Federal
-
September 28, 2026
Insurance Broker Loses Bid To Undo $6.6M IRS Penalty
A Pennsylvania federal judge rejected an insurance broker's second attempt at challenging a $6.6 million tax penalty imposed by the Internal Revenue Service, ruling Monday that the penalty doesn't violate the company's Seventh Amendment rights.
-
September 28, 2026
3 Takeaways From Siemens' Trial Over $3.5B Tax Deduction
Internal conflict at the IRS over a penalty, the recent court victory for another Siemens entity and the company's detailed tax planning are key factors the U.S. Tax Court will have to consider in deciding Siemens USA's case over a $3.5 billion deduction claimed for 2018.
-
September 28, 2026
IRS Warns New ETF Strategies Could Be Abusive
New strategies using exchange-traded funds may be abusing the tax benefits of these legitimate investment vehicles holding various securities, the IRS said Monday, asking for public feedback on future enforcement that can avoid putting long-established tax planning practices at high risk.
-
September 28, 2026
IRS Should Improve AI Risk Management, TIGTA Recommends
The Internal Revenue Service should bolster its risk management practices when using artificial intelligence, the Treasury Inspector General for Tax Administration said in a report released Monday.
-
September 28, 2026
IRS May Have Shirked Fair Collection Process, TIGTA Says
Some Internal Revenue Service employees may not have adhered to fair practices when attempting to collect taxes, the Treasury Inspector General for Tax Administration said in a report released Monday assessing potential violations in 2024 and 2025.
-
September 28, 2026
US, China Reach Deal On Tariff Cuts On $30B In Goods Each
An intergovernmental body tasked with managing trade between the U.S. and China has reached an agreement on $30 billion worth of nonsensitive goods exported from one country to the other that could benefit from more favorable tariff treatment.
-
September 28, 2026
'Survivor' Winner Asks 1st Circ. To Vacate $3.3M Tax Ruling
The First Circuit should vacate a Rhode Island federal court's $3.3 million tax judgment against the first "Survivor" winner, he told the appeals court, saying a senior U.S. district judge improperly refused to review an objection he filed challenging his tax debt.
-
September 28, 2026
High Court Ruling Requires FBAR Case Redo, 5th Circ. Told
The U.S. government asked the Fifth Circuit to vacate and remand a Texas federal court's decision that struck down the IRS' $1 million penalty assessment over a woman's undisclosed foreign bank accounts, saying that a June U.S. Supreme Court decision conflicts with the trial court's ruling.
-
September 28, 2026
Wyden Bill Would Double Retirement Savings Match
Lower-income taxpayers who contribute to their retirement savings would receive an annual federal contribution of up to $2,000 under legislation introduced Monday by the top Democrat on the Senate Finance Committee.
-
September 28, 2026
IRS Proposes Rules For Tax Payments On Farm Sale's Gain
The IRS formally proposed regulations governing sellers' interest-free installment tax payments on gains from the sale or exchange of their U.S. farmland to eligible farmers, provided the property was used for farming throughout the 10 years preceding the transaction.
-
September 25, 2026
IRS Can't Redo Transactions For Music Production Co.
The Internal Revenue Service's recharacterization of transactions between a music production company and its owners makes no economic sense, the U.S. Tax Court said Friday, rejecting the agency's argument that $6 million of loans to a pass-through entity was actually a dividend to the owners.
-
September 25, 2026
US To Appeal Calif. Wind Farm's $49.4M In Cash Grants
The federal government will appeal the U.S. Court of Federal Claims' July approval of $49.4 million in additional renewable energy cash grants to the country's second-largest wind farm, which has been embroiled in a decade-old dispute over the funds, according to a filing Friday.
-
September 25, 2026
Judge Moves Sen. Scott's Tax Info Leak Case To DC Court
A Florida federal court transferred U.S. Sen. Rick Scott's suit against a former employee of federal contractor Booz Allen Hamilton Inc. for leaking his personal tax returns to D.C. federal court Friday, saying the employee's conduct didn't happen in Florida.
-
September 25, 2026
Security Deficiencies Persist At IRS Sites, Watchdog Says
Some Internal Revenue Service employees continued to access the agency's facilities despite being on administrative leave, the Treasury Inspector General for Tax Administration said in a report released Friday evaluating security and authentication procedures at IRS sites.
-
September 25, 2026
IRS Can't Nix Refund From Unauthorized Return
The Internal Revenue Service isn't entitled to recover a refund related to a fuel tax credit claimed on a return that a tax preparer filed for an Indiana man without his authorization, the U.S. Tax Court said in a bench opinion released Friday.
-
September 25, 2026
Charity Founder Can't Withdraw Fraud, Tax Evasion Plea
A New York federal judge denied a charity founder's request to withdraw his guilty plea to wire fraud and tax evasion involving his organization, finding he failed to establish sufficient grounds to argue his innocence.
-
September 25, 2026
Tax Court Upholds Couple's Fire Loss Deduction Penalty
An Indiana couple's misunderstanding of how to claim insurance payments they received after their home was damaged in a fire doesn't preclude them from being hit with an underreporting penalty, the U.S. Tax Court ruled Friday.
-
September 25, 2026
Gov't Loses Up To $304B To Tax Fraud Annually, GAO Says
About $116 billion to $304 billion of the federal government's revenue is lost to tax fraud annually, the U.S. Government Accountability Office reported Friday, recommending that the Internal Revenue Service develop an agencywide antifraud strategy.
-
September 25, 2026
IRS Compliance Takes Up $387B Worth Of Time, Group Says
Americans are estimated to spend almost 6.9 billion hours complying with Internal Revenue Service filing and reporting requirements in 2026, representing roughly $387 billion in potential lost productivity to the U.S. economy, the Tax Foundation said in a report released Friday.
-
September 25, 2026
Taxation With Representation: Kirkland, Latham, McDermott
In this week's Taxation With Representation, Royal Caribbean invests billions in a joint venture with Sandals, Telix Pharmaceuticals buys ITM Isotope Technologies Munich, and Priority Technology makes a go-private deal with an investor group helmed by the company's chair and CEO.
-
September 25, 2026
Duane Morris To Settle Employee's Tax Withholding Claim
Duane Morris LLP has agreed to private mediation to settle a proposed class action by an employee who alleged that the firm failed to withhold taxes for workers who were misclassified as partners, according to a notice.
-
September 25, 2026
Weekly Internal Revenue Bulletin
The Internal Revenue Service's weekly bulletin, released Friday, consisted of just one item, proposed rules that would clarify the 2025 federal budget bill's reduction to the range of expenses that companies must allocate to overseas affiliates when calculating foreign tax credits.
-
September 24, 2026
DC Circ. Questions Panhandle's Claim To Excess Tax Funds
A D.C. Circuit judge questioned whether Panhandle Eastern Pipe Line should be allowed to pocket excess sums collected under its income tax allowance from prior years that were placed in a separate account for accumulated deferred income taxes.
-
September 24, 2026
Tax Court Tosses Challenge Of Charitable Deductions Denial
The U.S. Tax Court dismissed an Illinois woman's bid to challenge the Internal Revenue Service's denial of her claimed charitable contribution deductions and the imposition of penalties, saying Thursday it lacks jurisdiction in the case because she failed to timely file a petition.
-
September 24, 2026
Senate Panel Advances IRS Chief Counsel, Tax Court Picks
President Donald Trump's picks for Internal Revenue Service chief counsel and a U.S. Tax Court judgeship were approved by the Senate Finance Committee on Thursday, clearing the path for a full Senate vote.
Expert Analysis
-
7 Steps For Gov't Contractors In Post-IEEPA Tariff Landscape
In response to U.S. Supreme Court's recent decision to strike down tariffs issued by the Trump administration under the International Emergency Economic Powers Act, there are several actions federal contractors should take to preserve their place in any refund waterfall, and to manage audit, overpayment and False Claims Act risk, say attorneys at Holland & Knight.
-
The Benefits Of Choosing A Niche Practice In The AI Age
As artificial intelligence becomes increasingly accessible, lawyers with a niche practice may stand out as clients seek specialized judgment that automation cannot replicate, but it is important to choose a niche that is durable, engaging and a good personal fit, says Daniel Borneman at Lowenstein Sandler.
-
Section 122 Tariffs Show Shift In Strategy, Not Trade Policy
By imposing temporary tariffs under Section 122 of the Trade Act as a stopgap measure while it pivots to less transitory statutory authorities, the Trump administration sent a clear message that the U.S. Supreme Court’s decision in Learning Resources v. Trump, invalidating duties imposed under the International Emergency Economic Powers Act, will not precipitate a change in policy direction, say attorneys at Snell & Wilmer.
-
Tax Court Ruling Signals Cross-Border Loan Scrutiny
The U.S. Tax Court’s recent decision in Aventis v. Commissioner compounds ongoing regulatory focus on debt originations and should prompt practitioners to assess their existing cross-border lending structures for potential exposure to U.S. federal income tax, say attorneys at Eversheds.
-
Lessons From Justices' Split On Major Questions Doctrine
The justices' varied opinions in Learning Resources v. Trump, which held the International Emergency Economy Powers Act did not confer the power to impose tariffs, offer a meaningful window into the U.S. Supreme Court's perspective on the major questions doctrine that will likely shape lower courts' approach to executive action challenges, say attorneys at Venable.
-
Resilience Planning As Nat'l Security Shifts Tech Import Policy
In response to a sustained reorientation of U.S. trade policy around national security considerations, businesses reliant on processed critical minerals must closely monitor diplomatic negotiations and the potential expansion of trade measures, incorporating contingency planning into procurement and long-term investment strategies, says attorney Sohan Dasgupta.
-
How The New Tariff Landscape May Unfold
To replace tariffs formerly imposed under the International Emergency Economic Powers Act, the administration will rely on a patchwork of statutes, potentially leading to procedural challenges and a complex tariff landscape with varying levels, durations and applicability, says Joseph Grossman-Trawick at King & Spalding.
-
What Orgs. Should Note In IRS Group Tax Exemption Overhaul
In a significant update, the IRS Revenue Procedure 2026-8 shows that the group exemption program is moving into a new regulatory era involving more uniformity, oversight and compliance obligations, and early action is key to preserve group exemption status and avoid disruption for subordinate organizations, says Ravi Sundara at Spencer Fane.
-
How Banks Can Apply FinCEN Beneficial Ownership Relief
A recent Financial Crimes Enforcement Unit order limiting the circumstances under which banks should identify and verify beneficial owners may allow banks to tailor their approach to verification compliance, but only after reviewing customer due diligence policies and evaluating alignment with their risk profiles, say attorneys at Cleary.
-
Parsing Clarifications On Foreign Entity Rules For Tax Credits
Recent U.S. Internal Revenue Service and Treasury Department guidance answers taxpayer questions on several key foreign entity rules under the One Big Beautiful Bill Act, but questions remain over transactions with companies that have ties to covered nations such as Iran, say attorneys at Cleary.
-
Aligning Microsoft Tools With NYC Bar AI Recording Guidance
The New York City Bar Association’s recently issued formal opinion, providing ethical guidance on artificial intelligence-assisted recording, transcription and summarization, raises immediate questions about data governance and e-discovery for companies that use Microsoft 365 and Copilot, say Staci Kaliner, Martin Tully and John Collins at Redgrave.
-
Preferred Equity Monetizations Unlock Energy Tax Credits
As private capital funds more energy and infrastructure projects, preferred equity monetization structures — combining elements of tax credit transfers and tax equity partnership-flip transactions with hybrid capital structures — can help project sponsors monetize federal tax credits, access private capital markets and gain structuring flexibility, say attorneys at Willkie.
-
5 Different AI Systems Raise Distinct Privilege Issues
A New York federal court’s recent U.S. v. Heppner decision, holding that a defendant’s use of Claude was not privileged, only addressed one narrow artificial intelligence system, but lawyers must recognize that the spectrum of AI tools raises different confidentiality and privilege questions, says Heidi Nadel at HP.