Trump Trade Deals Do Little To Ease Importers' Concerns
President Donald Trump's recently announced framework trade deals offer new insight into tariff rates for several countries come Aug. 1, but experts say unanswered questions about those agreements and others still at large continue to stifle longer-term planning, leaving importers in uncertain territory.
Top International Tax Policy To Watch In 2nd Half Of 2025
The attempt by the U.S. to win an exemption for its companies from the 15% global minimum tax is the most consequential saga currently in international tax policy, but the tumultuous trade scene and anticipated guidance on Congress' tax code tinkering are also in the minds of tax professionals. Here, Law360 looks at what further changes are likely in the volatile global tax landscape during the second half of the year.
Trump Trade Deals Do Little To Ease Importers' Concerns
President Donald Trump's recently announced framework trade deals offer new insight into tariff rates for several countries come Aug. 1, but experts say unanswered questions about those agreements and others still at large continue to stifle longer-term planning, leaving importers in uncertain territory.
Ex-Credit Suisse Client Gets 2½ Years For Hiding $90M In Assets
A Florida federal judge on Friday sentenced a Colombian-American businesswoman and former Credit Suisse client to two-and-a-half years in prison for conspiring with family members to hide more than $90 million in assets from the IRS through a series of foreign bank accounts.
Top International Tax Policy To Watch In 2nd Half Of 2025
The attempt by the U.S. to win an exemption for its companies from the 15% global minimum tax is the most consequential saga currently in international tax policy, but the tumultuous trade scene and anticipated guidance on Congress' tax code tinkering are also in the minds of tax professionals. Here, Law360 looks at what further changes are likely in the volatile global tax landscape during the second half of the year.
Federal More
The Mayo Clinic qualifies as an "educational organization" under federal tax law, making it eligible for a tax exemption for such organizations and meriting a nearly $11.5 million refund, the Eighth Circuit sa... (more story)
The new federal tax deductions for tips and overtime pay will be extremely beneficial to working-class residents of Las Vegas, the House Ways and Means Committee heard from workers and others at a field hearin... (more story)
The One Big Beautiful Bill Act's no-tax-on-overtime provisions provide tax relief for employees who regularly work overtime and are nonexempt from the Fair Labor Standards Act, but reclassifying employees may ... (more story)
With its dramatic changes to energy tax credits, the One Big Beautiful Bill Act will reshape project financing and investment planning — and wind and solar developers, especially those in the early stages of p... (more story)
Michael Q. Cannon of Gibson Dunn & Crutcher LLP has been the lead attorney on several high-profile cases, including playing a key role in advising on the tax aspects of the world's largest merger and acquisiti... (more story)
In this week's Taxation With Representation, CC Capital and One Investment Management acquire Insignia Financial Ltd., catering giant Compass Group PLC acquires Dutch food and hospitality company Vermaat Groep... (more story)
A federal grand jury has charged an accountant with defrauding two law firms and other clients by selling them false tax benefits and pocketing more than $5 million from an account into which they made their p... (more story)
State & Local More
Nationwide Urges Mich. Justices To Let Unitary Tax Win Stand
Entities of Nationwide urged the Michigan Supreme Court to reject the state tax agency's arguments that the insurance company's affiliates are required to file taxes as separate entities instead of as a unitar... (more story)
6 Things To Know About Illinois' New Tax Landscape
Illinois' latest budget has altered the state's tax system for 2025 and beyond, including by offering three tax amnesty programs, making significant changes to corporate tax law and implementing a relatively n... (more story)
Delta Air Owes Property Tax On Intangibles, Ore. Justices Say
Oregon's taxation of the intangible property of Delta Air Lines is constitutional, the state's Supreme Court ruled Thursday, agreeing with the state tax department and reversing a decision by the state tax court.
Businesses Must Not Overlook Local Tax Nexus, Pros Warn
Recent efforts by home-rule cities and other local jurisdictions to broaden their taxing authority and nexus rules may lead to complications for multijurisdictional businesses, practitioners cautioned Thursday.
NJ Attys Warn RICO Case Revival Would 'Chill' Lawyering
The New Jersey State Bar Association told a Garden State appellate court that lawyers across the state will be chilled from zealously advocating for their clients if it revives the state's racketeering indictm... (more story)
Rising Star: McDermott's Michael Bruno
Michael Bruno of McDermott Will & Emery LLP was tapped as lead tax counsel by two legendary athletes — Lionel Messi and Stephen Curry — for the rollouts of their respective beverage brands, earning him recogni... (more story)
NC Urges 4th Circ. Not To Block Vape Regs During Appeal
North Carolina officials are urging the Fourth Circuit to deny a bid by vape interests to block enforcement of a new state vaping regulation while they appeal their case, saying the plaintiffs have already tri... (more story)
Playing Baseball Makes Me A Better Lawyer
Playing baseball in college, and now Wiffle ball in a local league, has taught me that teamwork, mental endurance and emotional intelligence are not only important to success in the sport, but also to success ... (more story)
Fund Manager Drops Case Over NYC Tax ALJ Shortage
A New York fund manager that claimed in federal court that a shortage of administrative law judges in New York City's Tax Appeals Tribunal gave it no avenue for its assessment challenge has dropped the federal case.
Entities of Nationwide urged the Michigan Supreme Court to reject the state tax agency's arguments that the insurance company's affiliates are required to file taxes as separate entities instead of as a unitar... (more story)
Illinois' latest budget has altered the state's tax system for 2025 and beyond, including by offering three tax amnesty programs, making significant changes to corporate tax law and implementing a relatively n... (more story)
Oregon's taxation of the intangible property of Delta Air Lines is constitutional, the state's Supreme Court ruled Thursday, agreeing with the state tax department and reversing a decision by the state tax court.
Recent efforts by home-rule cities and other local jurisdictions to broaden their taxing authority and nexus rules may lead to complications for multijurisdictional businesses, practitioners cautioned Thursday.
The New Jersey State Bar Association told a Garden State appellate court that lawyers across the state will be chilled from zealously advocating for their clients if it revives the state's racketeering indictm... (more story)
Michael Bruno of McDermott Will & Emery LLP was tapped as lead tax counsel by two legendary athletes — Lionel Messi and Stephen Curry — for the rollouts of their respective beverage brands, earning him recogni... (more story)
North Carolina officials are urging the Fourth Circuit to deny a bid by vape interests to block enforcement of a new state vaping regulation while they appeal their case, saying the plaintiffs have already tri... (more story)
Playing baseball in college, and now Wiffle ball in a local league, has taught me that teamwork, mental endurance and emotional intelligence are not only important to success in the sport, but also to success ... (more story)
A New York fund manager that claimed in federal court that a shortage of administrative law judges in New York City's Tax Appeals Tribunal gave it no avenue for its assessment challenge has dropped the federal case.
International More
Russia Loses Bid To Nix Enforcement Of $63B Awards
A Singapore court on Friday denied Russia's bid to dodge litigation seeking the enforcement of more than $63 billion in arbitral awards issued to former investors in Yukos Oil Co. 11 years ago, rejecting the K... (more story)
How Cos. In China Can Tailor Compliance Amid FCPA Shifts
The U.S. Department of Justice’s recently updated Foreign Corrupt Practices Act enforcement guidelines create a fluid business environment for companies operating in China that will require a customized compli... (more story)
Rising Star: Freshfields' Joe Soltis
Joe Soltis of Freshfields LLP has advised companies on several multibillion-dollar transactions, including Cencora's $4.6 billion acquisition of Retina Consultants of America, earning him a spot among the tax ... (more story)
UK Payroll Co. Dodges £2.1M Penalty In VAT Fraud Case
A payroll company isn't liable for a penalty of £2.1 million ($2.8 million) and can claim a deduction on the £7.1 million in value-added tax that was lost to fraud by a missing trader, a Manchester tribunal ruled.
Katten Welcomes Ex-Gibson Dunn Tax Pro In New York
Katten Muchin Rosenman LLP announced on Tuesday that it has added a former Gibson Dunn & Crutcher LLP of counsel to its transactional tax planning practice, noting her extensive experience in the finance space.
Trump Says US Has Reached 'Exciting' Trade Deal With Japan
President Donald Trump on Tuesday said the United States has entered into a "massive" trade deal with Japan under which Japan will "open their country to trade, including cars and trucks, rice and certain othe... (more story)
Trump Announces Framework For Indonesia Trade Deal
Indonesian goods entering the U.S. will face a 19% tariff beginning Aug. 1 as U.S. exports will benefit from a series of tariff reductions and removal of certain trade barriers by Indonesia, according to new d... (more story)
A Singapore court on Friday denied Russia's bid to dodge litigation seeking the enforcement of more than $63 billion in arbitral awards issued to former investors in Yukos Oil Co. 11 years ago, rejecting the K... (more story)
The U.S. Department of Justice’s recently updated Foreign Corrupt Practices Act enforcement guidelines create a fluid business environment for companies operating in China that will require a customized compli... (more story)
Joe Soltis of Freshfields LLP has advised companies on several multibillion-dollar transactions, including Cencora's $4.6 billion acquisition of Retina Consultants of America, earning him a spot among the tax ... (more story)
A payroll company isn't liable for a penalty of £2.1 million ($2.8 million) and can claim a deduction on the £7.1 million in value-added tax that was lost to fraud by a missing trader, a Manchester tribunal ruled.
Katten Muchin Rosenman LLP announced on Tuesday that it has added a former Gibson Dunn & Crutcher LLP of counsel to its transactional tax planning practice, noting her extensive experience in the finance space.
President Donald Trump on Tuesday said the United States has entered into a "massive" trade deal with Japan under which Japan will "open their country to trade, including cars and trucks, rice and certain othe... (more story)
Indonesian goods entering the U.S. will face a 19% tariff beginning Aug. 1 as U.S. exports will benefit from a series of tariff reductions and removal of certain trade barriers by Indonesia, according to new d... (more story)