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Tax
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January 28, 2025
Tax Group Of The Year: Cravath
Cravath Swaine & Moore LLP helped secure high-profile mergers and acquisitions for major media and communications companies in 2024, having played key roles in Paramount's $28 billion merger agreement with Skydance Media and a separate deal involving Verizon Communications, earning the law firm a spot among the 2024 Law360 Tax Groups of the Year.
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January 28, 2025
Judge Temporarily Halts Trump's Funding Freeze
A D.C. federal judge on Tuesday temporarily blocked a Trump administration freeze on federal spending that was set to go into effect at 5 p.m., as a group of nearly two dozen attorneys general filed a separate case challenging what they described as an illegal and potentially catastrophic move.
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January 28, 2025
Ariz. Panel OKs Nonresident Real Estate Gains Tax Reports
Arizona's tax department would report on the capital gains taxes paid by nonresidents under legislation advanced by a state Senate panel.
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January 28, 2025
Wealth Manager Cops To Funding Lifestyle With Client Money
A suburban Philadelphia investment adviser pled guilty in federal court Tuesday morning to charges that he stole more than $20 million of his clients' money, which he spent on international travel, country club dues, and a stake in a New Jersey mini golf course.
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January 28, 2025
EU Authorities Smash €100M Money Laundering Scheme
A group of more than 20 individuals suspected of running a €100 million ($104 million) money laundering scheme in Europe has been arrested following a two-year investigation by law enforcement authorities in Spain, Cyprus and Germany, an EU agency said Tuesday.
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January 27, 2025
Feds' Madigan Informant Is A 'Malignant Tumor,' Jury Told
An attorney for ex-Illinois House Speaker Michael Madigan took aim Monday at the former Chicago alderman called as the government's star witness in Madigan's criminal racketeering trial, calling him "a malignant tumor at the heart of this case" and urging jurors not to trust his testimony as they prepare to deliberate on his client's fate.
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January 27, 2025
Late Filings Didn't Stymie Tax Challenges, Conn. Justices Say
Failing to file timely appraisals on commercial properties valued over $1 million was not fatal to several owners' tax assessment challenges under a new state law, the Connecticut Supreme Court ruled Monday, agreeing that a trial judge properly reopened the cases months after a missed deadline.
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January 27, 2025
HMRC Can Appeal In Dispute Over UK-Ireland Tax Agreement
HM Revenue & Customs can proceed with an appeal in its case alleging an Irish company's investment in a U.K.-based company was made to gain tax advantages, the Court of Appeal ruled Monday after hearing arguments.
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January 27, 2025
Senate Confirms Bessent As Treasury Secretary
A bipartisan majority of senators voted Monday to confirm billionaire hedge fund manager Scott Bessent as Treasury secretary, putting in place a key member of President Donald Trump's Cabinet.
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January 27, 2025
Ind. Gov. Orders Analysis Of Nonprofit Hospitals' Tax Breaks
Indiana's governor issued an executive order requiring an analysis of nonprofit hospitals operating in the state to evaluate the tax-exempt benefits they received compared with the amount of charity care they provided.
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January 27, 2025
NJ Shortens Window For Use Of Redevelopment Tax Credits
New Jersey reduced the time in which tax credits for certain mixed-use and commercial real estate redevelopment projects must be used after approval as part of a bill signed by Gov. Phil Murphy.
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January 27, 2025
Meet The Attys Surrounding Pa. Wealth Manager In Fraud Case
By the time Scott Mason and his company Rubicon Wealth Management were hit with criminal and regulatory enforcement claims alleging he stole $20 million from clients, the suburban Philadelphia wealth manager was already defending multiple civil lawsuits in Pennsylvania state court.
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January 27, 2025
SCOTUSblog Publisher Pleads Not Guilty To Tax Crimes
U.S. Supreme Court advocate and SCOTUSblog co-founder Tom Goldstein pled not guilty in Maryland federal court on Monday to charges that he schemed to evade taxes and used funds from his boutique law firm to cover gambling debts.
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January 27, 2025
Mo. Tax Commission Lowers T-Mobile Towers' Value
Two T-Mobile cell towers in Missouri should have their value lowered after the company provided a thorough inspection that properly accounted for depreciation, the state's tax commission ruled.
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January 24, 2025
EEOC Disability Bias Suit Tossed Following Nixed Evidence
A mortgage and financial services company on Friday defeated a U.S. Equal Employment Opportunity Commission lawsuit alleging it unlawfully refused to hire a woman because she took pain medication, after a Washington federal judge ruled midtrial that a key piece of evidence shouldn't have been shown to jurors.
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January 24, 2025
Feds' Madigan Theory 'Doesn't Line Up,' His Atty Tells Jury
Counsel for former Illinois House Speaker Michael Madigan told an Illinois federal jury Friday that prosecutors attempting to convict him of racketeering have painted an "incomplete and misleading" picture of a crooked politician at trial, but have failed to meet their burden to prove he ever acted with corrupt intent or engaged in a "this for that" exchange for his official action.
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January 24, 2025
Tech Co. Founder Gets 2.5 Years In $14M Payroll Tax Case
A New Hampshire federal judge sentenced the founder of a technology startup to two and a half years in prison for failing to pay more than $14 million in employment and personal taxes, granting a request from prosecutors who said incarceration was the only meaningful sentence.
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January 24, 2025
Law Students Scramble As Federal Gov't Yanks Job Offers
Law students across the country are scrambling to figure out their next steps after a range of federal agencies yanked job and internship offers this week because of the new hiring freeze imposed by the Trump administration.
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January 24, 2025
Netflix Urges Colo. Court To Reject Tax On Streaming Video
Netflix subscriptions are not tangible personal property that is subject to Colorado sales tax, the company told a state appeals court, urging it to uphold a district court decision.
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January 24, 2025
UK Gov't Launches Review Of HMRC Loan Charge
HM Treasury has launched a review into the U.K. tax authority's loan charge targeting individuals who incurred hefty tax bills after signing up for disguised remuneration schemes, a move critics claim has unfairly hit tens of thousands of contractors.
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January 24, 2025
Hunter Biden Pans IRS Agents' Appeal To Enter Privacy Suit
Hunter Biden urged the D.C. Circuit to affirm a ruling preventing the IRS agents he has accused of improperly revealing his tax return information from intervening in his privacy suit against the U.S. government, saying the court should reject their claims about the importance of their participation.
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January 24, 2025
Taxation With Representation: Latham, Simpson Thacher
In this week's Taxation With Representation, a Brookfield private real estate fund acquires Divvy Homes' property portfolio and platform, Kantar Group proposes the sale of Kantar Media, and an Ares Management-led group buys a majority of Form Technologies Inc.'s common equity.
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January 24, 2025
Former Mass. Transit Facilities Engineer Admits $8.5M Fraud
A former facilities engineer for the private company that runs Massachusetts' commuter rail lines has pled guilty to defrauding his former employer of approximately $8.5 million through a pair of schemes and failing to report the funds on his income tax returns.
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January 23, 2025
Madigan's Law Firm Profits Drove Corrupt Acts, Jury Told
Former Illinois House Speaker Michael Madigan's ownership interest in his Chicago law firm and his entitlement to 50% of its profits was behind his efforts to extort property tax business from developers who needed approvals from state and local government for their projects, prosecutors told an Illinois federal jury Thursday.
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January 23, 2025
Corporate Transparency Law Remains Flanked By Threats
The Corporate Transparency Act is facing threats across the branches of government despite the U.S. Supreme Court pausing a nationwide injunction on it Thursday, with another universal injunction in place, other court battles underway and some Republican lawmakers targeting the law.
Expert Analysis
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When US Privilege Law Applies To Docs Made Outside The US
As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.
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Impact Of Corporate Transparency Act Ambiguity On Banks
Even though banks generally needn't file beneficial ownership information reports, financial institutions must continue to monitor the status of the Corporate Transparency Act and understand its requirements in case the nationwide injunction that was issued against the CTA earlier this month is overturned, say attorneys at Armstrong Teasdale.
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What 2024 Trends In Marketing, Comms Hiring Mean For 2025
The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends — from changes in the C-suite to lateral move challenges — providing clues for what’s to come in the year ahead, says Ben Curle at Ambition.
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Series
Group Running Makes Me A Better Lawyer
The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.
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Opinion
6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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The Current State Of Play Around Corporate Transparency Act
Although a Texas court preliminarily enjoined enforcement of the Corporate Transparency Act and paused an impending Dec. 31 reporting deadline, multiple states have similar requirements, so companies should continue to monitor compliance obligations regardless of the CTA's constitutionality, say attorneys at Simpson Thacher.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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Opinion
Congress Should Expand Investment Options For 403(b)s
Lawmakers should pass pending legislation to give 403(b) plan participants access to collective investment trusts, leveling the playing field for public sector retirement investors by giving them an investment option their private sector counterparts have had for decades, says Jason Levy at Great Gray Trust Company.
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Think Like A Lawyer: 1 Type Of Case Complexity Stands Out
In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a “sliding scale” approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.
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Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity
Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.
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Series
Gardening Makes Me A Better Lawyer
Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.
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Litigation Inspiration: Reframing Document Review
For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.
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Rank-And-File DOJ Attorneys Will Keep Calm And Carry On
Career prosecutors at the U.S. Department of Justice often pride themselves on their ability to remain apolitical in order to ensure consistency and keep the department’s mission afloat, and the incoming Trump administration is unlikely to upend this tradition, says Michael Landman at Bird Marella.
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California Supreme Court's Year In Review
Attorneys at Horvitz & Levy highlight notable decisions on major questions from the California Supreme Court's last term, including voter initiatives, hostile work environment and the economic loss rule.
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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.