Federal

  • March 28, 2025

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's weekly bulletin, issued Friday, included the updated corporate monthly yield bond curve.

  • March 27, 2025

    LA Investor Loses Bid To Recoup Damages From IRS Seizure

    A Los Angeles investor lost a bid in California federal court Thursday to recoup more than $500,000 in damages that, he said, stemmed from the IRS' unlawful seizure of his assets to pay off a $7.2 million late-filing penalty.

  • March 27, 2025

    Pfizer Tops Pharma Tax Avoidance, Senate Dems Say

    Pharmaceutical giant Pfizer had no taxable profits in its largest market, the U.S., after booking all its income in jurisdictions including Puerto Rico, Singapore and Ireland, according to a Senate Finance Committee report prepared by panel Democrats that was released Thursday.

  • March 27, 2025

    Ex-Atty Ran $840M Tax Evasion Scheme, DOJ Says

    A former tax and real estate attorney ran a nationwide scheme that helped his customers avoid paying taxes on as much as $840 million in capital gains, the federal government told an Idaho federal court Thursday.

  • March 27, 2025

    US Ranked Low At Fighting Real Estate Money Laundering

    The U.S. is the third-worst country when it comes to fighting money laundering in real estate because of a lack of regulations, according to a report ranking the national markets of 24 countries.

  • March 27, 2025

    Final APAs Dipped Slightly From 2023 Record High, IRS Says

    The Internal Revenue Service finalized slightly fewer advance pricing agreements for U.S. multinational corporations in 2024 following a record high in the previous year, according to an agency report released Thursday.

  • March 27, 2025

    Payroll Co. Hid IRS Interest Money From Clients, Court Told

    A payroll provider for a maintenance company never passed along interest payments from the Internal Revenue Service related to its clients' pandemic-era relief claims, the company alleged in a proposed class action filed in Washington federal court.

  • March 27, 2025

    9th Circ. Won't Stay Injunction Compelling Fed. Worker Rehire

    A split Ninth Circuit panel has refused to block an injunction compelling the Trump administration to reinstate about 16,000 probationary employees to six federal agencies, saying the administration will likely lose its argument that the agencies weren't acting on an order from above when they fired the workers.

  • March 27, 2025

    NFTC Keeps Pushing For Standardized Pillar 2 Reporting

    The National Foreign Trade Council reiterated its request for the OECD to ensure a standardized approach to acquiring the cross-jurisdiction information required for Pillar Two global minimum tax returns, noting its members still have confidentiality concerns.

  • March 26, 2025

    Sotomayor Urges Caution On Nondelegation Doctrine Revamp

    U.S. Supreme Court Justice Sonia Sotomayor cautioned her colleagues during oral arguments Wednesday against using a challenge to the Federal Communications Commission's administration of a broadband subsidy program as a way to resurrect the long-dormant nondelegation doctrine. Several conservative justices, however, seemed willing to disregard that admonition.

  • March 26, 2025

    Senate Sends Repeal Of Crypto Broker Rule To Trump

    The Senate passed legislation Wednesday that would repeal a final U.S. Treasury Department rule implementing additional reporting requirements for decentralized finance brokers such as cryptocurrency platforms, sending the resolution to President Donald Trump's desk to sign.

  • March 26, 2025

    Coalition Says Trump Admin Flouted Federal Rehiring Order

    The Trump administration responded to an injunction compelling it to rehire over 15,000 fired probationary employees by placing them on leave, not bringing them back to work, a coalition of advocates for the workers told a California federal judge Wednesday, saying the administration hasn't complied with the injunction.

  • March 26, 2025

    Par Funding's Ex-CEO Gets 15½ Years For Racketeering, Fraud

    Par Funding ex-CEO Joseph LaForte was sentenced to 15½ years in prison Wednesday for his role in running a $404 million racketeering conspiracy that prosecutors said involved him bilking the cash advance business's investors and threatening its borrowers with violence if they didn't pay up.

  • March 26, 2025

    Tax Court Erred In Ex-Braves' Easement Feud, 11th Circ. Told

    Two former Atlanta Braves players reupped their arguments before the Eleventh Circuit that the U.S. Tax Court made grave errors in a case that slashed their conservation easement value, saying the federal government's failure to address those missteps shields the issues from legal scrutiny.

  • March 26, 2025

    Feds Seek 2 Years For Device-Maker's $2.4M Tax Evasion

    A Floridian who made millions of dollars on medical devices and pled guilty to evading $2.4 million in taxes should be sentenced to between 24 and 30 months in prison for tax evasion based on the severity of his offense, the U.S. told a federal court Wednesday.

  • March 26, 2025

    Senate Approves Trump's Pick For Deputy Treasury Secretary

    The Senate approved President Donald Trump's nomination of Michael Faulkender to the post of deputy secretary of the U.S. Treasury Department on Wednesday, sending the economist back to the agency for a second tenure. 

  • March 26, 2025

    Engineering Co. Owner Can't Deduct His Time, Tax Court Says

    The owner of a Colorado engineering company cannot deduct the value of the time he spent working on software without showing any amounts actually paid, the U.S. Tax Court ruled Wednesday in upholding the majority of $135,000 in tax deficiencies, plus penalties, against the owner.

  • March 26, 2025

    Ex-UBS North America CEO's $4.9M FBAR Deal Gets OK

    The former North American CEO for Swiss bank UBS will pay a $4.9 million judgment under a deal approved by a Connecticut federal court Wednesday that resolves the U.S. government's suit alleging he willfully neglected to file foreign bank account reports with the IRS for a decade.

  • March 26, 2025

    Goldstein's Devices Must Be Monitored, Judge Affirms

    A Maryland federal judge on Tuesday rejected U.S. Supreme Court lawyer and SCOTUSblog publisher Tom Goldstein's request to dismiss a bail condition that requires his electronic devices to be monitored out of concerns that he's been hiding millions in cryptocurrency from the government and could flee while facing tax evasion charges.

  • March 26, 2025

    Justices Rule Ch. 7 Trustee Can't Recover Tax Payments

    The U.S. Supreme Court on Wednesday reversed a Tenth Circuit decision allowing the bankruptcy trustee of a defunct Utah company to claw back $145,000 in federal taxes, saying the sections of the Bankruptcy Code relied upon by the trustee provide only a limited waiver of sovereign immunity.

  • March 25, 2025

    IRS Cuts May Delay Taxpayer Help Beyond 2025 Filing Season

    IRS staff cuts and early retirements, driven by the White House's push to shrink government, will likely lead to longer phone hold times and reduced service and make it harder for taxpayers to get assistance for the remainder of the 2025 tax return filing season and beyond.

  • March 25, 2025

    Md. Bank Disputes IRS Denial Of Captive Tax Perk

    A Maryland community bank is contesting in the U.S. Tax Court the Internal Revenue Service's decision to scrap two years' worth of tax deductions tied to a reinsurance captive, disputing the agency's findings that the arrangement had no economic purpose other than tax avoidance.

  • March 25, 2025

    Californian Must Allocate Half Of Income To Husband

    A woman who filed returns separately from her husband must allocate half her income to him under California community property law, the U.S. Tax Court ruled Tuesday, determining the husband did indeed live in the state.

  • March 25, 2025

    AICPA Suggests Changes To IRS Retirement Enrollment Rules

    Final Internal Revenue Service and U.S. Department of the Treasury rules establishing automatic enrollment requirements for certain retirement plans should clarify that investment requirements are not applicable to certain plans, the American Institute of CPAs said in a letter released Tuesday.

  • March 25, 2025

    Tax Court Affirms Captive Insurance Premiums Nondeductible

    Shareholders in a California company cannot deduct their premium payments for insurance coverage from a captive insurer, the U.S. Tax Court ruled Tuesday, saying the arrangement did not constitute insurance for federal tax purposes. 

Expert Analysis

  • The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan

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    Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.

  • State Of The States' AI Legal Ethics Landscape

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    Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.

  • 8 Childhood Lessons That Can Help You Be A Better Attorney

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    A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.

  • How The 2025 Tax Policy Debate Will Affect The Energy Sector

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    Regardless of the outcome of the upcoming U.S. election, 2025 will bring a major tax policy debate that could affect the energy sector more than any other part of the economy — so stakeholders who could be affected should be engaging now to make sure they understand the stakes, say attorneys at Mayer Brown.

  • This Election, We Need To Talk About Court Process

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    In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.

  • Mental Health First Aid: A Brief Primer For Attorneys

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    Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.

  • The Trade And Tax Issues Behind US-Canada Digital Tax Clash

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    The new Canadian digital services tax recently went into effect despite objections from the U.S., a controversy that represents an unusual mix of trade and tax policy, and many companies have been pondering how it will affect their e-commerce businesses, says Damon Pike at BDO.

  • Litigation Inspiration: Honoring Your Learned Profession

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    About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.

  • AI May Limit Key Learning Opportunities For Young Attorneys

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    The thing that’s so powerful about artificial intelligence is also what’s most scary about it — its ability to detect patterns may curtail young attorneys’ chance to practice the lower-level work of managing cases, preventing them from ever honing the pattern recognition skills that undergird creative lawyering, says Sarah Murray at Trialcraft.

  • A Look At How De Minimis Import Rules May Soon Change

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    The planned implementation of executive actions focused on the de minimis rule as it applies to shipments means companies should use this interval to evaluate the potential applicability and impact of Section 301, Section 201 or Section 232 duties on their products, say attorneys at Holland & Knight.

  • Ruling On Foreign Dividend Break Offers 2 Tax Court Insights

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    In Varian v. Commissioner, the U.S. Tax Court allowed a taxpayer's deduction for dividends from foreign subsidiaries, providing clarity on how the U.S. Supreme Court’s Loper Bright decision may affect challenges to Treasury regulations, and revealing a potential disallowance of foreign tax credits, say attorneys at Davis Polk.

  • Why Now Is The Time For Law Firms To Hire Lateral Partners

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    Partner and associate mobility data from the second quarter of this year suggest that there's never been a better time in recent years for law firms to hire lateral candidates, particularly experienced partners — though this necessitates an understanding of potential red flags, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.

  • Considering Possible PR Risks Of Certain Legal Tactics

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    Disney and American Airlines recently abandoned certain litigation tactics in two lawsuits after fierce public backlash, illustrating why corporate counsel should consider the reputational implications of any legal strategy and partner with their communications teams to preempt public relations concerns, says Chris Gidez at G7 Reputation Advisory.

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