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Tax
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June 24, 2025
Pa. Tax Ruling Boosts Nonprofits' Competitive Edge, Attys Say
A recent Pennsylvania Supreme Court ruling clarifying that competitive executive compensation isn't a threat to the tax-exempt status for nonprofits has the added bonus of helping charities compete for and retain talent, attorneys tell Law360.
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June 24, 2025
Mass. Condo Value Won't Get Reduced, Board Says
The fair cash value of a Massachusetts condominium should not be lowered, the state Appellate Tax Board ruled, finding the owner failed to prove the property had decreased in value since she purchased it two months before.
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June 23, 2025
Talks Ongoing On EU Digital Tax, Italian Official Says
The European Union is continuing to discuss the possibility of adopting a blocwide digital services tax, Italy's top international tax official said Monday.
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June 23, 2025
Takings Not Enough To Lower Lot Value, Mass. Board Says
A half-acre parking lot in Massachusetts was not overvalued by a local assessor despite temporary and permanent takings by the state highway department during road construction, the state Appellate Tax Board said in a decision released Monday.
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June 23, 2025
Mass. Home Was Overvalued, Tax Board Rules
A Massachusetts home should have its value lowered based on the home's purchase price and comparable sales in the area, the state Appellate Tax Board said in a ruling released Monday.
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June 23, 2025
East Lansing To Pay $7.8M After High Court Energy Fee Ruling
East Lansing, Michigan, has agreed to pay $7.8 million to its residents for an electric bill charge that the Michigan Supreme Court deemed to be a hidden tax.
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June 23, 2025
No Break For Early Pay After Late Postmark, Ore. Court Says
An Oregon company could not show that its property tax payments were mailed before the due date for receiving a discount for early payments, the state tax court said.
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June 23, 2025
Weil Gotshal Hires Akin Gump Tax Partner In NY
Weil Gotshal & Manges LLP announced Monday the hiring of a partner at Akin Gump Strauss Hauer & Feld LLP as a tax partner out of Weil's New York office.
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June 23, 2025
Texas Authorizes Tax Break For Border Safety Infrastructure
Texas authorized a property tax exemption for real property used to install border security infrastructure in counties that border Mexico, pending voter approval of a proposed amendment to the state constitution, under a bill signed by Gov. Greg Abbott.
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June 23, 2025
Crypto Exec Seeks 5th Circ. Redo Over IRS Summonses
A cryptocurrency executive asked the Fifth Circuit to reconsider his request to quash IRS summonses for his bank records, saying its decision that he was prematurely trying to appeal a lower court's ruling ignored his claims that the agency's documents were incomplete and lacked legal power.
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June 20, 2025
Supreme Court Won't Leapfrog DC Circ. Over Trump's Tariffs
The U.S. Supreme Court rejected a request from two Illinois-based toy makers challenging President Donald Trump's emergency tariffs to consider their case before it is reviewed by the D.C. Circuit.
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June 20, 2025
Senate's 蜜桃视频, PCAOB Cuts Hit Parliamentarian Roadblock
The U.S. Senate parliamentarian has thrown cold water on the Senate Banking Committee's bids to defund the Consumer Financial Protection Bureau and eliminate the Public Company Accounting Oversight Board as part of the "One Big Beautiful" budget megabill, but the panel's top Republican is vowing to keep seeking further spending cuts.
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June 20, 2025
Kansas Sheriff Loses Bid To Dismiss Tribal Jurisdiction Suit
A Kansas federal judge has denied a county sheriff's bid to dismiss the Prairie Band Potawatomi Nation's suit over tribal jurisdiction, saying the tribe has standing to sue and has plausibly shown that it will suffer irreparable harm unless the court issues injunctive relief.
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June 20, 2025
Texas Justices Pass On USA Today, Tax Firm Defamation Fight
The Texas Supreme Court on Friday declined to take up a venue dispute in a defamation suit against USA Today over a 2021 investigative series into tax services and technology company Ryan LLC.
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June 20, 2025
Major Nations Endorse New Payment Transparency Standards
Authorities from the U.S., China and other major countries have endorsed payment transparency standards slated to take effect in 2030 that would require information on peer-to-peer cross-border payments above $1,000, according to the Financial Action Task Force.
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June 20, 2025
Norton Rose Adds Holland & Knight Tax Partner In DC
Norton Rose Fulbright has expanded its tax insurance underwriting offerings in the nation's capital with the addition of a partner from Holland & Knight LLP.
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June 20, 2025
Taxation With Representation: Latham, Paul Weiss, Covington
In this week's Taxation With Representation, Nippon Steel closes its purchase of U.S. Steel, Hunter Point Capital buys a minority stake in Equitix, Eaton acquires Ultra PCS Ltd. from the Cobham Ultra Group, and Eli Lilly and Co. acquires Verve Therapeutics.
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June 20, 2025
Small Biz Tax Represents 60% Of UK Tax Gap, HMRC Says
The U.K. government took in 拢46.8 billion ($63 billion) less tax revenue than expected for the 2023-2024 tax year, with noncompliance from small businesses accounting for 60% of the gap, according to HM Revenue & Customs. 聽
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June 18, 2025
Toyota Says DOJ Has Closed Thai Bribery Probe
Toyota said Wednesday that the U.S. Department of Justice has closed a long-running Foreign Corrupt Practices Act investigation concerning allegations of bribery at its Thai subsidiary, the latest such probe聽to be dropped under the Trump administration.
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June 18, 2025
Seychelles Co. Brings $22M Guinea Award To DC Circ.
A consulting company is asking the D.C. Circuit to revive its bid to enforce a $22 million arbitration award against the Republic of Guinea, contending that the lower court was wrong to toss the case on jurisdictional grounds.
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June 18, 2025
Fed. Circ. OKs How Commerce Filled Blank In Steel Duty Case
The U.S. Department of Commerce may apply adverse facts to a company that fails to propose reasonable alternatives for collecting information that would be unreasonably hard to obtain in an antidumping investigation, the Federal Circuit said in a precedential opinion upholding steel duties on German companies.
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June 18, 2025
Feds Want Pa. Inmate To Face $810K Tax Refund Case
Massachusetts federal prosecutors want a Pennsylvania inmate returned to the Bay State by July to face claims he impersonated a corporate executive and swiped an $810,000 tax refund bound for a Stamford, Connecticut, investment firm.
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June 18, 2025
拢20M Buybacks Weren't Mainly For Tax Benefit, UK Court Says
Obtaining a tax advantage wasn't the main purpose of two businessmen arranging 拢20 million ($26.8 million) in share buybacks, despite that being the effect, so they aren't liable for an anti-avoidance action by HM Revenue & Customs, the U.K. Upper Tribunal said in overturning a lower court's ruling.
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June 18, 2025
Mushroom Farm Faces $6M Tax Liens Tied To Fraud Case
A defunct Pennsylvania mushroom farm failed to pay the outstanding balance in a payroll tax fraud case that sent its owner to jail last year and owes more than $6 million worth of tax liens,聽the U.S. Department of Justice told a federal court.
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June 18, 2025
Mich. Housing Co-Op Suit On Hold After Disclosure Exemption
A Michigan federal judge hit pause on a lawsuit from a group of housing cooperatives to escape requirements of the Corporate Transparency Act after the Financial Crimes Enforcement Network said it would give U.S.-based entities a break from the rules.
Expert Analysis
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Rethinking Litigation Risk And What It Really Means To Win
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.
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How DOGE's Bite Can Live Up To Its Bark
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.
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Small Biz Caught In Corporate Transparency Act Crossfire
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 鈥 and confusion over the law's requirements could result in major penalties, say attorneys at Snell & Wilmer.
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5 Notable Information Security Events In 2024
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.
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Series
Playing Rugby Makes Me A Better Lawyer
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.
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Opinion
No, Litigation Funders Are Not 'Fleeing' The District Of Del.
A recent study claimed that litigation funders have 鈥渇led鈥 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.
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Hydrogen Regs Will Provide More Certainty 鈥 If They Survive
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 鈥 but the incoming Trump administration and Republican Congress will have multiple options for overturning or altering the regulations, say attorneys at Steptoe.
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5 E-Discovery Predictions For 2025 And Beyond
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.
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What's Ahead As Transparency Act Comes To A Crossroads
Synthesizing the contrasting federal district and appellate court rulings on the Corporate Transparency Act鈥檚 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.
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Final Hydrogen Tax Credit Regs Add Flexibility For Producers
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 鈥 but not eliminating 鈥 the risk of legal challenges to the regulations, say attorneys at Steptoe.
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5 Evolving Concerns For Family Offices In 2025
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.
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Series
Illinois Banking Brief: All The Notable Legal Updates In Q4
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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7 Ways 2nd Trump Administration May Affect Partner Hiring
President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.
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E-Discovery Quarterly: Rulings On Custodian Selection
Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.
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A Look At PCAOB's Record-Breaking Enforcement In 2024
The Public Company Accounting Oversight Board in 2024 brought more enforcement actions against auditors and imposed increasingly higher monetary penalties, showing that it was not afraid to exercise its power to fine and reprimand firms, a trend that will likely continue in 2025, say attorneys at Briglia Hundley.