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Daily Business Review

Tax Law Considerations for Charitable NIL Collectives in College Sports

With a growing number of donor groups forming NIL collectives as not-for-profit entities, there are questions about whether or not these collectives truly qualify as charitable organizations for tax purposes.
8 minute read

New York Law Journal

Donald Trump's Former Mazars Accountant Takes Witness Stand in Trump Org Trial

Mazars' relationship with the Trump Organization ended in dramatic fashion in February, when Mazars' general counsel told the Trump Organization's chief legal officer that the firm could no longer work for the Trump Organization.
5 minute read

New York Law Journal

'The Best Lawyers in New York City': Trump Org Ex-CFO Weisselberg Praises Attorneys as Testimony Ends

Weisselberg, 75, appeared relaxed as he testified about how he earned approximately $1.76 million in unreported compensation, such as a Manhattan apartment, Mercedes-Benz leases and private school tuition for his grandchildren, during 12 years as CFO at the Trump Organization.
4 minute read

New York Law Journal

Litigating IRS Penalty Approval

Given that the Tax Court applies the law as interpreted by the Court of Appeals in the Circuit where the taxpayer lives, the varying interpretations of the supervisory approval requirement mean that liability for substantial penalties may turn on where the taxpayer resides.
9 minute read

Texas Lawyer

Clean Sweep for Sirius XM as Appeals Court Favors Its Tax Math Over Texas'

The dispute hinged on whether to consider New York-based Sirius' monthly subscription fees from Texas users as revenue from a service performed in Texas—and subject to higher taxes—than if they resulted from activity performed outside the state.
4 minute read

National Law Journal

Don't Delay Trump Tax Return Release, House and Biden Administration Tell SCOTUS

Chief Justice John Roberts Jr. is handling a request for an emergency stay filed by lawyers representing the former president.
3 minute read

Daily Report Online

IRS' Increased Funding Means More Scrutiny

Since the enactment of the Inflation Reduction Act (IRA), there have been no specific details from the IRS regarding how it intends to use the additional funding to support its enforcement actions. While a report is due from the IRS in early 2023 related to those details, taxpayers and their professional advisors are understandably concerned about what this additional funding means for them.
6 minute read

Supreme Court Brief

Taxing Problem | Watch Your Footnotes | Affirmative Action Reaction

The justices end their first week of the November argument session with a case involving the Bank Secrecy Act, pitting business against government and whistleblower interests.
7 minute read

National Law Journal

Roberts Hits Pause on Congressional Subpoena for Trump's Tax Returns

The chief justice issued an administrative stay temporarily blocking a ruling by a panel of the U.S. Court of Appeals for the D.C. Circuit.
2 minute read

Law.com

Right to Funds from Sale of Tax Credits at Issue In Litigation Between Production Companies

State tax credits are valuable tools for helping meet the costs of producing films, TV shows, commercials, and other media and entertainment productions. But if more than one production company is involved with a project, a legal dispute can arise over which company owns the right to the tax credit funds.
5 minute read

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