News & Analysis as of

False Claims Act (FCA) Tax Reform

Brownstein Hyatt Farber Schreck

State AGs Eye Crypto Assets As Target for FCA Tax Liability

As the public’s exposure to digital assets increases, everyone from institutional investors to individual enthusiasts and curious dabblers alike will be wise to consider the accompanying increased legal exposure. One example...more

McDermott Will & Emery

New York Legislation Proposes to Retroactively Remove FCA Culpability Standard for Tax Law Claims

McDermott Will & Emery on

With Halloween just a few weeks away, a scary proposal is brewing in the New York State Legislature that should give taxpayers chills. Companion bills Assembly Bill 11066 and Senate Bill 8872 were recently introduced by...more

Jones Day

Deductibility of Fines and Penalties: New Guidance Leaves Key Questions Unanswered

Jones Day on

Proposed IRS regulations clarify when fines and penalties are deductible but leave important issues unresolved. The U.S. Internal Revenue Service has released proposed regulations clarifying when fines, penalties, and...more

Morrison & Foerster LLP

MoFo New York Tax Insights - Volume 9, Issue 7

APPELLATE DIVISION HOLDS THAT BANK MUST APPLY NOLS IN YEAR IT WAS TAXED ON NON-INCOME BASE - The Appellate Division has held that a taxpayer was required to use its net operating loss (“NOL”) carryforward to decrease its...more

Foley & Lardner LLP

IRS Issues Transitional Guidance Regarding the New "Restitution" Tax Deduction That Affects False Claimes Act and Other Government...

Foley & Lardner LLP on

Effective immediately, a settlement agreement or a judgment with the government must set forth the specific amount of restitution, remediation of property, or monies paid to come into compliance with any law violated, for...more

Morrison & Foerster LLP

MoFo New York Tax Insights - Volume 9, Issue 3

NYC TRIBUNAL IMPOSES ITS OWN SOURCING METHODOLOGY FOR RECEIPTS FROM SERVICES - In a case involving the sourcing of lump sum payments for the performance of services, the New York City Tax Appeals Tribunal took the unusual...more

Hogan Lovells

Tax Cut and Jobs Act Would Change Tax Treatment of False Claims Act Payments

Hogan Lovells on

The House and Senate Conference Committee version of The Tax Cut and Jobs Act, which is expected to become law, contains a proposed amendment to the Internal Revenue Code that would alter the tax treatment of payments made...more

Morrison & Foerster LLP

MoFo New York Tax Insights - Volume 5, Issue 9 - September 2014

In This Issue: - ALJ Upholds Denial of Sales Tax Refund Because Vendor Failed to First Make Refunds to Customers - HMO Held Exempt from New York City General Corporation Tax - State Tax Department Issues...more

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