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- Tax Court Rules for Boston Bruins in Case Involving Deductibility of Meal Costs
Tax Court Rules for Boston Bruins in Case Involving Deductibility of Meal Costs
June 29, 2017, Covington Alert
In a case that could have wide-ranging effect across the sports industry and potentially beyond, the U.S. Tax Court ruled on June 26, 2017, that the Boston Bruins were allowed to deduct 100 percent of the costs of meals that they served to their players and other employees at hotels while traveling for road games. The IRS had argued that only 50 percent of those costs were deductible. Covington represented the Bruins and their owners, Jeremy and Margaret Jacobs, both in front of the IRS and in the Tax Court.
August 14, 2018, Covington Alert
New restrictions on the deductibility of certain payments will require companies facing government investigations to pay close attention to the tax treatment of any settlement or court judgment, and to address this treatment in their negotiations with regulatory agencies. There is a risk under new tax rules that the amount paid to resolve these disputes may be ...
Four Covington Partners Named Law360 MVPs
December 20, 2017
WASHINGTON—Law360 has named four Covington partners as MVPs in their respective practice areas. The awards single out lawyers from across numerous practice areas based on their success in high-stakes litigation, complex global matters, and record-breaking deals. The Covington lawyers recognized as Law360 MVPs are: Ray Biagini, Government Contracts. Mr. ...
Covington Advises NFL in its Eight-Year Extension of Monday Night Football Rights with ESPN
September 9, 2011
WASHINGTON, DC, September 9, 2011 — The National Football League has announced that it has entered into a new eight-year agreement with ESPN providing for Monday Night Football, the most successful series in sports media history, to remain on ESPN through the 2021 NFL season. The broad multiplatform agreement, which begins in 2014, includes eight full seasons of ...