Federal

  • August 22, 2025

    Taxation With Representation: Kirkland, Weil, Fried Frank

    In this week's Taxation With Representation, private equity firm Thoma Bravo buys human resources software provider Dayforce Inc. in a take-private deal, Lowe's buys Foundation Building Materials, Nexstar Media Group Inc. acquires fellow media company Tegna Inc., and Soho House & Co. Inc. inks a take-private deal with hotel operator MCR.

  • August 22, 2025

    Michigan Judge Gives Initial OK To Tax Foreclosure Deal

    A Michigan federal judge has granted preliminary approval to a settlement that would allow former property owners to receive the surplus profits they allege county treasurers made selling their tax-delinquent properties.

  • August 22, 2025

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's weekly bulletin, issued Friday, included proposed rules that would change its system of business classification for employees hoping to exclude fringe benefits and employee discounts from their gross income.

  • August 22, 2025

    Treasury Doubles Statutory Value Of Clean Energy Credit

    The U.S. Department of the Treasury is nearly doubling the statutory value of an income tax credit for producing electricity in line with a regularly scheduled increase tied to inflation, according to a Friday notice.

  • August 22, 2025

    IRS Guidance Sparks Mixed Reaction For Solar, Wind Projects

    The IRS recently narrowed the way large solar and wind energy development projects can set their construction start dates to qualify for certain tax credits, a change offering relief for some developers but new hurdles for others depending on the stage, type and size of the project.

  • August 21, 2025

    Tax Court Says Civil Fraud Penalty Cases Don't Require Juries

    The U.S. Tax Court rejected Thursday a Mississippi partnership's bid, based on the Supreme Court's landmark 2024 decision requiring a jury to adjudicate common law fraud penalties, to dismiss civil fraud penalties the IRS imposed on a conservation easement transaction.

  • August 21, 2025

    Man Who Hid Account From Wife Owes FBAR Fines, US Says

    A claim by the owner of a check-cashing business that he only meant to hide a foreign bank account from his wife during divorce proceedings doesn't excuse his failure to report the money to the Internal Revenue Service, the U.S. told a California federal court.

  • August 21, 2025

    EU, US Agree To Eliminate Industrial Tariffs

    The European Union and the U.S. have agreed on new terms to the trade agreement to eliminate EU tariffs on U.S. industrial products and implement a 15% U.S. tariff cap for most other sectors, according to a joint statement issued Thursday.

  • August 21, 2025

    Treasury Gets New Acting International Tax Counsel

    A deputy international tax counsel for the U.S. Department of the Treasury has been elevated to serve as acting counsel, he said in a post on LinkedIn.

  • August 21, 2025

    IRS Asks For Input On Free Filing Programs

    The Internal Revenue Service is surveying the public on tax preparation and filing as part of efforts to prepare a report for Congress on key issues surrounding free tax filing options, the agency said Thursday.

  • August 21, 2025

    Gov't Shrugs Off Sentencing Errors, IRS Leaker Tells DC Circ.

    The IRS contractor appealing his five-year prison sentence for leaking thousands of wealthy people's tax returns to the media accused the U.S. of glossing over sentencing errors that unfairly burdened him with "the harshest sentence possible," he told the D.C. Circuit.

  • August 21, 2025

    G7 Deal May Undermine Global Minimum Tax Enforcement

    The U.S. government's agreement with the Group of Seven nations to effectively exempt American companies from the 15% global minimum tax may hollow out enforcement of the international regime, in part because other multinational corporations may pursue similar treatment.

  • August 20, 2025

    Gov't Asks 8th Circ. To Ignore 2nd Circ. Tax Deadline Ruling

    A government attorney seeking to stop a couple from challenging their tax bill in the U.S. Tax Court urged the Eighth Circuit not to follow the Second Circuit's recent determination that the 90-day petition filing deadline is flexible, saying that decision split from long-held precedent.

  • August 20, 2025

    Fla. Man Who Evaded $7M In Federal Taxes Gets Probation

    A Florida investor who admitted to cheating the Internal Revenue Service out of $7 million in taxes was sentenced Wednesday to probation after telling a federal judge he suffers from serious health issues, including Stage 4 kidney cancer and early-onset dementia.

  • August 20, 2025

    Texas Plastics Co. Says Captive Insurance Program Legit

    A plastics manufacturer's captive insurance program to cover itself from various industrial and commercial risks was set up for legitimate reasons, the company told a Texas federal court in a bid to restore a tax deduction the IRS had denied on its premiums.

  • August 20, 2025

    Morris Manning Faces $5M Ga. RICO Suit Over Tax Strategy

    Morris Manning & Martin LLP is facing allegations of racketeering and tax fraud in a suit brought in Georgia state court by three investors that names a number of professional services firms.

  • August 20, 2025

    IRS To Nix Recent Rules On Disregarded Foreign Payments

    The U.S. Treasury Department and IRS said Wednesday that they're planning to remove rules issued in January that would have forced companies to recognize income from payments that are disregarded for U.S. taxes yet reduce income in a foreign jurisdiction, a move prompted by criticism from businesses.

  • August 20, 2025

    Nutter Welcomes Tax Atty In NY From Fox Horan

    Less than a month after announcing it had grown its ranks by 8% with the addition of 13 attorneys in three states, Nutter McClennen & Fish LLP said earlier this week that it has hired a New York-based tax attorney from Fox Horan & Camerini LLP.

  • August 20, 2025

    IRS Lost Lien In Bankruptcy, Man Says In $28M Tax Battle

    The Internal Revenue Service jettisoned any federal tax lien it claims to have against a man by filing an unsecured claim in his bankruptcy case, he told a Florida federal court Wednesday in response to the government's $28 million lawsuit against him.

  • August 19, 2025

    IRS To Float Rules Aimed At Easing Corporate Moves To US

    The IRS announced plans Tuesday to propose regulations that would make it easier for publicly traded foreign corporations that own U.S. real estate to move their official base to the U.S. without facing unexpected tax issues.

  • August 19, 2025

    IRS Told To Explain Granting $142M Contract Without Bids

    The IRS must explain why it thinks an executive order mandating electronic tax payments required it to skip the competitive bidding process in awarding a $142 million contract for scanning and digitizing incoming tax filings, the Court of Federal Claims said.

  • August 19, 2025

    Reasoning For IRS Firings Clashes With Reality, TIGTA Says

    Probationary workers at the Internal Revenue Service who were told earlier this year that they were fired for performance had been rated highly or had not been there long enough to be evaluated, according to a report Tuesday by the Treasury Inspector General for Tax Administration.

  • August 19, 2025

    Fed. Circ. Won't Revisit Steel Duties On German Companies

    The Federal Circuit denied Tuesday a request for it to reconsider a precedential opinion upholding steel duties on German companies imposed after the U.S. Department of Commerce applied adverse facts available in an antidumping investigation.

  • August 19, 2025

    Medtronic Sees Tariffs Adding $185M To Costs This Year

    Medtronic expects tariffs to add $185 million to its costs over the course of its current fiscal year, an amount lower than a previous estimate due to the company's efforts to lessen tariffs' impact, an executive said Tuesday in an earnings call.

  • August 19, 2025

    NJ Man Gets 30 Months For Russian Arms Dealing Scheme

    A dual U.S.-Russian national was sentenced in a New York federal court to 30 months in prison after pleading guilty to his role in a scheme to smuggle sensitive, U.S.-made technology to further Russia's weapons development, prosecutors announced.

Expert Analysis

  • Expect Surging Oil And Gas Industry Under New Trump Admin

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    Throughout his recent campaign, President-elect Donald Trump promised increased oil and natural gas production and reduced reliance on renewables — and his administration will likely bring more oil and gas dealmaking, faster federal permitting and attempts to roll back incentives for green energy, say attorneys at Sidley.

  • The Bar Needs More Clarity On The Discovery Objection Rule

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    Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.

  • Cos. Should Inventory Issues To Prep For New Congress

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    As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.

  • Conservation Easement Cases Weave Web Of Uncertainty

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    Much of the IRS and Justice Department’s recent success in prosecuting syndicated conservation easement cases can be attributed to the government’s focus on the so-called PropCo ratio, which could indicate treacherous waters ahead for participants and their advisers, even under the incoming Trump administration, say attorneys at Polsinelli.

  • So You Want To Move Your Law Practice To Canada, Eh?

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    Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

  • Legislation Most Likely To Pass In Lame Duck Session

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    As Congress begins its five-week post-election lame duck session, attorneys at Greenberg Traurig break down the legislative priorities and which proposals can be expected to pass.

  • What Trump's 2nd Presidency Could Mean For Crypto Sector

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    Trump's second term will bring a fundamental shift from the Biden administration's approach to crypto-asset regulation and banking supervision, with the most significant changes likely taking effect in the first two quarters of 2025 and broader policy shifts emerging over the next year, say attorneys at Cahill.

  • Promoting Diversity In The Selection Of ADR Neutrals

    Excerpt from Practical Guidance
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    Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.

  • Striking A Balance Between AI Use And Attorney Well-Being

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    As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.

  • Takeaways From The IRS' Crypto Doc Summons Win

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    A recent First Circuit decision holding that taxpayers do not have a Fourth Amendment reasonable expectation of privacy in cryptocurrency transaction records should prompt both taxpayers and exchanges to take stock of past transactions and future plans, say attorneys at BakerHostetler.

  • How Judiciary Can Minimize AI Risks In Secondary Sources

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    Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.

  • How Attorneys Can Break Free From Career Enmeshment

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    Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.

  • Ex-Chicago Politician's Case May Further Curb Fraud Theories

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    The U.S. Supreme Court recently agreed to hear Thompson v. U.S. to determine whether a statement that is misleading but not false still violates federal law, potentially heralding the court’s largest check yet on prosecutors’ expansive fraud theories, with significant implications for sentencing, say attorneys at the Law Offices of Alan Ellis.

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