International

  • November 28, 2024

    Ex-HMRC Compliance Officer Helped Husband Launder £3M

    A former compliance officer with HM Revenue and Customs has been handed a suspended sentence for her role in a £3 million ($3.8 million) money laundering operation carried out by her husband, the Crown Prosecution Service has said.

  • November 28, 2024

    AXA Loses Time Limits Appeal In HMRC Foreign Tax Claim

    Insurer AXA has lost its fight over time limits for bringing claims for restitution against the British tax authority over taxes collected in violation of European Union law, as a London appeals court ruled that the limits could not be extended.

  • November 27, 2024

    UN Approves Start Of Formal Talks On Global Tax Convention

    The United Nations General Assembly voted Wednesday in favor of beginning formal negotiations on a global tax convention next year with the goal of finishing in 2027, a proposal that was led by the body's African bloc and won support from 125 countries.

  • November 27, 2024

    US Says Prof's 8th Amendment Argument Fails In FBAR Case

    An 86-year-old former professor cannot claim that his $545,000 penalty for failing to report foreign bank accounts violates the Eighth Amendment, the U.S. told a federal court, saying the penalty is neither excessive nor a fine, and that he never raised the argument before.

  • November 27, 2024

    BlueCrest Disputes 'Disguised Salary' Claim In HMRC Case

    British-American hedge fund BlueCrest Capital Management LLP pushed back Wednesday against arguments from the U.K. tax authority that its portfolio managers are employees receiving a disguised salary.

  • November 27, 2024

    US Seeks FBAR Penalties Over $1.7M In Foreign Accounts

    A Texas woman should face penalties for willfully failing to disclose foreign bank accounts from 2011 through 2013, which held balances exceeding $1.7 million, the U.S. government told a federal court Wednesday.

  • November 27, 2024

    UK Gambling Levy Would Generate £100M, Gov't Says

    A new levy on U.K. gambling operations would generate £100 million ($127 million), which would be earmarked for funding various ways to combat problem gambling, a government agency said Wednesday.

  • November 27, 2024

    Info On €12T In Assets Swapped Last Year, OECD Says

    Tax jurisdictions using the Organization for Economic Cooperation and Development's automatic exchange of information frameworks swapped information on 134 million financial accounts last year, representing nearly €12 trillion ($12.7 trillion) in assets, according to an OECD forum report.

  • November 26, 2024

    Ukrainian Man Admits To $25M Staffing, Tax Scheme

    A Ukrainian man who was recently extradited to the U.S. to face charges that he helped illegally employ immigrants in Florida hotels pled guilty to tax crimes that prosecutors say caused $25 million in tax losses, according to Florida federal court filings.

  • November 26, 2024

    Jones Walker Welcomes New Commercial, Tax Atty

    Jones Walker LLP has added a corporate partner who practices tax law and negotiates, structures and drafts complex merger and acquisition transactions, financings and related contracts and agreements, the firm said.

  • November 26, 2024

    Australia Will Enact Pillar 2 Minimum Corporate Tax

    Australia will institute the Organization for Economic Cooperation and Development's global corporate minimum tax under legislation enacted Tuesday by Parliament.

  • November 26, 2024

    Many OECD Gov'ts Need More Tax Transparency, Report Says

    Peer reviews found nearly half of OECD countries need to improve their legal frameworks for the automatic exchange of financial account information, a decade-old tax transparency system crafted by the organization, while many developing countries received passing grades, according to a report released Tuesday.

  • November 26, 2024

    OECD Suggests Indonesia Broaden Its Tax Base

    Indonesia should broaden its tax base to account for long-term spending pressures like an aging population, the Organization for Economic Cooperation and Development said Tuesday, while also recommending the country pick up the pace on implementing a carbon tax.

  • November 26, 2024

    UK Gov't Urged To Hold Off On Changes To Inheritance Tax

    The British Labour government should hold off on inheritance tax changes for farmers, scheduled to take effect in April, that would make gifts to their heirs taxable if they occur within seven years of the giver's death, a U.K. economics think tank said.

  • November 26, 2024

    Two Arrested In €19M VAT Fraud Involving VoIP

    Authorities arrested two people Tuesday alleging their participation in a €19 million ($19.9 million) value-added tax fraud scheme involving services that let users make phone calls via the internet, the European Public Prosecutor's Office said.

  • November 26, 2024

    Gov't, US-Saudi Former Pilot Close $1.2M FBAR Suit

    A U.S.-Saudi citizen who's been a pilot and luxury airplane consultant settled his $1.2 million dispute with the U.S. government over bank accounts in Switzerland that the IRS said he failed to report.

  • November 26, 2024

    IRS Confirms Commerce Payments In Chips Tax Credit

    Semiconductor development projects that received funding awards from the U.S. Commerce Department's CHIPS incentives program are considered investments that can also take advantage of the advanced manufacturing tax credit, the Internal Revenue Service confirmed Tuesday in guidance.

  • November 26, 2024

    UK Gov't Urged To Rethink Inheritance Tax Plan For Pensions

    The government should consider alternatives to its plan to bring pension assets within the scope of inheritance tax, an online investment company has said, warning that the current proposals could create "financial gridlock."

  • November 25, 2024

    Aussie Court Affirms R&D Credit Denial For Basketball Shoe

    The Australian producer of a basketball shoe cannot count its activities as research and development for tax purposes because of a lack of details on the shoe's development, the Federal Court of Australia ruled Monday.

  • November 25, 2024

    Ex-DOJ Attorney Joins Moore Tax Law Group In Chicago

    The Moore Tax Law Group has brought on a former trial attorney for the U.S. Department of Justice, Tax Division, the firm announced.

  • November 25, 2024

    UK Releases Deadlines For Top-Up Tax Payments

    The U.K. government issued new guidance detailing how multinational corporations should pay domestic and multinational top-up taxes under the Organization for Economic Cooperation and Development's Pillar Two 15% global minimum tax, providing payment deadlines and methods for compliance.

  • November 25, 2024

    Aussie Gov't Proposes Green Energy Production Tax Credits

    Australia's government has unveiled a sweeping new tax incentive program to accelerate investment in renewable hydrogen and critical minerals in an attempt to meet its commitment to a net-zero energy transformation.

  • November 25, 2024

    Payments To Exxon Unit Taxable, Australian Panel Says

    Exxon Mobil unit Esso is liable for tax on monthly payments it received for processing its Australian business partners' petroleum and on an AU$23.4 million ($15.5 million) lump sum payment, a panel at the Federal Court of Australia said, overturning an earlier judgment at the same court.

  • November 25, 2024

    Feds Violated Atty-Client Rules, Tax Evasion Defendant Says

    A Brazilian-American businessman accused of using Swiss bank accounts to hide $20 million from the Internal Revenue Service asked a Florida federal court to dismiss all the charges against him, saying federal prosecutors improperly gained access to information protected by attorney-client privilege.

  • November 25, 2024

    IRS Corrects Advanced Manufacturing Production Credit Regs

    The Internal Revenue Service issued a correction notice Monday concerning final rules for the advanced manufacturing production credit.

Expert Analysis

  • States Should Loosen Law Firm Ownership Restrictions

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    Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.

  • After Chevron: Uniform Tax Law Interpretation Not Guaranteed

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    The loss of Chevron deference will significantly alter the relationship between the IRS, courts and Congress when it comes to tax law, potentially precipitating more transparent rulemaking, but also provoking greater uncertainty due to variability in judicial interpretation, say Michelle Levin and Carneil Wilson at Dentons.

  • Texas Ethics Opinion Flags Hazards Of Unauthorized Practice

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    The Texas Professional Ethics Committee's recently issued proposed opinion finding that in-house counsel providing legal services to the company's clients constitutes the unauthorized practice of law is a valuable clarification given that a UPL violation — a misdemeanor in most states — carries high stakes, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • How To Clean Up Your Generative AI-Produced Legal Drafts

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    As law firms increasingly rely on generative artificial intelligence tools to produce legal text, attorneys should be on guard for the overuse of cohesive devices in initial drafts, and consider a few editing pointers to clean up AI’s repetitive and choppy outputs, says Ivy Grey at WordRake.

  • Industry Self-Regulation Will Shine Post-Chevron

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    The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.

  • 3 Ways Agencies Will Keep Making Law After Chevron

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    The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.

  • Atty Well-Being Efforts Ignore Root Causes Of The Problem

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    The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.

  • Unpacking The Circuit Split Over A Federal Atty Fee Rule

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    Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.

  • After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1

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    The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.

  • Recruitment Trends In Emerging Law Firm Frontiers

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    BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

  • Firms Must Rethink How They Train New Lawyers In AI Age

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    As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.

  • Think Like A Lawyer: Always Be Closing

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    When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.

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