Thursday, November 30, 2017

TOP NEWS

GOP Senators Unite To Kickstart Debate On Tax Cut Bill

The U.S. Senate is set to officially begin discussing a $1.4 trillion tax cut bill after Republicans in the chamber banded together to overcome a procedural hurdle late Wednesday to get the wide-reaching legislation on the floor. Read more »

IRS Proposes Int’l Tax Rules For Partnership Audit Regime

The U.S. Treasury Department on Wednesday proposed new regulations that it said were designed to prevent collecting tax more than once under the centralized partnership audit regime that will take effect in January, from partnerships that have tax withholding requirements on payments to foreign partners. Read more »

Analysis

Endowment Tax Plan Seen As GOP Levy On Liberal Schools

Congressional Republicans have proposed taxing the endowments of some universities, and while the provision may not curb access to higher education as some have warned, it can be seen as a shot across the bow by the GOP against perceived liberal-leaning educational institutions. Read more »

Eaton Pushes Rethink On Tax Court Pricing Win

Eaton Corp. is urging a U.S. Tax Court judge to reconsider her decision refusing to reopen a victory for the company over advance pricing agreements canceled by the Internal Revenue Service, with Eaton arguing the tax agency is “incorrect” when asserting the parties have resolved a purportedly outstanding issue. Read more »

Ex-Rep. Reynolds Loses New-Trial Bid In Tax-Filing Case

Former U.S. Congressman Melvin Reynolds will appear for sentencing in March after an Illinois federal judge on Wednesday declined to retry him on four counts of failing to file federal income tax returns on more than $400,000, saying he found enough evidence during trial to convict. Read more »

FEDERAL

Small Captive Insurers Aren't All Made Equal, Tax Court Told

An Arizona construction and real estate company is urging a U.S. Tax Court judge not to conflate its case relating to the tax treatment of a small captive insurance company with another, “vastly different” case where an in-house insurer was found to be a sham. Read more »

AGs Back Pa.'s Suit Over Contraception Mandate Exemptions

A coalition of attorneys general from states including Massachusetts, California and New York on Tuesday voiced support for an effort by their counterpart in Pennsylvania to block regulations recently announced by the Trump administration dialing back the Affordable Care Act’s contraception mandate by allowing employers to claim religious or moral objections. Read more »

5th Circ. Upholds 12-Month Tax Evasion Sentence

The Fifth Circuit affirmed a 12-month prison sentence Wednesday imposed by the Southern District of Mississippi for willful tax evasion, saying the taxpayer's appeal failed to show the within-guidelines sentence was “substantively unreasonable.” Read more »

Manager At Mass. Seafood Co. Admits Income Tax Evasion

A manager at a Massachusetts-based seafood processor admitted Tuesday to failing to report roughly $75,000 he obtained in a scallop scheme on his tax returns, federal prosecutors said. Read more »

Pa. Golf Resort CEO Pleads To Ripping Off Company

The former CEO of a western Pennsylvania golf resort on Wednesday pled guilty to stealing money from the facility and dodging federal income taxes, according to the acting U.S. attorney for the Western District of Pennsylvania. Read more »

STATE & LOCAL

Infosys Wins $5.8M Corporate Tax Refund In NJ Court

The New Jersey Tax Court on Tuesday awarded Infosys a $5.8 million refund of state corporate business taxes, saying the New Jersey Division of Taxation was wrong to deny the refund after Infosys amended its 2008 through 2011 state tax returns. Read more »

Calif. Appeals Court Upholds BOE's $17M Sales Tax Reshuffle

A California appeals court reversed a lower court ruling Tuesday, saying a decision by the state’s Board of Equalization over a $17 million sales tax dispute among three cities should have been left intact. Read more »

EXPERT ANALYSIS

Series

Judging A Book: Saris Reviews 'Locking Up Our Own'

Having just completed a six-year term as chair of the U.S. Sentencing Commission, I read Yale Law School professor James Forman's new book, "Locking Up Our Own: Crime and Punishment in Black America," with particular interest, says Judge Patti Saris, chief judge for the U.S. District Court for the District of Massachusetts. Read more »

LEGAL INDUSTRY

Analysis

How Law Firms Can Avoid A Merger Disaster

As law firms look to grow and compete in an increasingly tough legal market through combinations, there are those who will choose poorly in the race to find a partner and end up unhappily married. Here, Law360 looks at a few characteristics of a doomed law firm merger. Read more »

Duane Morris Nabs Sedgwick's Ex-Employment Team In SF

Duane Morris LLP has hired the employment practice group from the soon-to-be-defunct Sedgwick LLP to join its San Francisco office, in its first round of potential ex-Sedgwick lateral hires, Duane Morris said Tuesday. Read more »

3 UK-Based Firms Match Cravath Scale For US Bonuses

Three London-based global law firms revealed Wednesday that associates in their U.S. offices would receive year-end bonuses ranging from $15,000 to $100,000, in keeping with the scale established in previous years and maintained this Monday by Cravath Swaine & Moore LLP. Read more »

As GCs Grow In Stature, Bonuses Are On The Rise

General counsel and chief legal officers saw their total compensation grow by almost 10 percent between 2015 and 2016 with bonuses accounting for much of the increase, reflecting the rising importance of legal department leaders, according to a new study released Wednesday. Read more »

Trump's Judge Picks Proceed Despite 'Blue Slip' Tradition

President Donald Trump’s picks for Fifth and Eighth Circuit vacancies — including Kyle Duncan, a lead attorney in the U.S. Supreme Court’s Hobby Lobby case — defended their records during a Senate hearing Wednesday as the Judiciary Committee prepares to break with its tradition of deferring to opposition from nominees' home state senators. Read more »

JOBS
Search full listings or advertise your job opening

Listen to our new podcast here

LAW FIRMS

Allen & Overy

Cadwalader Wickersham

Norton Rose Fulbright

COMPANIES

American Center for Law and Justice

American Express Company

GOVERNMENT AGENCIES

Congressional Research Service

Federal Bureau of Prisons

Federal Trade Commission

Internal Revenue Service

New Jersey Division of Taxation

U.S. Attorney's Office

U.S. Department of Health and Human Services

U.S. Department of Justice

U.S. Department of Labor

U.S. Department of the Treasury

U.S. House of Representatives

U.S. Senate

U.S. Sentencing Commission

U.S. Supreme Court

United States District Court for the Eastern District of Pennsylvania

Not sure if your firm subscribes? Ask your librarian.

We hope you found this message to be useful.
However, if you'd rather not receive future emails of this sort,
you may unsubscribe here.

Please DO NOT reply to this email. For customer support inquiries, please call 1-646-783-7100 or visit our Contact Us page.

Law360 | Portfolio Media, Inc, 111 West 19th Street, 5th Floor, New York, NY 10011