Federal
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September 23, 2025
Trump Tariffs Are Constitutional, President's Allies Tell Justices
Two Republican lawmakers and two allied nonprofit groups told the U.S. Supreme Court on Tuesday that it should allow President Donald Trump's emergency tariffs authorized under the International Emergency Economic Powers Act.
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September 23, 2025
$6.6M IRS Civil Fraud Penalty Ruled Constitutional
A Pennsylvania federal judge upheld a $6.6 million civil fraud tax penalty against an insurance broker over its captive deductions, ruling Tuesday that the Internal Revenue Service's assessment of the penalty without a jury trial was constitutional.
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September 23, 2025
Tax Court Slashes $38M In Easement Donation Deductions
The U.S. Tax Court on Tuesday slashed $38 million in deductions for donations of two conservation easements across hundreds of acres in Georgia, finding one lacked the required conservation purpose and neither was potentially headed for mining development as the donors had claimed.
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September 23, 2025
EU Eyeing Country-Level Min. Tax Exemption For US Cos.
The European Union's preferred method for accommodating the U.S. proposal to exempt American companies from the 15% global minimum tax's international provisions would be to allow a conditional safe harbor that member countries would need to enact individually, a top EU tax official told lawmakers Tuesday.
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September 23, 2025
IRS To Phase Out Paper Refund Checks Starting Sept. 30
The Internal Revenue Service won't mail refund checks to individual taxpayers beginning Sept. 30, the agency announced Tuesday, citing an executive order mandating direct deposit or other secure electronic payments to cut down on fraud and stolen or lost payments.
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September 23, 2025
IRS Updates Per-Diem Deduction Rates For Business Travel
Per-diem rates used to compute business travel expense tax deductions will be $319 for travel to high-cost areas and $225 for travel to low-cost areas starting in October, the Internal Revenue Service said Tuesday.
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September 23, 2025
Financial Co. Urges Upgrades For Child Savings Accounts
A financial services company urged the U.S. Department of the Treasury to adopt practical measures for implementing the new tax-advantaged children's accounts, including clarifying its position on linking contributions made through existing employee pretax benefit plans, according to correspondence released Tuesday.
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September 23, 2025
DOL Greenlights Guaranteed Income Investments In 401(k)s
The U.S. Department of Labor's employee benefits arm issued guidance Tuesday making clear that employers can offer lifetime income insurance products as a default investment in 401(k) plans, responding to an executive order by President Donald Trump calling for expanded access to nontraditional retirement plan assets.
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September 23, 2025
Full Effects Of US Tariffs 'Yet To Be Felt,' OECD Report Says
Economic growth in the U.S. is expected to dip in 2026 partly because of global trade tensions, the full effects of which "have yet to be felt," the Organization for Economic Cooperation and Development reported Tuesday.
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September 23, 2025
Co. Can't Fight Unproven IRS Stock Plan Rule, Judge Says
A company that claimed the Internal Revenue Service secretly passed a rule targeting its employee stock ownership plan failed to show the rule exists, a Wisconsin federal judge said in tossing the company's case.
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September 22, 2025
The Tax Angle: Green Energy Permits, Enhanced ACA Credits
From a look at permitting delays holding up solar and wind tax credit projects to uncertainty surrounding the renewal of Affordable Care Act enhanced premium tax credits, here's a peek into a reporter's notebook on a few of the week's developing tax stories.
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September 22, 2025
Oklahoma Couple Owe Taxes On Ranch, Tax Court Says
An Oklahoma couple owe more than $240,000 in taxes and penalties because their ranch was not operated for profit as they claimed, the U.S. Tax Court ruled Monday.
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September 22, 2025
VC Partner Fights IRS Summonses Tied To Korean Tax Probe
A partner at a U.S. venture capital firm urged a California federal court to quash IRS summonses seeking information on his bank accounts in connection with his tax liabilities in South Korea, saying the agency failed to meet requirements for enforcing the summonses.
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September 22, 2025
Perkins Coie Adds Former US Treasury Tax Policy Atty In DC
Perkins Coie LLP has brought on a tax attorney who worked in the U.S. Department of the Treasury's Office of Tax Policy, where he handled work related to laws such as the Inflation Reduction Act and the One Big Beautiful Bill Act, the firm announced Monday.
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September 22, 2025
Boston Activist Admits Defrauding Donors, Gov't
A Boston anti-violence activist once hailed as a rising civic leader admitted Monday in a federal courtroom to using thousands of dollars in donations and grants to her nonprofit for personal expenses like meals and travel, defrauding a pandemic-era unemployment program, and other charges.
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September 22, 2025
IRS Extends Relief To Livestock Farmers Hit By Drought
Farmers and ranchers forced to sell livestock because of drought conditions in 49 states have more time to replace the animals and defer tax on gains from the sales, the Internal Revenue Service said in guidance released Monday.
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September 22, 2025
4th Circ. Scraps Ambulance Co. Owner's Tax Sentence
A former ambulance company owner sentenced to six years in prison for tax evasion will be resentenced after the Fourth Circuit found a Virginia federal court erred by not telling him in person about a condition of his punishment.
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September 19, 2025
Feds Urge Justices To Back Trump's Emergency Tariffs
The federal government told the U.S. Supreme Court Friday that lower courts incorrectly determined President Donald Trump's emergency tariffs unlawful under a statute that gives the executive broad authority to regulate the economy in matters of national emergency,.
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September 19, 2025
Foreign Entity Rules Begin To Shape Clean Energy Deals
The recently enacted federal budget that attaches stricter foreign supply chain and business ownership rules to clean energy tax credits has started to take practical effect, with project developers rewriting agreements to avoid getting snagged in the new regulatory regime.
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September 19, 2025
Pillar 2 At 4: High Compliance Costs, Low Tax Liabilities
Four years after countries agreed to an international minimum corporate tax regime known as Pillar Two, finance executives and policy observers are voicing a common refrain: multinational companies likely will pay more compliance costs than actual taxes under the new rules.
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September 19, 2025
Bills Would End Emergencies For Tariffs On Brazil, Canada
A national emergency underpinning U.S. tariffs imposed on Canada and another one justifying most American tariffs on Brazil would be ended under a pair of resolutions introduced with bipartisan support by Sen. Tim Kaine, D-Va.
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September 19, 2025
$1M FBAR Penalty Without Jury Unconstitutional, Judge Says
A woman who faced more than $1 million in civil penalties for failing to report offshore bank accounts to the IRS is off the hook, as a Texas federal court ruled Friday that the federal government violated her constitutional right to a jury trial.
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September 19, 2025
Cayman Hedge Fund Takes $100M Tax Dispute To 3rd Circ.
A Cayman Islands hedge fund urged the Third Circuit to revive its challenge to a $100 million tax bill for earning money in connection with a U.S. business, saying the business did not exist, contrary to claims by the IRS and the U.S. Tax Court.
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September 19, 2025
Weekly Internal Revenue Bulletin
The Internal Revenue Service's weekly bulletin, consisted of just one item, the removal of a proposed rule that would have allowed the U.S. State Department to share taxpayer return information related to the revocation or denial of passports for those with serious tax debts.
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September 19, 2025
IRS Proposes Qualifying Occupations For Tips Deduction
Nearly 70 occupations, including bartenders, food preparation workers, musicians, electricians and social media influencers, were included in the proposed list of occupations subject to President Donald Trump's policy of no tax on tips, the Internal Revenue Service said Friday.
Expert Analysis
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Adapting To Private Practice: From Fed. Prosecutor To BigLaw
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.
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Justices' False Statement Ruling Curbs Half-Truth Liability
The U.S. Supreme Court’s recent Thompson v. U.S. decision clarified that a federal statute used to prosecute false statements made to bank regulators only criminalizes outright falsehoods, narrowing prosecutors’ reach and providing defense counsel a stronger basis to challenge indictments of merely misleading statements, says Tamara de Silva at De Silva Law Offices.
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Perfecting Security Interests In Renewable Energy Tax Credits
The ability to transfer renewable energy tax credits has created new opportunities for developers, investors and lenders, but it also raises important questions regarding when and how the security interests in these credits are perfected — questions that must be answered definitively to protect credit claims and transactions, says Harry Teichman at Stinson.
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Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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Making The Opportunity Zones Program Great At Last
As the opportunity zone program approaches its expiration, the Republican-led government could take specific steps to extend and improve the program, address its structural flaws, encourage broader participation and enable it to live up to its promised outcomes, say attorneys at Pillsbury.
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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.