Return-Path: Received: from vps.transocean.com by vps.transocean.com with LMTP id GNlgF+V1q1oLMAAAInt2oQ ; Fri, 16 Mar 2018 00:44:37 -0700 Return-path: Envelope-to: bruce@transocean.com Delivery-date: Fri, 16 Mar 2018 00:44:37 -0700 Received: from o4.mailings-q.law360.com ([167.89.1.233]:52985) by vps.transocean.com with esmtps (TLSv1.2:ECDHE-RSA-AES128-GCM-SHA256:128) (Exim 4.89_1) (envelope-from ) id 1ewk2P-0003CP-3P for bruce@transocean.com; Fri, 16 Mar 2018 00:44:37 -0700 DKIM-Signature: v=1; a=rsa-sha1; c=relaxed/relaxed; d=law360.com; h=from:to:subject:mime-version:content-type:content-transfer-encoding; s=s1; bh=JbFxHF/2WX5+oxalAWgwCVosbMo=; b=WnVW+r4M/vzB8QKKO/1WkhW VaH+Andg52Cfw3B6lNN1ivGsqBDr8u50gOMtr23tIE9ueAocdUeuVoQyQYj6kk0T X/RB5vRZDnarhxephs0gzxqAl4x15ElCUQJC9Ea87nLtuuOXkSSkFY5qd00htxWT G1xw25YOznkVz8iGtzAk= Received: by filter0331p1iad2.sendgrid.net with SMTP id filter0331p1iad2-22841-5AAB75B4-D 2018-03-16 07:43:48.216845214 +0000 UTC Received: from www.law360.com (ec2-184-73-129-159.compute-1.amazonaws.com [184.73.129.159]) by ismtpd0003p1iad2.sendgrid.net (SG) with ESMTP id onyzMeeUQMaNNT8K-xmNPg for ; Fri, 16 Mar 2018 07:43:48.118 +0000 (UTC) Date: Fri, 16 Mar 2018 07:43:48 +0000 (UTC) From: Tax Law360 To: bruce@transocean.com Message-ID: <5aab75b425851_459a2ac73e856f58692583@ip-172-30-200-130.mail> Subject: US Chamber Backs Facebook In IRS Tax Adjustment Bout Mime-Version: 1.0 Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: 7bit X-SG-EID: Opio7iv9VGQ4tDJiJszIh3zd7qYkeM6M7FLocQY/BAVFBU/AwZbnTWYNw9DFcGuv+qHVB2LQ5Zr3xs rp6ZW1TCy9xhTdSMF6DN91JtTmeHocq4jr608PYVV+opdjNBpfG5z34IeAJW2+G+1J9E/xz2daof2R cEzbgtVt9oJjFZ70VXR09bmvC+4cLJmVcfV0ut5BDWxk34zcVwN2lmNUtQ== X-Spam-Status: No, score=2.9 X-Spam-Score: 29 X-Spam-Bar: ++ X-Ham-Report: Spam detection software, running on the system "vps.transocean.com", has NOT identified this incoming email as spam. The original message has been attached to this so you can view it or label similar future email. If you have any questions, see root\@localhost for details. Content preview: The U.S. Chamber of Commerce filed an amicus brief in California federal court on Wednesday to support social media company Facebook Inc.'s fight against the IRS' decision to block adjustment of its taxes for 2008 and 2010, saying a taxpayer's right to IRS appeals is essential to efficient tax administration. TAX [...] Content analysis details: (2.9 points, 3.0 required) pts rule name description ---- ---------------------- -------------------------------------------------- 0.0 URIBL_BLOCKED ADMINISTRATOR NOTICE: The query to URIBL was blocked. See http://wiki.apache.org/spamassassin/DnsBlocklists#dnsbl-block for more information. [URIs: law360.com] 1.3 RCVD_IN_BL_SPAMCOP_NET RBL: Received via a relay in bl.spamcop.net [Blocked - see ] -0.0 RCVD_IN_MSPIKE_H4 RBL: Very Good reputation (+4) [167.89.1.233 listed in wl.mailspike.net] -0.0 T_RP_MATCHES_RCVD Envelope sender domain matches handover relay domain -0.0 SPF_PASS SPF: sender matches SPF record 0.0 HTML_FONT_LOW_CONTRAST BODY: HTML font color similar or identical to background 0.7 MIME_HTML_ONLY BODY: Message only has text/html MIME parts 0.8 BAYES_50 BODY: Bayes spam probability is 40 to 60% [score: 0.5000] 0.0 HTML_MESSAGE BODY: HTML included in message 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid 0.0 T_DKIM_INVALID DKIM-Signature header exists but is not valid 0.0 LOTS_OF_MONEY Huge... sums of money -0.0 RCVD_IN_MSPIKE_WL Mailspike good senders X-Spam-Flag: NO
The U.S. Chamber of Commerce filed an amicus brief in California federal court on Wednesday to support social media company Facebook Inc.'s fight against the IRS' decision to block adjustment of its taxes for 2008 and 2010, saying a taxpayer's right to IRS appeals is essential to efficient tax administration.
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Friday, March 16, 2018 Follow Tax Law360
TOP NEWS

US Chamber Backs Facebook In IRS Tax Adjustment Bout

The U.S. Chamber of Commerce filed an amicus brief in California federal court on Wednesday to support social media company Facebook Inc.'s fight against the IRS' decision to block adjustment of its taxes for 2008 and 2010, saying a taxpayer's right to IRS appeals is essential to efficient tax administration. Read more »

Panama Papers Firm Mossack Fonseca Closing Over Scandal

Mossack Fonseca & Co., the offshore law firm implicated in the Panama Papers scandal, is telling clients it will close by March 31 because of the damage to its reputation and business, according to a statement posted Wednesday by the International Consortium of Investigative Journalists. Read more »

Sen. Dems Introduce Resolution Opposing Remote Sales Tax

Creating a nationwide remote sales tax would be disastrous for entrepreneurs and small-business owners, who would be forced to collect and remit taxes for over 10,000 jurisdictions, Senate Finance Committee ranking minority member Ron Wyden, D-Ore., and four other Democratic lawmakers said in a resolution introduced Thursday. Read more »

Coke Officials Stress Regional Focus in $3.3B Tax Trial

Coca-Cola Co. officials said careful tailoring of regional marketing, not reliance on Coke's ubiquitous name recognition and popularity, were crucial to the company's business dominance during Wednesday and Thursday testimony in a U.S. Tax Court case over $3.3 billion in taxes that hinges on the valuation of the soda's global brand. Read more »

Feature

Pa. Officials Follow Trump In Not Releasing Tax Returns

Many state lawmakers have proposed legislation mandating that presidential candidates disclose their tax returns, but their states' own leaders sometimes keep that information secret, including three Republican candidates for Pennsylvania governor who recently said they will not release their returns.    Read more »

FEDERAL

Manafort Disputes Criminal Charges, Attacks Mueller Probe

Paul Manafort on Wednesday made his latest move to defeat a slew of money laundering and foreign lobbying charges brought by Special Counsel Robert Mueller, saying in court filings that Mueller’s appointment improperly gave him a “blank check” to investigate anything arising from the Russia investigation, however attenuated. Read more »

FERC Won’t Let Pipeline MLPs Recoup Tax Allowances

The Federal Energy Regulatory Commission will no longer permit master limited partnership interstate natural gas and oil pipelines to recoup an income tax allowance in cost-of-service rates, the agency said Thursday in response to a federal appeals court remand. Read more »

STATE & LOCAL

Car Rental Tax Constitutional, Ariz. Appeals Court Says

A car rental tax that helped fund the construction of top-tier sports stadiums in Arizona has been ruled legal under both the Arizona and U.S. constitutions by the Arizona Court of Appeals, generally overturning an Arizona Tax Court ruling. Read more »

Pa. Appellate Panel Won't Upend AEP Tax Payment Order

A Pennsylvania appeals court on Thursday handed a win to the state by rejecting an exception from American Electric Power Co. and upholding a lower-court decision that a unit of the power company can’t claim a tax exemption for electricity sales it made to a local authority and maintaining the unit’s $340,000 tax bill. Read more »

Blucora Investor Defends Suit Over Costly Acquisitions

An investor in tax and finance software venture Blucora Inc. argued late Wednesday that company directors were too conflicted to fairly consider and take up the claims in his multicount, derivative suit alleging duty breaches and self-interested board conduct in two costly acquisitions and other deals. Read more »

INTERNATIONAL

With VAT Gap At £12B, Firm Questions UK Tax Strategies

The estimated £12 billion ($16.7 billion) gap between value-added taxes owed to the U.K. and what is actually paid raises questions about the effectiveness of the government’s strategies against tax avoidance, a director at a British accounting firm said Thursday.    Read more »

Telecom Seeks Court's Help To Enforce €150M London Award

A telecommunications company that won about €150 million ($184.6 million) in a London arbitration against Orascom TMT Investments SARL to cover liabilities incurred during Italian tax audits against former OTMTI-owned companies asked for a Delaware federal court's help Wednesday in tracking down assets to enforce the award. Read more »

EXPERT ANALYSIS

Tax Planning In The Age Of Tax Reform: Part 2

Businesses face challenges in implementing the Tax Cuts and Jobs Act, especially given its size and scope and the ambiguities that remain regarding its application. Unfortunately, if administrative guidance and technical corrections are not issued soon, companies may lose valuable rights, say attorneys with Eversheds Sutherland LLP. Read more »

LEGAL INDUSTRY

Feature

2 Hiring Moves That Could End Up Reducing Atty Turnover

Law firms may need to rethink the way they interview and hire to reverse the steady tide of attorneys jumping ship in today’s highly active lateral market. Here are two tactics for finding and hiring lawyers that some say could prevent them from leaving in the long run. Read more »

Law Firms Get Low Marks On Innovation From In-House Attys

In the age of technology and artificial intelligence, a majority of United States corporate legal departments say they’ve seen no innovation from their law firms and legal service providers in the past year, the research firm Acritas said Thursday. Read more »

​​​​​​​Senate Panel OKs 10th Circ., Fla., Del. Court Picks

President Donald Trump’s picks for the Tenth Circuit and district court seats in Florida and Delaware moved through the Senate Judiciary Committee Thursday, all with at least some bipartisan support. Read more »

Law360's Weekly Verdict: Legal Lions & Lambs

A trio of small and solo law firms secured a spot on this week's legal lions list after a federal judge sided with their client, US Coachways Inc., in a $50 million insurance dispute, while Butler Snow LLP landed on the legal lambs list when a federal jury slammed its client, a Johnson & Johnson unit, with a $35 million product liability verdict. Read more »

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