As taxpayers and employers alike grapple with the sweeping changes to fed= eral tax law signed late last year, athletes, coaches and teams aren't = immune from the money-saving =E2=80=94 and cash-costing =E2=80=94 effects o= f the reform.

Tuesday, February 20, 2018

TOP NEWS

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Analysis

6 Takeaways For The Spor= ts Industry From Tax Reform

As taxpayers and employers alike grapple with the sweeping changes to= federal tax law signed late last year, athletes, coaches and teams aren't = immune from the money-saving — and cash-costing — effects of th= e reform. Read more »

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Caterpillar's Tax Bill= May Reach $2.3B After IRS Audit

Caterpillar Inc. may owe the Internal Revenue Service $2.3 billion in= taxes and penalties following the conclusion of field audits concerning it= s income tax returns and profits earned by its Swiss affiliate, according t= o the annual report the company filed Thursday. Read more »

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BEAT Grew Out Of Frustra= tion, Treasury Official Says

The creation of the base erosion and anti-abuse measure in the new U.= S. tax law stemmed in part from frustration over the Organization for Econo= mic Cooperation and Development’s “circumscribed” efforts= against international tax avoidance, a U.S. Treasury official said Thursda= y. Read more »

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Analysis

Can Courts Handle T= he Increased FOIA Strain Under Trump?

U.S. District Judge Reggie B. Walton found himself in a difficult pos= ition last month, caught between the obligation for a speedy government res= ponse to a Freedom of Information Act request and the strain federal agenci= es and courts are under as FOIA litigation surges under the Trump administr= ation. Read more »

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Taxation With Repre= sentation: Kirkland, Davis, Skadden, Weil

In this week's Taxation With Representation, Wyndham sold its Europea= n vacation rental business to Platinum Equity for $1.3 billion, LyondellBas= ell bought A. Schulman for $2.25 billion, Hoffman-La Roche proposed buying = Flatiron Health for $1.9 billion, and Charles River Laboratories acquired M= PI Research for $800 million. Read more »

FEDERAL

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Court Asked To Toss= Suit Over $1.4B LNG Plant Tax Break

The Louisiana Board of Commerce and Industry and the state Department= of Economic Development asked a federal judge Friday to dismiss a putative= class action lawsuit seeking to reverse a $1.4 billion tax break for a $6 = billion liquefied natural gas plant built by Sabine Pass Liquefaction LLC, = saying the proposed class is flawed. Read more »

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Pot Biz Urges Supreme C= ourt To Take Case Against IRS

A Colorado-based marijuana company has urged the U.S. Supreme Court t= o hear its case against the Internal Revenue Service, alleging the agency l= acks the authority to investigate criminal activity and saying a circuit sp= lit must be resolved on the scope of a law preventing courts from interferi= ng with tax collection efforts. Read more »

INTERNATIONAL

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UK Supreme Court = Refuses Citi's Challenge In HMRC Tax Suit

Britain’s top appellate court on Friday refused to allow Citiba= nk NA to challenge a lower appeal court’s finding that HM Revenue and= Customs did not have to prove the bank was dishonest when it alleged that = the firm knew, or should have known, that a carbon credit scheme was part o= f a tax fraud. Read more »

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Coca-Cola To Pay $3= .6B Under Tax Repatriation Provision

U.S. tax changes will cause the Coca-Cola Co. to pay a one-time net&#= 160;charge of $3.6 billion during the quarter that ended Dec. 31, consistin= g of $4.6 billion in tax on deemed repatriated earnings offset by a deferre= d tax benefit of $1 billion, the company said in a release Friday. Read more »

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IRS Asserts Coca-C= ola Undervalued Property In $3B Tax Case

Arrangements between The Coca-Cola Co. and foreign licensees did not = accurately reflect the value of the company's intangible property, allowing= the beverage producer to avoid significant U.S. taxes, the IRS said in a p= retrial memorandum filed Thursday in its $3.3 billion transfer pricing disp= ute with Coca-Cola in the U.S. Tax Court. Read more »

EXPERT ANALYSIS

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How Emerging Sources Of ES= I Will Impact Discovery

Late last year, the Sedona Conference released the third edition of i= ts principles addressing electronic document production, updated to account= for innovations like Snapchat and Twitter. It may be necessary for these p= rinciples to be updated more often in order to keep pace with technology, s= ays Charles McGee III of Murphy & McGonigle LLP. Read more »

LEGAL INDUSTRY

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Feature

5 Ways Law Firms Can Avoid= Lateral Hiring Regret

Despite valuing lateral hiring as an integral element of their strat= egies, many law firms are failing to properly screen potential hires and, a= s a result, are often disappointed when promises made during the interview = don't pan out. Here, Law360 looks at five ways firms can avoid lateral hiri= ng remorse. Read more »

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Feature

How To Turn Jurors Into Adv= ocates For Your Case

It may seem like a nightmare scenario for a trial attorney: giving a= closing argument and feeling the majority of the jury is going against you= . But trial attorneys say that as long as you know there's one juror commit= ted to your case who's been armed with your arguments, a verdict in your fa= vor is no dream. Read more »

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Ex-Allen & Overy Atty's P= sych Exam Story Falls Flat

Two New York state appeals judges scoffed at a fired Allen & Ove= ry LLP attorney seeking to lift sanctions and revive her sexual harassment = suit against the firm at a hearing Friday, hammering the attorney for cutti= ng short a court-ordered psychiatric examination by threatening to have the= doctor arrested. Read more »

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Convicted Dewey E= xec's SEC Deal Hinges On Criminal Appeal

A settlement between the U.S. Securities and Exchange Commission and= former Dewey & LeBoeuf LLP chief financial officer Joel Sanders, who w= as convicted of fraud, rests on the outcome of Sanders' criminal appeal, a = Manhattan federal judge heard Friday. Read more »

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Feature

Up Next At High Co= urt: Double Jeopardy, Self-Incrimination

The U.S. Supreme Court will enter the underworld of burglars, spouse= abusers and drug dealers in its first week back on the bench after a long = winter recess, hearing a busy criminal docket presenting constitutional que= stions around double jeopardy and self-incrimination that are critical to t= he white collar bar. Read more »

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GC Cheat Sheet: The= Hottest Corporate News Of The Week

The general counsel for the parent company of Midas received a= ; two-year stayed suspension for practicing out of state, U.S. Supreme Cour= t Justice Ruth Bader Ginsburg expressed optimism that the burgeoning #MeToo= movement will have a sustained impact, and PNC Bank’s general= counsel shared with Law360 why he moved in-house after spend= ing much of his career at law firms. These are some of the stories in corpo= rate legal news you may have missed in the past week. = Read more »

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Podcast

Law360's Pro Say: What Does '= Partner' Even Mean?

On the latest episode of Law360's Pro Say podcast, we discuss how la= w firms are full of people with the title “partner,” but after = years of change the title ain’t always what it used to be; a big ruli= ng on the destruction of New York City graffiti space “5Pointz”= ; a new lawsuit claiming bar prep giant Barbri colluded with top law school= s to crush competitors; and Taylor Swift’s efforts to shake off a law= suit over song lyrics. Read more »

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In Case You Missed= It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stori= es and expert analyses that generated the most buzz on Law360 last week. Read more »

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

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Trusts and Est= ates Partner for Premier Area Firm
Parker + Lynch Legal
Philadelphia, Pennsylvania

= Tax Associate
Parker and Lynch
-, -

Listen to our new p= odcast here

LAW FIRMS

COMPANIES

Activision Blizzard, I= nc

American Civil = Liberties Union

Apple Inc.

Association o= f Corporate Counsel

Caterpillar Inc.

C= harles River Laboratories International, Inc.

Citigroup Inc.

Drucker & Scaccetti P= C

Electronic Fron= tier Foundation

Electron= ic Privacy Information Center

Interna= tional Brotherhood of Teamsters

LyondellBasell In= dustries NV

Microsoft Corporation

NFL Enterprises LLC

National Hockey League<= /a>

Platinum Equity LLC

Pnc Financial= Services Group,The

PricewaterhouseCoopers<= /a>

Snap Inc.

TBC Corp.

The Coca-Cola Company

Twitter Inc.

Wal-Mart Stores Inc.

Wyndham Worldwid= e Corporation

Wynn Resorts Ltd.

Zeughauser Group LLC<= /p>

GOVERNMENT = AGENCIES

Department of Commerce

European Commission

European Union

Executive Off= ice of the President

Federal Bureau = of Investigation

Federal Deposit = Insurance Corp.

Internal Revenue Servi= ce

National Labor R= elations Board

Securities a= nd Exchange Commission

U.S. Department of = Defense

U.S. Depart= ment of Homeland Security

U.S. Department of = Justice

U.S. Department = of the Interior

U.S. Department = of the Treasury

U.S. Enviro= nmental Protection Agency

U.S. Supreme Court

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