The Republicans=E2=80=99 $1.5 trillion tax bill is expected to become law= after the U.S. House of Representatives on Wednesday again voted to affirm= deep and permanent tax cuts for corporations and lower rates for most Amer= ican households until 2025.

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Thursday, December 21, 2017

TOP NEWS

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House Sends $1.5T Tax Cut Bill = To Trump's Desk

The Republicans’ $1.5 trillion tax bill is expected to become l= aw after the U.S. House of Representatives on Wednesday again voted to affi= rm deep and permanent tax cuts for corporations and lower rates for most Am= erican households until 2025. Read more »

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Analysis

Tax Bill Like ‘Ma= nna From Heaven’ For Work-Hungry Firms

While the Republicans’ tax bill heads to President Donald Trump= ’s desk after receiving final approval by Congress, tax attorneys alr= eady are salivating over the work the legislation promises to deliver. Read more »

=09=09=09=09 =09=09=09=09

GOP Touts Tax Bill'= s Impact On Biz, Workers As Dems Jeer

With the GOP tax cut bill expected to be signed into law soon, Presid= ent Donald Trump and Republicans took a victory lap on Wednesday, claiming = the legislation would create jobs and bring home cash stashed overseas, whi= le Democrats continued to heap scorn on the plan. Read more »

=09=09=09=09 =09=09=09=09

Sen. Wyden Confronts Act= ing IRS Head About Dual Roles

Senate Finance Committee ranking member Ron Wyden, D-Ore., on Wednesd= ay confronted acting Internal Revenue Service Commissioner and Assistant Tr= easury Secretary for Tax Policy David Kautter on the potential conflict of = interest raised by holding both positions at the same time. Read more »

=09=09=09=09 =09=09=09=09

MVP: Kirkland's Sara Zablotney

Kirkland & Ellis LLP's Sara Zablotney has advised on tax aspects of m= ajor deals this year, including notable spinoff transactions for Energy Fut= ure Holdings and Wyndham Worldwide, placing her on Law360's list of 2017 Ta= x MVPs. Read = more »

FEDERAL

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Health Care Charity= 's UBIT Exclusions Denied In Tax Court

The U.S. Tax Court said Wednesday that fees a charitable organization= received from third-party vendors were subject to unrelated business incom= e tax, rejecting the organization’s arguments that they were excludab= le royalties or were received in a trade or business primarily carried on f= or its members’ convenience. Read more »

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Tax Bill Grows GDP = In 2018, Has Little Effect Later: Study

The Republicans' $1.5 trillion tax bill heading to President Donald T= rump's desk would slightly boost the U.S. gross domestic product in 2018 bu= t have “little effect” on the GDP in 2027 or 2037, according to= a macroeconomic analysis of the legislation. Read more »

=09=09=09=09 =09=09=09=09

Fla. Escort Service Owner Cha= rged With Tax Fraud

Federal prosecutors in Florida on Wednesday said they’ve charge= d a man who ran a Miami Beach escort service with underreporting his person= al and corporate income for several years, accusing him of filing fraudulen= t tax returns that concealed his true wealth. Read more »

STATE & LOCAL

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Outdoor Advertisers= Sue Over Philly Property Revaluation

Clear Channel and another outdoor advertising company became the late= st landowners to challenge Philadelphia's effort to raise $118 million in n= ew tax revenue through targeted property revaluations in a state court laws= uit filed Tuesday. Read more »

INTERNATIONAL

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Australia Issues I= ntercompany Debt, Diverted Profits Guides

The Australian Taxation Office has finalized guidance on determining = risk from a taxpayer's intercompany debt and issued draft guidelines on how= it will enforce its controversial diverted profits tax, designed to preven= t multinational companies from shifting profits offshore. Read more »

=09=09=09=09 =09=09=09=09

Caterpillar Can't Get V= AT Refunds, EU High Court Rules

The European Union’s top court on Wednesday found that Caterpil= lar Inc.’s financial unit cannot get a full refund of value-added tax= overpayments in Poland, holding that the construction equipment maker wait= ed too long to challenge the tax for certain years. Read more »

EXPERT ANALYSIS

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Tax Nonfilers Face = Potential Liability Under New York FCA

A recent, little-noticed decision in the New York Supreme Court has c= onfirmed that the tax provisions of New York’s False Claims Act apply= not only to persons and companies that cheat on their tax returns, but als= o to those who knowingly skirt their obligations by entirely failing to fil= e any New York tax returns, say Randall Fox of Kirby McInerney LLP and Adam= Pollock of Ford O’Brien LLP. Read more »

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Hearing The Need Fo= r More Women’s Voices In The Courtroom

For many female attorneys, the results revealed in the New York State= Bar Association’s recently adopted report on female litigators in th= e courtroom were not encouraging but not terribly surprising. Each stakehol= der in the litigation process — judges, law firms and corporate clien= ts — should contribute toward increasing female voices in the courtro= om, says Carrie Cohen of Morrison & Foerster LLP. Read more »

LEGAL INDUSTRY

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Analysis

Legal Industry 2017 Year In Review

The legal industry, rocked by gender bias suits and buoyed by #appel= latetwitter, saw a roller coaster of a year. Here’s a look at the goo= d, bad and Trump-driven of 2017. Read more »

=09=09=09=09=09

Analysis

Trump's First Year Saw= Slew Of Judicial Confirmations

With 12 appellate judges and a U.S. Supreme Court justice, President= Donald Trump has already made an impact on the federal courts in his first= year, even as allies push for more judges to be confirmed more quickly and= Trump's detractors cry foul. Read more »

=09=09=09=09=09 =09=09=09=09=09

Trump Taps 10 For B= ench In Latest Round Of Nominations

President Donald Trump announced a wave of federal judicial nominati= ons on Wednesday, tapping a New Mexico energy law partner for the Tenth Cir= cuit, a Morgan Lewis & Bockius LLP intellectual property partner for th= e District of Delaware, and eight more attorneys for federal district judge= ships in Pennsylvania, Florida and other states. Read more &r= aquo;

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IP Firm Hits Lega= lZoom, State Bars With $60M Antitrust Suit

A law firm specializing in trademark registration filed a $60 millio= n antitrust lawsuit in California federal court Tuesday, accusing federal a= nd state regulators of complicity in allowing LegalZoom.com and its founder= s to use false advertising and offer customers unauthorized legal= services. Read more »

=09=09=09=09=09 =09=09=09=09=09

Womble Bond Taking On = 24 Attys From Calif. IP Boutique

Womble Bond Dickinson (US) LLP is picking up 24 members of an intell= ectual property boutique in California, adding another notch to its belt in= a series of combinations following the November merger of North Carolina-b= ased Womble Carlyle Sandridge & Rice LLP and British firm Bond Dickinso= n LLP. Read more »

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Law360's Weekly Verdict: Legal L= ions & Lambs

The year’s final legal lions list has been compiled, and sole = practitioner John R. Sommer ended up on top of it for his work taking down = the Lanham Act’s ban on “scandalous and immoral” trademar= ks, while 2017’s final legal lambs list is headed up by Kane Russell = Coleman & Logan PC, which was on the losing end of a $98 million fraud = verdict in Texas this week. Read more »

=09=09=09=09=09 =09=09=09=09=09

Legal Tech Download: Denton= s' Leadership Change-Up

The world of legal technology is quickly evolving, with new products= coming to market in rapid succession. Here, Law360 takes a look at seven m= ajor recent developments. Read more »

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LAW FIRMS

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LegalForce RAPC Worldwid= e

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Steptoe & Johnson LLP<= /p>

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COMPANIES

AT&T Inc.

American Bar Associ= ation

American Society Of Composers Authors & Publishers

Banco Bilba= o Vizcaya Argentaria SA

Boehringer Ingelheim<= /p>

Bristol-Myers Squ= ibb Company

Brookfield Ass= et Management Inc.

CBS Corporation

Cable News Network Inc.=

Carlyle Group LP

Caterpillar Inc.

Cato Institute

Cerberus Capita= l Management LP

Clear Chann= el Outdoor Holdings, Inc.

Comcast Corporation

Energy Future Holdings<= /a>

Greater = New York Hospital Association

JPMorgan Chase & Co.=

Jimmy John's Fr= anchise LLC

Johnson & Johnson

Lantheus Holdings Inc.

LegalZoom.com Inc.

Lex Mundi Ltd

Lockheed Martin

Medco Health Soluti= ons Inc.

MetLife Inc.

Microsoft Corporation

New York State = Bar Association

New York Times Co.

New York University

Nordstrom Inc.

Northwes= tern Mutual Life Insurance Co.

Trump Organization Inc.=

Twitter Inc.

Uber Technologies Inc.

Wells Fargo & Co.

Wyndham Worldwid= e Corporation

Zeughauser Group LLC<= /p>

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