Taxation – Page 5 – Legal News Feed

Bloomberg Law

California Courts Lead Nation in Defining Legal Status and Accountability of Decentralized Autonomous Organizations

Pieter Gunst10 months ago04 mins

The state of California is at the forefront of a legal exploration regarding the rights and liabilities of Decentralized Autonomous Organizations (DAOs). These blockchain-based entities, characterized by their decentralized nature and governed by smart contracts, face unique challenges in existing legal frameworks. As DAOs become increasingly prevalent, the need to clearly define their legal status…

Jurist

Federal Appeals Court Rules Trump’s Tariffs Exceeded Presidential Authority

Pieter Gunst10 months ago03 mins

In a recent decision, the US Court of Appeals for the Federal Circuit affirmed that President Donald Trump’s imposition of certain tariffs exceeded the authority granted to the executive branch. The court highlighted that the International Emergency Economic Powers Act (IEEPA) did not provide the president with the power to levy tariffs as he had…

Bloomberg Law

Taylor Swift and Travis Kelce: Navigating Tax Strategies in High-Profile Wealth Management

Pieter Gunst10 months ago03 mins

As Taylor Swift and Travis Kelce’s high-profile relationship continues to capture public attention, it also highlights the financial implications of their combined wealth. Both Swift, a global music icon, and Kelce, an NFL star, possess substantial fortunes, raising questions about effective tax strategies to safeguard their assets. For celebrities and high-net-worth individuals like Swift and…

Bloomberg Law

Trump Administration’s Fiscal Federalism: States Confront New Financial Realities

Pieter Gunst11 months ago04 mins

The Trump administration’s approach to fiscal federalism has prompted significant shifts in the dynamics between federal and state governments, leading states to face difficult financial decisions. The administration’s policies, emphasizing a reduction in federal oversight and responsibility, have required states to become more autonomous in managing a variety of services traditionally supported by federal funds….

Bloomberg Law

IRS Scrutiny of Clean Energy Credits Under Trump Era Tax Law Sparks Industry Concern

Pieter Gunst11 months ago03 mins

In recent discussions surrounding the potential revision of clean energy credits, legal professionals are expressing concerns about the implications of being sharply scrutinized under the tax system influenced by the Trump administration’s Tax Cuts and Jobs Act of 2017. This apprehension draws attention to the risk of these credits being targeted by the IRS, potentially…

Bloomberg Law

Loeb & Loeb LLP Strengthens Tax Practice with Addition of Natan Leyva in Washington, DC

Pieter Gunst11 months ago02 mins

Loeb & Loeb LLP has announced the addition of Natan Leyva as a tax partner in its Washington, DC office. Leyva’s arrival marks a strategic enhancement to the firm’s capabilities in the nation’s capital, underscoring its commitment to strengthening its tax practice. Bloomberg Law highlights this expansion as part of Loeb & Loeb’s ongoing growth…

Law.com

Bipartisan Push for Cannabis Banking Reform Gains Momentum in U.S. Congress

Pieter Gunst11 months ago05 mins

A bipartisan coalition of 32 state attorneys general has urged Congress to pass the Secure and Fair Enforcement Regulation (SAFER) Banking Act of 2025, aiming to provide legal clarity for financial institutions serving state-regulated cannabis businesses. This initiative seeks to address public safety concerns and enhance states’ abilities to collect taxes and conduct regulatory oversight….

Law360

Hodgson Russ Enhances State and Local Tax Practice with Experienced New York Specialists

Pieter Gunst11 months ago04 mins

Hodgson Russ LLP has expanded its state and local tax (SALT) practice by welcoming two seasoned professionals with extensive backgrounds in New York’s complex tax landscape. These additions are anticipated to bolster the firm’s capacity to navigate intricate tax regulations and policies impacting businesses in New York City and beyond. You can read more about…

Bloomberg Law

Osler Strengthens Tax Practice with the Return of Laura Scheim as Partner in Montreal

Pieter Gunst11 months ago03 mins

Osler, Hoskin & Harcourt LLP, the renowned Canadian law firm, announced the return of Laura Scheim as a tax partner in their Montreal office. Scheim’s reinstatement at the firm is poised to bolster its tax advisory services, particularly amidst shifting global tax regimes and increasing regulatory complexities. Scheim initially joined Osler as a summer student…

Bloomberg Law

Congressional Authority and Home Distilling: The Legal Power Debate

Pieter Gunst11 months ago03 mins

Recent discussions within the U.S. legal framework have raised a critical question: Does Congress possess the authority to ban home distilling? The answer to this legal query might significantly impact hobbyists and small-scale producers who engage in the distillation of spirits for personal use. A recent piece from Bloomberg Law delves into this topic by…

Law.com

White House Urges Congress for Unified Cryptocurrency Regulations Amid Global Developments

Pieter Gunst11 months ago03 mins

Amid the fast-evolving landscape of cryptocurrencies, the White House has emphasized the necessity for cohesive regulatory frameworks to ensure legal clarity in the United States. Recent reports highlight the administration’s renewed push for Congress to step in and harmonize regulations, eliminating the inconsistencies currently emerging from divergent policies set by various agencies. Matt Bisanz, a…

Law360

Dechert LLP Strengthens Tax Practice with Key PwC Hire in Washington Office Expansion

Pieter Gunst11 months ago03 mins

In a strategic move to bolster its presence in the financial services sector, Dechert LLP has announced the addition of a new partner to its Washington, D.C., office. The law firm has successfully recruited a specialist from PricewaterhouseCoopers (PwC), aiming to enhance its capabilities within the tax realm. This expansion underscores Dechert’s commitment to deepening…

Bloomberg Law

Jones Walker Strengthens State and Local Tax Expertise with Strategic Hire in Minnesota

Pieter Gunst12 months ago03 mins

In a strategic move designed to enhance its tax practice, Jones Walker has added state and local tax (SALT) attorney Kyle Brehm to its team in Minnesota. This expansion represents the firm’s commitment to deepening its expertise in an area critical to many of its clients’ needs. Brehm brings a formidable track record in SALT…

Law.com

Landmark Ruling Simplifies Cannabis Taxation for Local Governments and Industry

Pieter Gunst12 months ago03 mins

The evolving landscape of cannabis taxation has seen a significant development following a recent case that has provided clarity on the imposition of sales taxes by local governments. A majority decision has determined that only a single local government holds the authority to levy a 3% sales tax on retail sales of non-medical marijuana within…

Bloomberg Law

Navigating International Taxation: How Multinationals Leverage Risk Mapping for Compliance and Control

Pieter Gunst12 months ago03 mins

In the complex landscape of international taxation, multinationals face a myriad of challenges as they strive to manage their tax liabilities while ensuring compliance across various jurisdictions. One strategy gaining traction is the proactive mapping of risks to maintain control over their tax narrative. This tactic involves identifying potential pitfalls and opportunities in order to…

Bloomberg Law

Foley & Lardner Expands Tax Expertise with Addition of David Morris in Salt Lake City

Pieter Gunst12 months ago01 mins

Foley & Lardner LLP has announced the addition of David Morris as a partner in its taxation practice group in Salt Lake City. Morris joins the firm from Kirkland & Ellis LLP, where he specialized in tax matters. His move to Foley & Lardner is expected to enhance the firm’s tax capabilities in the region….

Bloomberg Law

Proposed 32% Tax on Litigation Funding Raises Concerns Over Impact on Whistleblower Cases and U.S. Revenue Recovery

Pieter Gunst1 year ago04 mins

A proposed 32% tax on litigation funding arrangements within a Senate bill draft is raising concerns among legal experts and government accountability advocates. This provision, introduced as an apparent measure to curtail mass tort litigation and raise federal revenue, could disproportionately affect U.S. taxpayers by undermining litigation financing—a key enabler of whistleblower initiatives under the…

Jurist

UN Conference Set to Tackle Tax Cooperation as Key to Advancing Global Human Rights and Development Goals

Pieter Gunst1 year ago03 mins

Human Rights Watch (HRW) is advocating for the United Nations (UN) Fourth International Conference on Financing for Development (FFD4) to prioritize international tax cooperation as a means of safeguarding human rights globally. In a statement, HRW emphasized that a fair taxation system is essential to protecting human rights and meeting the Sustainable Development Goals. The…

Bloomberg Law

Proposed 41% Tax on Litigation Funding Faces Doubts Over Effectiveness and Fairness

Pieter Gunst1 year ago03 mins

The recently proposed Tackling Predatory Litigation Funding Act, introduced both in the House and the Senate by Republican legislators, aims to levy a substantial 41% tax on profits earned through litigation financing. With the backdrop of rising scrutiny surrounding third-party financing in legal battles, the bill targets wealthy financiers, often foreign, who invest in lawsuits…

Bloomberg Law

Republican Rift Over Litigation Finance Tax Highlights Uncommon Political Alliances

Pieter Gunst1 year ago03 mins

The landscape of litigation finance has entered the political fray, showcasing an unusual alliance that defies conventional party lines. A proposed tax on litigation funding entities has sparked contention within core segments of the Republican Party, notably pitting some of former President Donald Trump’s populist supporters against the interests of established Big Business— a divide…

Law360

Senate Finance Committee’s Budget Proposal Targets Increased Taxation on Litigation Funding Profits

Pieter Gunst1 year ago01 mins

Senator Mike Crapo, R-Idaho, who chairs the Senate Finance Committee, has recently unveiled the committee’s new budget reconciliation proposal. A significant element of this proposal is its potential impact on third-party litigation funding, where changes to taxation are being considered. These reforms suggest an increase in taxes levied on profits generated from litigation funding activities….

Bloomberg Law

Litigation Finance Industry Mobilizes Against Proposed 41% Tax in U.S. Senate Bill

Pieter Gunst1 year ago03 mins

Litigation funders in the United States are actively opposing a legislative proposal within the Senate’s version of President Donald Trump’s latest bill, which introduces a 41% tax on proceeds from litigation finance. As per industry leaders, this tax provision poses a direct threat to the viability of lawsuit investments in the nation. The controversial measure…

Bloomberg Law

Ad Targeting Litigation Funding Surfaces Amidst Legislative Tax Proposals

Pieter Gunst1 year ago02 mins

In a recent development, a mysterious advertisement targeting the litigation funding sector surfaced on a sports podcast, coinciding with legislative efforts to impose a significant tax on profits in this industry. The ad, which aired on The Totally Football Show with James Richardson for audiences in the Washington area on June 1, criticizes alleged “shadowy…

Bloomberg Law

Derek Young Joins Bracewell LLP as Partner in New York Tax Department, Enhancing Advisory Capabilities

Pieter Gunst1 year ago02 mins

Derek Young has transitioned to Bracewell LLP as a partner in their New York-based tax department, as reported by Bloomberg Law. Prior to joining Bracewell, Young was associated with Baker Botts, marking a significant lateral move in his career trajectory. Young’s specialization lies in advising clients on the state and local tax ramifications associated with…

Bloomberg Law

Husch Blackwell Strengthens Private Wealth Team with Lorna McGeorge as Partner

Pieter Gunst1 year ago02 mins

In a strategic move to bolster its financial services and capital markets sector, Husch Blackwell has welcomed Lorna McGeorge as a partner. McGeorge will be an integral part of the firm’s private wealth team. McGeorge brings a wealth of experience, specializing in estate planning, probate law, and estate and gift taxation. Her practice extends to…