Lawyers to face music for illegal practices

Australia’s tax collector has announced a crackdown on lawyers who misuse legal privileges to protect their clients. In a post on its website, the Australian Taxation Office said it was preparing to launch a “range of (legal) cases in the short to medium term” against offending lawyers who would face a maximum penalty of 10 years imprisonment. Under Australian law, courts and law enforcement agencies cannot compel legal practitioners to disclose communications with their clients. However, the ATO alleges that lawyers are using the power to shield their clients from convictions for tax evasion, protecting thousands of documents sought by the agency. US small business optimism in January fell to the lowest level in more than two years amid uncertainty about future economic growth, the National Federation of Independent Business said on Tuesday. The index of small business optimism slipped 3.2 points to 101.2 last month, the lowest since November 2016, the NFIB said, adding small business owners expressed concerns about future sales growth and business conditions later in the year.