Federal

  • February 03, 2023

    Treasury Changes Label Standards For Clean Vehicle Credit

    The clean vehicle tax credit will use a consumer-facing labeling standard to determine whether a new van, sport utility vehicle or pickup truck can qualify for the incentive's retail price limits, the U.S. Department of the Treasury announced Friday.

  • February 03, 2023

    House Bill Would Repeal Firearm Transfer Tax

    The transfer tax on firearms would be repealed under a bill introduced in the U.S. House of Representatives.

  • February 03, 2023

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service released its weekly bulletin, which includes a notice that segment rates for calculating pension plan funding rose in January.

  • February 03, 2023

    Boston Tax Preparer Admits To Claiming Sham Deductions

    A Boston tax preparer accused of inventing deductions that drove up refunds for his clients by $2 million pled guilty to preparing a false return after being caught by an undercover agent.

  • February 03, 2023

    Taxation With Representation: Ropes, Kirkland, Skadden

    In this week's Taxation With Representation, GI Partners plans to acquire Atlas Technical Consultants, Chiquita agreed to purchase Dole's fresh vegetable division, and Cheche Technology agreed to a merger.

  • February 02, 2023

    Brothers Plead Not Guilty To Energy Contract Kickbacks

    Two Massachusetts brothers accused of paying kickbacks to get millions of dollars' worth of state-subsidized energy efficiency contracts pled not guilty on Thursday to a second batch of federal charges.

  • February 02, 2023

    Judge Tosses IRS Notice Requiring Easement Disclosure

    An Alabama federal judge on Thursday set aside a 2016 Internal Revenue Service notice requiring the disclosure of certain conservation easement transactions, handing a win to a land donation advisory firm that sought relief from the notice.

  • February 02, 2023

    Law Firm Says Md. Shields It From $1.5M Client Levy

    A Baltimore law firm that lost $1.5 million to an Internal Revenue Service levy triggered by a client's tax history asked a Maryland federal court to refund it, saying the government is flouting a state law tradition protecting third parties from corporate liability.

  • February 02, 2023

    Kirkland Adds Tax Disputes Partner From Skadden

    Kirkland & Ellis LLP added a former Skadden tax partner and onetime U.S. Supreme Court clerk to the firm's Washington, D.C., office as a tax partner, the firm announced.

  • February 02, 2023

    Three Republicans Join Senate Finance Committee

    Republican U.S. Sens. Marsha Blackburn of Tennessee, Ron Johnson of Wisconsin and Thom Tillis of North Carolina have joined the Senate Finance Committee as new members, the panel's top-ranking Republican announced.

  • February 02, 2023

    OECD Clarifies GILTI Allocation Under Global Min. Tax Rules

    The Organization for Economic Cooperation and Development released technical guidance Thursday for implementing international minimum tax rules, including a simplified method for the country-by-country allocation of taxes paid by U.S. companies under the provision for global intangible low-taxed income.

  • February 02, 2023

    9th Circ. Affirms Deficiency In $3M Tax Court Case

    The U.S. Tax Court did no wrong in supporting Internal Revenue Service deficiency calculations against a California couple found to owe nearly $3 million in taxes, the Ninth Circuit said Thursday.

  • February 02, 2023

    Intuit Says User Agreement Bars TurboTax Privacy Suit

    A TurboTax user's proposed class action accusing the company of illegally sharing watch histories with Facebook should instead go to arbitration because the user signed a subscription agreement forgoing her right to sue, parent company Intuit told an Illinois federal court.

  • February 01, 2023

    Choctaw Citizens Can't Escape Okla. Income Tax, Judge Says

    A federal judge said two Choctaw Nation citizens cannot recover thousands of dollars in state income tax simply because they live in Indian Country, slamming the door on a lawsuit that threatened to upend an entire system of civil regulation in Oklahoma.

  • February 01, 2023

    FTC Denies Agency Bid For Win Without Trial In TurboTax Row

    The Federal Trade Commission rejected a bid from its staff attorneys seeking a win without trial in their administrative case alleging TurboTax owner Intuit Inc. duped consumers into thinking they could file their taxes free of charge, saying the case would benefit from a full factual record.

  • February 01, 2023

    House Bill Seeks To Raise SALT Deduction Limits

    A bill introduced in the U.S. House of Representatives would raise the federal limit for deducting state and local taxes.

  • February 01, 2023

    Judge Rips Trump's Reply To AG's $250M Suit, Vows Oct. Trial

    A New York state judge lectured Donald Trump's attorneys Wednesday for their excessively wordy responses to the attorney general's mammoth civil fraud case against him but declined to consider the state's request for sanctions as the suit marches toward an October trial.

  • February 01, 2023

    Ex-CFO Cops To Failing To Pay $3.6M In Employment Taxes

    A former chief financial officer of a not-for-profit mental health organization pled guilty to bank fraud and to failing to remit around $3.6 million in employment taxes to the Internal Revenue Service, federal prosecutors in Oklahoma said.

  • February 01, 2023

    Retired Businessman Wants $2.4M FBAR Case Dropped

    A retired businessman who the IRS says failed to report income held in Barbados asked a Georgia federal court to dismiss a government lawsuit seeking $2.4 million in penalties, contending the agency didn't properly notify him of his liability and missed its deadline to bill him.

  • February 01, 2023

    Dykema Promotes 10 Attorneys To Member In 7 Offices

    National law firm Dykema promoted 10 attorneys to member in its offices in Texas, Michigan and Illinois, ranging in practice from real estate to tax to litigation and environmental, the firm recently announced.

  • January 31, 2023

    Black Americans Face Much Greater Audit Rates, Study Finds

    Black taxpayers are audited at a much higher rate than others due to Internal Revenue Service policies, according to a study published by the Stanford Institute for Economic Policy Research.

  • January 31, 2023

    Getty Images Wants Foreign Tax Credit Exceptions Clarified

    The U.S. Treasury Department should clarify that an exception outlined in proposed foreign tax credit regulations applies to withholding taxes on royalty payments for intangible property licensing based on where the taxes were levied, an attorney representing media company Getty Images said in a letter to the department.

  • January 31, 2023

    Petroleum Refiner Believes $48M Tax Suit Still Live, Court Told

    A petroleum refiner doesn't believe the entirety of its suit seeking a $47.6 million refund for fuel mixture tax credits is dead after the Fifth Circuit sided with the government in a similar suit, according to a filing Tuesday in Texas federal court.

  • January 31, 2023

    IRS Can Release Tax Return Info In Lawsuits, Court Says

    The Internal Revenue Code gives the IRS the right to release tax information that is part of a legal proceeding on tax administration, a D.C. federal court said in explaining why it dismissed an expatriate attorney's challenge to disclosure of his returns.

  • January 31, 2023

    Cos. Urge Broad Qualifications For Chipmaking Tax Credit

    Two technology companies asked the U.S. Department of the Treasury for clarification on a new 25% tax credit for semiconductor manufacturers and suggested the department take a wide view when deciding which companies qualify to receive it.

Expert Analysis

  • 10th Circ. IRS Summons Ruling Shows Cannabis Biz Dilemma

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    The recent Tenth Circuit decision in Speidell v. U.S., allowing the IRS to summon records from Colorado marijuana regulators in an audit proceeding, illustrates the tension state-legal marijuana business owners face when information requested in a civil proceeding is about conduct potentially criminal under federal law, says Jennifer Benda at Hall Estill.

  • Where Renewable Energy Is Headed After Election Day

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    In the past four years, the renewable energy industry has seen considerable growth, despite new obstacles put in place by the Trump administration — and no matter who wins this presidential election, the industry can make a strong case for its ability to create jobs, boost environmental equality and help solve the climate crisis, say attorneys at McDermott.

  • Biden Victory Tax Concerns Could Spur M&A Activity

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    If former Vice President Joe Biden takes the White House, his proposed increase in corporate and capital gains tax rates, and plan to phase out the qualified business income deduction, could cause an uptick in M&A into early 2021 as business owners divest before associated taxes rise, says Crystal Howard at Armstrong Teasdale.

  • Exec Employment Considerations Under A Biden White House

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    Attorneys at Cozen O'Connor highlight steps corporate compensation committees and executives should consider to prepare for tax, liability and retirement savings changes that Joe Biden may introduce if he wins the presidential election.

  • Post-Election Tax Policy Scenario 3: A Divided Government

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    Attorneys at Brownstein Hyatt consider whether Democrats and Republicans will find common ground on tax policies and legislation regarding COVID-19 relief, domestic research and manufacturing, pension and retirement savings, foreign taxation of U.S. companies, and infrastructure development if the upcoming election results in a divided government.

  • Post-Election Tax Policy Scenario 2: A Democratic Sweep

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    Russell Sullivan and Radha Mohan at Brownstein Hyatt consider former Vice President Joe Biden’s perspective that a better economy addresses income inequality, and the likelihood of passing specific tax measures in the event of a Democratic sweep, despite varying party perspectives.

  • Post-Election Tax Policy Scenario 1: A Republican Sweep

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    Attorneys at Brownstein Hyatt analyze tax policies implemented by the Trump administration, such as the Tax Cuts and Jobs Act, and consider what will be on the agenda if Republicans gain full control of both the legislative and executive branches in the election.

  • Defensive Strategies For High-Net-Worth Individual Tax Audits

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    When representing high-net-worth individuals in a tax audit, defensive strategies that cooperate with the examiner and respond to government requests should reflect the overarching goal of preserving client objections, privileges, limitations periods and any other rights in case there is future litigation, says Patrick McCann at Chamberlain Hrdlicka.

  • The Fate Of The ACA And What's Next For Health Care

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    The U.S. Supreme Court's decision in Texas v. U.S. could render the Affordable Care Act unconstitutional in whole or in part, which, combined with the upcoming election, could drive a wide range of impacts on health care policy, businesses and patients, say Michael King and Emily Felder at Brownstein Hyatt.

  • Preparing The Next Generation Of Female Trial Lawyers

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    To build the ranks of female trial attorneys, law firms must integrate them into every aspect of a case — from witness preparation to courtroom arguments — instead of relegating them to small roles, says Kalpana Srinivasan, co-managing partner at Susman Godfrey.

  • Mentorship Is Key To Fixing Drop-Off Of Women In Law

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    It falls to senior male attorneys to recognize the crisis female attorneys face as the pandemic amplifies an already unequal system and to offer their knowledge, experience and counsel to build a better future for women in law, says James Meadows at Culhane Meadows.

  • 5 Ways Firms Can Avoid Female Atty Exodus During Pandemic

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    The pandemic's disproportionate impact on women presents law firms with a unique opportunity to devise innovative policies that will address the increasing home life demands female lawyers face and help retain them long after COVID-19 is over, say Roberta Liebenberg at Fine Kaplan and Stephanie Scharf at Scharf Banks.

  • IRS Real Estate Push Should Wake Up Foreign Investors

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    Two recently announced Internal Revenue Service audit campaigns targeting nonresident alien investment in U.S. real estate should prompt foreign investors to prepare for greater scrutiny as the agency works to improve tax compliance around such transactions, say attorneys at Holland & Knight.

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