In Sudden About-Face, Ninth Circuit Withdraws Altera Decision Pending Further Discussions with New Panel Judge

By Kat Gregor & Loretta Richard on August 8, 2018

As previously reported by Ropes & Gray, on July 24, 2018, the Ninth Circuit reversed the Tax Court’s prior decision in the Altera case and upheld the IRS regulation requiring the allocation of stock-based compensation in qualified cost-sharing agreements. The decision was particularly notable since it ended in a 2-1 vote, in which Judge Reinhardt, who passed away in March 2018, cast the deciding vote. Late last week, the Ninth Circuit appointed a new judge,…

Disputing Tax

Ninth Circuit Upholds IRS Regulation on Allocation of Stock-Based Compensation, Reversing the Tax Court

By Kat Gregor & Loretta Richard on August 1, 2018

In an unexpected 2-1 decision, Judge Reinhardt, who passed away in March of this past year, cast the Ninth Circuit’s deciding vote to reverse the Tax Court’s prior ruling in Altera. In 2015, the Tax Court invalidated Treasury Regulation 1.482-7A(d)(2)’s requirement that related parties allocate stock-based compensation costs when entering into cost-sharing agreements to develop intangible assets. The Tax Court’s decision in Altera centered on the IRS’s failure to support the regulation with examples of…

Disputing Tax

The Bell Tolls for Quill’s Physical Presence Standard

By Loretta Richard & Kat Gregor on June 22, 2018

On June 21, 2018, the Supreme Court ruled 5-4 in South Dakota v. Wayfair et al. that the Constitution does not prevent the State of South Dakota from requiring large online retailers without actual physical presence in the state to collect and remit sales tax. The Supreme Court’s decision is based on a South Dakota statute that it viewed as not imposing significant burdens on interstate commerce, because, among other things, it was prospective in…

Disputing Tax

Gabby’s Case of the Quarter-Lender Management LLC v. Commissioner of Internal Revenue

By Gabrielle Hirz, Loretta Richard & Christi Lazo on April 23, 2018

In this Ropes & Gray podcast, Gabby Hirz, counsel in the tax controversy group, is joined by Loretta Richard, a partner in the tax and benefits group and co-founder of the tax controversy group, and Christi Lazo, counsel in the private client group, to discuss another notable Tax Court decision, Lender Management LLC v. Commissioner of Internal Revenue. Lender Management considered whether a family office was operating a trade or business and could therefore…

Disputing Tax

Is Fishing in Tax Waters Getting Easier or Just More High Tech?

By Brian Studniberg, Gabrielle Hirz & Loretta Richard on April 18, 2018

In a recent Tax Notes International article, “Is Fishing in Tax Waters Getting Easier or Just More High Tech?,” Brian Studniberg, Gabby Hirz and Loretta Richard provide commentary on the continued role of international information exchange on request given the availability of automatic information exchange. Click here to read the full article including further insight from the group. …

Disputing Tax

Is Fishing in Tax Waters Getting Easier or Just More High Tech?

By Loretta Richard on April 18, 2018

In a recent Tax Notes International article, “Is Fishing in Tax Waters Getting Easier or Just More High Tech?,” tax & benefits associate Brian Studniberg, former tax controversy counsel Gabby Hirz and tax controversy group co-founder and employee benefits partner Loretta Richard provide commentary on the continued role of international information exchange on request given the availability of automatic information exchange. Click here to read the full article including further insight from the group. …

Disputing Tax

UNDER ATTACK: ERISA Class-Action Lawyers Target Colleges and Universities

By Loretta Richard on January 5, 2017

The Potential Threat Class-action lawyers have set their sights on retirement savings plans offered by colleges and universities, focusing on “jumbo” plans, often with assets of more than $1 billion (though that amount may decline as the pickings become slimmer). These lawsuits are founded in claims of ERISA breaches of fiduciary duty. Colleges and universities need to understand these claims, and know what they need to do to prepare.…

Loretta Richard

In Sudden About-Face, Ninth Circuit Withdraws Altera Decision Pending Further Discussions with New Panel Judge

Ninth Circuit Upholds IRS Regulation on Allocation of Stock-Based Compensation, Reversing the Tax Court

The Bell Tolls for Quill’s Physical Presence Standard

Gabby’s Case of the Quarter-Lender Management LLC v. Commissioner of Internal Revenue

Is Fishing in Tax Waters Getting Easier or Just More High Tech?

Is Fishing in Tax Waters Getting Easier or Just More High Tech?

UNDER ATTACK: ERISA Class-Action Lawyers Target Colleges and Universities

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