Personal Taxation

New nonequity partners are sometimes stuck paying more health and tax costs

Take-home pay is only slightly higher for some newly promoted nonequity partners because their law firms treat them as equity partners for tax purposes.

Nov 12, 2024 3:40 PM CST

Ex-BigLaw partner hit with prison time, $4.2M restitution order in tax case

A former partner at Husch Blackwell and Dykema Gossett has been sentenced to 16 months in federal prison after pleading guilty to two misdemeanors for failing to pay $2.46 million in taxes.

Oct 18, 2024 9:35 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

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

BigLaw partner agrees to pay more than $7.2M to settle allegations of unpaid taxes

A Williams & Connolly partner has agreed to pay more than $7.2 million to settle the federal government’s civil suit for unpaid federal income taxes. Lawyer Robert Shaughnessy and Susan Shaughnessy, identified as a person living in his home, agreed to pay that amount in a joint motion for consent…

Apr 18, 2023 10:45 AM CDT

Is the proposed wealth tax constitutional? Answer depends on ‘direct tax’ definition

A tax on unrealized investment gains of very wealthy people could lead to constitutional challenges that end up before a skeptical U.S. Supreme Court.

Oct 27, 2021 11:46 AM CDT

In suit with implications for law firms, US is accused of raising bar on PPP loan forgiveness

A lawsuit filed Tuesday alleges that the U.S. Small Business Administration appears to be making it more difficult for companies to gain forgiveness of paycheck protection loans intended to help businesses survive during the COVID-19 pandemic.

Dec 10, 2020 10:59 AM CST

Federal judge’s son killed, her lawyer husband wounded in shooting at their home

A gunman dressed as a FedEx driver killed the son of U.S. District Judge Esther Salas of the District of New Jersey and wounded her lawyer husband Sunday evening.

Jul 20, 2020 9:35 AM CDT

Lawyer pleads guilty to tax charge for allegedly paying personal expenses through law firm account

A lawyer in Cornelius, North Carolina, pleaded guilty Friday to one count of filing a false tax return based on allegations that he used his law firm account to pay personal expenses that included a condo mortgage and luxury cars.

Nov 12, 2019 10:51 AM CST

Afternoon Briefs: Judge died from fentanyl and heroin; $117M pelvic mesh settlement announced

Johnson & Johnson and subsidiary to pay $117M settlement in multistate pelvic mesh case Johnson & Johnson and its subsidiary Ethicon have agreed to pay nearly $117 million to settle claims over alleged deceptive marketing for transvaginal surgical mesh devices. Forty-one states and Washington, D.C., will share in the settlement.…

Oct 18, 2019 4:11 PM CDT

Afternoon Briefs: Missing ex-lawyer is arrested at thrift store; DC considers banning gay-panic defense

Disbarred lawyer-on-the-lam is arrested at thrift store A disbarred lawyer who is accused of murdering his mother was arrested at a Nashville, Tennessee, thrift store Monday. U.S. marshals arrested Richard Vinson Merritt about eight months after he failed to report to prison for defrauding clients out of their settlement checks.…

Oct 1, 2019 4:09 PM CDT

New nonequity partners are sometimes stuck paying more health and tax costs

Ex-BigLaw partner hit with prison time, $4.2M restitution order in tax case

Targeting white-collar crime, DOJ seeks more whistleblowers

Supreme Court upholds Trump tax provision on offshore earnings

Nina Olson has devoted her career to protecting taxpayer rights

BigLaw partner agrees to pay more than $7.2M to settle allegations of unpaid taxes

Is the proposed wealth tax constitutional? Answer depends on ‘direct tax’ definition

In suit with implications for law firms, US is accused of raising bar on PPP loan forgiveness

Federal judge’s son killed, her lawyer husband wounded in shooting at their home

Lawyer pleads guilty to tax charge for allegedly paying personal expenses through law firm account

Afternoon Briefs: Judge died from fentanyl and heroin; $117M pelvic mesh settlement announced

Afternoon Briefs: Missing ex-lawyer is arrested at thrift store; DC considers banning gay-panic defense

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