Federal

Expert Analysis

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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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.