Federal

  • November 23, 2022

    DOJ Obtains Guilty Plea In $7.9M Immigration Scheme

    A former resident of Key West, Florida, pled guilty to his role in a conspiracy that provided immigrant labor to hospitality businesses in southern Florida and cheated the IRS out of nearly $8 million, according to federal prosecutors.

  • November 23, 2022

    Corp. Tax Transparency Rules Could Paint Muddy Picture

    As public tax reporting policies in Australia and the European Union reflect momentum toward corporate transparency without global standards, a growing patchwork of disclosure regimes may ultimately yield skewed information for shareholders while causing compliance headaches for companies.

  • November 23, 2022

    IRS' Attempts To Ease Partnership Reporting May Fall Short

    The exception the IRS is preparing for domestic partnerships and other pass-through entities facing broad reporting requirements — something it plans to accomplish through tax schedules for businesses with foreign interests — likely won't be helpful for many taxpayers, practitioners say.

  • November 23, 2022

    Mayo Clinic Ruled Entitled To $11.5M Tax Refund

    The Mayo Clinic is entitled to an $11.5 million refund of unrelated business income tax, a Minnesota federal court ruled, finding the organization serves an educational purpose that exempts it from the tax.

  • November 23, 2022

    House Panel Urges Court To Drop Trump's NY Tax Return Suit

    A House committee told a D.C. federal court that it should dismiss a suit from former President Donald Trump challenging New York's law allowing the release of his state tax returns, which the court previously ruled should be preceded by notice to Trump.

  • November 23, 2022

    Tech Tax Pros Ask Justices For Broad Privilege Ruling

    A group of Silicon Valley tax practitioners urged the U.S. Supreme Court to adopt a broad application of attorney-client privilege in a case involving a law firm's efforts to shield dual-purpose communications involving tax advice from subpoenas.

  • November 23, 2022

    Sale Of Clean Energy Credits Could Trigger Corp. AMT

    Democrats' landmark climate law passed this summer will allow companies for the first time to sell tax credits earned from their renewable energy development projects, but the sales risk triggering the new corporate levy on book earnings that was included in the same law.

  • November 23, 2022

    Adviser Asks Ala. Court For Broad Relief From IRS Notice

    A company that advises partnerships on donating conservation easements asked an Alabama federal court for districtwide relief from a requirement that the donations be disclosed to the Internal Revenue Service, saying it would be "unworkable" to free the company but not its clients from regulation.

  • November 22, 2022

    Biden Lengthens Student Loan Pause Amid Court Challenge

    President Joe Biden's administration on Tuesday extended the pause on student loan repayments while federal courts mull its plan to forgive student loan debt, according to an announcement from the U.S. Department of Education.

  • November 22, 2022

    Trump Org.'s CPA Says He Didn't Know About CFO's Fraud

    The Trump Organization called its longtime accountant as its first and only fact witness on Monday and Tuesday, seemingly defending itself against tax fraud charges by indicating its ex-CFO's admitted tax fraud was kept secret from everyone, including its longtime CPA at Mazars LLP.

  • November 22, 2022

    Peanut Trailers Taxable As Highway Vehicles, Gov't Tells Court

    A Georgia company owes the federal heavy truck and trailer excise tax on its sale of peanut-drying semitrailers, the U.S. government told a federal court, arguing that the trailers constitute taxable highway vehicles rather than the "mobile farm machinery" that the business has called them.

  • November 22, 2022

    2nd Circ. Says IRS Freeze Didn't Violate Bankruptcy Code

    The Second Circuit ruled that the IRS didn't violate an automatic stay requirement in a bankruptcy case of a Connecticut man who died in January when it froze his tax refund, saying he did not "meaningfully challenge" the lower court's granting of summary judgment in favor of the government.

  • November 22, 2022

    4th Circ. Backs Man's $16K Tax Bill For Unreported Income

    The U.S. Tax Court correctly decided that a South Carolina man owes the government nearly $16,000 to cover an income tax deficiency and penalties issued for inaccuracy and a frivolous legal position, the Fourth Circuit said Tuesday.

  • November 22, 2022

    Judge Ends Confinement For Founder Of Tax Cheat Group

    The founder of an organization that helped thousands of people cheat on their taxes — and counted convicted actor Wesley Snipes among its members — was released early from home confinement Tuesday by a federal judge who said he was no longer a threat to society.

  • November 22, 2022

    Tax Court Suspends Practitioner After State Suspension

    The U.S. Tax Court suspended a tax practitioner from practice before the court after he was suspended by a state bar.

  • November 22, 2022

    Fox Rothschild Adds Tax And Wealth Partner In Seattle

    Fox Rothschild LLP added a partner from Foster Garvey PC to its taxation and wealth planning department who will be based out of the firm's Seattle office.

  • November 22, 2022

    IRS Seeks Input On Departing Alien Tax Statement

    The Internal Revenue Service on Tuesday asked for comments on a form used to confirm that aliens departing the country have satisfied all American income tax requirements.

  • November 22, 2022

    Couple Appeal Bid To Clarify Taxation Of Crypto Staking

    A couple who created a unique form of cryptocurrency and lost their bid to clarify whether generating tokens through so-called staking creates taxable income plan to appeal to the Sixth Circuit, according to a notice they filed in a Tennessee federal court.

  • November 22, 2022

    Trump Bid To Toss AG Suit Rehashes Failed Args, Judge Says

    A New York state judge on Tuesday slammed Donald Trump's motion to dismiss the attorney general's $250 million fraud lawsuit as "deja vu all over again," asking defense attorneys for the ex-president and his companies why he should consider the same arguments he's already rejected.

  • November 21, 2022

    Manhattan DA Rests In Trump Organization Tax Fraud Case

    The Manhattan District Attorney's Office rested its tax fraud case against the Trump Organization Monday in New York state court after calling just five witnesses over eight days, building its case on testimony by two finance officers and a parade of tax documents.

  • November 21, 2022

    Judge Rightly Revised MoneyGram Report, Del. Tells Justices

    A U.S. Supreme Court-appointed special master was correct in changing his mind to reach a conclusion partially favoring Delaware in a dispute over abandoned MoneyGram checks, the state said in a brief that asked the justices to heed the revised opinion.

  • November 21, 2022

    Chrisleys Sentenced To Prison In $36M Bank Fraud Case

    Todd and Julie Chrisley of the reality television show "Chrisley Knows Best" were sentenced Monday evening by a federal judge in Atlanta to 12 and seven years in prison, respectively, and ordered to pay $17.2 million in restitution in relation to a $36 million bank fraud scheme and tax evasion.

  • November 21, 2022

    Calif. Federal Court Closes Summons In French Tax Probe

    A California federal court closed a summons Monday that U.S. officials had filed against an accountant to compel disclosure of financial documents about a French company under investigation in connection with tax fraud.

  • November 21, 2022

    DC Court Asked To Hold Opinion Due To Transition Tax Appeal

    An expatriate attorney asked a D.C. federal court to refrain from issuing an opinion on its dismissal of a suit accusing the Internal Revenue Service of improperly disclosing his tax information until a related appeal by him is decided.

  • November 21, 2022

    Man Owes Tax On Retaliation Settlement, Tax Court Says

    A former higher education employee has to pay tax on a nearly $231,000 settlement he received for claims that his employer retaliated against him after claiming the institution misused funds, the U.S. Tax Court said Monday.

Featured Stories

  • Corp. Tax Transparency Rules Could Paint Muddy Picture

    Natalie Olivo

    As public tax reporting policies in Australia and the European Union reflect momentum toward corporate transparency without global standards, a growing patchwork of disclosure regimes may ultimately yield skewed information for shareholders while causing compliance headaches for companies.

  • Sale Of Clean Energy Credits Could Trigger Corp. AMT

    Kat Lucero

    Democrats' landmark climate law passed this summer will allow companies for the first time to sell tax credits earned from their renewable energy development projects, but the sales risk triggering the new corporate levy on book earnings that was included in the same law.

  • The Tax Angle: New Ways And Means Members, House Rules

    Stephen K. Cooper

    From a look at possible changes to the House Ways and Means Committee's membership to the GOP's new rules for House legislation, here's a peek into a reporter's notebook on a few of the week's developing tax stories.

Expert Analysis

  • 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.

  • An Evaluation Of New Solar Energy Opportunities For REITs

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    The Inflation Reduction Act's changes to investment tax credit rules will make it possible for real estate investment trusts to own solar facilities and also benefit economically from tax credits, but certain limitations remain, say attorneys at Mayer Brown.

  • Cases Show Real-World Laws Likely Apply In Metaverse

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    Although much has been written about the so-called unprecedented legal issues raised by the metaverse, recent federal cases demonstrate that companies can expect metaverse activities to be policed and enforced much like they would be in the physical world, say attorneys at Crowell & Moring.

  • Justices Poised To Reject Narrowing Unclaimed Property Law

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    After U.S. Supreme Court oral arguments in the so-called MoneyGram case — a dispute between Delaware and several other states over which has the right to about $300 million in unclaimed property — the court seems ready to rule against Delaware, but nuances of the court's reasoning will have a broader sweep, say attorneys at Alston & Bird.