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Monthly Archive:: July 2021

Will there be Unintended Consequences from the Supreme Court Decision in eBay v. MercExchange?

TweetShareSharePin0 SharesAlthough receiving most publicity as a possible step in the path of patent reform, the eBay v. MercExchange case may have altered the landscape in obtaining permanent injunctions generally, and thus may have unintended and unforeseen consequences in other areas of the law. From the unanimous opinion (Thomas, J.) in eBay v. MercExchange, 126

2021 State Income Tax Cuts

TweetShareSharePin0 Shares Trend: States Reform Income Taxes To Provide Relief And Remain Competitive Key Findings As states close their books for fiscal year 2021, many have much more revenue on hand than they anticipated last year. In 2021, 11 states have enacted laws to reduce their income tax rates, with 10 reducing individual income tax

Wealth Inequality Estimates Likely Overstated, New Research Suggests

TweetShareSharePin0 Shares Some of President Biden’s tax proposals, such as taxing unrealized capital gains at death, are specifically aimed at reducing wealth inequality. Indeed, it is commonly asserted that wealth inequality is too high and rapidly growing over time. However, new research from Federal Reserve Bank of Boston economists suggests wealth inequality has grown less

Incarcerated Individual Subject to Delinquency Penalties Even Though Attorney Embezzled Funds and Failed To File His Tax Returns

TweetShareSharePin0 Shares We have often discussed the reach of the 1985 Supreme Court case United States v. Boyle. Section 6651(a)(1) and (2) impose delinquency penalties for failing to file a tax return or pay a tax unless the taxpayer can establish that the failure was due to reasonable cause and not willful neglect.  Boyle essentially stands for

Thin-Cap Rules in Europe, 2021

TweetShareSharePin0 Shares Thin capitalization occurs when companies finance investments and operations through a level of debt far higher than their level of equity. High-tax countries create an incentive for companies to finance investments with debt because interest payments are tax-deductible, while the costs associated with equity financing are most often not. Some multinational corporations take
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