Federal

  • September 01, 2026

    Investment Co. Disputes IRS' $166M Add-On To Capital Gains

    An investment company accused the IRS of mistakenly inflating its 2008 short-term capital gains from certain securities investments to about $170 million from $4 million, telling the U.S. Tax Court the gains were properly deferred during the Great Recession.

  • September 01, 2026

    Strip Club Boss Wants Only Probation After $1.5M Tax Penalty

    The former boss of a Connecticut strip club who pled guilty to five charges after being accused of hiding $5.7 million from the IRS told a federal court he should serve no prison time since he already coughed up more than $1.5 million in tax.

  • September 01, 2026

    Valid Regs Require Abbott To Pay Tax On $8B Gain, IRS Says

    The IRS urged the U.S. Tax Court to validate regulations that the agency said required Abbott Laboratories to pay taxes on an $8 billion gain stemming from transactions between its foreign affiliates, arguing the pharmaceutical giant is pushing for "an inappropriately rigid" statutory interpretation.

  • September 01, 2026

    NC Bar Defends Discipline Of Former Judge To Top Court

    The North Carolina State Bar's decision to punish a former judge for actions he took while on the bench is not an attack on judicial independence, the bar argued in urging the state's top court not to take up an appeal challenging an order of discipline against him.

  • September 01, 2026

    Temporary Tariffs Exceeded Trump's Power, Fed. Circ. Told

    President Donald Trump illegally based his temporary tariffs on the misapplication of a law allowing the president to address balance-of-payment deficits, two businesses told the Federal Circuit, pushing the court to preserve a U.S. Court of International Trade ruling against the tariffs.

  • August 31, 2026

    Siemens Urges Court Toward Wide View Of 2018 Restructuring

    An attorney for Siemens USA asked the U.S. Tax Court on Monday to consider all elements of the restructuring that followed the company's 2017 acquisition of Mentor Graphics and led to a $3.5 billion deduction the following year.

  • August 31, 2026

    States Ask Fed. Circ. To Revive Their Temporary Tariff Claims

    Two dozen states pushed the Federal Circuit on Monday to revive their specific claims against now-expired temporary tariffs while simultaneously pushing the panel to otherwise back the U.S. Court of International Trade's ruling that the tariffs were illegal.

  • August 31, 2026

    3rd Circ. OKs Ex-Biofuel Execs' Fraud Subsidy Convictions

    The Third Circuit upheld two former biofuels executives' fraud convictions tied to IRS and EPA fuel subsidies, denying them a retrial based on claims that a Pennsylvania lower court improperly refused to provide jurors more information on the agencies' regulations.

  • August 31, 2026

    Investors Can't Escape Danish Tax Fraud Case, 2nd Circ. Says

    Four investors and their pension plans owe $476 million for their role in a tax fraud scheme against the Danish government, the Second Circuit affirmed Monday, rejecting the investors' contention that they are beyond the reach of Danish revenue collectors.

  • August 31, 2026

    Levi Strauss Buyer Seeks Refund After Trump Tariffs Tossed

    Levi Strauss & Co. has yet to provide a way for its customers to get refunds of unlawful tariff-related costs they had to pay for imported goods affected by President Donald Trump's since-invalidated global "tariff regime," alleges a proposed class action filed in Louisiana federal court Friday. 

  • August 31, 2026

    Avalara Investors Suing Over $8.4B Buyout Win Class Cert.

    A Washington federal judge granted class certification to investors in tax software company Avalara in a suit alleging it misled investors ahead of an $8.4 billion deal to take the company private.

  • August 31, 2026

    Canada, France Treaties Don't Ax Investment Tax, Court Says

    U.S. tax treaties with Canada and France don't shield taxpayers from the net investment income tax because the treaties' foreign tax credits are subject to limitations in the Internal Revenue Code, the Court of Appeals for the Federal Circuit said Monday, reversing two decisions.

  • August 31, 2026

    Tax Court Says Trader Didn't Aid In $7.3B IRS Probe

    A U.S. Tax Court judge rejected a former stock trader's claim for a whistleblower award Monday, saying he did not play a significant role in Internal Revenue Service investigations into digital option tax shelters that recovered at least $7.3 billion.

  • August 31, 2026

    Trump Opening 1st Round Of Tariff-Free Ground Beef Tuesday

    The first 100,000 of a total 300,000 metric tons of ground beef that can be imported into the U.S. without an added tariff can enter into the country starting Sept. 1, according to a proclamation published Monday.

  • August 31, 2026

    IRS Enforcement, Audit Revenues Fell In 2025, TIGTA Says

    The Internal Revenue Service brought in $4.9 billion less in revenue in fiscal year 2025 compared to 2024, mostly because of a 35% decline in revenue stemming from examinations, the Treasury Inspector General for Tax Administration said in a report published Monday.

  • August 28, 2026

    Miami Developer Fights New Orleans' Bid To Transfer Ch. 11

    A Miami-based developer is fighting New Orleans' attempt to transfer his company's Chapter 11 proceeding to Louisiana, telling a Florida federal bankruptcy judge that the case should stay put because the case has already been extensively litigated.

  • August 28, 2026

    Groups Urge 5th Circ. To Review Churches' Political Activity

    Federal courts can review the IRS' proposed settlement to allow churches to engage in political activities without losing their tax-exempt status, religious liberty groups told the Fifth Circuit, asking the appeals court to revive a case that was dismissed for lack of jurisdiction.

  • August 28, 2026

    Medical Marijuana Industry Grapples With DEA's New Role

    After years of allowing the state-sanctioned medical marijuana industry to operate without interference, the U.S. Drug Enforcement Administration is stepping in to regulate a drug it once treated exclusively as contraband, but attorneys and regulators say the cannabis industry's interactions with the agency are off to a rocky start.

  • August 28, 2026

    Trump Denied New Bid To Federalize Hush Money Prosecution

    A New York federal judge on Friday again denied President Donald Trump's bid to move his criminal hush money conviction out of state court, finding as he did earlier that a federal law defense that Trump was operating in his official capacity would be meritless.

  • August 28, 2026

    IRS Corrects Proposed Regs On Foreign Tax Rules

    The Internal Revenue Service issued a notice Friday to correct several aspects of proposed regulations issued this month that relate to allocating foreign taxes following the repeal of a deferral election and the disallowance of foreign tax credits on certain distributions of previously taxed earnings.

  • August 28, 2026

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's weekly bulletin, released Friday, included a safe harbor for the carbon sequestration tax credit's reporting requirements that will apply to a method that uses carbon oxide used as a tertiary injectant in qualified oil and gas extraction projects.

  • August 28, 2026

    Siemens To Defend Restructuring, $3.5B Deduction At Trial

    A U.S. subsidiary of German conglomerate Siemens is preparing to defend a $3.5 billion deduction stemming from transactions that the company said were needed to integrate a 2017 acquisition into its software business unit when its U.S. Tax Court trial begins Monday.

  • August 27, 2026

    Grocers' Microcaptive Valid For Tax Benefits, 7th Circ. Told

    Chicagoland grocery chain owners' in-house insurance arrangement is a valid insurance transaction "and should be respected as such," they told the Seventh Circuit, saying their business should be allowed to claim microcaptive tax benefits to reduce its taxable income.

  • August 27, 2026

    Couple Did Not Back Up Business Deductions, Tax Court Says

    An Idaho couple with several businesses, including an accounting company, rental properties and horse breeding, failed to properly substantiate their deduction claims for related expenses such as travel, meals and entertainment, a U.S. Tax Court judge ruled Thursday.

  • August 27, 2026

    Tax Court Won't Add Docs In Whistleblower Award Row

    A self-proclaimed whistleblower cannot expand the administrative record in his fight for an award denied by the Internal Revenue Service because he hasn't shown the additions he proposed are necessary, the U.S. Tax Court said Thursday.

Expert Analysis

  • Horizontal Stare Decisis Should Not Be Casually Discarded

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    Eliminating the so-called law of the circuit doctrine — as recently proposed by a Fifth Circuit judge, echoing Justice Neil Gorsuch’s concurrence in Loper Bright — would undermine public confidence in the judiciary’s independence and create costly uncertainty for litigants, says Lawrence Bluestone at Genova Burns.

  • 10 Commandments For Agentic AI Tools In The Legal Industry

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    Though agentic artificial intelligence has demonstrated significant promise for optimizing legal work, it presents numerous risks, so specific ethical obligations should be built into the knowledge base of every agentic AI tool used in the legal industry, says Steven Cordero at Akerman LLP.

  • A Close Look At The Evolving Interval Fund Space

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    Interval funds — closed-end registered investment companies that make periodic repurchase offers — have recently moved to the center of the conversation about retail access to private markets, spurred along by President Donald Trump's August executive order incorporating alternative assets into 401(k) plans and target date strategies, say attorneys at Simpson Thacher.

  • The Law Firm Merger Diaries: How To Build On Cultural Fit

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    Law firm mergers should start with people, then move to strategy: A two-level screening that puts finding a cultural fit at the pinnacle of the process can unearth shared values that are instrumental to deciding to move forward with a combination, says Matthew Madsen at Harrison.

  • Rare Tariff Authority May Boost US Battery Manufacturing

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    Finalizing preliminary tariffs on active anode material from China — the result of a rare exercise of statutory authority finding that foreign dumping hampered the development of a nascent U.S. industry — should help domestic battery manufacturing, but potential price increases could discourage related clean-energy use, say attorneys at MoloLamken.

  • Considerations When Invoking The Common-Interest Privilege

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    To successfully leverage the common-interest doctrine in a multiparty transaction or complex litigation, practitioners should be able to demonstrate that the parties intended for it to apply, that an underlying privilege like attorney-client has attached, and guard against disclosures that could waive privilege and defeat its purpose, say attorneys at DLA Piper.

  • The Law Firm Merger Diaries: Making The Case To Combine

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    When making the decision to merge, law firm leaders must factor in strategic alignment, cultural compatibility and leadership commitment in order to build a compelling case for combining firms to achieve shared goals and long-term success, says Kevin McLaughlin at UB Greensfelder.

  • What To Watch As NY LLC Transparency Act Is Stuck In Limbo

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    Just about a month before it's set to take effect, the status of the New York LLC Transparency Act remains murky because of a pending amendment and the lack of recent regulatory attention in New York, but business owners should at least prepare for the possibility of having to comply, says Jonathan Wilson at Buchalter.

  • Despite Deputy AG Remarks, DOJ Can't Sideline DC Bar

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    Deputy Attorney General Todd Blanche’s recent suggestion that the D.C. Bar would be prevented from reviewing misconduct complaints about U.S. Department of Justice attorneys runs contrary to federal statutes, local rules and decades of case law, and sends the troubling message that federal prosecutors are subject to different rules, say attorneys at HWG.

  • 8th Circ. Decision Shipwrecks IRS On Shoals Of Loper Bright

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    The Eighth Circuit’s recent decision invalidating transfer pricing regulations in 3M Co. v. Commissioner may be the most significant tax case implementing Loper Bright's rejection of agency deference as a judicial tool in statutory construction, says Edward Froelich at McDermott.

  • Rule Amendments Pave Path For A Privilege Claim 'Offensive'

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    Litigators should consider leveraging forthcoming amendments to the Federal Rules of Civil Procedure, which will require early negotiations of privilege-related discovery claims, by taking an offensive posture toward privilege logs at the outset of discovery, says David Ben-Meir at Ben-Meir Law.

  • Litigation Funding Could Create Ethics Issues For Attorneys

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    A litigation investor’s recent complaint claiming a New York mass torts lawyer effectively ran a Ponzi scheme illustrates how litigation funding arrangements can subject attorneys to legal ethics dilemmas and potential liability, so engagement letters must have very clear terms, says Matthew Feinberg at Goldberg Segalla.

  • SEC's Dual Share Class Approval Signals New Era For ETFs

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    The U.S. Securities and Exchange Commission's recent approval of the dual share class structure marks a landmark moment for the U.S. fund industry, opening the door for asset managers to benefit from combining mutual fund and exchange-traded fund share classes under a single portfolio, say Ilan Guedj at Bates White and Brian Henderson at George Washington University.

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