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New York Law Journal

‘Catholic Charities v. Wisconsin Labor and Industry Review Commission’: Another Consequence of 'Hobby Lobby'?

While at one time there would have been no question that Catholic Charities should pay unemployment tax, ever since the decision in Burwell v. Hobby Lobby, there is no certainty as to the result to be reached here.
8 minute read

New York Law Journal

Walt Disney, IBM Denied High Court Review of Old NY Franchise Tax Law

The high court on Monday denied both petitions for certiorari without explanation, as is customary, leaving intact an April decision from the New York State Court of Appeals to reject both companies’ efforts to claim billions of dollars worth of foreign affiliates’ royalty payments as tax deductions.
3 minute read

National Law Journal

22-Count Indictment Is Just the Start of SCOTUSBlog Atty's Legal Problems, Experts Say

Tom Goldstein, the appellate attorney and SCOTUSBlog publisher, faces a tax evasion complaint related to his alleged gambling activities and personal relationships. But legal experts say the sprawling indictment against him could spawn ethics complaints and civil litigation.
5 minute read

The Legal Intelligencer

The Uncertain Future of the Section 199A Deduction

For businesses taxed on their income at the entity level, most commonly organized as C corporations, the TCJA dramatically reduced the corporate income tax rate from a graduated rate topping out at 35% to a flat rate of 21%. Businesses organized as “pass-throughs,” such as partnerships (including LLCs taxed as partnerships), S corporations and sole proprietorships, do not pay an entity-level tax.
6 minute read

New York Law Journal

Courts Grapple With the Corporate Transparency Act

The author writes "Over the past two decades, the Internal Revenue Service and the Department of Justice have cracked down on the use of offshore accounts and vehicles to evade U.S. income taxes. However, as this column has previously discussed, for years foreign nationals have used limited liability companies and other entities formed under state law to avoid transparency and evade their own tax obligations."
11 minute read

International Edition

Israel's Rushed Corporate Tax May Spark Law Firm Mergers, Boost Large Firms Including Gornitzky

Israel's media describe the corporate tax changes as a strategic move to help fund the ongoing conflict with Hamas.
4 minute read

Daily Report Online

Facing the Civil Fraud Penalty? Here’s What You Need to Know

According to the IRS Criminal Investigations 2023 Annual Report, fraudulent schemes cost the government about $5.5 billion.
6 minute read

New York Law Journal

New York’s Property Tax Incentives and Abatements Make Development Feasible

The authors write "Commercial investors in real estate value predictability. New York is a notoriously challenging environment for development, where the entitlement process and taxes are the most common culprits. Investors ask, what is the likelihood the project get approved and how long will it take, and what will the carrying costs be in terms of real property taxes?"
7 minute read

International Edition

Energy and Tax Reforms to Drive Africa’s Major Disputes in 2025

African disputes lawyers predict a 2025 surge in litigation driven by energy and tax sector reforms, environmental claims, and evolving technology, with South Africa's Eskom restructuring and tax changes in Nigeria and Kenya among key contributors.
4 minute read

New York Law Journal

KISS, Profit Motive and Foreign Currency Contracts

The author writes "While being careful to dot their “i’s” and cross their “t’s” with respect to the complicated rules of section 1256 of the Internal Revenue Code, this attention to detail only took the Wrights so far in their quest to offset substantial capital gains that they had realized in 2002. They apparently gave little thought to section 165(c)’s limitation on an individual’s ability to deduct losses. More about this shortly."
10 minute read

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