Federal

  • May 23, 2024

    Akerman Brings On Kilpatrick Tax Ace In LA

    Akerman LLP is boosting its tax team, bringing in a Kilpatrick Townsend & Stockton LLP corporate tax and energy tax credit expert as a partner in its Los Angeles office.

  • May 22, 2024

    Justices' CFPB Alliance May Save SEC Courts, Not Chevron

    A four-justice concurrence to the U.S. Supreme Court's decision upholding the Consumer Financial Protection Bureau's unique funding scheme last week carries implications for other cases pending before the court that challenge the so-called administrative state, or the permanent cadre of regulatory agencies and career government enforcers who hold sway over vast swaths of American economic life.

  • May 22, 2024

    Hunter Biden's Calif. Tax Trial Pushed From June To Sept.

    A California federal judge on Wednesday moved Hunter Biden's criminal tax trial from June 20 to September over objections from the government and after Biden's attorney said the upcoming date is too close to his client's June 3 gun trial in Delaware, although the judge said no more extensions will be given.

  • May 22, 2024

    Disposal Co. Manager Owes Tax With Ex, Tax Court Says

    A disposal company manager who accused his ex-wife of committing fraud in preparing their tax return owes his share of taxes with her for a disallowed deduction they took for a vehicle his employers provided for his job, the U.S. Tax Court said.

  • May 22, 2024

    Taxpayers Received $90M In Refunds In Direct Filing Pilot

    Taxpayers who used the IRS' Direct File pilot program this year took an average of 20 minutes to file a return and received more than $90 million in refunds, but no decision has been reached on whether to expand the free program or make it permanent, the agency said Wednesday.

  • May 22, 2024

    IRS To Extend Free File Program For 5 Years

    The Internal Revenue Service has agreed to a five-year extension of the Free File program, in which tax software businesses offer their return preparation and filing products free to the lowest 70% of taxpayers by adjusted gross income, the agency announced Wednesday.

  • May 22, 2024

    IRS Didn't Honor Partnership's Audit Election, Tax Court Says

    The U.S. Tax Court invalidated a tax liability determination by the IRS for an Ohio partnership for 2016, saying in a ruling Wednesday that the partnership had made a valid election to undergo a special audit process and the agency had failed to honor it.

  • May 22, 2024

    Bipartisan Bill Would Make US Presidents' Tax Returns Public

    Presidents and vice presidents would be required to disclose their tax returns for the two years preceding their time in office under legislation introduced Wednesday by House Oversight and Accountability Committee Chairman James Comer.

  • May 22, 2024

    Judge Not Entitled To Deduct Expenses, Tax Court Says

    A part-time administrative law judge for the state of California can't deduct $25,000 in unreimbursed employee business expenses because his wages are not considered the sort of fees that would allow it, the U.S. Tax Court ruled Wednesday.

  • May 22, 2024

    IRS Opens $6B Advanced Energy Tax Credit Allocation Portal

    The application portal is open through June 21 for manufacturers seeking a share of a second-round $6 billion tax-credit allocation for their development projects that support the clean energy industry, the Internal Revenue Service announced Wednesday.

  • May 22, 2024

    IRS Again Delays Reporting Rules for Certain BEAT Payments

    The Internal Revenue Service is deferring until 2027 the applicability date of requirements for reporting certain intercompany payments that are exempt from the base erosion and anti-abuse tax, the agency announced Wednesday.

  • May 22, 2024

    IRS Misses 10% Improper Payment Goal Again, TIGTA Says

    The Internal Revenue Service again failed to reduce the rate at which it makes incorrect payments to 10% in 2023, a goal set by 2019 legislation, the Treasury Inspector General for Tax Administration said Wednesday.

  • May 22, 2024

    'Ghost' Prepper, Feds Agree To Shut Down Tax Businesses

    A Connecticut businessman accused by the federal government of "ghost preparing" his customers' taxes and inflating their refunds by putting false information on their IRS paperwork has agreed to shut down his businesses in a cashless settlement.

  • May 22, 2024

    BofA Deserves Tax Refunds On Merger Interest, 4th Circ. Told

    The IRS should not have been allowed to keep the interest paid on 23 years' worth of tax underpayments by seven companies that merged into Bank of America, the company told the Fourth Circuit, arguing that the underpayments should be offset by overpayments under merger law.

  • May 22, 2024

    IRS Again Delaying Dividend Anti-Abuse Regs

    The Internal Revenue Service is again extending the transition period for rules that govern certain financial transactions that could avoid withholding on dividend payments to foreign taxpayers, it announced Wednesday.

  • May 21, 2024

    FTC Noncompete Ban Raises Stakes For Nonprofit Hospitals

    The Federal Trade Commission seems eager to apply its employee noncompete ban to healthcare, with a key target in mind: nonprofit healthcare providers that, in the agency's view, act more like for-profit businesses.

  • May 21, 2024

    House Sends Disaster Tax Relief Bill To Senate

    The U.S. House of Representatives overwhelmingly passed legislation Tuesday that would exclude disaster relief payments from a taxpayer's gross income, sending the bill to the Senate.

  • May 21, 2024

    Nixing Green Energy Tax Perks Would Be Tough For Trump

    Former President Donald Trump has vowed to scrap Democrats' signature 2022 climate law should he get reelected in November, but following through on that campaign promise could prove difficult amid bipartisan support for many of the law's clean energy tax incentives and a potentially divided Congress.

  • May 21, 2024

    Wyden Expands Pharma Tax Investigation With Pfizer Inquiry

    Senate Finance Committee Chairman Ron Wyden asked Pfizer to provide details on its tax practices to explain how the drug company has consistently paid tax rates that are significantly lower than the corporate tax rate in a letter released by the committee Tuesday.

  • May 21, 2024

    Option Agreement In $6.9M Sale Not A Sham, Tax Court Says

    A Delaware gravel company and related companies that sold a freeway pit for $6.9 million under an option agreement, and then used it to enter into a like-kind exchange for another property, deferring the tax, was not a tax-avoidance sham, the U.S. Tax Court ruled Tuesday.

  • May 21, 2024

    CohnReznick Adds PwC Partner To International Tax Practice

    CohnReznick has a new principal in its international tax practice who previously served as a partner at PwC, the firm announced.

  • May 21, 2024

    Decision On Direct File Future Is Close, Werfel Says

    The Internal Revenue Service is nearing a decision on the future of its free electronic tax return filing pilot program, Commissioner Daniel Werfel told reporters Tuesday.

  • May 21, 2024

    Oil Estate Off The Hook For $9M Gift Tax, Tax Court Rules

    The estate of a woman who owned an oil company with her husband then terminated marital trusts after he died does not owe more than $9 million in gift taxes on the related transactions as the IRS had claimed, the U.S. Tax Court ruled.

  • May 21, 2024

    22 States Tell 11th Circ. Corp. Transparency Act Goes Too Far

    The federal Corporate Transparency Act unconstitutionally displaces state authority and its enforcement would economically harm states and their residents, attorneys general from 22 states told the Eleventh Circuit, urging it to uphold a ruling that struck down the law.

  • May 21, 2024

    Senate Dems Float Tax-Advantaged Child Savings Accounts

    Senate Democrats want to create tax-advantaged savings accounts to help children save from the time they are born, they said during a Finance Committee hearing Tuesday, but their Republican counterparts are unlikely to support proposals to create the accounts, claiming it would be too costly.

Expert Analysis

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Why Supreme Court Should Allow Repatriation Tax To Stand

    If the U.S. Supreme Court doesn't reject the taxpayers' misguided claims in Moore v. U.S. that the mandatory repatriation tax is unconstitutional, it could wreak havoc on our system of taxation and result in a catastrophic loss of revenue for the government, say Christina Mason and Theresa Balducci at Herrick Feinstein.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law

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    A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.

  • Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • How IRA Unlocks Green Energy Investments For Tribes

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    An Inflation Reduction Act provision going into effect May 10 represents a critical juncture for Native American tribes, offering promising economic opportunity in green energy investment, but requiring a proactive and informed approach when taking advantage of newly available tax incentives, say attorneys at Lewis Brisbois.

  • Former Minn. Chief Justice Instructs On Writing Better Briefs

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    Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.

  • What To Know About IRS' New Jet Use Audit Campaign

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    The Internal Revenue Service recently announced plans to open several dozen audits scrutinizing executive use of company jets, so companies should be prepared to show the business reasons for travel, and how items like imputed income and deduction disallowance were calculated, say attorneys at Morgan Lewis.

  • Stay Interviews Are Key To Retaining Legal Talent

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    Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.

  • Judicial Independence Is Imperative This Election Year

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    As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • What Recent Study Shows About AI's Promise For Legal Tasks

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    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

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