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New York Law Journal

Using Per Diem Rates for Business Travel Deductions

Relying on per diem rates simplifies tax records. The paperwork for business travel are not submitted with tax returns; they are retained with tax records. Retention of the paperwork is essential in case the IRS challenges deductions for business travel.
6 minute read

Connecticut Law Tribune

Murky? Connecticut Supreme Court Ruling Raises Questions About Statutory Interpretation

"Broadly speaking, I thought Justice Ecker's concerns potentially open the door to a little more looking at how we describe what's ambiguous and what's not, to really wrestle with that a lot more," plaintiff's attorney Brenden P. Leydon said.
4 minute read

Daily Business Review

Florida Appeals Court Revives Lawsuit Against Morgan Lewis Over Illegal Tax Shelter

A Florida appeals court reversed a trial court's dismissal of a lawsuit against Morgan, Lewis & Bockius that accuses the Am Law 50 firm of aiding and abetting both fraud and breach of fiduciary duty, and engaging in civil conspiracy.
6 minute read

New York Law Journal

Congress Extends Limitation on Deduction of Business Losses

On Aug. 16, President Joe Biden into law the "Inflation Reduction Act," which, among other things, extended the limitation on the deduction of certain business losses from Jan. 1, 2027 to Jan. 1, 2029. The authors believe that this extension provision, although not highly publicized, could have a significant effect on businesses that have tax losses, including rental real estate businesses.
4 minute read

The Legal Intelligencer

Pennsylvania Judge Approves $27M Settlement in 'Brutal' 6-Year Tax Class Action

The case established any citizen could challenge a government's tax increase so long as it was illegally obtained or unnecessary, according to Arthur Wolk, founding partner of the Wolk Law Firm, who represented the taxpayers.
3 minute read

New York Law Journal

Donors' Loss of Charitable Tax Deduction … and They Incurred Income Tax To Boot

In his Estate Planning and Philanthropy column, Conrad Teitell discusses the recent case of Patricia and Kevin Keefer, whose charitable contribution was disallowed by the IRS. The case is a good example of how careful you need to be with charitable contributions.
6 minute read

New York Law Journal

Duty of Consistency Limited: 'Belmont Interests v. Commissioner'

The 'Belmont Properties' decision is an important reminder that the consistency rule may not be applicable where, for example, the government has been informed of the relevant facts and accepted the taxpayer's erroneous treatment without challenge in an earlier audit, in the context of a mutual mistake of law.
9 minute read

The American Lawyer

Brown Rudnick Lures Burns & Levinson Tax Partner

Brown Rudnick, ranked 146 in the Am Law 200, has made a number of management changes recently, as part of a succession management plan designed to empower its next generation of leaders.
2 minute read

Texas Lawyer

Perkins Coie Expands National Practice Offering, Adds Two Tax Litigators in Texas

Winstead shareholders Stephanie Loomis-Price and Abigail Earthman have moved to Perkins Coie in Texas, where they are co-chairs of the firm's new tax and fiduciary litigation industry group.
4 minute read

Texas Lawyer

Kirkland Expands Tax Practice With Vinson & Elkins Partner in Houston

Vinson & Elkins tax controversy partner David Cole has jumped to Kirkland & Ellis' Houston office, where he will practice with former Baker Botts partner Richard Husseini as they both anticipate rising tax controversy demand.
2 minute read

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