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May 05, 2026
Ending Carried Interest Tax Break May Net $88B, Report Says
Ending the carried interest tax break could raise far more than previously estimated, nearly $88 billion in a decade, based on a new methodology put forward in a report by the Yale Budget Lab.
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May 05, 2026
IRS Beats Suit Claiming Secret Rule Targeted Stock Plan
A transportation company cannot pursue its claims that the IRS adopted a secret rule that targeted its stock ownership plan, a Wisconsin federal judge ruled, throwing out the company's suit.
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May 05, 2026
Limited Partners Reject Self-Employment Tax In 1st Circ.
An energy investment company told the First Circuit that its self-employment tax dispute is distinct from that of the taxpayer in a 2009 Federal Circuit ruling that barred refunds to a partnership's individual partners, saying the cases involve different subsections of U.S. income tax law.
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May 05, 2026
Wis. Village Urges 7th Circ. To Void Oneida Tribal Trust Order
A Wisconsin village is asking the Seventh Circuit to undo a U.S. Department of the Interior decision to place 500 acres of properties into trust for the Oneida Nation, arguing that a district court ignored evidence of bias and shielded the transactional record from meaningful scrutiny.
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May 05, 2026
US Ends $15M Tax Refund Fight With Gas Biz Partners
The U.S. government agreed to end litigation alleging that several Texas residents had erroneously claimed a total of about $15 million in tax refunds tied to a partnership involving gas and oil operations in Equatorial Guinea.
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May 05, 2026
IRS To Implement Digital Signatures In Penalty Approvals
The Internal Revenue Service agreed to require supervisors to use digital signatures to approve tax penalties as a way to prevent improper backdating and other edits to the approval documents, the agency watchdog said in a report released Tuesday.
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May 04, 2026
Biz Hit With Extra Penalties For Captive Insurance Deductions
A Florida business must pay additional penalties for deductions taken for microcaptive insurance expenses, the U.S. Tax Court said Monday, backing the IRS' imposition of 40% penalties for tax years 2012 through 2015.
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May 04, 2026
Ex-IRS Agent Accused Of Stealing $12M From Fuel Co.
A former Internal Revenue Service agent was arrested for allegations that he embezzled more than $12 million in his role as a chief financial officer of a New Jersey fuel company, the New Jersey U.S. Attorney's Office said.
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May 04, 2026
Ga. Partnership Defends $46M Deduction For Land Donation
A Georgia partnership defended its claimed deduction of $46 million for 235 acres donated to a land conservation group, saying the IRS wrongly disallowed the amount and determined it underpaid its 2021 taxes by $17 million.
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May 04, 2026
Tax Court Slashes $30M Deductions For Georgia Easements
The U.S. Tax Court slashed two partnerships' charitable tax deductions worth a combined $30 million for a pair of conservation easement donations, ruling Monday that the easements' outsize valuation was an attempt to make "too many fast nickels."
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May 04, 2026
Managers Of Embattled Easement Say RICO Suit Lacks Details
Investment fund managers behind a conservation easement donation whose charitable tax deduction was embroiled in litigation asked a Georgia federal court to toss a racketeering suit against them by a pair of investors, arguing the fraud claims do not match the allegations.
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May 04, 2026
IRS Issues Employer Payment Index For Coverage Penalties
The IRS provided indexing adjustments Monday for calculating penalties against large employers that don't offer health insurance to their full-time workers or whose full-time workers opt to enroll in government-subsidized health coverage using premium tax credits.
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May 04, 2026
IRS Approves Co.'s Retroactive Transfer Pricing Changes
The IRS Office of Chief Counsel has endorsed a company's proposal to reduce certain transfer pricing adjustments through a setoff after retroactively changing how it allocated costs between related companies, according to a memorandum.
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May 04, 2026
Partnership Defends $3M Deduction For Yacht Purchase
A partnership said the IRS wrongly disallowed expenses associated with its boat chartering and fishing tournament activities, including the purchase of a $3 million yacht, during 2020 and 2021, when the COVID-19 pandemic severely disrupted its business.
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May 01, 2026
Biz Group Slams IRS' 'Implicit Support' Argument In Eaton
An international business group urged the U.S. Tax Court to reject IRS arguments that Eaton Corp. deserved a higher credit rating due to its foreign parent's "implicit support," saying the case could significantly affect its members' U.S. tax liabilities.
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May 01, 2026
Int'l Tax In April: Progress On Tariff Refunds, New Tax Cuts
U.S. Customs and Border Protection continued to make progress in April on its system for paying back the tariffs that President Donald Trump imposed under the International Emergency Economic Powers Act. Meanwhile, several countries and one U.S. state cut fuel taxes in response to the U.S. and Israel's war with Iran. Here, Law360 looks at those and other international tax developments from the past month.
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May 01, 2026
Tax Shelter Defendant Says Discovery Errors Allow Dismissal
A man charged with promoting abusive and illegal tax shelters for decades asked a Colorado federal judge just days before trial to throw out the indictment against him, contending the government withheld material exculpatory evidence for more than a year.
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May 01, 2026
Kostelanetz Adds Ex-IRS Criminal Investigation Chief In NY
Kostelanetz LLP has hired a former chief of the U.S. Internal Revenue Service's law enforcement branch who spent more than 30 years there investigating tax and financial crime, domestically and abroad, the firm announced Friday.
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May 01, 2026
Texas Plastics Co. Seeks To Nix Full Captive Rules In 5th Circ.
A plastics company is appealing a Texas district court's decision to partially vacate IRS regulations that listed captive insurance as potentially abusive tax avoidance schemes and will ask the Fifth Circuit to strike down the entire set of regulations, according to a notice.
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May 01, 2026
IRS Failed To Vet GILTI Regs For Small Biz, Court Told
The Internal Revenue Service failed to assess how final regulations implementing the 2017 tax law's global intangible low-taxed income regime would affect small businesses, an Israeli law firm told the D.C. federal court Friday, arguing the rules violate administrative law.
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May 01, 2026
IRS Says Tribal Fishing Income Counts Toward Retirement
Income earned by citizens of Native American tribes as payment for services related to fishing rights activities qualifies as compensation for purposes of limits on qualified retirement plan benefits and contributions, the Internal Revenue Service said Friday.
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May 01, 2026
Ex-Fla. Rep. Guilty Of FARA Violations For Venezuela Work
A Florida federal jury on Friday found former Florida congressman David Rivera guilty of failing to register as a foreign agent after signing a $50 million contract with a unit of Venezuela's state-owned oil company.
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May 01, 2026
Weekly Internal Revenue Bulletin
The Internal Revenue Service's weekly bulletin, released Friday, included proposed regulations that would implement a higher threshold of $2,000 for when gambling businesses must report payouts to the government.
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April 30, 2026
6th Circ. Judge Skeptical Of IRS In $24M Air Excise Tax Case
A Sixth Circuit judge expressed confusion Thursday at the IRS' defense of a $24 million air transportation excise tax on monthly management fees paid to a private aviation company after a government attorney conceded that initial ownership payments should also have been taxed.
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April 30, 2026
Trump To Drop Scottish Whiskey Tariffs After UK Royal Visit
The U.S. will grant imported whiskey from the United Kingdom preferential tariff treatment following the visit to the U.S. by King Charles and Queen Camilla, President Donald Trump said on social media Thursday.
Expert Analysis
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Legal Jeopardy Looms Over Trump's Trade Negotiation Plans
Even as the Trump administration announces one trade deal after another, the legal authority of the executive branch to impose tariffs under consensual arrangements with leading trading partners is just as debatable as the unilateral imposition of U.S. tariffs under the president's executive orders, says Jeffrey Bialos at Eversheds Sutherland.
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Opportunity Zone Overhaul Is Good News For Investors
Recently enacted reforms making the qualified opportunity zone program permanent, restoring the basis step-up for capital gains and adding flexibility to the zone designation process enhance the program’s appeal for long-term investment, says Steven Hadjilogiou at McDermott.
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White House Report Strikes An Optimistic Note On Crypto
Taking seriously President Donald Trump's pledge to adopt a pro-innovation mindset toward digital assets and blockchain technologies, a recent benchmark White House report on crypto provides a comprehensive regulatory framework that takes into account the products' novel characteristics within the high-tech ecosystem, say attorneys at Davis Wright.
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Bipartisan Bill Could Aid ESOP Formation, Valuation Clarity
The proposed Retire through Ownership Act represents a meaningful first step toward clarifying whether transactions qualify under the adequate consideration exemption in the Employee Retirement Income Security Act, potentially eliminating the litigation risk that has chilled employee stock ownership plan formation, say attorneys at Moore & Van Allen.
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Bar Exam Reform Must Expand Beyond A Single Updated Test
Recently released information about the National Conference of Bar Examiners’ new NextGen Uniform Bar Exam highlights why a single test is not ideal for measuring newly licensed lawyers’ competency, demonstrating the need for collaborative development, implementation and reform processes, says Gregory Bordelon at Suffolk University.
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A Simple Way Courts Can Help Attys Avoid AI Hallucinations
As attorneys increasingly rely on generative artificial intelligence for legal research, courts should consider expanding online quality control programs to flag potential hallucinations — permitting counsel to correct mistakes and sparing judges the burden of imposing sanctions, say attorneys at Lankler Siffert & Wohl and Connors.
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Supreme Court's Criminal Law Decisions: The Term In Review
Though the U.S. Supreme Court’s criminal law decisions in its recently concluded term proved underwhelming by many measures, their opinions revealed trends in how the justices approach criminal cases and offered reminders for practitioners, says Kenneth Notter at MoloLamken.
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Budget Act's Deduction Limit Penalizes Losing Gamblers
A provision in the One Big Beautiful Bill Act that reduces the deduction for gambling losses is unfair to professional and recreational players, risks driving online activity to offshore sites, and will set back efforts to legalize and regulate the industry, says Walter Bourdaghs at Kang Haggerty.
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The Legal Education Status Quo Is No Longer Tenable
As underscored by the fallout from California’s February bar exam, legal education and licensure are tethered to outdated systems, and the industry must implement several key reforms to remain relevant and responsive to 21st century legal needs, says Matthew Nehmer at The Colleges of Law.
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6 Questions We Should Ask About The Trump Trade Deals
Whenever the text becomes available, certain questions will help determine whether the Trump administration’s trade deals with U.S. trading partners have been crafted to form durable economic relationships, or ephemeral ties likely to break upon interpretive disagreement or a change in political will, says Ted Posner at Baker Botts.
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E-Discovery Quarterly: Rulings On Relevance Redactions
In recent cases addressing redactions that parties sought to apply based on the relevance of information — as opposed to considerations of privilege — courts have generally limited a party’s ability to withhold nonresponsive or irrelevant material, providing a few lessons for discovery strategy, say attorneys at Sidley.
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Section 1983 Has Promise After End Of Nationwide Injunctions
After the U.S. Supreme Court recently struck down the practice of nationwide injunctions in Trump v. Casa, Section 1983 civil rights suits can provide a better pathway to hold the government accountable — but this will require reforms to qualified immunity, says Marc Levin at the Council on Criminal Justice.
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Playing Soccer Makes Me A Better Lawyer
Soccer has become a key contributor to how I approach my work, and the lessons I’ve learned on the pitch about leadership, adaptability, resilience and communication make me better at what I do every day in my legal career, says Whitney O’Byrne at MoFo.