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New York Law Journal

'Farhy v. Commissioner': D.C. Circuit Reverses Win for Taxpayers

This article reviews the two decisions in 'Farhy v. Commissioner' and discusses the implications for determining the assessability of penalties going forward.
8 minute read

Daily Business Review

IRS Continues Auditing Employee Retention Credit Claims for Fraud, Offers Protection for At-Risk Small Businesses

  Over the past year, the Internal Revenue Service (IRS) has discovered billions of dollars in potentially fraudulent Employee Retention Credit…
5 minute read

The Recorder

California Supreme Court Appears Wary of Blocking Anti-Tax Initiative From November Ballot

An attorney for Gov. Gavin Newsom and legislative Democrats said the Taxpayer Protection and Government Accountability Act poses significant harm if it's left on the November ballot. California justices seemed skeptical of that argument.
4 minute read

Texas Lawyer

Kasowitz Benson Client to Continue Defamation Suit Against USA Today

The appellate court opinion concluded that nothing in the record for either court found Ryan's clients' arguments were made in "bad faith" or without citation to legal authority.
3 minute read

The Legal Intelligencer

Considerations in Conducting Tax Due Diligence in Business Acquisitions

Details of diligence engagements vary depending on the size and complexity of the target business, transaction budget, and the sophistication of accountants and other advisers, but they are usually intricate and time-sensitive. Errors can result in substantial tax liability and exposure. This article focuses on federal income tax aspects of tax due diligence from the perspective of purchasers' attorneys.
6 minute read

Corporate Counsel

Ex-Moody's GC Who Earned $54M in 4 Years Pleads Guilty to Not Filing Tax Returns

John Goggins appeared in federal court in New Jersey Thursday and pleaded guilty to not filing his tax returns for 2018, 2019, 2020 or 2021.
2 minute read

Litigation Daily

Latham's 7-Year Fight to Reshape New York City Property Taxes

The firm won a ruling from New York's high court last month finding the city's property tax system was "unfair, inequitable and has a discriminatory disparate impact on certain protected classes of New York City property owners."
6 minute read

New York Law Journal

An Uncharitable Regulation: Tax Court Invalidates Conservation Easement Regulation

In their Financing column, Ezra Dyckman and Charles Nelson discuss the recent Tax Court case, Valley Park Ranch, LLC v. Commissioner, which "is significant because it illustrates the Tax Court's willingness to invalidate a longstanding regulation based on procedural flaws that occurred almost 40 years ago."
5 minute read

New York Law Journal

Charitable Gifts for Prisoners: The Lighter—or Heavier—Side of the Law

In this Estate Planning and Philanthropy column, Conrad Teitell presents a letter he once received from a librarian at the Federal Correctional Institution in El Reno, OK, requesting law book donations for their law library. He also includes his response, which highlights potential tax issues with the request.
4 minute read

New York Law Journal

Sham Stock Sales: 'Acqis Technology v. Commissioner'

'Acqis Technology v. Commissioner' confirms the continued vitality of the doctrine in the context of an apparent scheme to evade tax with respect to proceeds attributable to the settlement of patent infringement claims.
9 minute read

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