News and Events for Attorneys and Executives

Tax

Lawyer Convicted of Abetting Tax Evasion By Wall Street Executive’s Adult Children

News
A Manhattan jury found Michael Little, 67, guilty of helping the adult children of a Wall Street executive tap into their Swiss bank accounts, which held millions in inheritance money, without alerting the IRS, reports Crain’s New York Business.

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‘Tax Case of the Millennium’ Hits High Court: A Primer

‘Tax Case of the Millennium’ Hits High Court: A Primer

News
Bloomberg Law reports the case directly challenges the 1992 decision in Quill Corp. v. North Dakota, prohibiting states from imposing sales tax collection obligations on vendors lacking an in-state physical presence.

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Dear Employer, You Could Owe the IRS Millions of Dollars

Dear Employer, You Could Owe the IRS Millions of Dollars

News
Some practitioners expect Industries like trucking, restaurant, and staffing to see a high proportion of the demands from the IRS, according to Bloomberg.

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Cryptocurrency Tax Webinar Covers New IRS Scrutiny on Reporting

Cryptocurrency Tax Webinar Covers New IRS Scrutiny on Reporting

Insight
As cryptocurrency has received attention from mainstream media, some investors and traders have made huge profits and some are now experiencing large losses.

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Jackson Walker Lawyers Squeeze Tax Law Options Onto One-Page Interactive Graphic

Jackson Walker Lawyers Squeeze Tax Law Options Onto One-Page Interactive Graphic

Insight
Tax lawyers at Jackson Walker LLP have reduced the details of the new U.S. tax law to a one-page interactive graphic to help businesses, individuals and their accountants sort out the new law’s complexities.

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Sexual Harassment Settlements are No Longer Tax Deductible

Insight
Settling gender, race, national origin, homosexuality, retaliation, and hostile workplace allegations confidentially is still a tax deductible event. BUT, Sexual harassment settlements are no longer tax deductible!

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Tax Reform Impact On Energy? Short Answer: MLPs Are Fine

Tax Reform Impact On Energy? Short Answer: MLPs Are Fine

Insight
Baker Botts partner Mike Bresson told listeners at the beginning of the law firm’s recent webinar that “Master limited partnerships [MLPs] did just fine on tax reform.”

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Corporations May Dodge Billions in U.S. Taxes Through New Loophole: Experts

Corporations May Dodge Billions in U.S. Taxes Through New Loophole: Experts

News
The loophole involves the tax rates — 15.5 percent or 8 percent — that companies must pay on $2.6 trillion in profits they are holding abroad, according to Reuters.

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Companies Have Up to a Year for New U.S. Tax Bill Reporting: SEC

Companies Have Up to a Year for New U.S. Tax Bill Reporting: SEC

News
The $1.5 trillion tax bill will significantly affect many companies’ year-end financial statements, according to Reuters.

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Dykema’s Chicago Office Adds Tax Attorney Richard L. Lieberman

News
Lieberman joins Dykema after spending more than eight years as a partner with Burke, Warren, MacKay & Serritella, P.C., where he served as Chair of the firm’s Tax and Employee Benefits practice.

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Tax Reform Plan Makes C Corporations More Appealing

Tax Reform Plan Makes C Corporations More Appealing

News
The reduction of the top corporate tax rate from 35 percent to 20 percent could certainly lead to a renewed interest in C corporations, said Dallas tax lawyer Nathan Smithson of Jackson Walker LLP.

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Abbie Shindler Joins Buchalter in Scottsdale Office

News
Buchalter announced that Abbie Shindler has become a member of the firm’s Corporate and Tax & Estate Planning Practices in Arizona.

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Former Tax Judge Sentenced To Prison for Tax Fraud

Former Tax Judge Sentenced To Prison for Tax Fraud

News
Both defendants entered guilty pleas, admitting to conspiring to obstruct the IRS by claiming personal expenses as business expenses. Those expenses included vacations, Pilates classes, upkeep and renovation and utilities for their home, and more.

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The Whistleblower Behind Caterpillar’s Massive Tax Headache Could Make $600 Million

The Whistleblower Behind Caterpillar’s Massive Tax Headache Could Make $600 Million

News
BloombergBusinessweek reports on the story behind the accountant who might end up the best-paid whistleblower of all time, with a potential paycheck of $600 million, while Caterpillar, the 92-year-old pride of American industry, will experience something unfamiliar: public humiliation.

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Blank Rome Expands Tax Group with Two Additions in New York

News
Blank Rome LLP announced that David J. Moise and Jill E. Misener have joined the firm in the Tax, Benefits, and Private Client group in New York.

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Amazon.com Wins $1.5 Billion Tax Dispute Over IRS

Amazon.com Wins $1.5 Billion Tax Dispute Over IRS

News
The IRS contended that the e-commerce giant had inappropriately brought down its U.S. tax bill by grossly undervaluing the assets it transferred to its Luxembourg subsidiary, which the company created more than a decade ago, reports The Seattle Times.

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The U.S. Tax Reform and the Energy Sector

Insight
Reforms in the U.S. tax code proposed being considered in Congress could have significant implications for the energy industry in the U.S., and worldwide, according to an article published on the website of Hogan Lovells.

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How a Tax Code Overhaul May Affect You

How a Tax Code Overhaul May Affect You

Insight
Despite what President Trump promised about simplifying the tax code when he was on the campaign trail, tax simplification isn’t a simple task, writes Charles Delafuente of The New York Times.

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A Tax Overhaul Would Be Great in Theory, But Hard in Practice

A Tax Overhaul Would Be Great in Theory, But Hard in Practice

News
Decisions that lawmakers made decades or even a century ago have essentially locked us into ways of doing things, as the cost of changing looms more heavily than the potential benefits of trying something different, writes Neil Irwin for The New York Times.

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IRS Rolls Out New Compliance Campaigns for Large Businesses

IRS Rolls Out New Compliance Campaigns for Large Businesses

News
The Internal Revenue Service’s Large Business and International division is taking a new approach to tax compliance, with a series of 13 campaigns aimed at cracking down on tax evasion, reports Accounting Today.

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