Tax Law

It will likely warm the cockles of many a Biglaw heart to hear that a bunch plaintiffs’ attorneys got smacked around by a federal court for trying to steal funds from Uncle Sam. They may beat your clients — and deservedly so, since your clients were totally poisoning people — but at least they won’t be getting away with their fat paychecks. Bask in that satisfaction as you go back to your less lucrative life.

If you want to know exactly how these lawyers did it (so you know what not to do, of course), then read on.

Or if you just want to point and laugh at the irony of public interest plaintiffs’ attorneys getting tagged for failing to pay their fair share to the public coffers, you can read on for that too….

double red triangle arrows Continue reading “If You Win A Massive Judgment, Try Not To Put It Into An Illegal Tax Shelter”

Amy Chua: She’s baaaaaaack!

* “Either access to abortion will be dramatically restricted in the coming year or perhaps the pushback will begin.” We’re moving back in history. Here’s hoping pro-choice advocacy will be born anew in 2014. [New York Times]

* George S. Canellos, the SEC’s co-chief of enforcement, announced his departure on Friday, and people are already wondering whether he’ll return to his old stomping grounds at Milbank Tweed. [DealBook / New York Times]

* We hope legal educators had fun at the Association of American Law Schools annual meeting, but we hope most of all that they learned what needs to change to really make legal education pay. [WSJ Law Blog]

* “I believe women lawyers can contribute a lot to the legal system.” Saudi Arabia now has its first female law firm dedicated to bringing women’s issues to the country’s patriarchal courts. Congratulations! [RT]

* A Starbucks spokeswoman issued a defense to the cease-and-desist response letter that went viral worldwide, and it reads just like how her company’s coffee tastes: bland. [International Business Times]

* Amy “Tiger Mom” Chua is back with a vengeance, co-authoring a controversial new book (affiliate link) with her husband, Jed Rubenfeld. Which ethnic cultural groups are superior? [New York Post]

The guy in today’s story didn’t dress up like Gumby, but it’s still an amazingly stupid disguise.

* Man tried to rob a convenience store so he could go back to prison. And he almost screwed that up… [KMOV]

* The CIA’s former lawyer explains how torture came to be a go-to national policy. According to John Rizzo, author of the forthcoming Company Man (affiliate link), George W. Bush basically had no conception of what was going on, which makes a lot of sense anyway. [The New Yorker]

* Brooklyn Law’s Dean Nick Allard makes predictions for law schools in 2014. “[P]eople will look back at 2014 and say it marked the start of the new world of law: a renaissance where the respect and reputation of lawyers and law schools began to rise by measurable benchmarks.” Go ahead and laugh, I’ll wait. [TaxProf Blog]

* Paul, Weiss picks up tax partner Scott Sontag from Weil Gotshal. (Congrats to both firms, by the way, on tying for the #9 spot in our list of top-ranked law firms for 2013.) [Paul, Weiss]

* Nooooooooooooo! Judge Richard Kopf is ending his blog. [Hercules and the Umpire]

* And the hits keep on coming. Professor Kyle Graham is also leaving the blogosphere. [Non Curat Lex]

* The Ninth Circuit will start streaming all of its oral arguments next week. If you want to help them out, tune in. No promises that the panel will excoriate any prosecutors this time. [Ninth Circuit]

Megyn Kelly

* Watch out, Biglaw, the tax man is coming for you. If this bill goes through, it could put a hurting on partners’ pocketbooks at law firms with more than $10 million in gross receipts. [Blog of Legal Times]

* International firms are just discovering Africa, and are moving quickly to set up shops there. Before opening up your firm, take a quick lesson from DLA Piper: Africa is a continent, not a country. [Am Law Daily]

* Juan Monteverde, one of our Lawyer of the Year nominees, received a very public spanking from Chancellor Leo Strine of the Delaware Court of Chancery over outsized attorneys’ fees in a “dubious” shareholder suit. Ouch, that’s really gotta sting. [WSJ Law Blog (sub. req.)]

* Oh mon dieu, BU Law set up an exchange program between a law school and a foreign management school. Students might not get jobs out of it, but at least they’ll get to go to Paris. [National Law Journal]

* Politico has put together a fun little list of the ten journalists to watch in 2014, and a few lawyers made the cut, including Glenn Greenwald, Ronan Farrow, and Megyn Kelly. Congratulations, everyone! [Politico]

Another day, another round of Biglaw bonuses. Today is Hump Day, so why not pair our bonus news with some exciting lateral partner moves?

Earlier this week, Ropes & Gray announced its 2013 year-end bonus scale. It’s no Boies Schiller $300K bonus, that’s for sure, but it’s a tad more interesting than your run-of-the-mill Cravath match.

Keep reading for all of the details on the Ropes & Gray bonus, news on the firm’s latest partner class, and the announcement of a very recent lateral pick-up from a firm that’s bleeding partners….

double red triangle arrows Continue reading “Associate Bonus And New Partner Watch: Ropes & Gray (Plus A Weil Partner Pick-Up)”

In an era when “disruption” is celebrated, the world of large law firms is one of the last redoubts of conventional wisdom. For a uniquely rule- and precedent-bound profession, this makes sense. Biglaw’s conventional wisdom has the added virtue of being reliable. For example, we can count on Cravath taking the lead — at least chronologically — on bonuses, and for DLA Piper to have the most random Third developing-world offices.

Another reflection of conventional wisdom is the way in which Biglaw lends itself to — and revels in — superlatives and rankings. There tends to be a generally acknowledged and perennially dominant player (or a few) in most practice areas: Wachtell Lipton for M&A, Weil Gotshal for Chapter 11 work, Patton Boggs for lobbying, and so forth. There’s no doubt that many worthy firms get overlooked.

Last year we took a look at which firms’ practice groups were considered “underrated” by peers in the field. Among the notable 2012 nominees: Cahill for corporate law, Arnold & Porter in litigation, and Proskauer for its bankruptcy and tax practices.

We wondered whether the same practice groups were still considered by practitioners to be unfairly underrated. Or are there other firms deserving more recognition?

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This coming Friday, it is the inalienable right of all Americans to sleep off their hangovers, or riot at Walmart, or do anything at all rather than work for The Man. But Biglaw is a different country. As illustrated by Elie’s decision matrix, the “choice” of whether to work on this sacred day is, for the denizens of the law firm world, fraught with other pressures and expectations. We all know that Biglaw careers demand a Faustian bargain: in return for their fat paychecks (and bonuses?), lawyers are expected to work grueling, unpredictable hours. This time of year, that reality is brought into sharp relief: the “holiday season,” with those “family obligations” and so forth, is something that occurs elsewhere.

But law firm billable expectations are not homogeneous. There are significant differences across practice areas, seniority levels, and, of course, individual firms. So how do the various practices, employment statuses, and firms stack up?

double red triangle arrows Continue reading “The Best Of Hours, The Worst Of Hours: ATL Survey Ratings”

Counselor, you’re out of order.

Lawyer jokes notwithstanding, most lawyers are ethical, honorable, and competent. That’s why we tend to focus on attorney misbehavior in these pages; it’s more newsworthy. If a lawyer complies with the law or serves a client well, that’s not exactly “news”; it’s what lawyers are supposed to do, and what most lawyers do most of the time.

Alas, sometimes lawyers fall short of our profession’s high standards. Today we look at allegations of a high-ranking government lawyer abusing the perks of his office, a tax lawyer engaging in tax fraud, and a real estate lawyer who has people real mad — after taking $4 million from them.

Which of these attorneys deserves to be our Lawyer of the Day? We’ll describe their alleged misdeeds, outline the reasons for and against Lawyer of the Day honors, then let you vote for the winner….

double red triangle arrows Continue reading “Lawyers Of The Day: Attorneys Allegedly Acting Up”

* The author of Even Greater Response to a Cease & Desist Letter fame sent the ATL office some glitter pens because Staci asked for one in the comments. Keep being awesome Andrew Delaney! [Twitter]

* Tired of the National Zoo Panda Cam? A USPTO attorney has created the Substitute Panda Cam. I wonder if the cam will survive the shutdown. [Substitute Panda Cam]

* Well, wonder no more! Here’s a rundown of how the shutdown is treating the intellectual property world. [Patently-O]

* So if you’re part of the intellectual property legal regime that’s shut down (or any government employee off because of the shutdown), here’s a list of all the drinking specials in D.C. you can use to fill your day. [Washington Post]

* An update on Bike Dude. [Racked]

* Some advice on handling terrible clients. Alternate title: 50 Shades of Grey. [The Careerist]

* St. Charles Parish Judge Michele Morel has finally agreed to recuse herself in a trial over the rape of a 10-year-old girl. And why should she have recuse herself? Just because she has a personal relationship with the defendant’s family? Pshaw! [Times-Picayune]

* Happy 100th birthday to income tax! Back then, someone with around $12 million (in 2013 dollars) paid about 7 percent in taxes. Meanwhile, today that same person would pay… well, with deductions and carried interest exceptions, probably about 7 percent. [TaxProf Blog]

* Lawyers from the DOJ are literally begging judges to stay their litigation cases because they’re not allowed to work unless it’s an emergency. How very lucky for U.S. Air. [Blog of Legal Times]

* FYI, the IRS wants to further screw victims of layoffs. If you were recently laid off and received a severance package from your firm, this is a SCOTUS case you’ll want to follow this Term. [Reuters]

* Which Biglaw firm has the best brand in the world? We’ll give you a hint: it’s not the new top dog on the Am Law Global 100 (and that glorious firm didn’t even finish in second place). We’ll have more on this later. [Am Law Daily]

* Yet another Biglaw firm just elected its first woman chair ever. Congratulations to Jami Wintz McKeon, the power litigatrix who will lead Morgan Lewis to great success in the coming years. [Am Law Daily]

* Thanks to another huge gift from an alumnus, U. Chicago Law is going to create a business leadership program at the school. Yay! [DealBook / New York Times]

* Some corporate “girl on girl action”: ex-employees of the National Association of Professional Women are now suing the organization over a female manager’s sexual harassment. [DealBook / New York Times]

* New Jersey’s AG is desperately trying to delay the issuance of same-sex marriage licenses after a trial judge’s ruling last week. At this point, the Garden State’s arguments are just livin’ on a prayer. [Bloomberg]

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