Federal
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August 12, 2026
Businessman Entitled To $925K Theft Loss, Tax Court Says
A self-employed businessman who has worked in his family's jewelry business since the 1990s is entitled to a $925,000 theft loss deduction for 2010, the U.S. Tax Court said in a memorandum opinion Wednesday.
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August 12, 2026
Senate OKs Extension Of Tax Deduction For Disaster Losses
The U.S. Senate approved a bill that would extend a federal tax deduction for qualified disaster-related personal casualty losses and a gross income exclusion for eligible wildfire relief payments, sending it to President Donald Trump for consideration.
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August 12, 2026
Rising Star: Cleary's Kylie Barza
Kylie Barza of Cleary Gottlieb Steen & Hamilton LLP has advised on several billion-dollar transactions, including Alphabet's $4.75 billion acquisition of Intersect Power, which closed in 2026, earning her a spot among the tax law practitioners under age 40 honored by Law360 as Rising Stars.
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August 12, 2026
Nations Want AI Covered In UN Tax Pact's Services Protocol
Nations want artificial intelligence covered in a protocol on cross-border services under the proposed United Nations Framework Convention on International Tax Cooperation, according to negotiations.
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August 12, 2026
USCIB Urges OECD To Broaden Digital Platform Tax Relief
The Organization for Economic Cooperation and Development should expand its proposed threshold for triggering digital platform reporting obligations to include all relevant services that fall below a minimum amount, the U.S. Council for International Business said Wednesday.
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August 12, 2026
IRS Guidance Aims To Simplify Retirement Rollover Process
The U.S. Department of the Treasury and Internal Revenue Service released guidance Wednesday to simplify procedures for rollovers between retirement plans and individual retirement accounts.
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August 11, 2026
FinCEN Permanently Rolls Back CTA Reporting Requirement
The U.S. Department of the Treasury's financial crimes unit on Tuesday issued a final rule permanently narrowing reporting regulations under the Corporate Transparency Act, enshrining a regulatory rollback that exempts domestic shell companies from reporting their beneficial ownership information.
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August 11, 2026
Goldstein Unveils Cooley Appeal Team
Thomas Goldstein has unveiled an experienced lineup of appellate lawyers he'll turn to in his bid to overturn 12 tax and mortgage fraud convictions, featuring several attorneys with extensive U.S. Supreme Court experience.
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August 11, 2026
Domino's Franchisee, IRS Near Deal In Penalty Dispute
A Domino's Pizza franchisee and the federal government have mostly agreed in principle on a deal to settle the franchisee's suit alleging the IRS owes it $1.6 million in tax refunds for penalties related to failures to report its employee health coverage plan, the company told a Hawaii federal magistrate judge.
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August 11, 2026
Tax Court Says Couple Failed To Prove AMT Credit Claim
The IRS properly disallowed an Arizona couple's carryforward of an alternative minimum tax credit, the U.S. Tax Court said Tuesday, saying the couple failed to produce records to substantiate the credit's origin.
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August 11, 2026
Nations Concerned By Nexus For Service Fees In UN Tax Pact
Some nations expressed concern that overlapping claims to source-taxation rights could arise under the nexus rules within the United Nations framework tax convention's draft protocol on cross-border services, according to negotiations Tuesday.
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August 11, 2026
Rising Star: Kirkland's William Dong
Kirkland & Ellis LLP's William Dong has served as lead tax counsel on several multibillion-dollar deals spanning industries, including a $4.75 billion sale of a data center and energy infrastructure developer to a tech giant, earning him a spot as one of the tax attorneys under age 40 honored by Law360 as Rising Stars.
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August 11, 2026
Campbell's Soup Targeted In Tariff Refund Suit Blitz
The Campbell's Co. is the latest business to be hit with a proposed class action from consumers seeking to be reimbursed for the inflated costs the food company charged in response to President Donald Trump's now-struck-down global tariffs.
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August 10, 2026
IRS Nix Of $55M Easement Deduction Invalid, Donor Says
A Georgia partnership asked the U.S. Tax Court to reverse an IRS adjustment that disallowed a roughly $55 million deduction for its donation of a conservation easement, contending the agency's "arbitrary" denial flouted procedural requirements.
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August 10, 2026
IRS Staff Cuts Led To Longer Wait Times, GAO Says
Workforce reductions at the Internal Revenue Service led to longer processing times for paper returns, fewer calls answered and longer phone wait times during the 2026 tax filing season, the U.S. Government Accountability Office said in an audit released Monday.
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August 10, 2026
Balch & Bingham Wants Chrisleys' Malpractice Suit Dismissed
Balch & Bingham LLP has moved to dismiss a malpractice complaint from reality television stars Todd and Julie Chrisley, who were pardoned by President Donald Trump in May 2025 after serving over two years in prison for multiple financial crimes, telling the Atlanta federal court the two could "blame only themselves" for their convictions.
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August 10, 2026
Rising Star: Latham's Christine Mainguy
Christine Mainguy of Latham & Watkins LLP led sports live-streaming television service Fubo TV's tax team in its acquisition by Disney and advised Skechers on tax matters in its $9.4 billion take-private acquisition by 3G Capital, earning her a spot among the tax law practitioners under age 40 honored by Law360 as Rising Stars.
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August 10, 2026
Partnership Defends $43M Easement Deduction To Tax Court
The IRS improperly denied an Alabama-based partnership a $43.1 million deduction it claimed for a noncash charitable contribution related to a conservation easement, the partnership told the U.S. Tax Court, disputing the agency's claim that the partnership failed to show it made the donation.
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August 10, 2026
Biz Owners Appeal Morgan Lewis Win In Tax Shelter Suit
A pair of business owners asked the Florida Supreme Court to reverse a decision affirming judgment in favor of Morgan Lewis & Bockius LLP in a dispute over whether the law firm had routed income through illegal tax shelters.
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August 10, 2026
Feds Propose Regs On Trump Account Income Exclusion
The U.S. Treasury Department and IRS proposed regulations Monday on how employers can contribute to Trump Accounts, the new tax-advantaged brokerage accounts for children, along with guidelines on how to apply rules for nondiscrimination testing to those contributions.
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August 07, 2026
Hyatt Says No Rehearing Needed In $300M Rewards Tax Fight
The Seventh Circuit doesn't need to reconsider its decision to remand a dispute over the taxability of $300 million in funds from Hyatt Hotels' loyalty rewards program to the U.S. Tax Court, the hospitality giant told the court.
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August 07, 2026
IRS, Treasury Plan To Float Regs For Retirement Matches
The U.S. Treasury Department and IRS intend to propose regulations to implement a provision of the Secure 2.0 Act of 2022 designed to allow lower-income taxpayers who contribute to their retirement savings to receive a federal contribution of up to $1,000, the agencies said Friday.
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August 07, 2026
Tax Preparers Seek OK Of $1M Deal In OT Suit
Tax preparers who accused a New York tax preparation company of overtime and wage violations have urged a New York federal court to grant preliminary approval of a $1.05 million class action settlement.
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August 07, 2026
Int'l Tax In July: New UK PM, Win For Denmark, US Tariff Pivot
New leadership in the U.K. comes with the possibility of higher tax rates for some businesses in light of Prime Minister Andy Burnham's plans to reform the country's healthcare system, while a recent U.K. Supreme Court case could spell good news for Denmark in its long-running battle against cum-ex fraud. Here, Law360 looks at some of July's biggest international tax developments.
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August 07, 2026
IRS Codifies Changes To Third Party Network Withholding
The Internal Revenue Service finalized a rule that would codify changes to backup withholding for payment platforms such as Venmo and PayPal to reflect last year's budget law's changes to a provision that required those platforms to report aggregate payments of $20,000 or more.
Expert Analysis
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How Gov't May Use FARA To Target 'Domestic Terrorism'
After the Trump administration’s recent memo directing law enforcement to use the Foreign Agents Registration Act to prosecute domestic terrorism, nonprofit organizations receiving funding from foreign sources must assess their registration obligations under the statute, say attorneys at Pillsbury.
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Law School's Missed Lessons: Educating Your Community
Nearly two decades prosecuting scammers and elder fraud taught me that proactively educating the public about the risks they face and the rights they possess is essential to building trust within our communities, empowering otherwise vulnerable citizens and preventing wrongdoers from gaining a foothold, says Roger Handberg at GrayRobinson.
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5 Crisis Lawyering Skills For An Age Of Uncertainty
As attorneys increasingly face unprecedented and pervasive situations — from prosecutions of law enforcement officials to executive orders targeting law firms — they must develop several essential competencies of effective crisis lawyering, says Ray Brescia at Albany Law School.
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It's Time For The Judiciary To Fix Its Cybersecurity Problem
After recent reports that hackers have once again infiltrated federal courts’ electronic case management systems, the judiciary should strengthen its cybersecurity practices in line with executive branch standards, outlining clear roles and responsibilities for execution, says Ilona Cohen at HackerOne.
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Rules Of Origin Revamp May Be Next Big Trade Development
The rules of origin for determining what tariff applies to any given import appear to be on the cusp of an important rethink, and it seems likely that the administration will try to align the rule with its overall tariff strategy in one of three ways, says Ted Posner at Baker Botts.
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IRS Shutdown Backlog May Trigger Collection, Refund Chaos
As the IRS continues to send automated collection notices amid the ongoing federal government shutdown, a mounting backlog of unprocessed refunds, collections filings and mail is causing problems for taxpayers that will continue even after the shutdown ends, says Meeren Amin at Fox Rothschild.
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SDNY OpenAI Order Clarifies Preservation Standards For AI
The Southern District of New York’s recent order in the OpenAI copyright infringement litigation, denying discovery of The New York Times' artificial intelligence technology use, clarifies that traditional preservation benchmarks apply to AI content, relieving organizations from using a “keep everything” approach, says Philip Favro at Favro Law.
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High Court, Not A Single Justice, Should Decide On Recusal
As public trust in the U.S. Supreme Court continues to decline, the court should adopt a collegial framework in which all justices decide questions of recusal together — a reform that respects both judicial independence and due process for litigants, say Michael Broyde at Emory University and Hayden Hall at the U.S. Bankruptcy Court for the District of Delaware.
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Adapting To Private Practice: 3 Tips On Finding The Right Job
After 23 years as a state and federal prosecutor, when I contemplated moving to a law firm, practicing solo or going in-house, I found there's a critical first step — deep self-reflection on what you truly want to do and where your strengths lie, says Rachael Jones at McKool Smith.
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Painting Makes Me A Better Lawyer
Painting trains me to see both the fine detail and the whole composition at once, enabling me to identify friction points while keeping sight of a client's bigger vision, but the most significant lesson I've brought to my legal work has been the value of originality, says Jana Gouchev at Gouchev Law.
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Compliance Pointers Amid Domestic Terrorism Clampdown
A recent presidential memorandum marks a shift in federal domestic-terrorism enforcement that should prompt nonprofits to enhance diligence related to grantees, vendors and events, and financial institutions to shore up their internal resources for increased suspicious-activity monitoring and reporting obligations, say attorneys at Morgan Lewis.
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Trump Tax Law Has Mixed Impacts On Commercial Real Estate
The One Big Beautiful Bill Act brings sweeping changes to the real estate industry — and while the permanency of opportunity zones and bonus depreciation creates predictability for some taxpayers, sunsetting incentives for renewable energy projects will leave others with hard choices, says Jordan Metzger at Cole Schotz.
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Protecting Sensitive Court Filings After Recent Cyber Breach
In the wake of a recent cyberattack on federal courts' Case Management/Electronic Case Files system, civil litigants should consider seeking enhanced protections for sensitive materials filed under seal to mitigate the risk of unauthorized exposure, say attorneys at Redgrave.