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Tax
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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.
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August 27, 2025
US Tax Compliance To Cost $536 Billion In 2025, Report Says
U.S. taxpayers will spend about $536 billion this year complying with the tax code, largely in what economists call opportunity costs, an amount greater than federal revenues from corporate income tax, the Tax Foundation reported Wednesday.
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August 27, 2025
Baker Botts Adds 2 More Lateral Partners In NY
As it touts the addition of 17 lateral partners this year so far, Baker Botts LLP announced Tuesday that it has gained a former Paul Weiss Rifkind Wharton & Garrison LLP attorney focused on executive compensation and transactional tax strategy and a former McDermott Will & Schulte LLP attorney focused on public company and private equity mergers and acquisitions.
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August 26, 2025
Joseph Nocella Jr. Appointed US Attorney For EDNY
Joseph Nocella Jr. on Tuesday was reportedly appointed as the U.S. attorney for the Eastern District of New York, having served as the district's interim top prosecutor since early May.
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August 26, 2025
Md. Pharmacy Owner Gets 1 Year For Filing False Tax Returns
A Baltimore pharmacy owner was sentenced to just over one year in prison after filing fraudulent tax returns and underreporting his income to the Internal Revenue Service by more than $3.5 million, federal prosecutors announced Tuesday.
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August 26, 2025
Brewer Can't Challenge Home Distilling Ban, US Tells 6th Circ.
A brewery owner who wants to make his own whiskey can't bring a suit challenging the tax code's prohibition on home distilleries because he hasn't shown that he's likely to start making spirits or that the government would come knocking if he does, the U.S. Treasury Department told the Sixth Circuit.
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August 26, 2025
Tax Credit Dispute Sparks $1.3M Lawsuit Against Jersey City
A prominent Garden State developer filed a lawsuit against New Jersey's second-largest city, claiming the city improperly reversed its position on a longstanding tax agreement — demanding nearly $1.3 million in back payments that the developer says it does not owe.
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August 26, 2025
Calif. Senate OKs New Tax Default Property Sales Rules
California county boards of supervisors would be required to take new steps before approving the sale of a tax-defaulted property under a bill passed by the state Senate.Â
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August 26, 2025
EU Defends Digital Taxes Following Trump's Tariff Threat
The European Commission said Tuesday that it stands by European Union member states keeping digital taxes in place despite President Donald Trump's renewed threats to impose tariffs on countries with measures hitting the U.S. tech giants.
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August 25, 2025
LA Atty Used Client Trust Acct. To Hide $2.1M Bribe, Jury Told
A California divorce attorney accepted a $2.1 million bribe from a Swiss oil company related to his work in Nigeria and laundered the money through his U.S. client trust account, a prosecutor told a federal jury in Los Angeles on Monday during opening statements in the attorney's criminal trial.Â
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August 25, 2025
More Than 1,200 Telcoms Booted From Phone Networks
More than 1,200 voice service providers have been blocked from U.S. phone networks after "shirking" their obligations to use a database that tracks unwanted call traffic, the federal government said Monday.
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August 25, 2025
Alaska Looks To Reopen Tribal Gaming Lease Dispute
Alaska is asking a D.C. federal court to reopen a dispute that rejected an Indigenous tribe's bid to secure the right to open a bingo hall, alleging that the tribe is now claiming governmental powers over the land and treating it as Indian Country under the Indian Gaming Regulatory Act.
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August 25, 2025
NC Man Gets Nearly 20 Years For Tax Fraud, Ponzi Scheme
A North Carolina man was sentenced to nearly 20Â years in prison after willfully failing to report nearly $9 million in income to the Internal Revenue Service and evading more than $3 million in taxes in connection with a $20 million Ponzi scheme, federal prosecutors said.
Expert Analysis
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Series
Playing The Violin Makes Me A Better Lawyer
Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo.
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Series
Law School's Missed Lessons: Practicing Self-Care
Law schools don’t teach the mental, physical and emotional health maintenance tools necessary to deal with the profession's many demands, but practicing self-care is an important key to success that can help to improve focus, manage stress and reduce burnout, says Rachel Leonard​​​​​​​ at MG+M.
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Nev. Steps Up Efforts To Attract Incorporations With New Law
Recent amendments to Nevada corporate law, which will narrow controlling stockholders’ liability, streamline mergers and allow companies to opt out of jury trials, show the interstate competition to attract new and reincorporating companies is still heating up, say attorneys at Simpson Thacher.
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ABA Opinion Makes It A Bit Easier To Drop A 'Hot Potato'
The American Bar Association's recent ethics opinion clarifies when attorneys may terminate clients without good cause, though courts may still disqualify a lawyer who drops a client like a hot potato, so sending a closeout letter is always a best practice, say attorneys at Thompson Hine.
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Federal Construction Considerations Amid Policy Overhaul
The rapid overhaul of federal procurement, heightened domestic sourcing rules and aggressive immigration enforcement are reshaping U.S. construction, but several pragmatic considerations can help federal contractors engaged in infrastructure and public construction avoid the legal, financial and operational fallout, say attorneys at Cozen O'Connor.
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Can Companies Add Tariffs Back To Earnings Calculations?
With the recent and continually evolving tariffs announced by the Trump administration, John Ryan at King & Spalding takes a detailed look at whether those new tariffs can be added back in calculating earnings before interest, taxes, depreciation and amortization — an important question that may greatly affect a company's compliance with its financial covenants.
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Series
My Opera And Baseball Careers Make Me A Better Lawyer
Though participating in opera and the world of professional baseball often pulls me away from the office, my avocations improve my legal career by helping me perform under scrutiny, prioritize team success, and maintain joy and perspective at work, says Adam Unger at Herrick Feinstein.
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A Look At DOJ's Dropped Case Against Early Crypto Operator
The prosecution of an early crypto exchange operator over alleged unlicensed money transmission was recently dropped in Indiana federal court, showcasing that the U.S. Justice Department may be limiting the types of enforcement cases it will bring against digital asset firms, say attorneys at Greenberg Traurig.
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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.