International
-
February 24, 2025
Ex-Goldman Exec Owes For Not Filing FBARs, US Says
A former Goldman Sachs banking executive who lives in Australia owes penalties to the Internal Revenue Service for failing to report foreign bank accounts she held, the U.S. government told a D.C. federal court.
-
February 24, 2025
NZ Reviewing Charity Business Income Tax Exemption
New Zealand is looking for comments on its internationally unique tax structure that allows charities and not-for-profits to conduct business activities tax-free in order to raise money, asking stakeholders whether such a regime continues to be effective, the country's tax agency said Monday.
-
February 24, 2025
Apple To Invest $500B In US Over 4 Years As Tariffs Mount
Apple said Monday that it would invest $500 billion in the U.S. over the next four years, weeks after President Donald Trump placed a 10% tariff on goods from China, where the company sources components for its products, and threatened tariffs on semiconductors.
-
February 24, 2025
Aussie Tax Office Agrees To Step Up Safeguards For AI
The Australian Taxation Office said Monday that it will implement seven recommendations made by a national auditing body regarding the agency's adoption of artificial intelligence tools, including looking closer at potential data ethics risks and the overall development of the programs.
-
February 24, 2025
High Court Won't Hear Tax Tipster's $690M Award Claim
The U.S. Supreme Court declined on Monday to review a man's claim for a $690 million whistleblower award for undercover recordings and tips he gave the IRS that he said led to the arrests of Swiss bankers and the success of an offshore tax disclosure program.
-
February 24, 2025
OECD Issues Consolidated Guidance On Amount B
The OECD issued consolidated guidance Monday that it put out throughout last year for an internationally agreed-upon method to apply the arm's-length principle to pricing baseline marketing and distribution activities by multinational corporations, known as Amount B of Pillar One.
-
February 21, 2025
Trump Says Tariffs Coming For Countries With DSTs
President Donald Trump's administration will impose tariffs on countries with taxes that disproportionately affect American companies, such as digital services taxes, which mainly apply to tech giants, according to a memorandum released late Friday.
-
February 21, 2025
The Tax Angle: ABA Midyear Tax Meeting
With a lack of government officials attending the American Bar Association's midyear tax meeting, here's a peek into a reporter's notebook on a few of the week's developing tax stories.
-
February 21, 2025
China Says Tax Deferral Boosted Foreign Reinvestment
A tax regime exempting foreign investors from withholding taxes on certain profits generated by their China-based businesses as long as those profits are directly reinvested in projects in China led to a 15% year-over-year increase in foreign reinvestment, the country's tax administration said Friday.
-
February 21, 2025
French 2% Minimum Wealth Tax Advances In Parliament
French households with assets worth more than €100 million ($104.6 million) would be subject to a 2% minimum tax on their net worth annually under a top-up wealth tax proposal approved by the lower house of France's Parliament.
-
February 21, 2025
IRS, Engineer Resolve Fight Over $5.5M In FBAR Penalties
The U.S. government and an engineer have resolved a dispute over $5.5 million in penalties and interest regarding the nondisclosure of assets in her foreign accounts from 2009 to 2012, according to a judgment entered by a California federal court.
-
February 21, 2025
Australia Lays Out Eligibility For Hydrogen, Mineral Credits
The Australian Taxation Office released guidance for companies hoping to claim either of a pair of new tax incentives aimed at hydrogen and critical mineral production, including eligibility requirements and how to claim the credits.
-
February 21, 2025
DLA Piper Tax Attorney Jumps To Vedder Price In Chicago
Vedder Price PC has expanded its Chicago office with the addition of a skilled tax attorney who brings nearly 30 years of experience, most recently with DLA Piper.
-
February 21, 2025
Taxation With Representation: Kirkland, V&E, Cravath, Dechert
In this week's Taxation With Representation, Diamondback Energy buys Midland Basin assets from another oil and natural gas company, GTCR closes its second strategic growth fund, Light & Wonder Inc. buys Grover Gaming's assets, and Barings acquires Artemis Real Estate Partners.
-
February 21, 2025
EU Tax Blacklist Needs New Criteria, Tax Pros Say
The European Union's list of uncooperative tax jurisdictions needs new criteria to tackle the problem of corporate tax avoidance and harmful tax practices, tax campaigners claimed Friday.
-
February 21, 2025
UK, Andorra Agree To Double-Tax Treaty
The U.K. and Andorra have reached an agreement on a treaty to prevent double taxation that will go into effect once it is approved by both countries' legislatures, HM Revenue & Customs said Friday.
-
February 21, 2025
UK Sticks With Inheritance Tax Changes Amid Higher Revenue
A U.K. budget surplus, reported Friday, indicates that the Labour government shows no sign of compromising with its inheritance tax changes as tax receipts rise despite the implications for middle-class families and farmers.
-
February 20, 2025
Biz Groups Pan Worldwide Reporting In Md. Tax Package
Worldwide combined reporting for corporations in Maryland, along with other provisions in a legislative tax proposal, would discourage business investment in the state, business groups told a state House panel Thursday.
-
February 20, 2025
Bradley Arant Adds Securities, Tax Expert As Partner
Bradley Arant Boult Cummings LLP added a former Burr & Forman LLP partner to the firm's tax group and corporate and securities group in its Birmingham, Alabama, office.
-
February 20, 2025
IRS Worker Layoff Could Hamper Enforcement, Groups Warn
Congressional Democrats, tax and economic policy groups and an IRS workers union warned Thursday that the termination of thousands of Internal Revenue Service employees that began the same day could threaten the agency's ability to enforce tax laws and hamper taxpayer services amid tax-filing season.
-
February 20, 2025
Guinea Fends Off Push To Enforce $22M Telecom Award
A D.C. federal court said it lacked jurisdiction to enforce a $22 million arbitration award against the Republic of Guinea stemming from a system enabling the country to tax international telecommunications traffic, saying the nation wasn't a party to the underlying arbitration agreement.
-
February 20, 2025
Europol Says Money-Laundering Gang Members Arrested
European Union law enforcement officials arrested 14 individuals, primarily Russian citizens, whom they accused of laundering money for drug traffickers and other criminal groups, during raids last month in Spain and Portugal, according to a news release.
-
February 20, 2025
Bilzin Sumberg Adds Ex-KPMG Tax Pro In Miami
Miami-based Bilzin Sumberg Baena Price & Axelrod LLP announced Thursday that it has hired an experienced tax attorney who previously worked as a managing director with Big 4 accounting firm KPMG as a partner.
-
February 20, 2025
Swiss Gov't Looks To Extend Tax Data Sharing To Crypto
The Swiss government is looking to extend the automatic information exchange of tax data to include crypto-asset holdings, treating cryptocurrencies like traditional assets, according to a statement.
-
February 20, 2025
Third Of Pension Professionals Uncertain About Gov't Policy
Approximately one in three pension professionals is unclear about the government's priorities for the sector, research by a specialist law firm has suggested, with particular uncertainty over proposals to apply tax to wealth passed on through retirement savings plans.
Expert Analysis
-
Navigating Discovery Of Generative AI Information
As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.
-
Finding Focus: Strategies For Attorneys With ADHD
Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.
-
Attorneys, Law Schools Must Adapt To New Era Of Evidence
Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.
-
1st Tax Easement Convictions Will Likely Embolden DOJ, IRS
After recent convictions in the first criminal tax fraud trial over allegedly abusive syndicated conservation easements, the IRS and U.S. Department of Justice will likely pursue other promoters for similar alleged conspiracies — though one acquittal may help attorneys better evaluate their clients' exposure, say Bill Curtis and Lauren DeSantis-Then at Polsinelli.
-
Tips For Litigating Against Pro Se Parties In Complex Disputes
Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.
-
Anticipating Intensified Partnership Enforcement From IRS
The Internal Revenue Service's decadeslong difficulties with partnership audits led to the recent announcement of a clear, well-funded, focused initiative, and businesses operating in the partnership form will feel the impact, with definite changes ahead, says Sharon Katz-Pearlman at Greenberg Traurig.
-
Pro Bono Work Is Powerful Self-Help For Attorneys
Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.
-
The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'
The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.
-
How And Why Your Firm Should Implement Fixed-Fee Billing
Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.
-
How Law Firms Can Use Account-Based Marketing Strategies
Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.
-
Strategic Succession Planning At Law Firms Is Crucial
Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.
-
Maximizing Law Firm Profitability In Uncertain Times
As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.
-
5th Circ. Ruling Reminds Attys That CBP Can Search Devices
The Fifth Circuit’s recent Malik v. Department of Homeland Security decision adds to the chorus of federal courts holding that border agents don’t need a warrant to search travelers’ electronic devices, so attorneys should consider certain special precautions to secure privileged information when reentering the U.S., says Jennifer Freel at Jackson Walker.