Tax Law
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Tax Law
The Taxman Is Contacting People About Their Cryptocurrency Transactions
If you receive a letter from the IRS about your crypto trades, contact a tax professional for guidance and submit amended or delinquent returns as soon as possible. -
Courts
House Democrats And Trump Both Willing To Piss On Constitution To Avoid Impeachment
We're asking the Supreme Court to wreck things in order to get/hide Trump's taxes. - Sponsored
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
How to best leverage generative AI as an early adopter with ethical use. -
Government
Is Imposing A Wealth Tax A Good Idea?
Is it better to encourage the wealthy to invest in the private sector or non-profits instead? And will it create any distortions in economic behavior?
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Morning Docket
Morning Docket: 05.28.19
* Law firm diversity score cards are here, and…. African-American lawyers are still not being represented. Yikes. [Law.com]
* Judge Kozinski may be gone from the Ninth Circuit, but it is still hard work to change the culture there. [Big Law Business]
* Oakland is the second city looking to decriminalize hallucinogenic mushrooms. Plan your vacations accordingly. [The Hill]
* In a continuing embarrassment to NYC, Rudy Giuliani wants a new role in the 2020 Trump campaign. [Politico]
* 5 firms have been cut out of the NFL concussion case. [Law360]
* Ted Wells for the defense, in New Jersey tax incentives case. [National Law Journal]
* Will New York strengthen sexual harassment laws? Well, maybe. But at least they’re having hearing on the issue. [New York Law Journal]
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Morning Docket
Morning Docket: 05.22.19
* President Donald Trump has appealed a federal judge’s order allowing the House Oversight and Reform Committee’s subpoena of his financial records to the D.C. Circuit, where — GASP! — Merrick Garland serves as chief judge. The fact that Garland is involved apparently matters a lot to the MSM, you guys. [The Hill]
* “The memo says they don’t have to assert a legitimate legislative purpose — or any purpose at all.” According to a confidential draft IRS memo, tax returns must be given to Congress upon request, unless the president claims executive privilege. This pretty much blows up Trump’s rationale for refusing to turn over his taxes thus far, but opens up a whole new way for him to avoid doing so. [Washington Post]
* “The Supreme Court is stacked against us for the first time in my lifetime. I feel like it’s scarier than ever before.” As hundreds of people protested state abortion bans before the Supreme Court, Democratic presidential candidates joined in, lending their support to all the women gathered. [Reuters]
* Meet Leonard Leo, the Federalist Society executive Vice President who serves as Trump’s unofficial judicial adviser to make the federal judiciary “great” (i.e., extremely conservative) again. How’s he doing that? With millions upon millions of dollars of “dark money.” He didn’t want to talk about that part of it. [Washington Post]
* Buckley, the law firm formerly known as Buckley Sandler, has filed suit against Johnny Depp, claiming that the actor skipped out on about $350K in legal fees and costs. Leave the poor man alone, he’s got better things to spend his money on… like scarves. [American Lawyer]
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Tax Law
Notes From The ABA Tax Conference: IRS Hiring, Modernization, Taxing The Gig Economy, And Tax Inequality
The May tax conference had something for everyone -- from pro bono to M&A. -
Crime
Tax Return Preparation Software Companies Investigated And Sued For Trying To Get People To Pay For Free Tax Returns
Many people who turned to these companies expecting free filing ended up saying another four-letter F word instead. -
Morning Docket
Morning Docket: 05.08.19
* Feeling cute, might not allow Mueller to testify, idk: According to White House press secretary Sarah Huckabee Sanders, President Donald Trump’s “feeling on the matter” is that special counsel Robert Mueller shouldn’t be permitted to testify before the House. [Huffington Post]
* As it turns out, according to recently revealed tax transcripts for the years 1985 to 1994, Trump was in some deep financial doo-doo. His lawyer, Charles J. Harder of Gawker takedown fame, says the tax documentation is not only “demonstrably false,” but that the paper of record’s statements about it is “highly inaccurate.” [New York Times]
* In case you missed it, former White House counsel Don McGahn is still following Trump’s orders. He ignored a House Judiciary Committee subpoena for his testimony and records, citing a letter from current White House counsel Pat Cipollone on executive privilege. [National Law Journal]
* Michael Avenatti has been given right days to hire a defense attorney in the federal bank fraud case he’s facing, lest he wish to disclose his financials to the court for a public defender to be appointed. [Courthouse News Service]
* Do we really need another law school? That’s the hope down in Shreveport, Louisiana, where Southern University may be opening another campus following a study to determine its viability. [710 KEEL]
- Sponsored
Legal AI: 3 Steps Law Firms Should Take Now
If 2023 introduced legal professionals to generative AI, then 2024 will be when law firms start adapting to utilize it. Things are moving fast, so… -
Government
Bill Barr Is The Sideshow, Steven Mnuchin Is The One Who Needs To Lose His Job And Go To Jail
Barr is violating norms, Mnuchin is violating laws. -
Government
IRS Grants Tax Exempt Status To Satanic Temple
Is it appropriate for a government agency to decide which belief system is worthy of tax exemption? -
Small Law Firms
Contract Attorneys Must Watch Their Tax Withholdings To Avoid A Nasty Surprise Bill
Contract attorneys must monitor withholdings and pay estimated taxes -- just like every solo practitioner does. -
Law Schools
If You Are Married With Student Loans, You Might Save Money By Filing Your Tax Returns Separately
Of course, this is easier said than done. In reality, the calculation and choosing how to file can get complicated. -
Law Schools
The Best Law Schools For Tax Law (2020)
A ranking for what may be considered one of the most prestigious and sophisticated practice areas.
Sponsored
The Business Case For AI At Your Law Firm
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
Sponsored
Legal AI: 3 Steps Law Firms Should Take Now
Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
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Finance
Consider This Your Friendly Tax Season Reminder That Trump’s Supposed Tax Cut Was Just Another Scam
The Tax Cuts and Jobs Act of 2017 was a corporate giveaway and a messaging scam. -
Morning Docket
Morning Docket: 02.28.19
* Uh-oh! In the wake of Michael Cohen’s testimony, Chairman Rep. Elijah Cummings of the House Oversight Committee sent letters to President Trump’s tax attorney from Morgan Lewis and the Trump Organization’s outside counsel from Michael Best requesting their appearance for a “transcribed interview.” [National Law Journal]
* After widespread rebuke, the Florida Bar has officially opened an ethics investigation into Rep. Matt Gaetz’s alleged witness tampering of Michael Cohen via tweet prior to his testimony before the House Oversight Committee. [Daily Business Review]
* Milbank’s profits exceeded the $1 billion mark in 2018, which the firm is absolutely thrilled about. The firm less thrilled about its all-male partner class, and unlike in prior years, they haven’t been listed in a press release. [New York Law Journal]
* Hot on the heels of announcing it intends to become a nonprofit, Florida Coastal Law asked a court to dismiss the accreditation suit it filed against the ABA, saying it’s “no longer necessary to protect the interests of our students.” [ABA Journal]
* “For decades a lot of young lawyers have missed opportunities to build families and this technology puts that ability back into their hands.” Bill now, procreate later? Lawyers are flocking to freeze their eggs and embryos. [American Lawyer]
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Small Law Firms
Should A Professional Prepare My Income Tax Returns?
As your life gets more complicated, getting professional help is recommended. -
Biglaw
Many Lawyers Will Be Getting Screwed This Tax Season
You can probably kiss that refund check you were hoping for goodbye. -
Morning Docket
Morning Docket: 02.08.19
* Earlier this week, Justice Samuel Alito blocked a Louisiana abortion law, and now a divided Supreme Court has done the same, with Chief Justice John Roberts joining with the Court’s liberals to protect women’s right to choose without undue burdens. Justice Brett Kavanaugh penned the dissent — so much for “precedent on precedent.” [USA Today]
* After some back and forth over the threat of a subpoena, Acting Attorney General Matt Whitaker has agreed to testify publicly on the Mueller probe before the House Judiciary Committee bright and early tomorrow morning. [Washington Post]
* “There’s no doubt that the talent wars in tax have definitely heated up.” As it turns out, the Tax Cuts and Jobs Act is really living up to its name in that it’s creating a lot of new jobs — for tax lawyers and accountants, that is. [Wall Street Journal]
* “I always thought of him as a good lawyer. I’m not so sure I think the same thing about him today.” Now that he’s serving as Trump’s counsel, New York lawyers simply “don’t understand” who the new and improved(?) Rudy Giuliani is. [Law.com]
* Students at Harvard Law really want the school to continue its support of a pilot federal clerk hiring program that prevents judges from offering clerkships until applicants have completed their second year of school. [Harvard Crimson]
* Lawyers representing Nick Sandmann, the Covington Catholic student who went viral after his run-in with a Native American elder during a D.C. protest, have sent an evidence-preservation letter to CNN prior to suing for defamation. [Daily Report]
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Small Law Firms
5 Reasons Why Your Taxes Might Be Higher Under The New Tax Law
For some, the the Tax Cuts And Jobs Act may not be as great as it sounded. -
Law Schools
How To Choose Where To Get Your Tax LL.M. Degree
Remember that which school is right for you depends on your professional goals.