Tax

  • March 18, 2024

    Trump Says He Can't Secure Bond For $465M Fraud Judgment

    Former President Donald Trump told a New York appellate court Monday that posting bond while he appeals a $465 million judgment against him and his business empire for allegedly defrauding banks and insurers is a "practical impossibility."

  • March 18, 2024

    Ore. Tax Court Rejects Valuation Corrections By County

    The Oregon Tax Court agreed with a residential property owner that a county assessor's corrections of a valuation due to errors were not valid, restoring the valuation to the property's real market value before the corrections.

  • March 18, 2024

    Md. Senate OKs Letting Only Owners Appeal Tax Values

    Maryland would allow property tax assessment appeals only by the owners of the properties in question under emergency retroactive legislation approved by the state Senate.

  • March 18, 2024

    Feds Want 12 Years For Ex-Broker In Fraud, Tax Case

    A former mortgage broker whose decadelong fraud scheme tricked more than a dozen people out of $8 million and caused more than $3 million in tax losses should spend 12 and a half years in prison, the government told a Rhode Island federal court.

  • March 18, 2024

    Mass. Condo Owners Didn't Prove Property Was Overvalued

    Two Massachusetts property owners failed to prove their condominium was overvalued in the 2022 tax year because they didn't account for differences in the comparable properties they offered, the state tax board said in a decision released Monday.

  • March 15, 2024

    Colo. Judge Iffy On State's Logic For Netflix Sales Tax

    A Colorado state judge Friday seemed skeptical of the state's arguments for why a Netflix subscription should be subject to sales tax, commenting that she has no illusions of owning "Bridgerton" when streaming the show online.

  • March 15, 2024

    Colo. OKs Local-Option Property Tax Credits

    Local governments in Colorado will be authorized to grant property tax incentives to encourage improvement in areas of local concern under legislation signed into law Friday by Democratic Gov. Jared Polis.

  • March 15, 2024

    Ohio Ambulance Co. Says HR Firm Botched Tax Returns

    An Ohio ambulance company accused its human resources management firm of failing to accurately prepare and submit amended tax returns that would have allowed the company to claim pandemic-era tax credits, according to a complaint filed in an Ohio federal court.

  • March 15, 2024

    Justices Told Estate Incorrectly Taxed On Insurance Payout

    The federal government's argument that the $3.5 million in life insurance proceeds a company used to redeem a deceased owner's shares increased both the company's value and its dead owner's estate tax liability ignores "economic reality," the estate told the U.S. Supreme Court on Friday.

  • March 15, 2024

    IRS Asked To Change Effective Date In Part-Time Worker Rule

    The effective date for proposed IRS rules on participation of long-term, part-time employees in retirement plans would violate administrative law if not changed in final regulations, an attorney speaking for a benefits organization told the agency and the U.S. Treasury Department at a hearing Friday.

  • March 15, 2024

    Trump's NY Trial Delayed After Late Document Dump

    A New York judge on Friday postponed for at least several weeks the Manhattan district attorney's hush money trial against Donald Trump, citing a last-minute deluge of discovery from federal prosecutors.

  • March 15, 2024

    Feds Want 6 Years For 'Poster Boy' Of Mass. Police Corruption

    Boston federal prosecutors have recommended nearly 6 years in prison for a former Massachusetts trooper who they say is the living embodiment of police misconduct in light of his trial convictions for stealing overtime pay, lying on his taxes and cheating to get student financial aid for his son.

  • March 15, 2024

    Attys, Broker Fight For Advice-Of-Counsel Defense In Tax Trial

    Two St. Louis attorneys and a North Carolina insurance agent staring down criminal tax charges in North Carolina federal court said the government can't prevent them from relying on advice-of-counsel defenses at their upcoming trial, arguing they've handed over all the information prosecutors need to prepare.

  • March 15, 2024

    DOL Says PBGC Overpayment Returns Don't Violate ERISA

    The U.S. Department of Labor's employee benefits arm says it won't take enforcement action against pension plans that return overpayments made by the nation's pension backstop agency during the COVID-19 pandemic, as Congress continues to probe an accidental $127 million overpayment to a Teamsters plan.

  • March 15, 2024

    $3B In Employment Tax Credits Claimed In Scheme, Feds Say

    Three New Jersey men who said they were leaders of religious and charitable organizations fraudulently claimed nearly $3 billion in employment tax credits from a federal pandemic loan program, according to a criminal complaint filed in New Jersey federal court.

  • March 15, 2024

    Direct Hit On Tax Regs Unlikely If Justices Ditch Chevron

    A decision from the U.S. Supreme Court later this year on two cases challenging the so-called Chevron doctrine, which gives federal agencies wide latitude to interpret ambiguous laws, isn't likely to immediately affect tax regulations.

  • March 15, 2024

    Colombia, Norway Aim To Harmonize UN And OECD Tax Work

    Colombia and Norway are aiming to bring the best aspects of the OECD's tax work into negotiations at the United Nations while drafting a framework convention on global tax cooperation, officials said Friday during a conference in Paris.

  • March 14, 2024

    Tupperware Pans Investor Suit Over 'Small' Accounting Errors

    Tupperware wants to dismiss a proposed class action accusing it of damaging investors by knowingly issuing misleading financial reports, arguing the suit fails to show it acted with ill intent when releasing the allegedly inaccurate information to the public, and that its restatements did not actually hurt shareholders.

  • March 14, 2024

    Taiwanese Gov't Proposes Filing Of Electronic Invoicing

    The Taiwan government's executive branch approved a draft amendment to the island's Value-added and Non-value-added Business Tax Act that would require businesses to file electronic invoices on an open database, the Ministry of Finance announced Thursday.

  • March 14, 2024

    Economists Suggest UN Tackle CFC Rules, Other Tax Policies

    Governments should look at coordinating globally on controlled foreign corporation rules, economic substance requirements, financial transparency, excess profits taxes, inheritance taxes and wealth taxes in negotiations on the nascent United Nations tax convention, economists said Thursday at a conference in Paris.

  • March 14, 2024

    Wealth Tax, Stiff Biz Tax Could Fund Climate Fight, Study Says

    Governments could generate the $500 billion experts think developing countries would need annually to fund the fight against climate change with a 2% global minimum tax on billionaires and a 20% global minimum tax on corporations with no exclusions, the EU Tax Observatory said Thursday.

  • March 14, 2024

    Trump's NY Trial May Be Delayed After Document Dump

    The Manhattan district attorney on Thursday proposed delaying former President Donald Trump's hush money trial by up to 30 days after federal prosecutors recently disclosed tens of thousands of pages of documents related to the past criminal case of a key witness, ex-Trump attorney Michael Cohen.

  • March 14, 2024

    Ore. Skateboard Church Denied Tax Break Over Late Purchase

    A tax-exempt Oregon church serving Portland skateboarders is not entitled to a property tax exemption because it did not own its property before the statutory deadline for commencing its charitable activities, the Oregon Tax Court has decided.

  • March 14, 2024

    Trump Hush Money 'Half Mary': Blame The Lawyers, Sort Of

    Donald Trump's informal advice-of-counsel defense in the criminal hush money case in New York is a potentially risky, long-shot attempt at "having it both ways" by blaming his lawyers without having to testify or divulge details of their relationship, experts say.

  • March 14, 2024

    EU Law No Hindrance To Interest Rule, Says ECJ Adviser

    European Union law does not preclude national legislation restricting the ability of taxpayers to deduct interest on a loan that is taken out for non-commercial reasons, an adviser to the bloc's Court of Justice found Thursday.

Expert Analysis

  • Understanding Discovery Obligations In Era Of Generative AI

    Excerpt from Practical Guidance
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    Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.

  • The Case For Post-Bar Clerk Training Programs At Law Firms

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    In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.

  • IRS Proposal May Help Clarify Donor-Advised Fund Excise Tax

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    Recently proposed regulations provide important clarifications of the Internal Revenue Code's excise tax on donor-advised fund distributions by providing detailed definitions of key terms and addressing some of the open issues related to their operation and administration, say attorneys at Morgan Lewis.

  • Ohio Voters Legalize Cannabis — What Comes Next?

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    This month, voters approved a citizen-initiated statute that legalizes marijuana for recreational use in Ohio, but the legalization timeline could undergo significant changes at the behest of the state's lawmakers, say Daniel Shortt and David Waxman at McGlinchey Stafford.

  • Opinion

    A Telecom Attorney's Defense Of The Chevron Doctrine

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    The Chevron doctrine, which requires judicial deference to federal regulators, is under attack in two U.S. Supreme Court cases — and while most telecom attorneys likely agree that the Federal Communications Commission is guilty of overrelying on it, the problem is not the doctrine itself, says Carl Northrop at Telecommunications Law Professionals.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

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    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Mo. Solar Projects Need Clarity On Enterprise Zone Tax Relief

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    In Missouri, enhanced enterprise zones offer tax abatements that could offset the cost of solar project infrastructure, but developers must be willing to navigate uncertainty about whether the project is classified as real property, say Lizzy McEntire and Anna Kimbrell at Husch Blackwell.

  • AI Can Help Lawyers Overcome The Programming Barrier

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    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • What To Expect After Colo. Nixes Special Standing Rules

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    Two recent Colorado Supreme Court decisions have abandoned a test to preclude standing in lawsuits challenging government decisions brought by subordinate government entities, which will likely lead to an admixture of results, including opening the door to additional legal challenges between government entities, says John Crisham at Crisham & Holman.

  • Preparing Law Students For A New, AI-Assisted Legal World

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    As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.

  • General Counsel Need Data Literacy To Keep Up With AI

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    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

  • Kentucky Tax Talk: Clash Over Industrial Supplies Exemption

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    Recent legislative testimony in Kentucky may cause another battle over the state's sales tax exemptions for industrial supplies, even though the testimony appears to mischaracterize the impact of a major state court ruling that upheld the exemptions, say attorneys at Frost Brown.

  • Navigating Discovery Of Generative AI Information

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    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • How Fla. Bankruptcy Ruling May Affect Equity Owners

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    A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.

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