Tax Law

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Position Type / Location: Law Firm – Tax Associate (Washington, DC)
Position Description: The Washington D.C. office is seeking a mid-level tax associate to work on project finance transactions. This magic circle law firm makes The American Lawyer’s AmLaw 100 rankings. The firm’s practice areas include corporate, bankruptcy and restructuring, intellectual property, litigation, project finance, reinsurance and insurance, and tax. The successful candidate must have at least 3-6 years experience in partnerships, foreign tax planning, leveraged leasing, subchapter C and tax-exempt financing.
For more information, see job #7697 on Lateral Link.
Earlier: Prior Job of the Week listings (scroll down)

Green Bay Packers football Above the Law blog.jpg* Does the Supreme Court’s Stoneridge decision give the “getaway drivers” of securities fraud a free pass? [OverHedged]
* Apparently Green Bay fans really like the Packers. []
* Miss Loyola 2L? Meet Kirsten Wolf. [WSJ Law Blog]
* Did Barack Obama receive an illegal endorsement? [TaxProf Blog]
* Speaking of Obama, his minister had this to say about Bill Clinton: “He did the same thing to us that he did to Monica Lewinsky.” Can someone please remove the cigar from the national vajayjay? [Baltimore Sun]

Hillary The Movie Above the Law blog.jpg* Actually, Judge Lamberth, calling a presidential candidate as “a European socialist” constitutes an endorsement — at least at most American law schools. [AP via WSJ Law Blog]

* News you can use: under the “Free File” program, opening tomorrow, the IRS and its private-sector partners will provide free tax preparation and electronic filing services to qualifying taxpayers (AGI of $54,000 or less — sorry, Biglaw denizens). [TaxProf Blog]

* The law school essay question: an unrecognized art form? [PrawfsBlawg]

* Practice pointer: don’t “recreate” correspondence to use as evidence in your case. Dramatic reenactments belong on television, not in court. [Feminist Law Professors]

* We just got called “the Matt Drudge of the legal world.” Our thanks to Neil Squillante for making our day. Now where did we put our animated siren GIF? [TechnoLawyer]

Shawn Hynes Shawn T Hynes Cleary Gottlieb Above the Law blog.jpgAs the old adage goes, “A lawyer who represents himself has a fool for a client.” And there is some anecdotal evidence in support of that proposition. See, e.g., Elana Glatt / Elana Elbogen (depending upon how you view the merits of her case against her wedding florist).
Here’s another example of what can happen when Biglaw litigators represent themselves. From TaxProf Blog:

The Tax Court today decided Hynes v. Commissioner, T.C. Summ. Op. 2008-1 (1/2/08), a case involving Shawn T. Hynes, a fifth year securities litigation associate in Cleary Gottlieb’s New York City office. The taxable year at issue was 2003, when Hynes was a Penn 3L (he tranferred to Penn after completing his first year at Oregon).

More about the facts of Shawn Hynes’s case, and how he got benchslapped by the Tax Court, after the jump.

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Here’s the latest Job of the Week, courtesy of ATL’s career partner, Lateral Link. Check out their new, redesigned website by clicking here.
(Since we didn’t post a Job of the Week last week, due to the abbreviated holiday publication schedule, we’ll give you two this week — one today, and one near the end of the week.)
Position: Transactional tax associate at international consulting firm
Location: New York
Description: International management consulting firm seeks associate to join its Transaction Tax Services group.
More details, after the jump.

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* Pakistan sets parliamentary elections. [CNN]
* What’s going on with the AMT? [ABA Journal]
* State Department absolves Blackwater of certain shootings. [MSNBC]
* Initial OJ hearing begins today. [MSNBC]
* Reno businessman pleads guilty during murder trial. [CourtTV]

Charles Rangel Rep Charles B Rangel Charlie Rangel tax Above the Law blog.jpgNor does he want to raise your taxes, at least if you’re a member of the middle class (which many Biglaw lawyers are, at least if “middle class” is broadly defined). He actually wants to bring the middle class tax relief.
Since you all felt so strongly about it, judging from the hundreds of comments, we thought we’d bring you this quick follow-up to last week’s post about Rep. Charles Rangel’s new tax plan. In our write-up, we highlighted the 4 percent surtax for single earners with incomes over $150,000, or married couples with incomes over $200,000.
But Rep. Rangel argues that the bill is really all about abolishing the alternative minimum tax (AMT). He makes this argument today in the editorial pages of the Wall Street Journal (not the natural habitat of a Charlie Rangel byline).
More after the jump.

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Charles Rangel Rep Charles B Rangel Charlie Rangel tax Above the Law blog.jpgMaybe associates clamoring for yet another pay raise have a point. Maybe $160,000 is not enough.
Because, if certain Democrats get their way, a new surtax will be imposed that will hit even first-year associates at most large law firms. Under a tax plan proposed by House Ways and Means Committee Chairman Charles Rangel (D-NY), a 4 percent surtax will hit single earners with incomes over $150,000, or married couples with incomes over $200,000. For incomes above $500,000, which are increasingly common in Biglaw, the surtax would rise to 4.6 percent.
So, readers, what do you think? Many lawyers harbor progressive political views. Are you willing to put your money where your mouth is, and support politicians who will raise taxes on people like you?
Update: As noted by several commenters, the full plan has several other provisions. For example, it would lower the top corporate tax rate to 30.5% from 35%, and it would scrap the alternative minimum tax (AMT). For more details, see here.
Feel free to vote in our reader poll, after the jump.

double red triangle arrows Continue reading “Nationwide Pay Raise Watch: Time to Soak the Rich Upper Middle Class?”

toilet bowl pink toilet Above the Law blog.jpg* It’s hard to believe this car was parked in Brooklyn, of all places. [Althouse]
* The law school hiring process privileges glibness — and is that a bad thing? Law professors are hired (1) to train lawyers, of all people, and (2) to write articles that sound like they’re saying a lot, even when they’re not. Glibness would seem to be a BFOQ. [PrawfsBlawg]
* Once our Surgeon General starts getting on our case about drinking, it’s time to leave the country. But don’t move to the U.K. [Charon QC: The Blawg]
* Speaking of emigration, Tonga says: “Give us your tired, your poor, your disgraced and disbarred lawyers, yearning to breathe free.” [Blogonaut]
* Good news, Pennsylvanians. According to Professor Orin Kerr, “you can scream at your overflowing john all you want without violating the state’s disorderly conduct offense.” [Volokh Conspiracy]
* Martindale-Hubbell ratings: Pay to play? We find them less useful than they might otherwise be because so many lawyers aren’t rated. Will charging a fee for inclusion exacerbate the problem? [Real Lawyers Have Blogs; HireTrade Blog]
* Thoughts on the Eighth Circuit fantasy baseball ruling (mentioned in Morning Docket), from Professor Neil Richards. [Concurring Opinions]
* Dionne Warwick is a tax deadbeat? Say it ain’t so! [TaxProf Blog]
* Have a favorite New York blawg / blawger? Vote for them here. [Sui Generis]

James Colliton Jim Colliton Cravath Swaine Moore Above the Law blog.jpgAnd we’re not talking about CSM partners working young associates to death, riding them hard and putting them away wet. We’re speaking more literally.
We mentioned this story briefly at the time of his guilty plea, but his sentencing yesterday gives us the opportunity to revisit it in more depth. From the AP:

A tax lawyer who paid a woman so he could have sex with her two underage daughters was sentenced Thursday and declared a sex offender but wasn’t expected to spend much more time behind bars.

James Colliton pleaded guilty this month to second- and third-degree statutory rape and patronizing a prostitute. He received a sentence of one year on each count, to run concurrently.

But because he has already been jailed for 19 months, Colliton, 43, was eligible for immediate release. His lawyer, Howard Greenberg, said he expected the defendant to be released Thursday.

So where’s Colliton headed? Due to his felony conviction, he won’t be able to return to the practice of law (at least not immediately). But might Cravath give him a non-legal or administrative job, perhaps in Recruiting? He likes working with young people.
(Such a gig, however, probably wouldn’t pay Colliton the $500,000 salary that he earned as a senior or permanent associate at Cravath — more than partners at some firms.)
NYC Lawyer Sentenced for Underage Sex [AP]
‘Lolita Lawyer’ among worst of sex offenders [New York Daily News]
Former Cravath Associate Pleads Guilty in Underage Sex Scandal [New York Law Journal]
In Plea Deal, Ex-Cravath Lawyer Admits To Sex Crimes [WSJ Law Blog]
Earlier: Tax Lawyers in Jail

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