Federal

  • December 02, 2022

    Biden Tells Justices Texas Judge Erred Axing Debt Plan

    The Biden administration on Friday asked the U.S. Supreme Court to stay a Texas federal judge's ruling that struck down his student debt relief plan, arguing that the lower court relied on a claim that wasn't even asserted by the program's challengers.

  • December 02, 2022

    Biden Goes Too Far With Debt Plan, 17 States Tell Justices

    A group of 17 states led by Utah and Ohio asked the U.S. Supreme Court to reject the Biden administration's request to lift the Eighth Circuit's nationwide injunction on his student debt relief plan, saying the president can't use his position to sidestep the law to fulfill a campaign promise.

  • December 02, 2022

    Former Md. Tax Counsel Embraces New Role As Top FTA Atty

    Brian Oliner became general counsel to the Federation of Tax Administrators in September after serving as the longtime counsel to Maryland’s comptroller, where he defended the state in high-profile litigation and was influential in analyzing tax policy. Here, Law360 recaps his Maryland career and previews his approach to his new role.

  • December 02, 2022

    NY County's Home Septic Payments Not Income, IRS Says

    Homeowners who receive payments from Suffolk County, New York, to upgrade their septic systems don't need to include the payments as income when filing taxes with the Internal Revenue Service, the IRS said Friday.

  • December 02, 2022

    Trump 'Explicitly' Approved Tax Fraud, DA Says As Trial Ends

    Manhattan prosecutors on Friday directly accused former President Donald Trump of authorizing tax fraud by his executives in closing arguments of the criminal trial in New York state court against his Trump Organization companies.

  • December 02, 2022

    12 AGs Ask IRS For Prompt Guidance On Tax, Climate Bill

    Twelve attorneys general asked Treasury and the IRS for "prompt, effective and equitable" implementation of the Inflation Reduction Act, recommending that the government make tax credits for electric vehicles immediately available and impose stringent employer documentation requirements for other incentives.

  • December 02, 2022

    Taxation With Representation: Davis Polk, Blakes, Latham

    In this week's Taxation With Representation, Yahoo Inc. will acquire a minority stake in Taboola, HSBC Holdings PLC will sell its Canadian business to Royal Bank of Canada, Corteva Inc. will acquire Stoller, and a Blackstone real estate investment trust plans to sell its stake in MGM Grand Las Vegas and Mandalay Bay Resort.

  • December 02, 2022

    Robocall Schemer's Estate Owes $4.3M In Taxes, US Says

    The wife of a deceased owner of a telemarketing company shuttered for a massive robocall scheme should pay $4.3 million of the company's outstanding employment taxes because she is the presumed executor of her husband's estate, the U.S. government told a Michigan federal court.

  • December 02, 2022

    IRS Says It Wouldn't Consider Stock Retention A Tax Dodge

    A parent corporation's retention of some common stock from a new subsidiary formed during the separation of two businesses wouldn't be considered part of a tax dodge, the Internal Revenue Service said in a private letter ruling released Friday.

  • December 02, 2022

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service released its weekly bulletin, which included a procedure saying certain large corporate taxpayers can file a new form to disclose errors or omissions on their original returns to avoid accuracy-related and understatement penalties.

  • December 02, 2022

    IRS Seeks Comments On Tax Shelter Advice Rules

    The Internal Revenue Service asked for comments Friday on rules governing how tax professionals should approach advising clients about tax shelters.

  • December 01, 2022

    TIGTA Finds No Wrongdoing In IRS Intensive Audit Program

    An Internal Revenue Service watchdog report released Thursday found the agency randomly selected returns for an intensive audit program that came under fire after revelations that former FBI leaders and critics of former President Donald Trump were chosen for it.

  • December 01, 2022

    Court OKs Summonses In Audit Of Couple's Foreign Interests

    The Internal Revenue Service prevailed in a dispute over summonses in an audit of a married couple's compliance with federal reporting requirements for U.S. taxpayers with interests in foreign corporations, according to a court filing.

  • December 01, 2022

    ​​​​​​​Couple Must Pay $466K Despite Criminal Case, Tax Court Says

    A New Jersey couple cannot have their $466,000 tax bill waived simply by claiming a criminal prosecution against them creates economic hardship, the U.S. Tax Court decided Thursday, upholding an IRS notice to seize the couple's assets unless they pay.

  • December 01, 2022

    US Urges 5th Circ. To Hold Firm On Tax Debt Passport Denials

    International travel isn't a fundamental right, the government told the Fifth Circuit on Thursday, urging it to ignore a Texas man's request to reconsider a panel decision that upheld the constitutionality of his passport revocation after he amassed over $400,000 in tax debt.

  • December 01, 2022

    IRS Corrects Premium Tax Credit Eligibility Rules

    The Internal Revenue Service on Thursday corrected a Treasury decision that amended premium tax credit eligibility rules.

  • December 01, 2022

    Chrisleys' Ex-CPA Appeals 3-Year Tax Evasion Prison Term

    The former accountant of Todd and Julie Chrisley of the reality television show "Chrisley Knows Best" is appealing his three-year prison term and $35,000 fine after being convicted of helping the couple avoid paying taxes, according to a notice filed in a Georgia federal court.

  • December 01, 2022

    DA Can Argue Donald Trump Knew Of Tax Fraud, Judge Says

    Manhattan prosecutors won permission from a judge Thursday to argue at the Trump Organization's tax crimes trial that former President Donald Trump knew about the alleged fraud at his company.

  • December 01, 2022

    Accounting Firm To Pay $3M To Avoid Claims In Fraud Scheme

    A Texas accounting firm that did tax and clerical work for a company accused of defrauding Chicago real estate investors has agreed to pay the company's receivership $3 million to head off claims regarding its role in the scheme, according to a motion filed in Illinois federal court. 

  • December 01, 2022

    Philadelphia Attorney Dodged Taxes On $8 Million In Income

    A Philadelphia-based personal injury lawyer has pled guilty to not paying income tax for three straight years, the U.S. Attorney's Office for the Eastern District of Pennsylvania announced, during which he generated more than $8 million in revenue at his one-man firm, according to his indictment.

  • December 01, 2022

    IRS Seeks Feedback On Estate Tax Form

    The Internal Revenue Service asked for comments Thursday on a form for paying taxes when an heir disposes of interest in certain real property or doesn't use it for qualified purposes within 10 years of the relevant death.

  • November 30, 2022

    Md. Lawyer Can't Get Innocent Spouse Relief, Tax Court Says

    A Maryland lawyer cannot be granted innocent spouse relief to avoid paying taxes on $227,000 of unreported income, partly because she should have known her husband was embezzling from a church where he was the finance director, the U.S. Tax Court said Wednesday.

  • November 30, 2022

    Tax Court Says Unreported Income Includes Additional $103K

    A Virginia man must add nearly $103,000 to the unreported business income determined in his notice of deficiency for 2013, the U.S. Tax Court said Wednesday.

  • November 30, 2022

    GAO Asks Congress To Let IRS Set Tax Pro Standards

    Congress should give the Internal Revenue Service the ability to set standards for all paid tax preparers, the U.S. Government Accountability Office said in a report published Wednesday.

  • November 30, 2022

    10th Circ. Denies Man Chance To Appeal Tax, Securities Plea

    A man can't proceed with efforts to undo his sentence for failing to file a tax return and conspiring to commit securities fraud, the Tenth Circuit said Wednesday, finding his guilty plea wasn't involuntary.

Featured Stories

  • Tax Pros Can't Reach IRS Despite 'Line-Jumping' Deterrent

    David van den Berg

    An Internal Revenue Service pilot program meant to thwart use of commercial so-called line-jumping technology to access the agency's priority phone line for practitioners doesn't appear to be clearly improving access, and other steps could be more effective, observers told Law360.

  • Former Md. Tax Counsel Embraces New Role As Top FTA Atty

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    Brian Oliner became general counsel to the Federation of Tax Administrators in September after serving as the longtime counsel to Maryland’s comptroller, where he defended the state in high-profile litigation and was influential in analyzing tax policy. Here, Law360 recaps his Maryland career and previews his approach to his new role.

  • House Dems Race The Clock After Obtaining Trump's Taxes

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    House Democrats are facing a quickly diminishing window of time to figure out what to do — and what can be done — with former President Donald Trump's tax returns after the U.S. Supreme Court last month cleared the way for the Ways and Means Committee to obtain them.

Expert Analysis

  • Clean Hydrogen Developers Should Track Incentives, Risks

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    Clean hydrogen project developers and investors should be aware of new funding opportunities from the U.S. Department of Energy and tax benefits under the Inflation Reduction Act, but must also guard against risks associated with new and evolving technologies, say Pamela Wu and Kirstin Gibbs at Morgan Lewis.

  • IRS Starts Clock On Energy Projects' Labor Rule Exemption

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    A U.S. Department of the Treasury notice published this week started the 60-day clock for clean energy projects seeking to be grandfathered from having to meet new labor requirements to qualify for enhanced tax credits, and uncertainty about how the provisions will apply should be incentive for some investors to begin construction soon, say attorneys at Eversheds Sutherland.

  • Foreign Tax Credit Proposal Is Some Help, But More Is Needed

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    New foreign tax credit regulations proposed by the U.S. Treasury Department provided some measure of relief on cost recovery and royalty withholding, two of the most troublesome aspects of the 2021 final foreign tax credit regulations, but the final regulations are still harmful to many taxpayers, making litigation inevitable, say attorneys at Fenwick.

  • Anticipating The New Congress' Private Sector Investigations

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    With Republicans claiming a new majority in the House of Representatives in the upcoming Congress, corporates and individuals should expect a sea change in Congress' investigative priorities and areas of focus — and private sector entities can take prudential steps in the near term to best prepare for and mitigate risk, say attorneys at Latham.

  • Tax Equity Requires Reinstating The Home Office Deduction

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    Congress should restore the home office deduction for W-2 workers in the interest of tax equity because permanently remote workers now bear the cost of creating quiet, dedicated work spaces, a pandemic-related shift unforeseen when the deduction was eliminated by 2017's Tax Cuts and Jobs Act, say James Mahon and Samantha Lesser at Becker.

  • Keys To IRA Tax Breaks For US Green Energy, EV Production

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    The Inflation Reduction Act includes three powerful tax incentives for domestic production of renewable energy projects and electric vehicles — but there are key questions that investors and manufacturers must ask when evaluating whether they can take advantage of these incentives, say attorneys at Troutman Pepper.

  • Crypto Case Failed To Clarify Taxation Of Staking Rewards

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    A Tennessee federal court's recent dismissal of Jarrett v. U.S. — after the IRS issued a refund for taxes paid on cryptocurrency and mooted a greater question about the tax treatment of staking rewards — leaves the crypto industry in need of guidance on the IRS’ position, say attorneys at Cadwalader.

  • How The IRS May Define 'Clean Hydrogen'

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    The Internal Revenue Service is still taking comments on how to define "clean hydrogen" for purposes of Inflation Reduction Act tax credits, but developers can look to the IRA's legislative history — as well as the European Union's struggle to define "green hydrogen" — as guideposts, says Ben Reiter at Nixon Peabody.

  • What To Expect From The Post-Midterms Lame-Duck Session

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    Depending on the results of the midterm elections, the upcoming lame-duck session may be the last chance for Congress to enact meaningful legislation for the next several years, so organizations must push through legislative priorities now, lest they are forced to restart their efforts in a much different environment next year, says James Brandell at Dykema.

  • IRS' Tax Gap Statistics Don't Paint A Full Compliance Picture

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    The Internal Revenue Service's recent report indicating a widening tax gap sheds important light on tax compliance, underlines key pressure points and provides insights into how tax administration could be improved; but tax gap estimates also have their limits, says Joyce Beebe at Rice University.

  • Labor Rules Will Unlock IRA Tax Credits' Full Value

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    Companies that make sure to follow the Inflation Reduction Act's unique labor rules will be in the best position to unlock the law's tremendous tax incentives aimed at promoting renewable energy, lowering greenhouse gas emissions and encouraging carbon sequestration, say Nicole Elliott and Timothy Taylor at Holland & Knight.

  • Making The Most Of New Tax Credits For EV Charging Stations

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    The Inflation Reduction Act recently extended, expanded and renewed the tax credits available for electric vehicle charging station projects — but developers must navigate new challenges, including geographic and prevailing wage requirements, to take full advantage of the updated credits, says James English at Clark Hill.

  • Key Income Tax Issues Triggered By Remote Employees

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    A host of fact-specific tax determinations arise in connection with remote work arrangements, from defining working-condition fringe benefit exclusions to nexus-dependent state withholding obligations, complicating compliance for corporate tax counsel and human resources professionals, say Thomas Cryan and Spencer Walters at Ivins Phillips.