US Law Archives - Page 13 of 71

Tax Issues for Same Sex Couples

Wall Street Journal: Same-sex couples can get married in five states and the District of Columbia—and in New York starting July 25. But the happily-ever-after part doesn’t necessarily extend to their personal finances.

Such couples still can’t file a joint federal tax return, share retirement benefits, shield each other’s assets from estate taxes or benefit from many other tax breaks provided through federal law.

As a result, same-sex couples who marry have to stay on guard, doing even more financial and legal planning, in some cases, than those who don’t choose to tie the knot.

Premarital Agreements

Wealth Strategies Journal: A premarital agreement is a contract between two persons who intend to marry that determines their financial rights at the end of the marriage by death or divorce. It seems to be a fairly widespread belief that it is easy to challenge the validity of a premarital agreement in court. In one sense it is easy: A determined opponent will be able to find a lawyer who is willing to go into court and attempt to convince a judge to throw out a premarital agreement. However, it is a myth that these challenges are often successful. In fact, they rarely succeed.

8th Circuit Permits NFL Lockout

ABA Journal: A federal appeals court is allowing the lockout by the National Football League in a ruling that overturns a preliminary injunction.

The St. Louis-based 8th U.S. Circuit Court of Appeals ruled Friday that the injunction could not be granted under the Norris-LaGuardia Act, which restricts the power of courts to issue injunctions in labor disputes.

EPA Funds Groups Who Sue

Hot Air: The EPA gets sued on a regular basis by environmental groups complaining about a lack of enforcement, a process that routinely requires legal settlements and significant taxpayer expense. Investors Business Daily’s report today suggests that taxpayers may be funding more of the process than they know. Among the recipients of grants from the EPA are some of the same groups it faces in courtrooms…

No Right to Pay Taxes

Tax Prof Blog: Guess?, Inc. co-founder Georges Marciano has lost his bid in Washington federal court for an order forcing the IRS to investigate his tax returns and liabilities.

Marciano had argued that the audit could reveal money owed to the government that he believes former employees mishandled. In dismissing the suit on Friday, U.S. District Court Judge Henry Kennedy Jr. noted that the property rights protected under the Fifth Amendment don’t guarantee anyone’s right to pay taxes.