Federal

The Tax Angle: Affordable Housing, Red Tape, ACA Credits

Stephen K. Cooper
Editor-at-Large

With the midterm elections less than a year away, House and Senate members have been mulling several bread-and-butter tax issues such as housing, small businesses and healthcare. Here's a peek into a reporter's notebook on a few of these developing tax stories.

5 Takeaways From Eaton Trial On Acquisition Financing, Part 1

Molly Moses
Contributing Editor

The first part of Eaton’s closely watched U.S. Tax Court trial over the company’s financing of a 2012 acquisition has wrapped up, and the judge's questions to witnesses during the first two and a half weeks reveal that he’s leaning the government’s way on at least one of the central questions in the case. Here, Law360 offers five takeaways from the trial held Nov. 3-19, then resuming Dec. 4.

The Tax Angle: Taxpayer Advocate Update, Tax Prom 2025

Stephen K. Cooper
Editor-at-Large

From a look at changes underway at the Taxpayer Advocate Service to remarks by Senate Finance Committee Chairman Mike Crapo at the Tax Prom, the Tax Foundation's annual black tie event, here's a peek into a reporter's notebook on a few developing tax stories.

Nonprofits Face Uncertainty Over Political Activity Rules

Two federal court decisions suggesting that the Internal Revenue Service's rules for 501(c)(4) organizations' political activity may be too vague to survive constitutional scrutiny leave nonprofit organizations caught between constitutional limits on government regulation of speech and tax limits on their exempt status, say attorneys at BakerHostetler.

Supreme Court Term Limits Would Carry Hidden Risk

While proposals for limiting the terms of U.S. Supreme Court justices are popular, a steady stream of relatively young, highly marketable ex-justices with unique knowledge and influence entering the marketplace of law and politics could create new problems, say Michael Broyde at Emory University and Hayden Hall at the U.S. Bankruptcy Court for the District of Delaware.

Tariffs And Trade Volatility Drove 2025 Bankruptcy Wave

The Trump administration's tariff regime has reshaped the commercial restructuring landscape this year, with an increased number of bankruptcy filings showing how tariffs are influencing first‑day narratives, debtor-in-possession terms and case strategies, say attorneys at Thompson Hine.

AI Evidence Rule Tweaks Encourage Judicial Guardrails

Recent additions to a committee note on proposed Rule of Evidence 707 — governing evidence generated by artificial intelligence — seek to mitigate potential dangers that may arise once machine outputs are introduced at trial, encouraging judges to perform critical gatekeeping functions, say attorneys at Lankler Siffert & Wohl.

The Law Firm Merger Diaries: Getting The Message Across

Communications and brand strategy during a law firm merger represent a crucial thread that runs through every stage of a combination and should include clear messaging, leverage modern marketing tools and embrace the chance to evolve, says Ashley Horne at Womble Bond.

Horizontal Stare Decisis Should Not Be Casually Discarded

Eliminating the so-called law of the circuit doctrine — as recently proposed by a Fifth Circuit judge, echoing Justice Neil Gorsuch’s concurrence in Loper Bright — would undermine public confidence in the judiciary’s independence and create costly uncertainty for litigants, says Lawrence Bluestone at Genova Burns.

10 Commandments For Agentic AI Tools In The Legal Industry

Though agentic artificial intelligence has demonstrated significant promise for optimizing legal work, it presents numerous risks, so specific ethical obligations should be built into the knowledge base of every agentic AI tool used in the legal industry, says Steven Cordero at Akerman LLP.

A Close Look At The Evolving Interval Fund Space

Interval funds — closed-end registered investment companies that make periodic repurchase offers — have recently moved to the center of the conversation about retail access to private markets, spurred along by President Donald Trump's August executive order incorporating alternative assets into 401(k) plans and target date strategies, say attorneys at Simpson Thacher.

The Law Firm Merger Diaries: How To Build On Cultural Fit

Law firm mergers should start with people, then move to strategy: A two-level screening that puts finding a cultural fit at the pinnacle of the process can unearth shared values that are instrumental to deciding to move forward with a combination, says Matthew Madsen at Harrison.

Rare Tariff Authority May Boost US Battery Manufacturing

Finalizing preliminary tariffs on active anode material from China — the result of a rare exercise of statutory authority finding that foreign dumping hampered the development of a nascent U.S. industry — should help domestic battery manufacturing, but potential price increases could discourage related clean-energy use, say attorneys at MoloLamken.

Considerations When Invoking The Common-Interest Privilege

To successfully leverage the common-interest doctrine in a multiparty transaction or complex litigation, practitioners should be able to demonstrate that the parties intended for it to apply, that an underlying privilege like attorney-client has attached, and guard against disclosures that could waive privilege and defeat its purpose, say attorneys at DLA Piper.

The Law Firm Merger Diaries: Making The Case To Combine

When making the decision to merge, law firm leaders must factor in strategic alignment, cultural compatibility and leadership commitment in order to build a compelling case for combining firms to achieve shared goals and long-term success, says Kevin McLaughlin at UB Greensfelder.

What To Watch As NY LLC Transparency Act Is Stuck In Limbo

Just about a month before it's set to take effect, the status of the New York LLC Transparency Act remains murky because of a pending amendment and the lack of recent regulatory attention in New York, but business owners should at least prepare for the possibility of having to comply, says Jonathan Wilson at Buchalter.