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…
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…
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…
The legal community in the United States faces an emerging challenge that threatens its foundational legitimacy—a reality that extends far beyond headline-grabbing events. As articulated by Kathleen Rubenstein, former executive director of the Skadden Foundation, the legal profession in America is confronted not just by the implications of actions taken by the Trump administration but…
In recent years, foreign nations have been attempting to expand their tax jurisdictions in ways that affect American companies, often under the pretext of global cooperation. These efforts have largely gone unnoticed outside of Washington, D.C., but are starting to draw attention. Countries such as France, Canada, and the UK have been implementing tax regulations…
The United States Supreme Court recently delivered a unanimous decision concerning a religious exemption challenge, rendering a pivotal verdict involving Catholic-affiliated charities and the state of Wisconsin’s unemployment tax program. The ruling, handed down this Thursday, has significant implications for religious organizations and their interactions with state taxation requirements. In a clear stance on the…
In the midst of ongoing negotiations over a significant budget bill, Senator Thom Tillis has introduced a piece of legislation that has triggered substantial concern within the litigation finance sector. Dubbed the Tackling Predatory Litigation Funding Act, this proposed bill seeks to impose a 41% tax on the profits yielded by third-party financers involved in…
In an era where tariffs remain unpredictable and are subject to frequent shifts, legal professionals in corporate environments must navigate what is increasingly being referred to as “tariff whiplash.” The onus is on tax departments to decide whether to absorb additional costs, apply price hikes, or clearly itemize tariffs separately on invoices for transparency. While…
The recent decision by the Bar Council of India (BCI) to liberalize the legal market has left many legal professionals seeking further clarification on key issues. Implemented on May 15, 2025, the updated rules are intended to open up market access, yet local and international law firms have expressed concerns over the absence of clear…
In a recent decision by the New York Supreme Court, the ruling has placed new emphasis on the responsibilities of online retailers regarding state income tax obligations, potentially setting a precedent for other states to follow. The case, American Catalog Mailers Association, v. Department of Taxation and Finance, represents a noteworthy judicial endorsement of regulations…
Hawaii’s decision to levy an 11% transient accommodations tax on cruise passengers spending time in port presents a complex legal challenge due to the nature of maritime law. Unlike stationary hotels, cruise ships often sail under foreign flags and are governed by international treaties, placing them squarely under federal maritime jurisdiction. The main legal hurdle…
This week, significant transactions were reported in the latest Taxation With Representation column. Blackstone’s acquisition of TXNM Energy stands as a major highlight, illustrating the continued interest in energy assets. Meanwhile, tech giant OpenAI has expanded its portfolio by acquiring io Products, a move that underscores the rapid evolution in the technology sector. Lumen Technologies…
Baker McKenzie has enhanced its focus on renewable energy tax law by re-appointing Keith Hagan as a partner in its North America tax practice, situated in Miami, according to an announcement by the firm. Hagan’s return marks a strategic move by Baker McKenzie to bolster its capabilities in advising on cross-border and domestic transactions, particularly…
In a contentious escalation of ongoing tensions between President Donald Trump and Harvard University, the President recently made a social media statement threatening to revoke Harvard’s tax-exempt status, which has sparked potential legal concerns surrounding IRS targeting and taxpayer confidentiality. This announcement amplifies apprehensions about executive overreach and bias enforcement against institutions perceived as ideologically…
In a strategic move to bolster its tax practice in Houston, Nelson Mullins Riley & Scarborough has announced the addition of James Reardon as a partner. This expansion is part of the firm’s broader initiative to strengthen its capabilities in tax-related legal services amidst an increasingly complex regulatory landscape. Reardon brings a wealth of expertise…
In a recent move, House Democrats, along with two organizations dedicated to assisting immigrants with tax preparation, have petitioned a federal court in Washington, D.C. with the aim of preventing the Internal Revenue Service (IRS) from sharing data with immigration enforcement agencies. The focus of this legal intervention is to stop the disclosure of names…
The nondescript building on South Main Street in Kalispell, Montana, serves a grand purpose—at least on paper. Inside its modest walls lies the headquarters of All Day $49 Registered Agents, an enterprise facilitating out-of-state owners to establish limited liability corporations (LLCs) in Montana, part of a decades-old strategy to evade hefty sales taxes, registration fees,…
Recent developments within the IRS’s Advance Pricing and Mutual Agreement (APMA) program highlight both achievements and potential challenges facing this crucial tax policy tool. The APMA program, which facilitates the resolution of transfer pricing disputes, has shown resilience and effectiveness, as evidenced in its latest annual report. Notably, the program saw a slight decline in…
Maryland attorney James McCollum Jr. has admitted guilt in a federal case concerning his failure to remit employment taxes and file personal income tax returns. This development was confirmed by the Department of Justice earlier this week. McCollum, who maintained a law practice in College Park, Maryland, was accused of not fulfilling his obligations to…
Navigating the turbulence of a merger and acquisition (M&A) deal can be daunting for startup founders. In lionized technology firms like ABC Company, developing a robust strategy for acquisitions can determine the firm’s key transition or its unraveling. With the prospect of being acquired by companies like D Company, reportedly for $100 million, understanding the…
The European Union’s proposed amendments to the Energy Taxation Directive (ETD) are poised to significantly alter the taxation landscape for energy-intensive industries. The revised ETD suggests taxing fuels based on their energy content and environmental impact rather than volume, aiming to promote cleaner energy consumption and reduce the reliance on fossil fuels. This has far-reaching…
In a significant legislative move, both the Senate and the House have voted to repeal the IRS’s reporting rule for decentralized finance (DeFi) brokers. This decision has been received with mixed reactions within the cryptocurrency sector. While some see it reducing the compliance costs and providing room for innovation, others express concern over the potential…
In recent years, federal courts have increasingly sided with regulations affecting firearm components, raising questions about the scope of Second Amendment protections. At the center of this debate is the treatment of noise suppressors, commonly known as silencers, which have been subject to statutory requirements for registration and taxation under the Bureau of Alcohol, Tobacco,…
In a session marked by rigorous questioning, the Supreme Court appeared inclined to maintain the federal program aimed at ensuring affordable access to telephone and high-speed internet services in schools, libraries, and underserved regions. This comes after a legal challenge by the conservative advocacy group Consumers’ Research, which questions the program’s constitutionality, arguing that it…
The increasing volatility and uncertainty in the taxation of digital assets have left many cryptocurrency holders pondering their options for liquidity without incurring hefty taxes. Recent remarks from political figures, such as President Donald Trump, indicate that for now, digital assets will retain their characterization as property under U.S. tax law, as outlined in existing…