Tax Law
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Courts
Supreme Court Unanimously Holds That The IRS Can Summon A Law Firm’s Bank Records Without Giving Notice If Their Client Owes Back Taxes
The Court unanimously agreed with the Sixth Circuit. -
Courts
Few Things Stop Bad Lawyering Like The IRS
Maybe he can recoup his losses from an in-depth Netflix bio-series. - Sponsored
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
How to best leverage generative AI as an early adopter with ethical use. -
Tax Law
Fox News' Settlement Payment To Dominion Will Be Tax Deductible
Hopefully some of the tax savings can be used to hire a full-time fact checker.
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Morning Docket
Morning Docket: 05.15.23
* LSAT lives to fight another day as ABA halts its new rule to make the exam optional in the admissions process. Nothing inspires confidence like an accrediting body that repeatedly changes its mind! [Reuters]
* Britney Spears paid Greenberg Traurig over $4 million in the aftermath of her conservatorship. It seems as though people who care about her could’ve saved her a lot of money by ending the conservatorship without requiring lawyers get involved, huh? [TMZ]
* Firms may be trying to push people back to the office, but the hybrid work experience is also fueling creative lateral recruitment because firms care a lot less about office time when lawyers are bringing over fat books of business. [Law.com]
* The absurdist YSL case continues with an attorney curing a contempt rap with an order of wings. [WSB]
* Prince Harry will be the first royal to testify in court in over a century. I guess congratulations are in order for Prince Andrew somehow failing to break that record first. [Deadline]
* Former attorney who fled the country after killing his girlfriend in “self-defense” convicted of murder. [New York Times]
* Actress Fran Drescher writes about tax law for Bloomberg. It all makes sense. [Bloomberg Law News]
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Government
IRS Will Continue To Treat Cryptocurrencies Like Property Even Though One Country Considers It Legal Tender
To understand the decision, let’s compare the tax consequences of cryptocurrency transactions under the foreign currency laws versus the current property rules stated in Notice 2014-21. -
Government
An Analysis Of The Legality Of Creating The Death Star And Using It To Destroy Planets
No Bothans were harmed in the production of this article. -
Tax Law
An Interview With Jazmen Jafar, A Lawyer Turned OnlyFans Model
A frank discussion about her new line of work outside of the legal profession. -
Government
NY Bagel Shop Finds Loophole To Get Around The State's Sales Tax
What a time to be alive! - Sponsored
The Business Case For AI At Your Law Firm
ChatGPT ushers in the age of generative AI – even for law firms. -
Tax Law
Newly Released Game Prepares Simple Tax Returns While Going On A Date
Search for deductions while searching for love. -
Small Law Firms
Tax Strategies For Solos & Smalls In A Digital And Web 3.0 World
Consult a qualified CPA and/or tax attorney with experience in digital transactions for guidance on your specific situation. -
Government
The IRS Is Seeking Public Comment On Whether They Should Tax NFTs Like Works Of Art
It is unclear why the IRS is making this announcement. -
Finance
Treat The Bank Chaos As A Reminder To Make Sure Your Trust Accounts Are Safe
Although lawyers have no control over when a bank will be in danger, they still have an ethical duty to safeguard their clients’ money. -
Courts
What Questions Will The Supreme Court Justices Ask When They Consider The Legality Of Student Loan Forgiveness?
The two issues in the case are whether the plaintiffs challenging the proposal have standing to file suit and whether the proposal violates separation of powers and exceeds executive authority.
Sponsored
Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
Legal AI: 3 Steps Law Firms Should Take Now
Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
Sponsored
The Business Case For AI At Your Law Firm
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
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Government
Tax Benefits Available For Victims Of The Crypto Crash And Scams
Investors who lost money on cryptocurrency have some ways to reduce their tax bill but it will depend on their own facts and circumstances. -
Government
Paper Claims That Black Taxpayers Are More Likely To Be Audited
However, the paper uses questionable assumptions to determine a person’s race and does not take into account how the audits were resolved. -
Finance
IRS Agents Are The Ideal Kind Of Law Enforcement: They Target The Rich And Don’t Shoot Black People
Rich people who underreport their income account for the vast majority of the taxes that are owed but unpaid in America. -
Government
What Will Happen Now That Trump's Tax Returns Have Been Made Public?
It remains to be seen whether Republicans will try to publicize private tax returns as payback. -
Government
House Republicans Seek To Defund The IRS And Replace The Income Tax With A National Sales Tax
The House Republican proposals to weaken the IRS is opposed by Democrats, half of the country, and most tax professionals. -
Tax Law
IRS Announces That Payment Apps Will Not Have To Issue Form 1099s For People Who Received More Than $600 In 2022
1099 reporting requirements will be delayed. -
Tax Law
The Winners And Losers Of The Student Loan Moratorium
The student loan system is convoluted. While some people were able to benefit from the moratorium, others did not.