Court cases, judgements and ongoing coverage of tax topics with a legal perspective
By Conrad Teitell | January 24, 2025
The author states "Taxpayers are always responsible for the accuracy of information reported on their tax returns. The IRS emphasizes participating in an abusive scheme to reduce tax liability can result in assessment of the correct tax owed, penalties, interest, fine and oh yes, imprisonment."
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By Alyssa Aquino | January 24, 2025
The circuit court said that to properly plead a False Claims Act case against HCL Technologies, the workers need to show the company shirked a duty to pay more taxes than it did. But HCL has no obligation to pay taxes on higher salaries they hadn’t paid, the circuit said.
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By The Law Journal Editorial Board | January 24, 2025
With the exception of assiduous record keepers who know to the penny every gift to every charity in the preceding year, it is easy to contribute more to a charity than would have been intended.
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By William M. Pinzler | January 23, 2025
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.
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By Alyssa Aquino | January 21, 2025
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.
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By Alyssa Aquino | January 17, 2025
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.
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By Katherine Wheeler and Philip Karter | January 17, 2025
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.
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By Jeremy H. Temkin | January 15, 2025
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."
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By Jerrika Anderson | January 7, 2025
According to the IRS Criminal Investigations 2023 Annual Report, fraudulent schemes cost the government about $5.5 billion.
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By Kevin M. Clyne and David C. Wilkes | January 7, 2025
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?"
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