Federal
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June 26, 2025
Agreement Reached To Cut 'Revenge' Tax From Budget Bill
A proposal designed to protect U.S. multinational corporations from paying higher taxes abroad will be stripped from the GOP's budget reconciliation bill pending an agreement with the Group of Seven nations announced Thursday by the U.S. Treasury Department, leaders of House and Senate tax committees said.
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June 26, 2025
Senate Confirms Trump's Pick For Treasury Tax Policy Post
The Senate on Thursday approved President Donald Trump's pick to lead the U.S. Treasury Department's tax policy efforts, who is expected to play a key role in steering the department and carrying out the president's tax agenda.
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June 26, 2025
Tax Court Again Rejects Man's Arguments As Frivolous
A Utah man who claimed his employment income and annuity payments were not taxable must pay the taxes plus an $1,100 fine for repeatedly making frivolous arguments, the U.S. Tax Court ruled Thursday.
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June 26, 2025
Israeli Tax Firm Can't Sue US Over Regs, Gov't Says
A U.S. attorney and his Israeli tax firm can't sue the U.S. Treasury Department over regulations related to taxing overseas income because the underlying law — not the regulations — is the source of their claimed injuries, the U.S. government told a D.C. federal court.
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June 26, 2025
Solar Co. Meyer Burger Can Tap $10M DIP To Fund Ch. 11 Sale
Swiss solar panel maker Meyer Burger's U.S. unit secured a Delaware bankruptcy judge's interim approval Thursday for a $10 million debtor-in-possession loan as it looks to sell two manufacturing sites in Chapter 11.
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June 26, 2025
Developer, IRS Drop Suit Over $18M Loan Deductions
A Florida real estate developer seeking $18 million in tax deductions for loans he said became worthless during the Great Recession agreed to drop his suit against the Internal Revenue Service after reaching a deal with the agency, according to an Eleventh Circuit court filing.
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June 25, 2025
Trade Court Cannot Stop Trump's Tariffs, Gov't Tells Fed. Circ.
The U.S. Court of International Trade hamstrung President Donald Trump in ongoing global trade negotiations when it blocked emergency tariffs he had imposed and deemed them unlawful, the government told the Federal Circuit on Tuesday, urging it to reverse the lower court's ruling.
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June 25, 2025
Treasury Tax Policy Pick Overcomes Key Procedural Hurdle
President Donald Trump's choice to serve as the U.S. Department of the Treasury's assistant secretary for tax policy overcame a procedural hurdle in the Senate on Wednesday when the chamber voted to proceed to a confirmation vote this week.
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June 25, 2025
IRS Advisers Call For Tech Upgrades, Tax Preparer Regs
Improvements to digital payment and filing processes, regulation of tax return preparers and use of advanced technologies are among the areas the IRS and Congress need to focus on to boost the agency's operations, an advisory group said Wednesday.
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June 25, 2025
NJ Accountant Admits To Role In $1.3B Easement Tax Scheme
A New Jersey accountant admitted to promoting fraudulent conservation easement tax shelters to wealthy clients in connection with a $1.3 billion scheme that triggered decades-long prison sentences for two ringleaders, the U.S. Department of Justice said Wednesday.
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June 25, 2025
Pa. Wealth Manager Gets 8 Years For Stealing Client Money
A suburban Philadelphia wealth manager was sentenced Wednesday to just over eight years in prison for using nearly $25 million of his clients' money on properties, country club fees and luxury vacations, his counsel said.
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June 25, 2025
Lobbyist Who Evaded Taxes Gets Prison, $1.7M Restitution
A Miami lobbyist who admitted to evading taxes was sentenced to prison and ordered to pay $1.7 million in restitution to the U.S. after prosecutors said he spent years pretending to sell his house to pay off his debt, according to a Florida federal court.
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June 25, 2025
Taxpayer Advocate Warns Against Further IRS Staffing Cuts
President Donald Trump's administration should lift the IRS' hiring freeze and restore the agency's direct hire authority to ensure it will be equipped to meet taxpayer needs, the National Taxpayer Advocate said Wednesday, warning that further cuts will cripple the agency.
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June 25, 2025
EisnerAmper Adds International Tax Pro To Minneapolis Office
EisnerAmper has expanded its international tax services group with a new partner who helps individual and corporate clients navigate legislation, regulatory risks and compliance obligations.
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June 24, 2025
30 Groups Call For Fixes To Steel, Aluminum Tariff Regime
The U.S. Department of Commerce should improve the process under which steel and aluminum imports are subject to tariffs to minimize unintended consequences, the National Foreign Trade Council and other industry groups said in a letter released Tuesday.
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June 24, 2025
GOP Budget Would Protect US From OECD Taxes, Rep. Says
Senate tax writers working on the $3.8 trillion budget reconciliation bill should support its international tax provisions intended to protect U.S. multinationals from paying higher taxes under the OECD's framework, a House Ways and Means Committee member said Tuesday.
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June 24, 2025
US Won't Stand In Way Of Domestic Min. Taxes, Official Says
The U.S. government wants to preserve other nations' ability to levy domestic minimum taxes on American multinational corporations' local income while ensuring countries can't apply international rules to make those companies pay a minimum rate everywhere they operate, a U.S. Treasury Department official said Tuesday.
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June 24, 2025
Eaton Urges 6th Circ. To Shield Worker Reviews From IRS
An Ohio federal judge should have shielded Eaton Corp.'s evaluations of more than a dozen overseas workers from an IRS investigation of the company's sale of intellectual property, not just the records for workers whose jobs were unrelated to the tax issue, the company told the Sixth Circuit.
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June 23, 2025
US Rules On Amount B 'May Take Some Time,' Official Says
A team is working on draft Internal Revenue Service regulations implementing the simplified transfer pricing approach for baseline marketing and distribution activities known as Amount B, a U.S. Treasury official said Monday, adding that the guidance "may take some time" given the project's unusual origins.
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June 23, 2025
Tax Court Upholds IRS Collection Action Against Calif. Couple
The U.S. Tax Court sustained the IRS' collection action against a California couple for unpaid 2015 and 2021 taxes Monday, saying the agency did not abuse its discretion when it declined the taxpayers' request to withdraw the lien.
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June 23, 2025
New IRS Chief Calls For Culture Change At Agency
New IRS Commissioner Billy Long has called for a transformation of the agency's culture, telling employees that he plans to make the IRS friendlier to both taxpayers and workers during his term, the agency said Monday.
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June 23, 2025
Litigation Funders Fight 'Kill Shot' In 'Big Beautiful Bill'
Litigation funders are in panic mode over a provision in the massive federal spending bill that would impose a 41% punitive tax on the $16 billion industry, with one executive calling it a "kill shot" and an academic warning it amounts to "unprecedented" weaponization of the U.S. tax code.
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June 23, 2025
OECD Official Signals Skepticism About US-Pillar 2 Harmony
Countries are questioning the U.S. Treasury Department's position that the U.S. international tax system can coexist alongside the Pillar Two worldwide minimum tax regime without undermining the global framework, an Organization for Economic Cooperation and Development official said Monday.
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June 23, 2025
Weil Gotshal Hires Akin Gump Tax Partner In NY
Weil Gotshal & Manges LLP announced Monday the hiring of a partner at Akin Gump Strauss Hauer & Feld LLP as a tax partner out of Weil's New York office.
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June 23, 2025
IRS Updates Coal Closure Areas For Energy Community Perk
The IRS released Monday an updated list of counties with shuttered coal manufacturing operations and other locations used to determine a clean energy development project's eligibility to get a boost in tax credits for being in communities that historically relied on the fossil fuel industry.
Expert Analysis
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We Must Allow Judges To Use Their Independent Judgment
As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.
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Preparing For Tariffs On Canadian Power In The Northeast
The on-again, off-again risk of import and export tariffs on energy transactions between the U.S. and Canada may have repercussions for U.S. energy stakeholders in the ISO New England and New York Independent System Operator electricity markets — but there are options that could help reduce cost impacts, say attorneys at Husch Blackwell.
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Making The Case For Rest In The Legal Profession
For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.
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Mitigating Tariff Risks For Healthcare In US And Canada
Healthcare stakeholders should take steps to evaluate the impact of cross-border tariffs, as the historically strong ties between Canada and the U.S. demonstrate the potential for real disruption and harm to the healthcare industry in both countries, say attorneys at Norton Rose.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.
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A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.
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Why NY May Want To Reconsider Its LLC Transparency Law
Against the backdrop of the myriad challenges to the federal Corporate Transparency Act, it may be prudent for New York to reconsider its adoption of the LLC Transparency Act, since it's unclear whether the Empire State's "baby-CTA" statute is still necessary or was passed prematurely, say attorneys at Pillsbury.
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IRS Scrutiny May Underlie Move Away From NIL Collectives
The University of Colorado's January announcement that it was severing its partnership with a name, image and likeness collective is part of universities' recent push to move NIL activities in-house, seemingly motivated by tax implications and increased scrutiny by the Internal Revenue Service, say attorneys at Buchanan Ingersoll.
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from Practical Guidance
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.
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IRS Should Revise Overbroad Microcaptive Regs
Rather than seeking to curtail use of congressionally sanctioned microcaptive insurance programs by imposing burdensome disclosure obligations, the Internal Revenue Service should revisit its recently finalized regulations and implement rules tailored to address areas of specific abuse, say attorneys at Zerbe Miller.
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Terraform Case May Be Bellwether For Crypto Enforcement
The prosecution of crypto company Terraform Labs and its CEO, Do Kwon, offers a unique test of the line between lawful and unlawful conduct in digital transactions, and the Trump administration’s posture toward the case will provide clues about its cryptocurrency enforcement agenda in the years to come, say attorneys at Brooks Pierce.
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How Law Firms Can Counteract The Loneliness Epidemic
The legal industry is facing an urgent epidemic of loneliness, affecting lawyer well-being, productivity, retention and profitability, and law firm leaders should take concrete steps to encourage the development of genuine workplace connections, says Michelle Gomez at Littler and Gwen Mellor Romans at Herald Talent.
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Texas Fraud Case Shows Dangers Of Faulty Crypto Reporting
The recent sentencing of a man who failed to properly report capital gains from bitcoin sales is a reminder that special attention must be given to the IRS' reporting requirements in order to stay out of the government's crosshairs, says Saverio Romeo at Fox Rothschild.