their recoveries, says Kenneth Levine at Stone & Magnanini.
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.
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White Collar Archetypes: Wrangling The Shape-Shifter
In white collar criminal trials, certain pieces of evidence can shape-shift in the jury’s eyes, presenting both challenges and opportunities for defense counsel, says Jack Sharman at Lightfoot Franklin.
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Series
Playing Beach Volleyball Makes Me A Better Lawyer
My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.
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Opinion
IRS Should Revise Overbroad Microcaptive Regs
Rather than seeking to curtail use of congressionally sanctioned microcaptive insurance programs by imposing burdensome disclosure obligations, the Internal Revenue Service should revisit its recently finalized regulations and implement rules tailored to address areas of specific abuse, say attorneys at Zerbe Miller.