Tuesday, January 30, 2018

TOP NEWS

Analysis

Dem Suit Challenging SALT Cap Needs New Ideas To Succeed

An anticipated lawsuit against the new federal tax cut legislation pledged by Democratic governors is likely to be dismissed as a frivolous action aimed at courting wealthy voters unless it puts forward convincing and untested legal arguments. Read more »

CPA Group Requests Federal Guidance For New Tax Laws

The American Institute of Certified Professional Accountants on Monday requested guidance for 39 areas of the tax code changed by the GOP tax cut bill passed last month in a letter sent to the U.S. Treasury Department and the Internal Revenue Service. Read more »

Tax Court Says Virgin Islands Returns Are Valid IRS Filings

A couple who filed tax returns with the Virgin Islands Bureau of Internal Revenue effectively filed federal returns and started the statute of limitations after the Virgin Islands shared portions of the forms with the Internal Revenue Service, even though the returns were incomplete and lacked a valid signature, the U.S. Tax Court ruled Monday. Read more »

Trump Fla. Golf Club Fights Tax Appraisal For 5th Year

A Florida golf club owned by President Donald Trump has challenged its property tax assessment for the fifth year in a row, claiming the property is worth less than the nearly $19.7 million appraisal despite Trump's claims elsewhere that it is worth much more than that. Read more »

BBC, Guardian Can't Move Suit Over Paradise Papers Leak

A United Kingdom court on Friday rejected efforts by the British Broadcasting Corp. and The Guardian newspaper to relocate a suit against the media companies over publication of the "Paradise Papers," a trove of documents from offshore law firm Appleby Global Group LLC detailing how the rich and powerful used offshore havens to minimize or avoid taxes. Read more »

FEDERAL

Analysis

What’s On Attys’ Wish List For Trump’s Infrastructure Plan

President Donald Trump is close to unveiling a long-promised infrastructure investment plan setting aside $200 billion to attract billions more in private dollars to rebuild the nation’s highways, bridges, ports and airports, but industry observers are raising questions about whether the plan will sufficiently fund infrastructure upgrades over the long term. Read more »

CSX Seeks 11th Circ. Win In Relocation, Stock Options Row

CSX Corp. asked the Eleventh Circuit on Friday to reverse a lower court’s decisions finding the railroad holding company owed the IRS almost $1.8 million in tax on employee relocation expenses and nearly $2.4 million on stock options, arguing the plain text and legislative history of railroad law favored not taxing those benefits. Read more »

CPA Charged With Aiding Ex-Mass. Lawmaker's Tax Fraud

A Massachusetts accountant charged with helping a state senator file false tax returns could spend five years in prison if convicted, the U.S. Department of Justice announced Monday. Read more »

STATE & LOCAL

Analysis

US Tax Changes Deal Wild Cards To State Budget Overseers

The breadth and timing of federal tax law changes have turned the state budgeting process upside down, experts say, forcing lawmakers to attempt to quantify the impacts of a moving target but also to deal with any projected shortfall or gains. Read more »

Detroit Residents Sanctioned In Pistons Arena Funding Fight

Michigan residents opposed to using $56.5 million in taxes to fund a new arena for the NBA's Detroit Pistons must pay sanctions for bringing "frivolous" allegations in a dropped lawsuit but won't be punished for related claims in a suit that's ongoing, a federal judge said Friday. Read more »

INTERNATIONAL

GVC Subsidiary Slapped With €187M Tax Bill In Greece

Multinational online sports betting and gambling group GVC Holdings PLC has announced that one of its subsidiaries was hit with a nearly €187 million ($232 million) tax assessment in Greece but said it believed there were “strong grounds” to appeal. Read more »

Spanish Manufacturer Challenges EU Decision Over State Aid

A company that makes metal parts has challenged a decision from the European Commission finding that a tax credit the manufacturer received from the Spanish government ran afoul of European Union state aid law, according to a Monday filing. Read more »

Ports Defend French Tax Break In EU Court

An association of French ports is going to court to defend a corporate tax break, claiming the European Commission erred in a 2017 ruling striking it down as a distortion of the common market, according to a Monday filing. Read more »

EXPERT ANALYSIS

Fight On SALT Deductions: Who Will Be Black And Blue?

Blue states New York, New Jersey and California have thrown their hats into the ring, hoping to knock out the new state and local tax deduction limitation. Odds are good for some strategies and we should expect this fight to go the distance, say attorneys Leah Robinson and Amy Nogid of Mayer Brown LLP. Read more »

Series

Judging A Book: Kendall Reviews 'On The Jury Trial'

As someone who spent half her days last year on the bench presiding over trials, I often find the alarmist calls to revamp the jury trial system a tad puzzling — why is making trial lawyers better rarely discussed? Then along comes a refreshing little manual called "On the Jury Trial: Principles and Practices for Effective Advocacy," by Thomas Melsheimer and Judge Craig Smith, says U.S. District Judge Virginia Kendall of the Northern District of Illinois. Read more »

From Law Firm To Newsroom: An Interview With Bob Woodruff

Lawyers who have left the traditional practice for perceived greener pastures are many. But the circumstances surrounding broadcast journalist Bob Woodruff’s departure are unique. Like none I’ve ever heard, says Randy Maniloff of White and Williams LLP. Read more »

LEGAL INDUSTRY

The 2 Biggest Worries Keeping GCs Up At Night

Data security and regulatory shifts are the two biggest concerns of corporate counsel, according to a new survey of chief legal officers. Here, we look at what that means for in-house lawyers in 2018. Read more »

Analysis

3 Misconceptions GCs Hold About International Arbitration

Advising general counsel to include an international arbitration clause in an important contract can get dicey if the latest gossip about an arbitration gone wrong or a lack of familiarity with the process has caused certain misconceptions to take root. Here, Law360 lays out three common misconceptions GCs may hold about this dispute resolution method. Read more »

Analysis

15 Minutes With Lyft's General Counsel

Kristin Sverchek joined the transportation network company Lyft as its first legal hire and general counsel in November 2012, nearly six months after its two co-founders launched the platform. She spoke with Law360 about how she responds now to friends who doubted her decision to join a company that was part of an unfamiliar industry and how that industry continues to grow. Read more »

Trump Judge Pick Advances Despite Home-State Opposition

The U.S. Senate appeared to buck a decades-old tradition Monday by slating President Donald Trump's pick for an Eighth Circuit vacancy for a final vote despite opposition from a senator in the nominee's home state. Read more »

Analysis

App Could Give Workers Safe Space To Report Harassment

A longtime employment defense lawyer and her business partner are hoping to change the way employees and employers communicate via a third-party cellphone app, which launched Monday and allows workers to confidentially report sexual harassment or other perceived problems in the workplace to management. Read more »

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