Tax Law

Does tax bill violate the Constitution by treating residents of high-tax states differently?

Some governors of high-tax states are considering a constitutional challenge to the $10,000 cap on state and local deductions for income and property taxes in the tax bill passed by Congress last month.

Jan 4, 2018 7:40 AM CST

Tax bill aims to reduce confidential sex harassment settlements

A provision in the consensus tax bill seeks to reduce the use of confidential sex harassment settlements. The provision bars a business expense deduction for any settlement, payout or attorney fees related to sexual harassment or sexual abuse when a nondisclosure agreement prevents disclosure of the payments, the New York…

Dec 18, 2017 4:55 PM CST

Consensus tax bill includes law firms in pass-through tax relief, with limits

Law firms and other professional service entities won’t be entirely excluded from tax relief for pass-through entities in the final version of the tax bill that is awaiting passage.

Dec 18, 2017 1:38 PM CST

ABA asks Congress to include law firms in pass-through tax relief

ABA President Hilarie Bass has written a letter to House and Senate leaders working on the consensus tax bill asking them to include law firms and other professional service businesses in tax relief for pass-through entities.

Dec 13, 2017 2:00 PM CST

Court narrows order requiring Coinbase to give user data to the IRS

A federal judge has ordered cryptocurrency exchange Coinbase to hand over user data to the Internal Revenue Service. Twelve months into this court battle, Coinbase and the IRS have been arguing over the scope of a 2016 “John Doe” summons requesting information on all Coinbase user “transactions conducted in convertible…

Nov 30, 2017 3:30 PM CST

ABA voices opposition to elimination of school loan interest deduction in Tax Cuts and Jobs Act

In response to a tax bill proposal to eliminate student loan interest deductions, the American Bar Association has asked that they be kept in place. “Of particular interest to the American Bar Association is the powerful financial disincentive for law students to enter the important function of public service in…

Nov 29, 2017 3:41 PM CST

Trump Jr. asked for documents showing illegal proceeds went to Clinton campaign, Russian lawyer says

Russian lawyer Natalia Veselnitskaya describes her June 2016 meeting with Donald Trump Jr. as a failure, she says in an interview with Bloomberg News. Veselnitskaya says Trump Jr. indicated that a law targeting Russia could be re-examined if Donald Trump were elected, Bloomberg reports. He also asked whether Veselnitskaya had…

Nov 6, 2017 11:23 AM CST

Sessions blasts judges issuing nationwide injunctions, calls them ‘super-legislators’

Attorney General Jeff Sessions on Thursday criticized judges who have issued nationwide injunctions that blocked Trump administration policies, calling the judges “super-legislators for the entire United States.”

Oct 26, 2017 3:22 PM CDT

Will law firms benefit from Trump tax plan? Details are sketchy

Some law firms might benefit if President Donald Trump’s plan to limit the maximum tax rate of pass-through entities wins approval. But large law firms may not qualify, the New York Law Journal (sub. req.) reports. The tax plan proposes limiting the tax rate to 25 percent for pass-through businesses…

Oct 3, 2017 7:00 AM CDT

Correspondence shows attorney preferred that Trump not certify financial disclosure as true

A lawyer representing President Donald Trump initially resisted having him certify his 2016 personal financial disclosure as true, The Associated Press reported Friday. The AP reported on correspondence between the Office of Government Ethics and Attorney Sheri Dillon of Morgan, Lewis & Bockius, and obtained through a Freedom of Information…

May 19, 2017 3:53 PM CDT

Marketing experts: Morgan Lewis won’t be hurt by SNL’s treatment of its Trump tax letter

A letter written by Morgan Lewis & Bockius to President Donald Trump was the source of jokes on “Saturday Night Live” last weekend. Marketing experts tell the Legal Intelligencer (sub. req.) there will probably be no negative impact on the law firm. The SNL bit poked fun at the letter…

May 16, 2017 12:46 PM CDT

Trump signs executive order relaxing IRS ban on political activity by tax-exempt churches

Updated: President Donald Trump signed an executive order Thursday that directs the Internal Revenue Service to exercise restraint when enforcing restrictions on political activity by tax-exempt churches and charities.

May 4, 2017 12:45 PM CDT

Trump’s tax plan largesse extends to law firms

President Donald Trump’s tax blueprint unveiled Wednesday contains a provision that would benefit law firms. Under the plan, corporations that currently pay a tax rate of 35 percent would see their rate slashed to 15 percent, the New York Times, the Washington Post and the Baltimore Sun report. The lower…

Apr 26, 2017 3:15 PM CDT

ABA scores wins on attorney-client privilege and independence of the legal profession

The ABA achieved some significant victories during the past year by advocating for revisions to key federal regulations that will protect the independence of the legal profession and preserve the confidential lawyer-client relationship.

Mar 1, 2017 1:05 AM CST

Chicago motorists discover there is no time limit on the collection of parking tickets

In Illinois, there is no statute of limitations for murder, arson or parking tickets. Many Chicago drivers are learning that lesson the hard way, the Chicago Tribune reports. The city has increased collection of debts five years or older, and drivers with unpaid tickets are getting notices for infractions that…

Jan 24, 2017 12:26 PM CST