Chevron's Fall Places State Tax Rules Under Microscope
Eaton Needs To Cough Up Docs In IRS Probe, US Says
Top Federal Tax Cases Of 2024: Midyear Report
Chevron's Fall Places State Tax Rules Under Microscope
State tax regulations could face increased judicial scrutiny in light of the U.S. Supreme Court's decision to jettison the decades-old Chevron deference doctrine, which instructed courts to defer to federal agencies' interpretations of ambiguous laws.
Eaton Needs To Cough Up Docs In IRS Probe, US Says
The U.S. government urged an Ohio federal judge to order power management multinational Eaton to produce records on certain European employees in response to an IRS investigation, arguing the company's contention the court lacks jurisdiction is "pure sophistry."
Top Federal Tax Cases Of 2024: Midyear Report
In the first half of the year, the U.S. Supreme Court torpedoed the Chevron doctrine of judicial deference to federal agencies and affirmed the denial of a tax refund to a business owner's estate related to a life insurance payout, while the U.S. Tax Court reversed itself regarding a rule for conservation easements. Here, Law360 reviews federal court decisions from the past six months that tax attorneys should know.
Federal More
A New Jersey couple was ordered to pay $2.5 million in penalties and interest for failing to report their foreign bank accounts in Switzerland, according to court documents.
The Eighth Circuit affirmed a ruling that prevents public disclosure of the IRS' methods for verifying callers' identities, rejecting on Tuesday a retired Harvard professor's argument that the documents detail... (more story)
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how ... (more story)
The U.S. Supreme Court vacated and remanded on Tuesday a decision denying a whistleblower award to a tipster who reported an improper $60 million tax deduction to the IRS, saying the D.C. Circuit should recons... (more story)
Two Internal Revenue Service whistleblowers who Hunter Biden said wrongfully disclosed his confidential tax information should not be allowed to intervene in his suit against the U.S. government, the governmen... (more story)
A Pennsylvania man was sentenced to approximately 12 years in prison following his convictions for bank fraud, aggravated identity theft and unlawful monetary transactions related to theft of federal COVID-19 ... (more story)
State & Local More
Conn. Remodels Taxes On Cars, Insurance Co. Assessments
Connecticut will remodel its motor vehicle tax regime, exempt some taxpayers from paying interest on underpayments of corporation business and personal income taxes and adjust the calculation of assessments on... (more story)
Tax Consultant's Claim To Commissions Brought In Bad Faith
A California state appeals court found a wage and hour lawsuit against a tax credit firm was brought in bad faith because the worker lacked evidence to support her allegations, upholding a lower court's ruling... (more story)
GoDaddy Shareholders Balk At Further Chancery Delay
A special litigation committee that GoDaddy Inc. created in September 2023 in response to shareholder litigation over an $850 million tax asset buyout has 30 days to convince a Delaware Chancery Court judge th... (more story)
Womble Bond Adds Int'l Tax Partner In Houston Office
Womble Bond Dickinson has added a partner to its corporate and securities group in Houston who will focus on tax law and cross-border transactions, the firm announced.
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, i... (more story)
Nelson Mullins Adds 9-Attorney Tax Team In Houston
Nelson Mullins Riley & Scarborough LLP announced Monday that five partners and four other tax attorneys have joined its new Houston office from Chamberlain Hrdlicka White Williams & Aughtry, including a former... (more story)
Longtime IRS Trial Atty Joins Jones Day In NY
An attorney who spent his entire career at the IRS has moved to private practice at Jones Day, the firm said on Monday.
NJ Lawmakers OK Corp. Tax Hike, Expansion Of Tax Credits
New Jersey would reinstate the nation's highest corporate income tax rate on large corporations, offer tax incentives for capital investments from artificial intelligence companies and relax employee location ... (more story)
Less Power To The People: SALT In Review
Starting with a measure that won't appear on the California ballot in November, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Connecticut will remodel its motor vehicle tax regime, exempt some taxpayers from paying interest on underpayments of corporation business and personal income taxes and adjust the calculation of assessments on... (more story)
A California state appeals court found a wage and hour lawsuit against a tax credit firm was brought in bad faith because the worker lacked evidence to support her allegations, upholding a lower court's ruling... (more story)
A special litigation committee that GoDaddy Inc. created in September 2023 in response to shareholder litigation over an $850 million tax asset buyout has 30 days to convince a Delaware Chancery Court judge th... (more story)
Womble Bond Dickinson has added a partner to its corporate and securities group in Houston who will focus on tax law and cross-border transactions, the firm announced.
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, i... (more story)
Nelson Mullins Riley & Scarborough LLP announced Monday that five partners and four other tax attorneys have joined its new Houston office from Chamberlain Hrdlicka White Williams & Aughtry, including a former... (more story)
An attorney who spent his entire career at the IRS has moved to private practice at Jones Day, the firm said on Monday.
New Jersey would reinstate the nation's highest corporate income tax rate on large corporations, offer tax incentives for capital investments from artificial intelligence companies and relax employee location ... (more story)
Starting with a measure that won't appear on the California ballot in November, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
International More
Hungary Envoy Praises Its Low Taxes After PM Slams Min. Tax
Hungary's representative to the European Union said Tuesday that Budapest's low tax rate was instrumental in bolstering the business environment in the country as he responded to a question about his prime min... (more story)
Judge Acquits Firm Co-Founder, 27 Others Over Panama Papers
When authorities raided the now defunct Panamanian law firm Mossack Fonseca as part of their investigation into the international money laundering case known as the Panama Papers, they didn't follow the chain ... (more story)
Firm Can't Cast Off $1.5M Tax Levy In Alter Ego Case
A Baltimore law firm can't stop a $1.5 million tax levy that allowed the IRS to freeze its bank account, a Maryland federal judge ruled, saying the firm failed to prove at this point in its suit that one of it... (more story)
Chevron's End Is Just The Start For Energized Agency Foes
By knocking down a powerful precedent that has towered over administrative law for 40 years, the U.S. Supreme Court's right wing Friday gave a crowning achievement to anti-agency attorneys. But for those attor... (more story)
In Chevron Case, Justices Trade One Unknown For Another
The U.S. Supreme Court's decision to overrule a decades-old judicial deference doctrine may cause the "eternal fog of uncertainty" surrounding federal agency actions to dissipate and level the playing field in... (more story)
IRS Finalizes Broker Rules For Digital Asset Sales
Brokers of digital assets such as cryptocurrency and non-fungible tokens will face tax reporting requirements for the first time similar to those for brokers of securities and other financial instruments under... (more story)
UK Appeals Court Rules Businesses Can't Claim Allowances
Two U.K. businesses may not claim capital allowances from a transaction that was carried out as part of a marketed tax avoidance scheme, a British appeals court ruled Friday, overturning a lower court's decision.
Hungary's representative to the European Union said Tuesday that Budapest's low tax rate was instrumental in bolstering the business environment in the country as he responded to a question about his prime min... (more story)
When authorities raided the now defunct Panamanian law firm Mossack Fonseca as part of their investigation into the international money laundering case known as the Panama Papers, they didn't follow the chain ... (more story)
A Baltimore law firm can't stop a $1.5 million tax levy that allowed the IRS to freeze its bank account, a Maryland federal judge ruled, saying the firm failed to prove at this point in its suit that one of it... (more story)
By knocking down a powerful precedent that has towered over administrative law for 40 years, the U.S. Supreme Court's right wing Friday gave a crowning achievement to anti-agency attorneys. But for those attor... (more story)
The U.S. Supreme Court's decision to overrule a decades-old judicial deference doctrine may cause the "eternal fog of uncertainty" surrounding federal agency actions to dissipate and level the playing field in... (more story)
Brokers of digital assets such as cryptocurrency and non-fungible tokens will face tax reporting requirements for the first time similar to those for brokers of securities and other financial instruments under... (more story)
Two U.K. businesses may not claim capital allowances from a transaction that was carried out as part of a marketed tax avoidance scheme, a British appeals court ruled Friday, overturning a lower court's decision.