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Tax

  • 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.

  • 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.

  • June 20, 2025

    Senate's ÃÛÌÒÊÓÆµ, 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • June 20, 2025

    Small Biz Tax Represents 60% Of UK Tax Gap, HMRC Says

    The U.K. government took in £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.  

  • 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 to be dropped under the Trump administration.

  • 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.

  • 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.

  • 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.

  • June 18, 2025

    £20M Buybacks Weren't Mainly For Tax Benefit, UK Court Says

    Obtaining a tax advantage wasn't the main purpose of two businessmen arranging £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.

  • 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, the U.S. Department of Justice told a federal court.

  • 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.

  • June 18, 2025

    Okla. Apartments Not Subject To Property Tax Bump Transfer

    An Oklahoma apartment complex is not subject to the county's increased tax assessment that is allowed when a property's title is transferred just because the limited partnership that owns the complex changed ownership, the state Supreme Court ruled. 

  • June 17, 2025

    Baker Tilly Hit With Investor Suit Over Failed LA Projects

    Two investors have sued accounting firm Baker Tilly US LLP, its subsidiary Squar Milner LLP, a Los Angeles developer and others in California state court, accusing them of deceiving the investors on a pair of real estate projects that ultimately failed.

  • June 17, 2025

    Ill. Increases Sports Betting, Tobacco Tax And Taxes Airbnbs

    Illinois increased its tax on sports betting and tobacco products and extended its tax on hotel operators to include short-term rentals like Airbnbs and Vrbos under a budget bill approved by the governor.

  • June 17, 2025

    Ill. Toy Makers Seek Justices' Early Review Of Trump Tariff Suit

    Illinois-based toy makers challenging President Donald Trump's emergency tariffs on Tuesday requested the U.S. Supreme Court consider their case before it is reviewed by the D.C. Circuit, arguing a stay to an injunction is allowing duty collections to continue and is damaging the companies.

  • June 17, 2025

    Commodities Scheme Operator Gets 65 Years, Owes $75M

    The operator of a commodities scheme who evaded taxes and stole precious metals from his clients was sentenced to 65 years in prison and ordered to pay more than $75 million in restitution Tuesday by a Delaware federal court that also denied his request for a new trial.

  • June 17, 2025

    DOJ Seeks 5 Years, $10M For Fla. Man Hiding Swiss Accounts

    A Miami man who lied to authorities and others for decades about his Swiss bank accounts should pay $10.3 million in unpaid taxes and face a maximum five-year prison sentence based on his plea agreement, the U.S. Department of Justice told a Florida federal court.

  • June 17, 2025

    Democrats Probe Palantir About IRS Taxpayer Database

    Ten Democratic lawmakers demanded information Tuesday from the head of Palantir Technologies Inc. about media reports that the software company is working with the IRS to create a searchable database containing sensitive taxpayer information — claims the company denied almost immediately.

  • June 17, 2025

    Ex-Hoboken Official Gets 2 Years For $450K Embezzlement

    A former Garden State municipal official was sentenced to 24 months in federal prison after pleading guilty to embezzling hundreds of thousands of dollars from city programs and filing false tax returns, federal prosecutors announced Tuesday.

  • June 17, 2025

    Senate Bill Could Hike Taxes On Litigation Funding Profits

    Sen. Mike Crapo, R-Idaho, chair of the Senate Finance Committee, released the committee's budget reconciliation proposal Monday evening, which includes proposed reforms to third-party litigation funding.

Expert Analysis

  • 10 Arbitrations And A 5th Circ. Ruling Flag Arb. Clause Risks

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    The ongoing arbitral saga of Sullivan v. Feldman, which has engendered proceedings before 10 different arbitrators in Texas and Louisiana along with last month's Fifth Circuit opinion, showcases both the risks and limitations of arbitration clauses in retainer agreements for resolving attorney-client disputes, says Christopher Blazejewski at Sherin and Lodgen.

  • Series

    Power To The Paralegals: The Value Of Unified State Licensing

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    Texas' proposal to become the latest state to license paraprofessional providers of limited legal services could help firms expand their reach and improve access to justice, but consumers, attorneys and allied legal professionals would benefit even more if similar programs across the country become more uniform, says Michael Houlberg at the University of Denver.

  • 10 Soft Skills Every GC Should Master

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    As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.

  • An Unrestrained, Bright-Eyed View Of Legal AI's Future

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    Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.

  • Tracking The Evolution In Litigation Finance

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    Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.

  • Series

    Volunteer Firefighting Makes Me A Better Lawyer

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    While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.

  • Tax Takeaways From Georgia's 2025 Legislative Session

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    Attorneys at Eversheds Sutherland discuss tax-related measures passed by the Georgia Legislature during the session that adjourned on April 4, which included a decrease in income tax rates, an extension of the time in which to a protest tax assessment and cleanup provisions related to launching the state’s new tax court next year.

  • E-Discovery Quarterly: The Perils Of Digital Data Protocols

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    Though stipulated protocols governing the treatment of electronically stored information in litigation are meant to streamline discovery, recent disputes demonstrate that certain missteps in the process can lead to significant inefficiencies, say attorneys at Sidley.

  • Maximizing Exemptions Before TCJA Rides Into The Sunset

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    Individuals with taxable estates can optimize the benefits of estate planning strategies like spousal lifetime access trusts by setting them up before increases in estate and gift tax exemptions under the 2017 Tax Cuts and Jobs Act sunset in January, say attorneys at Katten.

  • Series

    Law School's Missed Lessons: Preparing For Corporate Work

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    Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.

  • A Cold War-Era History Lesson On Due Process

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    The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.

  • Series

    Improv Makes Me A Better Lawyer

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    Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.

  • How BigLaw Executive Orders May Affect Smaller Firms

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    Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.

  • Opinion

    Lawsuits Shouldn't Be Shadow Assets For Foreign Capital

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    Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.

  • How To Accelerate Your Post-Attorney Career Transition

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    Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.

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