Tax

  • August 09, 2024

    Pa. Firm Seeks Over $790K In Employee Retention Credit

    The Internal Revenue Service has failed to pay Ostroff Injury Law PC the more than $790,000 it is owed in pandemic-era employee retention credits, the Pennsylvania firm alleges in a federal court complaint, despite satisfying two separate tests the firm says qualify it for the relief.

  • August 08, 2024

    IRS Agents Seek To Join Hunter Biden's Tax Privacy Case

    Accusations of wrongdoing against two Internal Revenue Service whistleblowers who said the government downplayed tax fraud allegations against Hunter Biden give the pair standing to intervene in Biden's privacy case against the U.S. government, the men told a federal court. 

  • August 08, 2024

    Feds Seek 2 Years For Accountant In $8M Payroll Tax Scheme

    A New Jersey moving company's head accountant should serve a two-year sentence for being the "nerve center" of a nearly $8 million payroll tax scheme, prosecutors told a New York federal judge in a bid to deny the man's request for a noncustodial sentence.

  • August 07, 2024

    NC Biz Court Bulletin: The Battles Making Summer Sizzle

    A 1983 championship basketball team's intellectual property rights and a public feud between Cadwalader Wickersham & Taft LLP and its insurer are among the legal battles that have kept North Carolina Business Court judges and Tar Heel state private practice attorneys busy this summer. In case you missed those and others, here are the highlights.

  • August 07, 2024

    Weak Link Doomed $690M Whistleblower Claim, DC Circ. Says

    A whistleblower could not get up to $690 million, or 30% of the $2.3 billion collected in an Internal Revenue Service offshore voluntary disclosure program, because the connection between his actions and the program was weak, the D.C. Circuit said Wednesday.

  • August 07, 2024

    5th Circ. Grapples With 'Ridiculous' $100M Arbitration

    A Fifth Circuit panel struggled to make sense out of a "ridiculous" arbitration proceeding that produced four contradictory arbitration awards in a legal malpractice dispute, one awarding $100 million, pressing both sides during oral arguments Wednesday to give answers about how the "spectacle" unfolded.

  • August 07, 2024

    Tax Court's Economic Substance Foray May Clarify Limits

    A U.S. Tax Court judge plans to address an ill-defined provision governing the relevance of the economic substance doctrine in a microcaptive insurance case, offering the courts another chance to clarify an anti-abuse tool the IRS has been deploying more often.

  • August 07, 2024

    Tripling UK's DST Would Cost US Cos. $4.4B, Report Says

    The Liberal Democrats' proposal to raise the U.K.'s digital services tax rate to 6% from 2% would cost U.S. companies up to $4.4 billion a year when accounting for the impact of passing on the costs, a business group said.

  • August 07, 2024

    Missouri Voters Reject Exemption For Child Care Facilities

    Missouri will not allow local governments to exempt child care facilities from property tax after a constitutional amendment was rejected by voters Wednesday. 

  • August 07, 2024

    Singapore's Carbon Tax Is Revenue-Neutral, Minister Says

    Singapore's carbon tax is expected to have a neutral impact on tax revenues over the next decade, even after accounting for a recent hike in the rate to SG$25 ($18.81) per metric ton of emissions, the country's environment minister said.

  • August 07, 2024

    Logistics Co. CEO Denies Role In NJ Racketeering Scheme

    The chief executive officer of logistics firm NFI Industries on Wednesday denied that he played a role in an alleged scheme led by a New Jersey power broker accused of reaping millions in tax credits by using extortion to acquire waterfront property in the distressed city of Camden.

  • August 06, 2024

    Wind Tower Co. Asks Full Fed. Circ. To Revisit Subsidy Duties

    A Federal Circuit panel wrongly concluded that a 10% depreciation rate for deducting costs related to manufacturing facilities set by Canadian law was an unfair trade subsidy that justified countervailing trade duties, a wind tower manufacturer told the court in seeking a rehearing.

  • August 06, 2024

    Wash. Appeals Court Reverses On Gas Chain Owing State Tax

    A Pacific Northwest gas station chain that issued fuel cards to customers must pay the Washington state business tax when cardholders purchase gas from other participating gas station chains as well as from nonparticipating chains, a state appeals court panel said Tuesday, reversing an earlier opinion.

  • August 06, 2024

    Ohio Board Affirms Nix Of Tax Break For Church's Rec Site

    A recreation field owned by an Ohio-based church doesn't qualify for a property tax exemption because it wasn't used as a place of worship, the state Board of Tax Appeals affirmed.

  • August 06, 2024

    Ayahuasca Church Asks DC Circ. To Rethink Tax Status

    An Iowa church that used a psychedelic drug in its rites asked the D.C. Circuit for an en banc rehearing after a panel determined the church was correctly denied tax-exempt status since its main purpose was using a federally illegal drug.

  • August 06, 2024

    NC Software Execs Can't Unravel Payroll Tax Fraud Conviction

    Two former software executives found guilty of failing to pay over $600,000 in employment taxes failed to clear a steep hurdle in trying to reverse their convictions, a North Carolina federal judge said in rejecting their bid for acquittal or a new trial.

  • August 06, 2024

    Arnold & Porter Adds Abramson Cancer Center Chief Counsel

    Throughout her career and while working in progressive leadership roles for the Abramson Cancer Center at the University of Pennsylvania, Mir Masud-Elias, Arnold & Porter Kaye Scholer LLP's newest counsel, has asked herself the same question: Is this role the best use of her time on Earth?

  • August 06, 2024

    Austria Records 'Problematic' Rise In Fake Companies

    Fake companies are on the rise in Austria, the country's Finance Ministry said Tuesday, adding that it hoped that a newly agreed-to law against tax evasion and fraud could reverse the trend.

  • August 05, 2024

    Latest Draft Widens Scope Of UN Tax Convention

    Diplomats would gain flexibility on the scope, commitments and source material of a United Nations convention on international tax cooperation under a revised guidance for negotiators released ahead of a debate Monday as preliminary talks inch closer to finishing.

  • August 05, 2024

    EU Court To Hear Czech Value-Added Tax Case

    The Court of Justice of the European Union will consider a case from the Czech Republic concerning whether the bloc's value-added tax system and proportionality principle precludes a Czech law regarding the transfers of VAT payment liabilities, the EU said Monday.

  • August 05, 2024

    Dems Unearth Another Thomas Trip Paid For By Harlan Crow

    U.S. Supreme Court Justice Clarence Thomas took a previously undisclosed trip between Hawaii and New Zealand on a billionaire Republican donor's private jet in 2010, lawmakers revealed in a letter Monday that offered the donor a "final opportunity" to explain how that trip and others don't constitute a tax fraud scheme.

  • August 02, 2024

    HFZ Capital Cops To $86M Fraud Charges, Blames Ex-Chief

    Defunct real estate firm HFZ Capital Group pled guilty in an $86 million criminal case Friday, admitting that its former top executive Nir Meir evaded New York City property taxes and stole funds from commercial and residential building projects.

  • August 02, 2024

    Colo. Appeals Panel Rejects Lower Tax Rate For Hospital

    A Colorado rehabilitation hospital should be classified as a commercial property for tax purposes because it was predominantly designed for its services and not for residency, a state appeals court said, reversing a state assessment board.

  • August 02, 2024

    St. Louis Attys Can't Get Acquittal In $4M Tax Avoidance Case

    Two Missouri-based attorneys, a father and daughter duo found guilty of participating in a $4 million tax avoidance scheme, will not be granted a new trial or an acquittal, despite their assertions that a number of errors tainted their trial, a North Carolina federal judge ruled Friday.

  • August 02, 2024

    Manhattan DA Slams Trump's 'Regurgitated' Recusal Bid

    The Manhattan district attorney pilloried Donald Trump's renewed request for the judge overseeing his hush money case to recuse himself, branding it a "regurgitated" attempt to rehash issues the court already decided without any new facts — besides Kamala Harris' presidential bid.

Expert Analysis

  • Unpacking The Bill To Extend TCJA's Biz-Friendly Tax Breaks

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    Attorneys at Skadden examine how a bipartisan bill currently being considered by the U.S. Senate to save the Tax Cuts and Jobs Act's tax breaks for research and development costs, and other expiring business-friendly provisions, would affect taxpayers.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • Deciding What Comes At The End Of WTO's Digital Tariff Ban

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    Companies that feel empowered by the World Trade Organization’s recent two-year extension of the ban on e-commerce tariffs should pay attention to current negotiations over what comes after the moratorium expires, as these agreements will define standards in international e-commerce for years to come, say Jan Walter, Hannes Sigurgeirsson and Kulsum Gulamhusein at Akin Gump.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • Consider 2 Alternative Exit Plans In RE Distress Scenarios

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    In the face of an impending wave of foreclosures, lenders and borrowers alike should consider two exit strategies — deed-in-lieu of foreclosure and consent foreclosure — that can mitigate potential costs and diminution in property value that could be incurred during a lengthy proceeding, say attorneys at BCLP.

  • Tips For Balanced Board Oversight After A Cyberincident

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    The U.S. Securities and Exchange Commission's cybersecurity disclosure rules, as well as recent regulatory enforcement actions bringing board governance under scrutiny, continue to push boards toward active engagement in relation to their cyber-oversight role, despite it being unclear what a board's level of involvement should be, say attorneys at Alston & Bird.

  • Opinion

    SC's Courts Have It Wrong On Amazon Marketplace Sales Tax

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    The South Carolina Supreme Court should step in and correct the misguided change in tax law effectuated by lower court rulings that found Amazon owes state sales tax for marketplace sales made prior to the U.S. Supreme Court’s Wayfair v. South Dakota decision in 2018, says Hayes Holderness at the University of Richmond.

  • IRS Sings New Tune: Whistleblower Form Update Is Welcome

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    In a significant reform at the Internal Revenue Service's Whistleblower Office, the recently introduced revisions to the Form 211 whistleblower award application use new technology and a more intuitive approach to streamline the process of reporting allegations of tax fraud committed by wealthy individuals and companies, says Benjamin Calitri at Kohn Kohn.

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

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    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

  • This Earth Day, Consider How Your Firm Can Go Greener

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    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • Energy Community Tax Credit Boost Will Benefit Wind Sector

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    Recent Internal Revenue Service guidance broadening tax credit eligibility to more parts of offshore wind facilities in so-called energy communities is a win for the industry, which stands to see more projects qualify for a particularly valuable bonus in the investment tax credit context due to the capital-intensive nature of offshore wind projects, say attorneys at Troutman Pepper.

  • Weisselberg's Perjury At Trial Spotlights Atty Ethics Issues

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    Former Trump Organization executive Allen Weisselberg’s recent guilty plea for perjury in the New York attorney general's civil fraud trial should serve as a reminder to attorneys of their ethical duties when they know a client has lied or plans to lie in court, and the potential penalties for not fulfilling those obligations, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Series

    Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • Opinion

    Why Supreme Court Should Allow Repatriation Tax To Stand

    If the U.S. Supreme Court doesn't reject the taxpayers' misguided claims in Moore v. U.S. that the mandatory repatriation tax is unconstitutional, it could wreak havoc on our system of taxation and result in a catastrophic loss of revenue for the government, say Christina Mason and Theresa Balducci at Herrick Feinstein.

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