Federal

  • January 25, 2023

    NY Man Sentenced To 18 Months For $500,000 Bribery Scheme

    A New York man was sentenced to 18 months in prison for bribery and tax evasion he committed while working as a manager for a company that sells warranties to homeowners for repairs to sewer and water pipes.

  • January 25, 2023

    House Tax Panel Must Probe OECD Deal, GOP Member Says

    The House Ways and Means Committee must probe the potential impact of the Organization for Economic Cooperation and Development's global tax deal in meetings to better understand whether it's beneficial for U.S. businesses, a Republican member of the panel said Wednesday.

  • January 25, 2023

    Tax Court Denies $15K Payment Alimony Deduction

    A Californian can't deduct a payment of $15,000 made his to ex-wife's attorney as alimony for purposes of his 2017 taxes, the U.S. Tax Court said Wednesday.

  • January 25, 2023

    Tax Court Affirms Accuracy Penalty Against Pharmacist

    A Massachusetts pharmacist is liable for an accuracy-related penalty on his 2018 tax return, the U.S. Tax Court said Wednesday.

  • January 25, 2023

    Ex-Tech CEO Who Evaded $600K In Taxes Asks For Leniency

    A former tech chief executive officer who pled guilty to evading $600,000 in taxes, a felony, asked a Florida federal court for leniency, saying more than half the amount he failed to pay stemmed from the misdemeanor crime of failing to file.

  • January 25, 2023

    IRS Launches Forms 1099 Online Filing System

    Businesses that file Form 1099 information returns can file them electronically for the first time this year through an online portal aimed at helping overhaul Internal Revenue Service operations and reducing paperwork, the agency announced Wednesday.

  • January 25, 2023

    Estate Representatives Owe $1.3M Tax Debt, Court Told

    An estate's $1.3 million tax debt should fall to its current representative as well as the representative for the former representative's estate, who are also trustees of a trust with related assets, the U.S. told a Nevada federal court.

  • January 25, 2023

    Calif. Dentistry Owes $2M In Unpaid Employment Tax, US Says

    A dentistry owes more than $2 million in employment taxes to the federal government and should be barred from paying its workers' wages without paying the associated liabilities, the U.S. told a California federal court Wednesday.

  • January 25, 2023

    US Seeks Foreclosure To Collect Security Co.'s $943K Tax Bill

    A Nevada federal court should allow the foreclosure of property so that the federal government can recoup around $943,000 in taxes owed by a security company, the U.S. government said in a complaint.

  • January 25, 2023

    Texas Couple Say IRS Silent For Too Long On Refund Claim

    A formerly married couple from Texas asked a federal court to help them recover an $880,000 tax refund, saying the Internal Revenue Service has not responded to their claim for the money since they filed the request three years ago.

  • January 24, 2023

    Trump Drops 2nd Suit Against NY AG Following Sanctions

    Former President Donald Trump on Tuesday dropped his bid to revive a suit challenging the New York attorney general's investigation into his business dealings, the second time Trump has abandoned litigation against Letitia James since a Florida federal judge hit him with sanctions last week.

  • January 24, 2023

    AMC, Sony Rip Tax Biz's 'Better Call Saul' Defamation Suit

    Liberty Tax Service's lawsuit accusing AMC Networks and Sony of disparaging the company by depicting a similar business that stole customers' cash in "Better Call Saul" stretches trademark and defamation laws "beyond their breaking point" and should be thrown out, the show's creators told a New York federal judge Tuesday.

  • January 24, 2023

    8th Circ. Reverses 'Block' Bar On H&R Block Rival

    The Eighth Circuit undid a temporary bar on Block Inc. from using its name in connection with its tax product, finding Tuesday that a lower court incorrectly concluded that an injunction was warranted because consumers could confuse the company's product with H&R Block's filing services.

  • January 24, 2023

    US Prevails In Most Of FBAR Case Against Ore. Couple

    A federal judge ruled mostly for the federal government Tuesday in a case it brought against an Oregon couple for not filing reports of their foreign bank accounts.

  • January 24, 2023

    Tax Court Says IRS Properly Certified Man's $1.2M Debt

    The Internal Revenue Service properly certified a man's $1.2 million tax debt, resulting in a win for the government on the question of whether that would allow the secretary of state to revoke or deny his passport, the U.S. Tax Court said Tuesday.

  • January 24, 2023

    Ex-CFO Cops To Hiding Income In $25M Expenses Case

    The former chief financial officer and majority owner of a North Carolina employee benefits company pled guilty Tuesday in federal court to filing a false tax return in connection with passing off $25 million in personal spending as business expenses, the U.S. Department of Justice said.

  • January 24, 2023

    Tax Court Denies IRS Early Win Over Couple's Passports

    The Internal Revenue Service can't win without a trial on whether a Louisiana couple's tax debt would allow the U.S. secretary of state to revoke their passports, because the record didn't show the agency properly certified the debt, the U.S. Tax Court said Tuesday.

  • January 24, 2023

    9th Circ. Affirms Tax Court Can't Grant Refund In IRS Offer

    The Ninth Circuit affirmed a U.S. Tax Court ruling that the specialty court lacked authority to refund a business owner's $80,000 payment to the IRS, saying its jurisdiction over the particular kind of payment was limited.

  • January 24, 2023

    Liberty Global Doubles Down On Bid To Toss $283M Tax Suit

    Multinational telecommunications company Liberty Global Inc. is proceeding with its bid to get the government's $283 million tax suit against it tossed, despite warnings from a Colorado federal court that such a dismissal request would likely be rejected and "builds unnecessary delay into the case."

  • January 24, 2023

    Retired Atty Must Pay IRS $1.7M For Gambling Tax Scam

    A retired Canadian lawyer who admitted he had a gambling addiction owes $1.7 million in restitution to the IRS after he pled guilty to submitting false U.S. tax returns that inflated the withholdings on his jackpot winnings, allowing him to pocket unearned refunds.

  • January 23, 2023

    US Seeks OK For Revised FBAR Fine Against Vineyard Owner

    A California federal court should hold a vineyard owner liable for more than $343,000 in penalties for failing to disclose her overseas bank accounts, the U.S. said, after the IRS recalculated the penalties following a court order.

  • January 23, 2023

    IRS Going To 7th Circ. In Tax Battle Over Tribune's Cubs Sale

    The federal government is pursuing a Seventh Circuit appeal of a U.S. Tax Court decision finding Tribune Media Co. didn't owe tax for 2009 after the IRS sought to increase its liability by nearly $182 million in connection with its sale of the Chicago Cubs.

  • January 23, 2023

    Tax Court Sustains Salesman's Decade Of Deficiencies

    A Maryland insurance salesman failed to prove that income he received from a client over nearly a decade was a loan, the U.S. Tax Court said Monday, sustaining the deficiencies determined by the Internal Revenue Service.

  • January 23, 2023

    Shop Owner Can't Take Mortgage Deduction, Tax Court Says

    The co-owner of jewelry and auto shops cannot deduct mortgage interest of $66,000 for 2012 for Arizona condominiums he claimed to own with his brother because he didn't present evidence he owned the property, the U.S. Tax Court decided Monday.

  • January 23, 2023

    Floridian Urges Court To Deny Gov'ts $18M Repatriation Bid

    A Floridian should be allowed to keep about $18 million overseas while the Eleventh Circuit weighs his appeal against the IRS' penalty calculation for undisclosed Swiss bank accounts, he told a Florida federal court, arguing against the U.S. government's repatriation bid.

Expert Analysis

  • Key Considerations For Seeking Relief From Double Taxation

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    Caroline Setliffe and E. Miller Williams at Eversheds Sutherland lay out the Organization for International Cooperation and Development’s mutual agreement procedure for settling double-taxation disputes, and discuss six factors U.S. taxpayers doing business in multiple countries should consider when determining the most advantageous form of relief.

  • High Court Could Resolve Thorny Atty-Client Privilege Issue

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    The U.S. Supreme Court recently granted review in a federal grand jury proceeding that presents a rare opportunity to clarify — and possibly significantly expand — the scope of the attorney-client privilege for complex mixed-purpose communications with counsel, says David Greenwald at Jenner & Block.

  • 2 Tax Decisions Hold Key Transfer Pricing Takeaways

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    Richard Slowinski and Stefanie Kavanagh at Alston & Bird discuss two recent decisions in cases against the IRS — Eaton Corp. from the Sixth Circuit and Medtronic from the Tax Court — that may help clarify when the agency can cancel an advance pricing agreement, but leave unanswered questions about which pricing method applies to high-value intercompany licensing transactions.

  • Patagonia's Succession Plan Is A Blueprint For Biz Owners

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    While not every business owner is interested in giving their company away to a charitable purpose like Patagonia's founder recently did, the outdoor apparel company's unique situation highlights the considerations that should go into any succession plan, says Abosede Odunsi at Freeborn & Peters.

  • The CHIPS Act: Key Takeaways For Semiconductor Industry

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    The Biden administration’s recently signed CHIPS Act signals that the U.S. is making progress toward bolstering the domestic semiconductor industry, and manufacturers must prepare by understanding the requirements of the act and associated Department of Commerce guidance, say attorneys at Miller & Chevalier.

  • Digital Taxation Is Necessary, But Tough To Manage

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    The U.S. government has started to tackle complex new tax laws as the digital economy continues to grow, but this demands guidelines that will facilitate the growth while protecting investors and the government's finances, say attorneys at Cadwalader.

  • 5 Considerations When Seeking Federal EV Funding

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    A recent White House fact sheet shows how federal efforts to support the full scope of the electric vehicle industry have moved the needle, but some details about how to use those funds are still being ironed out, and there are a few issues to watch, say attorneys at Morgan Lewis.

  • Unpacking The Inflation Reduction Act's Energy Tax Credits

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    Provisions in the recently enacted Inflation Reduction Act that affect how taxpayers can monetize clean energy tax credits will change how clean energy projects are financed, but taxpayers that may not be allowed multiple credits need to determine which type of credit will be the most advantageous, say attorneys at BakerHostetler.

  • How COVID Has Changed Project Development And Finance

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    Two and a half years into the pandemic, some COVID-19-specific provisions are now common in the project development and finance markets, while others are still undergoing negotiation, say Nate Galer and Katy McNeil at Mayer Brown.

  • Unpacking The Shift In DOJ Corporate Enforcement Policy

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    Attorneys at Paul Hastings provide takeaways for companies seeking to mitigate increased enforcement risks from the U.S. Department of Justice's recent corporate prosecution policy changes, including greater focus on individuals, requirements for cooperation credits, evaluations of prior misconduct, expectations for compliance programs and factors for determining whether to impose a monitor.

  • What AML Bill Could Mean For Firms, Funds And FinCEN

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    If passed, an amendment within Congress’ annual defense bill would expand the list of institutions subject to anti-money laundering regulations, from law firms to investment funds, creating potential rulemaking and enforcement challenges for the Financial Crimes Enforcement Network, say attorneys at Arnold & Porter.

  • How Inflation Reduction Act Will Lift Offshore Wind Projects

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    The Inflation Reduction Act should promote the development of offshore wind energy in multiple ways — including by improving the planning and permitting process for transmission infrastructure, expanding potential lease areas and making beneficial changes to the tax credits available for renewable energy developers, say attorneys at Day Pitney.

  • CORRECTED: New Tax Credits For Renewables Should Offer Investors Relief

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    The Inflation Reduction Act's changes to tax credits for renewable energy projects should finally liberate tax equity investors from the restraints of the complex and onerous federal anti-abuse regime, says Kay Hobart at Parker Poe. Correction: Because of an editing error, a previous version of this article incorrectly characterized tax enforcement regimes in North Carolina and other states. This error has been corrected.

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