Expert Analysis

• Compliance Obligations Still Murky For Superfund Excise Tax

  

  Comments on the IRS' reinstatement of the Superfund chemicals excise tax show that, given taxpayers' lack of institutional knowledge and the government's previous failure to finalize clarifying guidance, further regulatory action is needed to help taxpayers understand their obligations, say Nicole Elliott and Mary Kate Nicholson at Holland & Knight.

• Murdaugh Trials Offer Law Firms Fraud Prevention Reminders

  

  As the fraud case against Alex Murdaugh continues to play out, the evidence and narrative presented at his murder trial earlier this year may provide lessons for law firms on implementing robust internal controls that can detect and prevent similar kinds of fraud, say Travis Casner and Helga Zauner at Weaver and Tidwell.

• Challenging Standing In Antitrust Class Actions: Rule 23

  

  A recent Sixth Circuit decision in Fox v. Saginaw County that rejected the common attempt to use Rule 23 to sidestep Article III's standing limitations shows antitrust defendants' success in challenging standing will rest on happenstance without more clarity from the Supreme Court — which no litigant should be comfortable with, say Michael Hamburger and Holly Tao at White & Case.

• The Reciprocal Tax Bill Is A Warning Shot At Pillar 2

  

  A bill recently introduced in the House of Representatives to reciprocally tax countries deemed to have imposed discriminatory taxes on U.S. citizens and businesses takes aim at countries implementing the global minimum tax treaty known as Pillar Two, with which the U.S. has not complied, says Alan Cole at the Tax Foundation.

• Firm Tips For Helping New Lawyers Succeed Post-Pandemic

  

  Ten steps can help firms significantly enhance the experience of attorneys who started their careers in the coronavirus pandemic era, including facilitating opportunities for cross-firm connection, which can ultimately help build momentum for business development, says Lana Manganiello at Equinox Strategy Partners.

• Cost To Gov't Means Justices Must Review NC Sales Tax Case

  

  The U.S. Supreme Court should review and overrule the North Carolina high court’s decision in Quad Graphics v. North Carolina Department of Revenue — an anticipatory overruling of precedent that expands the state sales tax base and imposes a stealth tax on the federal government, says Richard Pomp at the University of Connecticut Law School.

• How REITs Can Prep For SEC's Repurchase Disclosure Rules

  

  With real estate investment trusts' share repurchase activity on the rise, REITs should beware the potential enforcement risks that may arise from the U.S. Securities and Exchange Commission's new rules requiring additional disclosures regarding such repurchases, says Zach Swartz at Vinson & Elkins.

• Tackling Judge-Shopping Concerns While Honoring Localism

  

  As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.

• Potential Risks And Benefits Of NY Cannabis Crop Rescue Act

  

  Though proposed legislation in New York would help struggling cannabis farmers by allowing them to sell their crops directly to consumers, it poses numerous challenges for retailers and the state’s regulatory framework — and striking the right balance here will be crucial to shaping a sustainable, equitable industry, say Meaghan Feenan and William Wolfe at Harris Beach.

• Perspectives

  How Attorneys Can Help Combat Anti-Asian Hate

  

  Amid an exponential increase in violence against Asian American and Pacific Islander communities, unique obstacles stand in the way of accountability and justice — but lawyers can effect powerful change by raising awareness, offering legal representation, advocating for victims’ rights and more, say attorneys at Gibson Dunn.

• Opinion

  Congress Needs To Enact A Federal Anti-SLAPP Statute

  

  Although many states have passed statutes meant to prevent individuals or entities from filing strategic lawsuits against public participation, other states have not, so it's time for Congress to enact a federal statute to ensure that free speech and petitioning rights are uniformly protected nationwide in federal court, say attorneys at Skadden.

• 3 Developments That May Usher In A Nuclear Energy Revival

  

  A recent advancement in nuclear energy technology, targeted provisions in the Inflation Reduction Act and a new G7 agreement on nuclear fuel supply chains may give nuclear power a seat at the table as a viable, zero-carbon energy source, say attorneys at Vinson & Elkins.

• What Tax-Exempt Orgs. Need From Energy Credit Guidance

  

  Guidance clarifying the Inflation Reduction Act’s credit regime, expected from the U.S. Department of the Treasury this summer, should help tax-exempt organizations determine the benefits of clean energy projects and integrate alternative energy investments into their activities, say attorneys at Morgan Lewis.

• Unconventional Profits Interest Structures Find New Support

  

  A recent U.S. Tax Court ruling should provide comfort that less-than-plain-vanilla profits interest structures, created to achieve complicated economic arrangements, can succeed in generating more optimal tax outcomes, provided the terms are properly drafted, says Daren Shaver at Hanson Bridgett.

• Roadblocks For Cannabis Employers Setting Up 401(k) Plans

  

  Though the Internal Revenue Code and the Employee Retirement Income Security Act generally allow cannabis businesses to establish 401(k) plans for their employees, companies must still pick their way through uncertainties around tax deductions and recruiting reliable vendors, say attorneys at Shipman & Goodwin.