The Internal Revenue Service will likely issue further guidance on the ru= le that affects how pass-through entities are taxed under the new federal t= ax law by late summer or early fall, the agency=E2=80=99s top official said= Monday.

=20

Is Life As A Lawyer Making You Happy?

Take Law360's Anonymous Satisfaction Survey

= ;

Tuesday, March 27, 2018

TOP NEWS

=09=09=09=09=09=09=09=09=09=09

=09=09=09=09 =09=09=09=09

Pass-Through G= uidance Out By Summer At Earliest, IRS Says

The Internal Revenue Service will likely issue further guidance on th= e rule that affects how pass-through entities are taxed under the new feder= al tax law by late summer or early fall, the agency’s top official sa= id Monday. Read more »

=09=09=09=09 =09=09=09=09

Lawm= akers Propose Gutting IRS Oversight Board In Overhaul

Members of the House Ways and Means Committee introduced a bill on Mo= nday to eliminate the Internal Revenue Service's Oversight Board, along wit= h overhauling and restructuring other elements of the agency. Read more »

=09=09=09=09

Analysis

An argument brewing in a California federal court over whether taxpay= ers are guaranteed access to an appeals process during disputes with the In= ternal Revenue Service has the potential to expand taxpayer options for rea= ching settlements without the costs associated with litigation. Read more »=

=09=09=09=09 =09=09=09=09

Ireland = Picks Goldman, Others for €13B Apple Tax Recovery

The Irish government announced Friday that it had tapped Goldman Sach= s and a U.K. branch of BlackRock Inc. to provide investment management serv= ices related to the European Commission’s decision ordering the count= ry to recover €13 billion ($16.1 billion) in taxes from Apple Inc. Read more »

=09=09=09=09 =09=09=09=09

IRS Says No Universal Right To Appeal In Facebook Tax Bout

The government told a California federal court on Monday that Congres= s had not enacted a universal right of access to Internal Revenue Service a= ppeals, disputing Facebook Inc.'s contention in a legal battle over whether= the social media company can appeal an IRS decision that disallowed the bu= siness from adjusting its taxes for 2008 and 2010. Read more »

FEDERAL

=09=09=09=09=09=09=09=09=09=09

=09=09=09=09 =09=09=09=09

Ingersol= l-Rand Says Congress OK'd $25M Foreign Tax Credit

Ingersoll-Rand Co. hit back at the IRS' efforts to quash its $25 mill= ion foreign tax credit refund lawsuit Friday in North Carolina federal cour= t, claiming the U.S. Congress expressly declined to void the credits, even = when it would create a double benefit. Read more »

=09=09=09=09 =09=09=09=09

PES Refinery Ch.= 11 Plan Confirmed, Ethanol Fight Remains

Philadelphia Energy Solutions LLC secured confirmation in Delaware Mo= nday for a nearly $700 million debt restructuring for the northeast’s= largest remaining refinery, with no objections raised and with ethanol pro= ducer concerns over renewable fuel credits diverted to a separate hearing. Read more »

=09=09=09=09 =09=09=09=09

IRS Error = Can't End Tax Court Case, US Tells 11th Circ.

An Internal Revenue Service error that led to a refund cannot end a d= ispute over a deficiency the U.S. Tax Court determined to exceed $50,0= 00 because the court had acquired exclusive jurisdiction once the taxpayer = previously filed her petition in the matter, the U.S. Department of Justice= argued in a brief before the Eleventh Circuit on Friday. Read more »

STATE & LOCAL

=09=09=09=09=09=09=09=09=09=09

=09=09=09=09 =09=09=09=09

Va. High C= ourt Says State 'Add-Back' Statute Unambiguous

The Virginia Supreme Court has clarified its interpretation of a stat= e "add-back" income tax statute in a revised opinion involving more than $9= 00 million of Kohl’s Department Stores Inc.'s royalty payments apport= ioned to various states, saying the statute was not ambiguous after looking= at the legislative intent of the law. Read more »

=09=09=09=09 =09=09=09=09

Some Places Not = Ready To Collect Online Tax, Report Says

A Washington, D.C., think tank concerned with tax policy released a r= eport Monday arguing local municipalities aren't prepared to collect taxes = on online purchases after an analysis by the group found Amazon isn't colle= cting or is undercollecting local taxes in seven states. Read more »

INTERNATIONAL

=09=09=09=09=09=09=09=09=09=09

=09=09=09=09 =09=09=09=09

UK Court Rej= ects Gambling Co.'s £70M Tax Appeal

A U.K. court dismissed an appeal from a British gambling company in i= ts £70 million ($99 million) tax avoidance dispute with Her Majesty's = Revenue and Customs over disputed loans between its subsidiaries. Read more »

=09=09=09=09 =09=09=09=09

DWF Snags 2 Privat= e Capital Attys From Brecher In London

Manchester-based firm DWF LLP has launched a new private capital team= in London with the appointment of a Brecher LLP partner and director to de= velop its offering in the U.K. and internationally. Read more »

EXPERT ANALYSIS

=09=09=09=09=09=09=09=09=09= =09

=09=09=09=09 =09=09=09=09

Lessons In Negotiating Transaction Tax Deduction Provisions=

The Delaware Chancery Court's opinion in LSVC v. Vestcom serves as a = reminder of the potential high-value impact of pre- and post-closing tax pr= ovisions in private M&A, as well as their interaction with purchase price a= djustment provisions, say attorneys with Paul Weiss Rifkind Wharton & Garri= son LLP. Read more »

=09=09=09=09

Opinion

= A Long Overdue Check On Prosecutorial Power In Tax Cases

Twenty years ago, we put forward a then-novel concept that the IRS an= d Justice Department were misusing the tax code to make their jobs easier. = Congress didn’t heed our advice at the time, but last week the U.S. S= upreme Court did. While it is satisfying to be vindicated by the ruling in = Marinello v. U.S., the fact that the law was misused for so long represents= justice delayed for many defendants, say Caroline Rule and Robert Fink of = Kostelanetz & Fink LLP. Read more »

=09=09=09=09 =09=09=09=09

NY, I Can't = Seem To Quit You (As My Tax Domicile)

More than most states, New York aggressively enforces its residency a= udit program. The questions and answers in an audit can delve into the inti= mate, private life of a taxpayer to determine whether state income taxes ar= e owed, says Lance Rothenberg, of counsel to Tennenbaum Law PC. Read more »

=09=09=09=09

Series

Ju= dging A Book: Hardiman Reviews 'Without Precedent'

In his new book, "Without Precedent: Chief Justice John Marshall and = His Times," professor Joel Richard Paul ably explains more than a dozen of = Marshall’s most significant opinions, which comes as no surprise̴= 3;. What is a surprise — a pleasant one — is the book's = readability, says Judge Thomas Hardiman of the Third Circuit. Read more »

LEGAL INDUSTRY

=09=09=09=09=09=09=09=09=09=09

=09=09=09=09=09 =09=09=09=09=09

Why Some = BigLaw Harassment Policies Miss The Mark

Even simple preventative measures can turn complicated at law firms.= Here’s a look at some common steps firms are taking to stop sexual h= arassment along with the challenges they face. Re= ad more »

=09=09=09=09=09

Analysis

Munger Tolles Arbitration Dust-Up May Spark BigLaw Changes=

Munger Tolles & Olson LLP’s decision to release its associ= ates from forced arbitration clauses after a weekend Twitter dust-up has al= ready inspired at least one other BigLaw firm to do the same, and in the er= a of #MeToo, experts say more firms probably aren’t far behind. Read more »

=09=09=09=09=09 =09=09=09=09=09

Quinn= Emanuel Says Ex-Staffer Wasn't Target Of Racism

A former Quinn Emanuel secretary's claims of being the target of a s= upervisor's racist and homophobic comments during an Apple v. Samsung paten= t trial should be tossed because the alleged conduct was not severe enough = to create a hostile work environment, the law firm said Friday. Read more »

=09=09=09=09=09

Analysis

Texas Contempt Or= der Should Put Associates On Notice

When a Texas federal judge rebuked attorneys for filing a Fair Labor= Standards Act suit based on an invalidated overtime expansion rule, he ref= used to spare associates on the case from his contempt order in what expert= s say is a prime example of the tough ethics decisions young lawyers face. = Read more »

=09=09=09=09=09 =09=09=09=09=09

US At= ty In LA Earned More Than $3.7M At Gibson Dunn

President Donald Trump’s nominee for U.S. attorney in Californ= ia’s Central District earned more than $3.7 million since 2016 as a p= artner at Gibson Dunn & Crutcher LLP working for clients ranging from A= pple to Uber, according to financial disclosure forms shared with Law360 on= Monday. Read more »

=09=09=09=09=09 =09=09=09=09=09

Calif. Courts P= aid $500K To Resolve Sex Harassment Claims

The Judicial Council of California has paid $521,000 to settle sexua= l harassment complaints involving judges and court employees, plus another = $80,000 for outside counsel to investigate allegations involving five judic= ial officers, according to data provided to Law360 on Monday. =09=09=09=09=09 =09=09=09=09=09

11th Circ. Judge Julie Carnes To Take Senior Status

U.S. Circuit Judge Julie Carnes, who was nominated in 2014 to the El= eventh Circuit by former President Barack Obama, announced on Friday that s= he will soon take senior status, giving President Donald Trump another chan= ce at reshaping the federal appellate court. Rea= d more »

=09=09=09=09=09 =09=09=09=09=09

15 Minutes With Vimeo's General= Counsel

For eight years, Michael Cheah has been general counsel of Vimeo, th= e New York-based online video sharing and streaming site that touts an emph= asis on community and creativity. He spoke to Law360 about how the changing= regulatory landscape affects online media companies and why he’s on = the front lines of the fight over the future of net neutrality. Read more »

=09=09=09=09=09 =09=09=09=09=09

Law360's = Legal Industry Editorial Advisory Board

Law360 is pleased to announce the formation of its 2018 Legal Indust= ry Editorial Advisory Board. Read more »

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

=09=09=09=09=09=09 =09=09=09=09=09=09 =09=09=09=09=09=09

Tax Attorney Chiesa Shahinian & Giantomasi PC West Orange, New Jersey	Trust & Estate Litigation A= ssociate (Mid-Level) Hopkins & Carley Silicon Valley, California
Trust & Estate Liti= gation Associate (2-4 yrs) Hopkins & Carley Silicon Valley, California

Listen to our new podcast here

LAW FIRMS

Joseph & Kirschenbaum

Womble Bond Dickinson

COMPANIES

Aetna Inc.

Amazon.com Inc.

American Bar Asso= ciation

Amundi

Apple Inc.

Association of = Corporate Counsel

Chipotle Mexican Grill, Inc= .

Court Square = Capital Partners LP

Deloitte Touche

Edge International In= c.

Energy Transfer Par= tners, L.P.

Facebook

Goldman Sachs Group Inc.

IAC/InterActiveCorp

Ingersoll-Rand plc

International Bar A= ssociation

Philadelp= hia Energy Solutions Inc.

Samsung Electronics Co. Ltd.<= /a>

Sunoco

The Bank of New= York Mellon Corp.

Twitter Inc.

U.S. Chamber = of Commerce

Uber Technologies Inc.<= /a>

Washington Post Co.

Wayfair LLC

Zeughauser Group LLC

GOVERNMENT = AGENCIES

Delaware Court of= Chancery

European Commission

European Union

Federal Communi= cations Commission

Inter= nal Revenue Service

NAFTA

New York State Tax Appeals and Tax Appeals Tribunal

Securities and Ex= change Commission

U.S. Attorney's Office

U.S. Department of = Justice

U.S. Department of La= bor

U.S. Environmental = Protection Agency

U.S. Office of = Government Ethics

U.S. Senate

U.S. Sentenci= ng Commission

U.S. Supreme Court

United States Bankruptcy Court for t= he District of Delaware

Virginia Department of Ta= xation

World Trade O= rganization

Not sure if your firm subscribes? Ask your librarian.

= We hope you found this message to be useful.
However, if you'd rather = not receive future emails of this sort,
you may unsubscribe here.

Please DO NOT reply to this email. For customer support inquiries, please = call 1-646-783-7100 or visit our Contact Us page.

Law360 | Po= rtfolio Media, Inc, 111 West 19th Street, 5th Floor, New York, NY 10011