Federal Tax Policies To Watch In The Rest Of The Year
As Congress returns to Washington, D.C., after the August recess, proposals including disaster tax relief and an agreement to provide tax treaty-like benefits to Taiwanese residents could be readied to be included in year-end legislation. Here, Law360 examines federal tax policies to watch during the last four months of 2024.
Pipeline Co. Renews NJ Partnership Fee Fight In State Court
A pipeline business opted not to seek U.S. Supreme Court review of a ruling blocking it from challenging New Jersey's partnership filing fee in federal court, choosing instead to revive its case in the state tax court, the company's attorney confirmed Friday.
4 Key Complications 3 Years After Pillar 2
Three years ago, countries around the world outlined an agreed-upon minimum corporate tax system in an eight-page document that couldn't have foreseen the full scope of complications that later emerged during implementation, including frictions with existing tax laws. Here, Law360 looks at four key issues that countries and multinational corporations are grappling with as Pillar Two turns three.
Federal More
The Second Circuit declined to revive one of two proposed class actions brought by solar companies against National Grid alleging it illegally charged them for taxes in an effort to dampen competition from ren... (more story)
The leader of a scheme to steal the identities of taxpayers and pose as their accountants to commit $111 million in tax fraud was sentenced Friday to more than 14 years in prison by a Texas federal judge, acco... (more story)
With the professional football season just barely underway, and in the wake of a few bombshell betting scandals, IRS Criminal Investigation is reminding the public to bet safely and legally, warning that illeg... (more story)
About 21,000 wealthy taxpayers who had failed to file tax returns since 2017 have paid $172 million in taxes under a project the Internal Revenue Service launched in February, the agency and the U.S. Departmen... (more story)
In this week's Taxation With Representation, Verizon reaches a deal to absorb Frontier in a deal worth $20 billion, First Majestic agrees to buy Gatos Silver for $970 million, and Epam Systems inks a $630 mill... (more story)
A retired business owner who the U.S. government said removed his mailbox to avoid receiving letters from the IRS owes nearly $1.9 million in unpaid tax liabilities, some stemming from pretending to operate hi... (more story)
Baker McKenzie has hired a tax partner in Washington, D.C., from Vialto Partners, a business consulting firm, the firm announced Thursday.
State & Local More
Calif. Gov. Targets Hemp Intoxicants With Emergency Ban
California Gov. Gavin Newsom on Friday announced emergency regulations banning products derived from industrial hemp that contain any intoxicating cannabinoids, and setting an age minimum of 21 years to purcha... (more story)
NY Tax Dept. Urges Nix Of Paychex Apportionment Challenge
Paychex's bid to invalidate a New York state income apportionment rule is premature because an audit of the company isn't yet final, the state's tax agency argued Friday as it urged a state court to toss the case.
NY Strip Club Owner Appeals $3.9M Tax To High Court
A New York law requiring corporations to pay disputed sales taxes before seeking judicial review violates the U.S. Constitution and state constitution, a strip club owner seeking an appeal of a $3.9 million as... (more story)
Colo. Counties Sue State Over $25M Mining Tax Fund Transfer
Seven Colorado counties filed a lawsuit in Denver District Court on Thursday against the state over legislation transferring $25 million in revenue generated by a tax on mineral extraction, wiping out a fund o... (more story)
Local Taxes And Repercussions: SALT In Review
From a study of local taxes to news that corporations will relocate to tax-friendlier places, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Unconstitutionality Of Transparency Act Clear, 11th Circ. Told
A small business group and one of its members have told the Eleventh Circuit that an Alabama federal judge correctly ruled that the Corporate Transparency Act is unconstitutional, so there was no need for them... (more story)
Holland & Knight Appoints Former Perkins Coie Tax Partner
Holland & Knight LLP appointed a partner to its Portland, Oregon, office who previously served as a partner in energy tax law for Perkins Coie LLP, the firm announced.
Financial Incentives May Alleviate Affordable Housing Crisis
There is a wide array of financial incentives and assistance that the government can provide to both real estate developers and individuals to chip away at the housing affordability problem from multiple angle... (more story)
Why Attorneys Should Consider Community Leadership Roles
Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and th... (more story)
California Gov. Gavin Newsom on Friday announced emergency regulations banning products derived from industrial hemp that contain any intoxicating cannabinoids, and setting an age minimum of 21 years to purcha... (more story)
Paychex's bid to invalidate a New York state income apportionment rule is premature because an audit of the company isn't yet final, the state's tax agency argued Friday as it urged a state court to toss the case.
A New York law requiring corporations to pay disputed sales taxes before seeking judicial review violates the U.S. Constitution and state constitution, a strip club owner seeking an appeal of a $3.9 million as... (more story)
Seven Colorado counties filed a lawsuit in Denver District Court on Thursday against the state over legislation transferring $25 million in revenue generated by a tax on mineral extraction, wiping out a fund o... (more story)
From a study of local taxes to news that corporations will relocate to tax-friendlier places, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
A small business group and one of its members have told the Eleventh Circuit that an Alabama federal judge correctly ruled that the Corporate Transparency Act is unconstitutional, so there was no need for them... (more story)
Holland & Knight LLP appointed a partner to its Portland, Oregon, office who previously served as a partner in energy tax law for Perkins Coie LLP, the firm announced.
There is a wide array of financial incentives and assistance that the government can provide to both real estate developers and individuals to chip away at the housing affordability problem from multiple angle... (more story)
Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and th... (more story)
International More
Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with th... (more story)
Ex-Defense Contractor Arrested In $350M Tax Evasion Case
A former defense contractor who, with his wife, is facing a 30-count indictment alleging they were involved in a decades-long scheme to defraud the U.S. government and avoid taxes on more than $350 million in ... (more story)
5 Tips To Succeed In A Master Of Laws Program And Beyond
As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful care... (more story)
Alvarez & Marsal Appoints Tax Experts As Managing Directors
Alvarez & Marsal Tax LLC appointed tax experts from Anderson and Deloitte as its new managing directors, the firm announced.
UK's Labour Gov't Urged To Raise Capital Gains Tax
The Labour government is facing calls to raise the capital gains tax despite financial firms advising investors to sell off their assets or even leave the United Kingdom over the possible tax hike.
Taxation With Representation: Kirkland, Paul Weiss, Squire
In this week's Taxation With Representation, Oneok reaches two agreements with energy infrastructure companies worth a total $5.9 billion, McKesson inks a $2.49 billion deal for a cancer center, and First Buse... (more story)
Neb. Justices Affirm Nix Of Berkshire Unit's Tax Deduction Bid
A Nebraska tax deduction for certain dividends doesn't apply to income repatriated under the 2017 federal tax overhaul, the state Supreme Court affirmed Friday in rejecting arguments from a Berkshire Hathaway ... (more story)
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with th... (more story)
A former defense contractor who, with his wife, is facing a 30-count indictment alleging they were involved in a decades-long scheme to defraud the U.S. government and avoid taxes on more than $350 million in ... (more story)
As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful care... (more story)
Alvarez & Marsal Tax LLC appointed tax experts from Anderson and Deloitte as its new managing directors, the firm announced.
The Labour government is facing calls to raise the capital gains tax despite financial firms advising investors to sell off their assets or even leave the United Kingdom over the possible tax hike.
In this week's Taxation With Representation, Oneok reaches two agreements with energy infrastructure companies worth a total $5.9 billion, McKesson inks a $2.49 billion deal for a cancer center, and First Buse... (more story)
A Nebraska tax deduction for certain dividends doesn't apply to income repatriated under the 2017 federal tax overhaul, the state Supreme Court affirmed Friday in rejecting arguments from a Berkshire Hathaway ... (more story)