No matter which team wins Sunday=E2=80=99s Super Bowl, Minnesota=E2=80=99= s Department of Revenue will enjoy its own victory in the form of increased= income tax revenue. Not just from the players, and not just for the big ga= me, but from every single person who earned income in the state, for howeve= r many days they worked.=C2=A0

Thursday, February 1, 2018

TOP NEWS

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Feature

Whoever Wins Or Lo= ses, Minnesota Collects Super Bowl Taxes

No matter which team wins Sunday’s Super Bowl, Minnesota’= s Department of Revenue will enjoy its own victory in the form of increased= income tax revenue. Not just from the players, and not just for the big ga= me, but from every single person who earned income in the state, for howeve= r many days they worked. Read more »

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Swiss Insurer Wins $21M T= ax Refund Suit Against IRS

Swiss insurer Starr International Co. Inc. won a $21 million tax figh= t Wednesday when a District of Columbia federal court declined to extend th= e government's two-year statute of limitations to claim an erroneously issu= ed tax refund. Read more »

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Fed. Circ. Revives NY Ho= spital's $6.6M Tax Refund Suit

A New York hospital got closer to retrieving $6.6 million from the In= ternal Revenue Service after the Federal Circuit punted its lawsuit back to= a lower court Wednesday, saying that previously withheld payroll taxes the= hospital had to return to medical residents can be reimbursed. Read more »

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Treasury May Exhau= st Cash By First Half Of March, CBO Says

The U.S. Treasury Department could run out of cash by the first half = of March because of an estimated drop in revenue of $15 billion per month a= s a result of the Republican-passed tax cuts, according to a Wednesday repo= rt from Congressional Budget Office. Read more »

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Boeing Says GOP Tax Law= Slashed $1B From Income Taxes

Boeing Co. reported Wednesday that its income tax expense will be red= uced by some $1.05 billion under the new GOP tax cut law passed by Congress= in December. Read more »

FEDERAL

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Man Cannot Nix 1970= Marijuana Tax Conviction, Court Says

A Massachusetts federal judge on Wednesday denied a man’s attem= pt to vacate his 1970 conviction for not paying taxes on the transfer of ma= rijuana, rejecting the claim that he received ineffective assistance of cou= nsel when he pled guilty because he did not meet his burden of proof. Read more »

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IRS Gets Quick Win In $7.2M Inco= me Tax Suit

The Internal Revenue Service may collect $7.2 million from a deceased= taxpayer’s estate for unpaid income tax liabilities between 1999 and= 2002 after a California federal court refused to allow the estate to offse= t the liability against a seizure of its assets by the U.S. Treasury Depart= ment in a separate investigation, according to an order issued Tuesday. Read more »

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House Bill Would Ma= ke TCJA Individual Tax Cuts Permanent

Rep. Rodney Davis, R-Ill., has introduced a bill that would make perm= anent the individual tax cuts enacted as part of Republicans’ recentl= y passed tax cut legislation. Read more »

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Puerto Rico Bondhol= ders Lose Bid To Force Debt Payments

The federal judge presiding over Puerto Rico’s restructuring ca= ses Tuesday told a group of commonwealth bondholders she doesn’t have= the authority to force the island’s government to put hundreds of mi= llions in special revenues toward paying off their notes. Read more »

STATE & LOCAL

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Tax Ballot Propo= sal Misled Voters, Citizens Tell Texas Court

Counsel for residents of Friendswood, Texas, told a state appellate c= ourt in oral arguments Wednesday that the city council violated the electio= n code when it placed a proposition for a new economic development sales an= d use tax on a special election ballot but failed to inform voters the fund= s would go to an economic development corporation. Read more »

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General Dynamics U= nit Pushes Maine For $60M In Tax Credits

Representatives for a Maine shipyard company owned by General Dynamic= s pushed state lawmakers on Tuesday to support up to $60 million in a renew= al of tax credits for shipbuilding facilities to help the company continue = building ships for the U.S. Navy. Read more »

INTERNATIONAL

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Rio Tinto Denies Re= port's Claim It Avoided $700M In Taxes

A Dutch nongovernmental organization's report that mining company Rio= Tinto engaged in a scheme to avoid more than $700 million in taxes through= its control of a Mongolian mine "contains a number of unsubstantiated and = incorrect allegations," the company said Wednesday. Read more »

PEOPLE

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The Laterals Audit: Tax Att= orney Moves In January

In the latest edition of the Laterals Audit, DLA Piper adds to its Ne= w York office, two attorneys join Ballard Spahr from Kutak Rock and Jean Pa= wlow joins Latham & Watkins LLP’s tax controversy practice. Read more »

EXPERT ANALYSIS

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The New Limited Intere= st Deduction: Good For Business?

The Tax Cuts and Jobs Act purports to lower taxes and simplify the In= ternal Revenue Code, but the new limitation on the deductibility of busines= s interest seems contrary to this objective. This change will certainly cau= se many businesses to pause and consider whether debt financing is the best= option for them, says Jennifer Tolsky of Gould & Ratner LLP. Read more »

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Centers Of Influen= ce Are Key To Small Law Firm Rainmaking

In a national survey of 378 small law firms, partners ranked client r= eferrals as the most important means of business development. Yet studies r= eveal that while professional services providers obtain most new clients fr= om existing client referrals, their best new clients — the ones provi= ding the largest pool of investable assets — overwhelmingly come from= “centers of influence,” says Frank Carone, an executive partne= r at Abrams Fensterman. Read more »

LEGAL INDUSTRY

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Feature

How Ditching Work = For Months Can Help Your BigLaw Career

What one Norton Rose Fulbright partner learned about how to be a bet= ter lawyer by taking an "adult timeout" from his busy ERISA practice and le= arning to embrace his sense of adventure. Read more »=

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Dechert Slams Ex-= Payroll Staffers' Age Discrimination Suit

Dechert LLP is firing back at a federal lawsuit alleging it fired a = pair of administrative staffers on the basis of their age and gender, as th= e Philadelphia-based firm argues instead that the workers lost their jobs a= s a result of a move to outsource payroll operations. Read= more »

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Law Firms Still= Too Slow Adapting To Competition, Says Panel

Near the end of a two-day forum on the present and future state of t= he business of law, one panelist Wednesday afternoon summed up the prevaili= ng mood with a blunt warning: “Be very, very afraid of the Big Four.&= #8221; Read more »

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The Top In-House Hires Of January

January's notable legal department hires included new general counse= l at multimedia content publisher XO Group Inc., biopharmaceutical company = MyoKardia Inc. and security services group Securitas AB. Read more »

JOBS
Search full listings or advertise your job opening=09=09=09

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= Tax Associate
Parker and Lynch
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Senior Tax Associate
Burns & Levinson
Boston, Massachusetts

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COMPANIES

American Inte= rnational Group Inc.

Anthem Inc.

BTI Consulting Grou= p Inc.

Bank of Montreal

Beazer Homes USA Inc.=

Beckman Coulter, Inc.<= /p>

CSX Corporation

Capital One = Financial Corporation

Comcast Corporation

CoreLogic Inc.

Deloitte Touche

EF Education First Ltd.=

Eli Lilly and Company

Ernst & Young

General Dynamics = Corporation

General Electric= Capital Corp.

General Motors

Hallmark Cards Inc.

Heidrick = & Struggles International, Inc.

Johnson & Johnson

Lockheed Martin

McKesson Corporation<= /p>

Mueller Water Produ= cts Inc.

National= Association of Manufacturers

New York State = Bar Association

Northrop Grumman = Corporation

Pfizer Inc.

PricewaterhouseCoopers<= /a>

Turquoise Hill Re= sources Ltd.

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Congressional Budge= t Office

Equal E= mployment Opportunity Commission

European Union

Federal En= ergy Regulatory Commission

Federal Reserve System

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International Monet= ary Fund

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