A commanding majority on the U.S. Supreme Court bench refused to grant fe= deral prosecutors a wider berth in trying allegedly criminal tax behavior, = but the court=E2=80=99s interpretation of a tax felony statute may still be= vague enough to lead to convictions for lesser violations.

Thursday, March 22, 2018

TOP NEWS

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Analysis

High Court Crimin= al Tax Ruling Leaves Some Leeway For Feds

A commanding majority on the U.S. Supreme Court bench refused to gran= t federal prosecutors a wider berth in trying allegedly criminal tax behavi= or, but the court’s interpretation of a tax felony statute may still = be vague enough to lead to convictions for lesser violations. Read more »

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Omnibus Spending Bi= ll Would Fix Tax Law’s ‘Grain Glitch’

Congressional leaders on Wednesday unveiled an omnibus spending bill = that would alter a provision of the recent tax overhaul legislation that la= wmakers said was having adverse effects on the U.S. agriculture industry. Read more »

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Supreme Court Narrows Tax Obst= ruction Statute

The U.S. Supreme Court overturned the Second Circuit’s affirmat= ion of a convicted tax dodger’s three-year prison sentence on Wednesd= ay, ruling that federal prosecutors had taken an overly broad view of a sta= tute criminalizing the obstruction of tax laws. Read more »

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EU Proposes €5B = Online Tax, Heightening Trade War Fears

A new €5 billion ($6.1 billion) levy put forward Wednesday by t= he European Union’s executive arm would target the advertising, data = and marketplace-based business models favored by digital giants such as Goo= gle LLP, Facebook Inc. and Airbnb Inc., but the European Commission d= enied accusations that the tax was “anti-American.” Read more »

FEDERAL

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IRS Asks 1st Circ= . To Uphold Order To Return Excess Subsidy

The Internal Revenue Service on Tuesday asked the First Circuit to af= firm a Tax Court's decision that two taxpayers were obliged to return exces= s medical research subsidy funds to the government, because the court did n= ot make errors in its findings. Read more »

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Feds Wrong To Underpay= Utah County, Claims Court Finds

The U.S. Department of the Interior must pay what it promises to pay = even when Congress appropriates less funding, the U.S. Court of Federal Cla= ims ruled Tuesday in siding with a Utah county government for payments in l= ieu of taxes. Read more »

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FCC's O'Rielly Sla= ms 911 Fee Diversion By RI, Other States

FCC Commissioner Michael O’Rielly blasted 911 fee “divers= ion” in a speech in Rhode Island this week, noting that the state shi= fts more than half the money collected for emergency call networks into its= general funds, making it second only to New Jersey in terms of overal= l amount and percentage diverted. Read more »

STATE & LOCAL

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Condo Association = Can't Represent Unit Owners In Tax Case

While Florida condominium owners can file a joint petition through th= eir condominium association to challenge property tax assessments, language= in state tax law prevents them from forming a similar defense class if the= county property appraiser files suit to appeal an adverse ruling, a state = appeals court ruled Wednesday. Read more »

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NY Agency OKs Powe= r Tariffs On Upstate Cryptocurrency Biz

The New York State Public Service Commission has ruled that upstate m= unicipal power authorities can impose a tariff on cryptocurrency companies = that require large amounts of electricity to conduct business. Read more »

INTERNATIONAL

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GILTI Calculation H= as 'Potential Traps,' Practitioner Says

A provision in the new U.S. tax law can lead to “potential trap= s” because of how it calculates taxes for a new category of profit &#= 8212; global intangible low-taxed income, or GILTI — a practitioner s= aid during a webcast on Wednesday. Read more »

EXPERT ANALYSIS

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Post Tax Reform: = What Corporate Structure Is Right For You?

Given a range of changes made to the Internal Revenue Code by the Tax= Cuts and Jobs Act, many CEOs and in-house counsel are wondering whether it= is more advantageous to conduct their businesses as pass-through entities = or, alternatively, as C corporations. Attorneys with Procopio Cory Hargreav= es & Savitch LLP discuss the options. Read more »

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Calif. Seeks Input= On Clean Energy Equipment Tax Exemption

Next month, the California Department of Tax and Fee Administration w= ill hold an interested parties meeting regarding a partial sales and use ta= x exemption for electric generation and distribution equipment. Attorneys = from Eversheds Sutherland LLP explain how the exemption has changed this ye= ar and why stakeholders may want to weigh in. Read more »

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Chief Innovation Office= r — The New Star On Legal Teams

Over the past few years, forward-thinking law firms have expanded the= ir talent pools to include a chief innovation officer, whose responsibiliti= es include spearheading the implementation of technology. It is a smart mov= e, says Mark Williamson, c= o-founder and chief technology officer at Hanzo Archives Ltd. Read more »

LEGAL INDUSTRY

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Analysis

Why Latham's Sex Scand= al Isn't BigLaw's #MeToo Moment

The Tuesday resignation of Latham & Watkins LLP Chair Bill Voge = amid a sexual misconduct scandal investigated by Law360 showcases how perso= nal behavior can become a professional liability for attorneys, but experts= say it falls well short of a #MeToo reckoning for BigLaw. Read= more »

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Analysis

Latham Chair's = Road From 'Christian Reconciliation' To Ouster

The Tuesday resignation of Latham & Watkins Chair Bill Voge was = the culmination of a monthslong association with a woman unconnected to the= firm that began last September, when Voge volunteered to broker a "Christi= an reconciliation" between her and a member of a nonprofit where Voge sat o= n the board. Read more »

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Feature

5 Mistakes Millenn= ial Attys Should Avoid On Social Media

Any attorney can slip up online, as a slew of recent ethical flubs h= ave shown, but millennial attorneys are especially susceptible because of t= heir prolific posting and tweeting. Law360 looks at five of the worst mista= kes attorneys can make on social media and how to avoid them. Read more »

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Skadden Atty Face= s Few Questions In Bid For Posner's Seat

Skadden partner Michael Y. Scudder Jr. and U.S. District Judge Amy J= . St. Eve sailed through their confirmation hearing Wednesday for two Seven= th Circuit spots, including one vacated by Richard Posner, answering questi= ons from a handful of senators on the Senate Judiciary Committee. Read more »

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Ex-Akin Gump Atty = Says Feds Handed Him Stolen Complaints

The ex-Akin Gump Strauss Hauer & Feld LLP attorney who was sente= nced to 2 1/2 years in prison for trying to sell a sealed whistleblowe= r complaint said the government gave him back a hard drive full of stolen l= awsuits, according to his renewed bid Wednesday to get into a prison-time-s= having drug rehab program. Read more »

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How They Won It

Jones Day And Orrick Kill Heller= Clawback

Knowing the California Supreme Court’s decision would have bro= ad ramifications for the legal industry, attorneys for Jones Day = and Orrick Herrington & Sutcliffe LLP beat a clawback bid by = the bankruptcy trustee of Heller Ehrman by arguing a core principle: A defu= nct law firm doesn’t have a property interest in hourly matters conti= nued by a dissolved firm’s former partners. Read more »

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Law Schools Ask 2= nd Circ. To Affirm $50M Antitrust Suit Win

Ten law schools urged the Second Circuit on Wednesday to uphold a lo= wer court’s dismissal of federal antitrust and racketeering claims fr= om a bar exam preparation company’s $50 million suit alleging they co= nspired to stifle competition for classes targeting foreign Master of Laws = graduates, saying the claims weren’t factually supported. Read more »

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