Wednesday, November 29, 2017

TOP NEWS

Budget Committee Vote Sends Tax Bill To Full Senate Floor

Republicans on the Senate Budget Committee advanced closer to enacting a $1.4 trillion tax cut bill on Tuesday with a vote in favor of merging the bill with recommendations from Sen. Lisa Murkowski, R-Alaska, to permit drilling in the Arctic National Wildlife Refuge. Read more »

Brady Says Projected Middle-Class Tax Increase Is 'Flawed'

The chief tax writer in the House found himself on the defensive during an event at the conservative-leaning think tank American Enterprise Institute on Tuesday when he disputed independent economic analyses predicting negative effects of a major tax cut bill for the middle class as being “flawed.” Read more »

Tax Penalty Rule Outdated In E-File Era, 5th Circ. Told

A group of tax lawyers told the Fifth Circuit on Monday that a couple should not be subject to penalties because electronic tax return filings should not be held to the same standard as paper filings. Read more »

Seattle Faces Tricky Appeal After Axing Of High-Income Tax

On the heels of a defeat in Washington State Superior Court last week, officials in Seattle look set to appeal a ruling that struck down a four-month-old ordinance that would have levied a new tax on the incomes of the city’s highest earners. Read more »

OECD Approves Updates To Tax Treaty Model

The Organization for Economic Cooperation and Development Council has approved an updated version of the organization’s model for countries to use when writing their tax treaties, including a widened definition for what counts as a multinational business’ taxable presence in a jurisdiction. Read more »

FEDERAL

Silver Wheaton Investors Seek Canada's Aid In Securities Row

Silver Wheaton Corp. investors, alleging the Canadian silver company concealed a potential $207 million tax liability, on Monday asked a California federal court to issue letters rogatory to the Ministry of Justice for British Columbia to help compel the company's former chief financial officer and controller to appear and testify for oral depositions. Read more »

Trump Admin. Draws Fire Over ACA Benefit Changes

The Trump administration is facing sharp criticism from hospitals, doctors and health insurers over proposed leeway for states to set coverage for the Affordable Care Act’s “essential health benefits,” newly released letters show. Read more »

STATE & LOCAL

Dish Tells High Court Fla. Tax Regime Meant To Favor Cable

There is conflicting authority in how courts decide whether a state communication service tax discriminates against interstate commerce, but a tax levied by Florida has protectionist purposes designed to favor cable, Dish Network LLC told the U.S. Supreme Court Monday. Read more »

Union Pacific Sues Wis. Dept. Over $2M Tax On Software

Union Pacific Railroad Co. filed a lawsuit Monday in federal court against the Wisconsin Revenue Department after the agency imposed more than $2 million in ad valorem taxes and penalties on the company over its computer software. Read more »

INTERNATIONAL

EU Financial Chief Sets Ambitious Tax Evasion Timetable

European Union lawmakers need to shoulder responsibility and accelerate the rollout of three key policies in the fight against tax evasion by the end of next year, including measures targeting financial and legal services, a top European Commission official said on Tuesday. Read more »

EU Antitrust Chief Cites UK Tax Probe As Priority

The European Union's antitrust chief vowed Tuesday to continue pursuing a state aid investigation into a British tax scheme that shields financing companies from tax avoidance rules and also called for an overhaul of legislation and culture to address broader tax problems. Read more »

LEGAL INDUSTRY

Analysis

3 Ways To Drive Clients Out The Door

Certain behaviors get under the skin of in-house counsel and can make them never want to work with a law firm again. Here, Law360 looks at three fairly effective ways at driving away clients. Read more »

More Firms Follow Cravath’s Lead On Associate Bonuses

More than half a dozen additional firms have announced year-end bonuses for U.S. associates in good standing that are in line with those offered in previous years, doling out year-end paydays ranging between $15,000 and $100,000 and following the lead set on Monday by Cravath Swaine & Moore LLP. Read more »

Senate Confirms Ex-Jones Day Vet Katsas For DC Circ. Seat

The U.S. Senate confirmed former Jones Day partner and current White House Deputy Counsel Gregory Katsas to the D.C. Circuit Tuesday in a mostly party-line vote that helped put President Donald Trump's first stamp on one of the country's top courts. Read more »

Ex-Clyde & Co Partner Suspended Over Fund Transfers

A U.K. attorney with Clyde & Co has been suspended by the Solicitors Regulation Authority after making several “improper” fund transfers from the firm’s client accounts to its office account. Read more »

High Court Reinstates Atty Suspended In Mistaken Identity

The U.S. Supreme Court on Monday lifted its suspension of a New York attorney after apparently confusing him with a disbarred elder law specialist of the same name, the second case of mistaken identity at the high court this year. Read more »

Series

My Supreme Court Debut: 'Ladies' Day' At The High Court

When I first argued Roe v. Wade before the U.S. Supreme Court, I was told I was believed to be the youngest person ever to argue there. I was 26, says Sarah Weddington, founder of the Weddington Center. Read more »

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