Tax Law

Willkie adds 5 partners, 6 associates from this BigLaw firm, adding to growing Chicago office

Willkie Farr & Gallagher has nearly 100 lawyers in its Chicago office after adding five partners and six associates from Mayer Brown.

Aug 26, 2024 11:21 AM CDT

Convicted lawyer’s victimhood claim is ‘absolutely delusional,’ judge says at sentencing hearing

A Chicago lawyer sentenced to prison for bank embezzlement Tuesday interrupted the judge throughout the proceeding and claimed that the case against him “is an evil that’s going on here.”

Aug 14, 2024 10:30 AM CDT

Duane Morris bestows partner title on powerless attorneys to shift tax and business costs, suit alleges

Duane Morris reduces business expenses and tax obligations for equity partners by shifting some of the burdens to lawyers who carry the partner title but have no equity or power in the law firm, according to a lawsuit filed Wednesday.

Aug 1, 2024 10:55 AM CDT

Judge’s sanctions threat based on just one misused word, Hunter Biden’s attorneys say

Lawyers defending Hunter Biden, the son of President Joe Biden, say they misused just one word in a motion to dismiss a special counsel’s tax evasion case, and they are not deserving of sanctions.

Jul 31, 2024 8:51 AM CDT

Former McElroy Deutsch CFO apologizes for ‘terrible decisions’ before getting prison time for embezzlement

The former chief financial officer of McElroy, Deutsch, Mulvaney & Carpenter was sentenced to five years in state prison Friday for embezzling more than $1.5 million from his law firm and evading state income taxes.

Jul 30, 2024 8:46 AM CDT

Targeting white-collar crime, DOJ seeks more whistleblowers

Under a Biden administration program the Justice Department plans to unveil within weeks, authorities will offer whistleblowers who provide tips that lead to successful prosecutions a percentage of the resulting penalties and fees—an amount that could total millions of dollars.

Jul 10, 2024 3:30 PM CDT

Supreme Court upholds Trump tax provision on offshore earnings

The Supreme Court on Thursday rejected a challenge to an obscure provision of President Donald Trump’s 2017 tax package, ending a lawsuit that many experts feared could destabilize the nation’s tax system.

Jun 20, 2024 9:30 AM CDT

‘Colorful’ attorney with ‘massive client list’ sentenced for $2M theft, impersonating his lawyer

A New Jersey lawyer was sentenced to 5½ years in prison Thursday for stealing more than $2 million from his clients and, after he was charged, impersonating his lawyer in a letter to a bank.

Jun 4, 2024 9:54 AM CDT

Baker McKenzie partner drops suit seeking IRS documents on partnership scrutiny

A Baker McKenzie tax partner has dropped his lawsuit seeking documents from the Internal Revenue Service about its tougher policies for auditing partnerships.

May 23, 2024 1:57 PM CDT

With reclassifying proposal for cannabis, companies are seeing green

The smoke is finally clearing on decades of stigma. On Thursday, the White House Office of Management and Budget signed off on a proposal for the reclassification of marijuana, puffing the way forward from a Schedule I drug to a Schedule III drug.

May 17, 2024 12:11 PM CDT

Former BigLaw partner failed to pay taxes on about $3.4M in income, plea agreement says

A former partner at Husch Blackwell and Dykema Gossett has reached an agreement to plead guilty to failing to pay taxes on about $3.4 million in income.

May 15, 2024 9:11 AM CDT

Viral video shows former Rikers Island inmate as she learns she passed bar exam on first try

A woman who served six months in prison at Rikers Island in New York as a teenager passed the bar exam on the first try, a moment captured in a viral video posted to TikTok.

May 9, 2024 1:55 PM CDT

Former McElroy Deutsch CFO pleads guilty to embezzling more than $1.5M from firm

The former chief financial officer of McElroy, Deutsch, Mulvaney & Carpenter has pleaded guilty to embezzling more than $1.5 million from the law firm over a six-year period and failing to pay more than $22,000 in state income taxes.

May 9, 2024 9:27 AM CDT

Former general counsel failed to file federal tax returns while earning $54M, he admits in guilty plea

The former general counsel for the Moody’s Corp. pleaded guilty last week to willfully failing to pay tax returns during a four-year period in which he earned $54 million in total gross income.

Apr 30, 2024 9:30 AM CDT

Nina Olson has devoted her career to protecting taxpayer rights

When Nina Olson retired from the Internal Revenue Service in 2019, she knew her work wasn’t finished. “I kept saying, ‘I’m privileged and lucky to have been in the IRS for 18 years, and to have a sense of how the IRS works,’” she says. “I needed to share it in some way.” That same year, Olson started the Center for Taxpayer Rights.

Mar 28, 2024 2:55 PM CDT