The biggest tax code overhaul in more than 30 years radically revised the= treatment of overseas income, making it a daunting task just to keep track= of all the unexpected, unclear and sometimes unintended outcomes of the la= w=E2=80=99s international provisions.

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Friday, March 30, 2018

TOP NEWS

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Analysis

5 Thorny TCJA Issue= s Multinationals Need To Know About

The biggest tax code overhaul in more than 30 years radically revised= the treatment of overseas income, making it a daunting task just to keep t= rack of all the unexpected, unclear and sometimes unintended outcomes of th= e law’s international provisions. Read more »

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Calif. Panel Won= 't Revive LA Tax Row With Online Travel Cos.

A California appeals court on Wednesday affirmed a trial court's ruli= ng in favor of a group of online travel companies, including Hotels.com and= Expedia, in a hotel tax dispute with the city of Los Angeles, writing that= the city is trying to capitalize on language in a recent California Suprem= e Court decision in the suit to revise assessments against the travel compa= nies. Read more »

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FDIC Settles Tax Re= fund Row With Defunct Ill. Co. For $240M

The Federal Deposit Insurance Corp., a receiver for eight failed bank= s formerly owned by a defunct Illinois-based company, reached a $240 millio= n settlement with the now-shuttered financial company, a spokesperson for t= he FDIC said Thursday. Read more »

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

NY Wants $9M Damage= s Doubled In UPS Cigarette Ship Case

The United Parcel Service Inc. should pay double the more than $9 mil= lion in damages originally awarded to the state and city of New York for un= paid taxes from illegal shipments of cigarettes, the city and state argued = in a Second Circuit brief filed Wednesday. Read more »

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Law360's Tax Editorial Advisory Board<= /a>

Law360 is pleased to announce the formation of its 2018 Tax editorial= advisory board. Read more »

FEDERAL

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Ill. Residents Can= Deduct 2017 Prepaid Taxes, Treasury Says

Illinois residents who prepaid their 2017 property taxes last year ca= n deduct them and are not subject to the $10,000 state and local tax deduct= ion limit created by federal tax reform because the state assesses taxes in= arrears, according to a letter the U.S. Department of the Treasury sent to= an Illinois congressman. Read more »

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McDonald's Expands Tuition= Aid, Citing New Tax Law

McDonald's Corp. announced a plan Thursday to roughly triple the tuit= ion benefit available to its employees, saying in a statement that changes = in the U.S. tax law influenced the decision to invest $150 million into its= 3-year-old tuition assistance program over five years. Read more »

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Trump Accuses Amazon Of P= aying Too Little In Taxes

President Donald Trump took to Twitter on Thursday morning to vent hi= s frustration about online retail giant Amazon, claiming it pays "little or= no taxes" to state and local governments. Read more »

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Manafort Wants Judge's Help= In Warrant Challenge

Paul Manafort asked a D.C. federal judge on Wednesday to order U.S. S= pecial Counsel Robert Mueller to hand over unredacted versions of affidavit= s behind search warrants in the federal government’s money laundering= and foreign lobbying case against the former Trump campaign manager. Read more »

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

Fed Board Seeks A= dditional Cuts In Puerto Rico Fiscal Plan

Puerto Rico’s financial monitors told the island’s govern= ment Wednesday they will need to see deeper cuts — including pen= sion benefit reductions — before they can approve the commonwealth's = latest revisions to its five-year fiscal plan. Read more »

STATE & LOCAL

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NJ Court Panel Re= jects Atty's Standing In Budget Challenge

A New Jersey state Superior Court appeals panel on Thursday affi= rmed a decision that an attorney cannot challenge a state finance boardR= 17;s approval of a city budget, saying the attorney doesn’t have stan= ding because he is not a resident or a taxpayer in the city. Read more »

INTERNATIONAL

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Switzerland's Corpo= rate Tax Proposal Heads To Parliament

The Swiss Federal Council has adopted the Finance Department's update= d report on the country’s corporate tax proposal, paving the way for = parliamentary deliberations. Read more »

EXPERT ANALYSIS

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Opinion

Roman J. Israel, Esquire, M= eet Donald J. Trump, POTUS

Despite the Trump administration's desire to shut down the Legal Serv= ices Corp., thankfully the budget that Congress passed and the president si= gned into law last week has restored $410 million of funding to the legal a= id organization. An unlikely brief for preserving LSC may be found in the q= uirky Denzel Washington film "Roman J. Israel, Esq.," says Kevin Curnin, im= mediate past president of the Association of Pro Bono Counsel. Read more »

LEGAL INDUSTRY

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Skadden Cites #MeToo In Ni= xing Forced Arbitration

Skadden Arps Slate Meagher & Flom LLP said in an internal commun= ication Thursday that after reviewing its policies in response to the #MeTo= o movement, the firm will drop forced arbitration agreements for nonpartner= s, making Skadden the third firm to do so this week. Read more &r= aquo;

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Proskauer Partner= Must Prove Employee Status In Bias Suit

A female Proskauer Rose LLP partner who brought a $50 million gender= bias suit against the firm will have the chance to show she is an employee= covered by employment discrimination laws and not an owner as the firm cla= ims, a D.C. federal judge said Thursday. Read more »=

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Analysis

9th Circ. Pick = Forces Grassley To Choose: Trump Or Tradition?

Senate Judiciary Chairman Chuck Grassley has so far proved a crucial= ally in President Donald Trump’s historic push to reshape the federa= l bench. But Trump’s nomination of conservative Oregon prosecutor Rya= n Bounds to the Ninth Circuit could test how far the Iowa senator is willin= g to go in stretching confirmation norms, with the pick opposed by both hom= estate senators. Read more »

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Stephen Reinhardt, 9th= Circ.'s Liberal Lion, Dies At 87

U.S. Circuit Judge Stephen Reinhardt has died at age 87, a Ninth Cir= cuit court spokesperson confirmed Thursday, bringing an end to the 38-year = appellate court career of a liberal lion who made a name for himself author= ing key opinions on topics ranging from gay marriage to immigration. = Read more »

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Linklaters Updates = Pay Gap Data To Include UK Partners

Linklaters LLP on Thursday released new gender pay gap dat= a incorporating new information about U.K. partners’ compensation,= 60;revealing a far wider firmwide pay gap than was initially disclosed in&#= 160;February. Read more »

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Fired FBI Deputy = Director McCabe Crowdfunds Legal Defense

Former FBI Deputy Director Andrew McCabe, who was fired by the Trump= administration earlier this month, tapped the crowdfunding site GoFundMe o= n Thursday to raise money for his legal defense as he faces government inve= stigations and other fallout over his work at the agency. = Read more »

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Law360's Weekly Verdict: Legal L= ions & Lambs

Goodwin Procter rose to the top of this week's legal lions list afte= r a federal judge released client Teva from a $235 million patent verdict o= ver its generic version of a heart medication, while Keker Van Nest & P= eters and King & Spalding ended up on the legal lambs list after the Fe= deral Circuit revived Oracle's billion-dollar copyright lawsuit against the= ir client, Google. 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 =09=09=09=09=09=09

NJ TOP TEN LAW FIRM PARTNER Schoen Legal Search Short Hills, New Jersey	Tax Attorney Chiesa Shahinian & Giantomasi PC West Orange, New Jersey
Trust & Estate Lit= igation Associate (Mid-Level) Hopkins & Carley Silicon Valley, California	Trust & Estate Litiga= tion Associate (2-4 yrs) Hopkins & Carley Silicon Valley, California

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LAW FIRMS

Keker Van Nest & Peters<= /a>

Steptoe & Johnson LLP<= /p>

COMPANIES

American Bar Associ= ation

American Tr= ucking Associations Inc.

JPMorgan Chase & Co.=

McDonald's Corporat= ion

Mexican American Legal Defense and Education Fund

NFL Enterprises LLC

National Grid PLC

New York State = Bar Association

Regeneron Pharma= ceuticals, Inc.

Starbucks Corporation

Tax Foundation

Teva Ph= armaceutical Industries Limited

The Priceline Group In= c.

The Universit= y of Alabama System

Travelocity.com LP

Twitter Inc.

U.S. Chamber of Commer= ce

United Parcel Servi= ce Inc.

Washington Mutual Inc.

Washington Post Co.

Wells Fargo & Co.

GOVERNMENT = AGENCIES

Congressional Budge= t Office

Congressional Re= search Service

European Union

Executive Off= ice of the President

Federal Bureau = of Investigation

Federal Deposit = Insurance Corp.

Internal Revenue Servi= ce

Legal Services Corp.

New York Att= orney General's Office

Pension Benefit G= uaranty Corp.

U.S. Air Force

U.S. Commission = on Civil Rights

U.S. Department of = Justice

U.S. Department = of the Treasury

U.S.= House Committee on Energy and Commerce

U.S. Supreme Court

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