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Tax
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June 05, 2025
Texas Plastics Co. Challenges IRS Over Microcaptive Rules
A Texas plastics company sued the IRS over regulations flagging microcaptive insurance plans as potentially abusive tax avoidance schemes, telling a Texas federal court that the agency exceeded its authority by imposing broad disclosure requirements that could penalize even legitimate arrangements.
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June 05, 2025
Tenn. To Add New Tax To CBD And Delta-8 Products
Tennessee is set to impose a new wholesale tax structure on hemp-derived THC products, eliminating its 6% retail sales tax at the beginning of 2026, according to a notice published Thursday.
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June 05, 2025
Ex-Atty Says IRS Suit Over Property Sale Tactic Is Retaliatory
A former attorney has asked an Idaho federal court to toss the government's suit accusing him and his company of promoting an abusive tax scheme, arguing that the underlying property sale transactions were above board but the government targeted him as punishment for suing the IRS and to gain backdoor access into confidential business records.
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June 05, 2025
Trump Expects China Trade Talks To Resume After Xi Phone Call
President Donald Trump said he and Chinese President Xi Jinping spoke over the phone Thursday about an impasse in ongoing trade talks over U.S. claims China was slow-walking the exports of rare earths, with Trump saying he expects meetings between the countries' negotiating teams to resume.
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June 05, 2025
'Survivor' Winner Ordered To Pay $3.3M Tax Bill
The first winner of reality competition show "Survivor" must pay his $3.3 million tax bill, but the government is not allowed to enforce tax liens by forcing the sale of two properties, a Rhode Island federal court ruled Thursday.
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June 05, 2025
Calif. Assembly OKs Exemption For Returned Tribal Land
California land that is transferred to a federally recognized Native American tribe would be exempt from state real estate transfer tax under a bill passed in the state Assembly.Â
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June 05, 2025
KFC Parent Co. Fights $4B IRS Bill In Tax Court
The parent company of Pizza Hut, KFC and Taco Bell is challenging $2.5 billion in taxes and penalties that the IRS claims it owes for a corporate reorganization to restructure its international operations, according to a U.S. Tax Court petition served Thursday, a figure that has topped $4 billion with interest.
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June 05, 2025
Justices Fault Wis. For Denying Tax Break To Charities
Wisconsin discriminated against a group of Catholic charities when it denied them an unemployment tax exemption, the U.S. Supreme Court said Thursday, rejecting the state's argument that the charities were not operated primarily for religious purposes.
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June 04, 2025
Cheesesteak Icon Asks 3rd Circ. If Loper Bright Slices Sentence
Counsel for a Philadelphia cheesesteak shop owner seeking a lighter sentence for paying employees off the books told the court Wednesday that he has asked the Third Circuit to consider how the U.S. Supreme Court's landmark decision striking longstanding agency deference framework might affect his case.
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June 04, 2025
NC Biz Court Bulletin: TikTok Tussle And Merger Melee
Spring has sprung momentous decisions and quiet resolutions in some of the North Carolina Business Court's top cases, from clearing for trial the attorney general's suit over a hospital's post-merger standard of care to Cadwalader Wickersham & Taft LLP dropping its coverage dispute over a 2022 data breach.
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June 04, 2025
Judge Ponders If Netflix's Tax Theory Is 'Too Philosophical'
A Colorado appellate judge on Wednesday wondered if Netflix's argument for why its subscriptions are not subject to state sales tax is "too philosophical" and doesn't reflect its actual transactions with customers, at a hearing in the state's appeal.
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June 04, 2025
NJ Man Cops To Dodging $2M Tax Bill On Real Estate
A New Jersey man linked to an intricate pension plan scheme involving refunds from the Dutch government pled guilty to evading more than $2.4 million in U.S. taxes by concealing ownership of more than $5.5 million in real estate, the U.S. Department of Justice said Wednesday.Â
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June 04, 2025
Steel, Aluminum Tariff Hike Casts Cloud Over US Investment
President Donald Trump's latest tariff increases on steel and aluminum imports strengthen an existing barrier to an already duty-riddled trade environment and could put both domestic and foreign businesses' investment opportunities in the U.S. at risk, experts say.
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June 04, 2025
Trump Ordered To Explain Why Layoffs Don't Flout Injunction
A California federal judge ordered the Trump administration Wednesday to explain why preparations for layoffs at the State Department and Department of Housing and Urban Development do not violate an injunction she issued last month, saying she needed more details about the agencies' plans to evaluate their compliance.
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June 04, 2025
Mo. Appeals Court Upholds City Tax On REIT's Rental Income
Healthcare real estate investment trust Ventas Inc.'s receipt of rental income earned from four medical office buildings in Kansas City, Missouri, is a business activity subject to the city's earnings tax, the Missouri Court of Appeals ruled, affirming a lower court decision.
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June 04, 2025
Bulgaria Meets Criteria To Switch To Euro Next Year, EU Says
The European Commission and European Central Bank affirmed that Bulgaria has met all necessary criteria to adopt the euro as its currency starting Jan. 1, which would make it the 21st country to do so.
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June 04, 2025
Boston Condo Owned By LLC Wins Partial Exemption
A Boston condominium owned by a single-member limited liability company is eligible for a partial tax exemption as a primary residence, the Massachusetts Appellate Tax Board said in an opinion released Wednesday, reversing the determination of the city board of assessors.
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June 04, 2025
Trade Talks With US Trying To Avoid Tariff Hikes, EU Says
The European Union and the U.S. aim to avoid tariff hikes threatened by President Donald Trump beginning July 9 as they negotiate this week on investments to rebalance trade in goods and on what the U.S. considers trade barriers, the bloc's trade commissioner said Wednesday.
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June 04, 2025
Mass. Board Upholds Home Value Despite Owner's Claims
A Massachusetts homeowner's claims of groundwater contamination, nearby illicit activities and noxious odors fell short of the evidence needed to reduce the property's tax valuation, a state board said in an opinion released Wednesday.
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June 04, 2025
Ohio Justice Questions School Board's Tax Appeal Claim
An Ohio justice criticized a school board's claim that state law allows it to appeal administrative property valuation rulings to county courts when the board doesn't own the property at issue.
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June 04, 2025
Dutch Court Sentences Man To 6 Months In €40M VAT Fraud
A Netherlands court sentenced a man to over six months in prison for his role in a €40 million ($45.7 million) value-added tax fraud scheme connected to a larger investigation, the European Public Prosecutor's Office said Wednesday.
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June 04, 2025
Loeb & Loeb Trusts And Estates Head Jumps To Proskauer
Proskauer Rose LLP has hired the former chair of Loeb & Loeb LLP's international trusts and estates practice group to represent ultra-high-net-worth individuals and families.
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June 03, 2025
DC Circ. Rejects Tipster's Bid To Reverse IRS Award Denial
The D.C. Circuit refused to reinstate a tipster's petition for a whistleblower award before the U.S. Tax Court claiming his former employer intentionally misclassified him as an independent contractor, ruling Tuesday the Tax Court lacked jurisdiction since he failed to show the agency acted on his tip.
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June 03, 2025
NY Family Partnership Fights $4.5M Income Shift In Tax Court
A New York family partnership challenged an Internal Revenue Service determination that it formed mainly to reduce the tax liability of one of its limited partners, telling the U.S. Tax Court that the agency wrongly shifted $4.5 million in income taxable to him.
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June 03, 2025
Wis. Village Wants Reversal Of Land Transfers To Tribal Trust
Hobart, Wisconsin, has asked a federal judge to undo a move by the U.S. Department of the Interior to place properties into a trust for the Oneida Nation, arguing that the transfers were made despite the village's claims of a biased administrative process.
Expert Analysis
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Series
Flying Makes Me A Better Lawyer
Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.
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What Higher Education Can Expect From A 2nd Trump Admin
The election of Donald Trump for a second presidential term has far-reaching ramifications for colleges and universities — come January, institutions can expect a crackdown on DEI, increased scrutiny of campus protests, a rollback of the Biden administration's Title IX rules and more, say attorneys at Jenner & Block.
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Series
Circus Arts Make Me A Better Lawyer
Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.
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3 Ways To Train Junior Lawyers In 30 Minutes Or Less
Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.
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Expect Surging Oil And Gas Industry Under New Trump Admin
Throughout his recent campaign, President-elect Donald Trump promised increased oil and natural gas production and reduced reliance on renewables — and his administration will likely bring more oil and gas dealmaking, faster federal permitting and attempts to roll back incentives for green energy, say attorneys at Sidley.
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The Bar Needs More Clarity On The Discovery Objection Rule
Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.
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Series
Being A Navy Reservist Makes Me A Better Lawyer
Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.
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Cos. Should Inventory Issues To Prep For New Congress
As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.
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Conservation Easement Cases Weave Web Of Uncertainty
Much of the IRS and Justice Department’s recent success in prosecuting syndicated conservation easement cases can be attributed to the government’s focus on the so-called PropCo ratio, which could indicate treacherous waters ahead for participants and their advisers, even under the incoming Trump administration, say attorneys at Polsinelli.
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So You Want To Move Your Law Practice To Canada, Eh?
Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.
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Legislation Most Likely To Pass In Lame Duck Session
As Congress begins its five-week post-election lame duck session, attorneys at Greenberg Traurig break down the legislative priorities and which proposals can be expected to pass.
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What Trump's 2nd Presidency Could Mean For Crypto Sector
Trump's second term will bring a fundamental shift from the Biden administration's approach to crypto-asset regulation and banking supervision, with the most significant changes likely taking effect in the first two quarters of 2025 and broader policy shifts emerging over the next year, say attorneys at Cahill.
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Promoting Diversity In The Selection Of ADR Neutrals
Excerpt from
Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.
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Series
Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.Â
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Considering Chevron's End Through A State Tax Lens
States took the lead in encouraging Chevron's demise, turning away from Chevron-type deference in state tax administration ahead of the U.S. Supreme Court’s Loper Bright decision, a trend likely to accelerate as courts take a more active role in interpreting tax laws, say attorneys at Eversheds Sutherland.