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Tax
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August 15, 2025
IRS Strips 5% Safe Harbor In Solar, Wind Tax Credit Guidance
Large-scale clean energy projects seeking to claim solar and wind tax credits before they expire under a new accelerated sunset schedule can no longer rely on a safe harbor to incur 5% of the building costs to establish eligible construction start dates under Internal Revenue Service guidance released Friday.
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August 15, 2025
US Eyeing Tariffs, Port Levies Over Shipping Emissions Plan
The U.S. government is considering tariffs, visa restrictions or port levies 鈥 and potentially a combination of those measures 鈥 in response to an intergovernmental plan to push the global shipping industry toward achieving net-zero聽greenhouse gas emissions, a U.S. Department of State spokesperson told Law360.
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August 15, 2025
New Jersey AG Slams Power Broker's 'Flawed' Appeal Brief
South Jersey power broker George Norcross used a flawed argument in pushing back against New Jersey's effort to revive a dismissed criminal case against him, Attorney General Matthew Platkin has argued in a reply brief filed in state appellate court.
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August 15, 2025
Md.'s Digital Ad Tax Violates 1st Amendment, 4th Circ. Says
A provision in Maryland's digital advertising tax that prevents tech companies from directly passing the tax on to customers is unconstitutional, the Fourth Circuit said Friday, ruling that it unfairly suppresses companies' ability to explain the tax to consumers.
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August 15, 2025
Truck Co. Asks Justices To Review Denial Of $268M Tax Break
A Tennessee truck company seeking $268 million in excise tax exemptions for its refurbished tractors has asked the U.S. Supreme Court to review a Sixth Circuit decision finding the company's tractors might not qualify because they may have previously been sold to tax-exempt buyers.
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August 15, 2025
Taxation With Representation: Wachtell, Cooley, Sullivan
In this week's Taxation With Representation, the NBA signs off on the sale of the Boston Celtics, Gildan Activewear acquires HanesBrands, private equity shop Advent International buys insurance software firm Sapiens, and financial software provider MeridianLink goes private via its acquisition by Centerbridge Partners.
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August 15, 2025
Nebraska Tax Board Backs $1.4M Valuation Of Medical Office
A Nebraska dental and physical therapy office was correctly assessed as a medical office, resulting in an increased assessment totaling $1.4 million, the state tax review commission said in an order released Friday.
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August 14, 2025
Trump's Brazil Tariffs Raise Questions About Legal Limits
Higher tariffs imposed last week on Brazilian imports may prove especially vulnerable to legal challenges, but stakeholders expect the U.S.-Brazil trading relationship to nevertheless remain in limbo for the immediate future.
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August 14, 2025
Wyden, Warren Ask Lutnick's Son About Firm's Tariff Bets
Senate Democratic ranking members sent a letter published Thursday to Cantor Fitzgerald & Co. CEO Brandon Lutnick raising concerns about potential insider trading and conflicts of interest associated with a financial product hedging the legality of tariffs that his father, Commerce Secretary Howard Lutnick, has been involved in.
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August 14, 2025
Developing Nations Disfavor Arbitration In UN Tax Convention
Many developing countries objected Thursday to including arbitration as an option within a protocol on tax disputes in the United Nations framework convention on international tax cooperation, characterizing the process as tending to be imbalanced.
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August 14, 2025
Pa. Tax Board Must Revisit Denial Of Calif. Co.'s $4.9M Refund
The Pennsylvania Board of Finance and Revenue must review its denial of a California corporation's request for a refund of an overpayment of Pennsylvania income tax following a federal audit, the Commonwealth Court ruled Thursday.
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August 14, 2025
HMRC Tests Tax Evasion Law With 1st Corporate Charge
HMRC's long-awaited decision to charge a company for failing to prevent tax evasion under powers introduced eight years ago will test largely unanswered legal principles and could be a sign of the tax ministry's tougher stance on financial crime, lawyers say.
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August 14, 2025
Del. Lawmakers Seek Study To Fix Property Tax Assessments
Delaware's General Assembly called for an immediate review of a recent statewide property reassessment to develop legislation to improve the state's property tax assessment process under a Senate concurrent resolution passed by state lawmakers.
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August 14, 2025
Clark Hill Expands Tax Bench With Plunk Smith Atty In Texas
Clark Hill PLC announced Thursday that it has bolstered its tax and estate planning group in North Texas with an attorney who came aboard from Plunk Smith PLLC.
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August 13, 2025
GAO Upholds $37M IRS Deal For IT Support
The U.S. Government Accountability Office shot down a protest from an incumbent contractor for the Internal Revenue Service after it lost out on an information technology deal to a rival business, saying the IRS reasonably weighed the strengths of both businesses.
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August 13, 2025
Fla. Court Rules 50% Property Transfer Resets Tax Cap
A Florida appeals court ruled Wednesday that the transfer of 50% ownership of a commercial property constituted a change of ownership under state law, making the property ineligible for the 10% annual cap on any increase in assessed value for property tax purposes.
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August 13, 2025
2nd Circ. Upholds Ban On Certain SALT Cap Workarounds
An Internal Revenue Service rule prohibiting charitable donation workarounds to the federal cap on state and local tax deductions will remain in place, a Second Circuit panel said Wednesday, affirming a district court determination that upheld the agency's ban on the programs.
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August 13, 2025
2nd Circ. Asked To Review Bid To Bar NYC Congestion Pricing
The Second Circuit should review a federal court's decision to grant the Metropolitan Transportation Authority and Triborough Bridge and Tunnel Authority's bid to dismiss a pair of lawsuits alleging Manhattan's congestion pricing tolls聽are discriminatory and trample聽on motorists' right to travel, a New York county argued Tuesday.
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August 13, 2025
Tax Pro From V&E Joins Loeb & Loeb's DC Office As Partner
Loeb & Loeb LLP has expanded its tax, corporate and capital markets capabilities with the addition of a veteran tax attorney from Vinson & Elkins LLP as a partner in its Washington, D.C., office.
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August 13, 2025
US Threatens Retaliation For 'Global Carbon Tax' On Shipping
The U.S. government has preemptively threatened to retaliate against countries that adopt a multilateral plan to shift the global shipping industry toward achieving net-zero greenhouse gas emissions, claiming it's "a global carbon tax" that would disfavor liquefied natural gas and biofuels.
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August 13, 2025
Delaware Bill Seeks Separate Tax Rates For Property Types
Delaware would authorize school districts to set different tax rates for residential and nonresidential property under a bill introduced in the state House for consideration in a special legislative session.
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August 12, 2025
Fed. Circ. Won't Revive Real Estate Co.'s IRS Contract Dispute
A real estate company failed to show that the Internal Revenue Service improperly blocked its bid to continue leasing office space to the agency after agency employees complained about the building, the Federal Circuit said Tuesday, affirming a Court of Federal Claims ruling.
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August 12, 2025
Groups Urge IRS To Resist Pressure To Share Taxpayer Info
Advocacy groups urged the Internal Revenue Service on Tuesday to keep resisting presidential pressure to share confidential tax-return information with immigration enforcement authorities, saying the abrupt departure of the agency's new commissioner highlights the need for oversight.
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August 12, 2025
Trump Nominates 5 To Mississippi, Alabama Federal Courts
President Donald Trump announced on Tuesday five judicial nominees for federal courts in Mississippi and Alabama, one of whom Trump tried to put on the bench in his first term.
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August 12, 2025
DOL Yanks 2021 Guidance On Private Equity 401(k) Risks
The U.S. Department of Labor's employee benefits arm on Tuesday rescinded guidance from 2021 that warned 401(k) plan managers about the risks of investing in private equity, which comes after an executive order last week that called for expanding access to alternative asset classes in defined-contribution retirement plan investing.
Expert Analysis
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5 Keys To Building Stronger Attorney-Client Relationships
Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.
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Series
Racing Corvettes Makes Me A Better Lawyer
The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes 鈥 complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
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Opinion
Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch鈥檚 authority, says attorney Bhavleen Sabharwal.
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Rethinking 'No Comment' For Clients Facing Public Crises
鈥淣o comment鈥 is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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Reading The Tea Leaves On Mexico, Canada And China Tariffs
It's still unclear whether the delay in the imposition of U.S. tariffs on Canadian and Mexican imports will result in negotiated resolutions or a full-on trade war, but the outcome may hinge on continuing negotiations and the Trump administration's possible plans for tariff revenues, say attorneys at Eversheds Sutherland.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits 鈥 but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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Justices' Certiorari Denial Leaves Interstate Tax Questions
Since the U.S. Supreme Court recently declined to review a Philadelphia resident鈥檚 claim that her Delaware state income taxes should be credited against her city wage tax liabilities, constitutional questions about state and local tax distinctions linger, and some states may continue to apply Supreme Court precedent differently, say attorneys at Dentons.
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10 Issues To Watch In Aerospace And Defense Contracting
This year, in addition to evergreen developments driven by national security priorities, disruptive new technologies and competition with rival powers, federal contractors will see significant disruptions driven by the new administration鈥檚 efforts to reduce government spending, regulation and the size of the federal workforce, say attorneys at Thompson Hine.
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Defense Strategies For Politically Charged Prosecutions
Politically charged prosecutions have captured the headlines in recent years, providing lessons for defense counsel on how to navigate the distinct challenges, and seize the unique opportunities, such cases present, says Kenneth Notter at MoloLamken.
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Series
Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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The Pros And Cons Of A 2nd Trump Term For UK Tech Sector
While U.S. President Donald Trump鈥檚 protectionist stance on trade could disrupt global supply chains on which many U.K. tech firms are reliant, anticipated deregulation could provide fertile ground for investment and growth, and the U.K. tech sector is bracing for a mix of opportunities, say lawyers at Shoosmiths.
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Corp. Transparency Act's Future Under Treasury's Bessent
The Corporate Transparency Act鈥檚 ultimate fate faced uncertain terms at the end of 2024, but new U.S. Department of the Treasury Secretary Scott Bessent's statements and actions so far demonstrate that he does not intend to ignore the law, though he may attempt to make modifications, say attorneys at Taylor English.
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A Look At A Possible Corporate Transparency Act Exemption
Attorneys at Kirkland offer a deep dive into the application of the Corporate Transparency Act's reporting requirements specifically to U.S.-domiciled co-issuers in typical collateralized loan obligation transactions, and consider whether such issuers may be able to assert an exemption from the CTA's reporting requirements.
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Opinion
Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.
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In-House Counsel Pointers For Preserving Atty-Client Privilege
Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.