Federal
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September 18, 2026
TerrAscend Says Feds Sued Fake Co. In $8M Clawback Suit
Multistate cannabis operator TerrAscend USA Inc. asked a New Jersey federal court to throw out the federal government's suit seeking to claw back an $8 million tax refund, saying the government sued a nonexistent entity and even if it substituted the correct one, the suit still wouldn't belong in New Jersey.
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September 18, 2026
IRS Updates Corp. Bond Monthly Yield Curve For September
The IRS updated the corporate bond monthly yield curve used in calculations for defined benefit plans for September on Thursday as well as corresponding segment rates and the interest rate for 30-year U.S. Treasury Department securities.
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September 18, 2026
IRS Floats Tax Return Form With Question About Citizenship
The Internal Revenue Service released a draft version of the Form 1040 individual tax return that for the first time would include a question about the filer's citizenship status.
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September 18, 2026
Weekly Internal Revenue Bulletin
The Internal Revenue Service's weekly bulletin, released Friday, included a proposal to revoke federal tax exemptions for as many as 18,000 private schools that enact racially based diversity and inclusion policies.
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September 17, 2026
Firm Partners Can't Get Employment Tax Break, 2nd Circ. Says
The Second Circuit held Thursday that $141.5 million in partnership income distributed to an investment company's principals was subject to self-employment taxes, following the Fifth Circuit's narrow interpretation for determining eligibility for a self-employment tax exemption for limited partners.
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September 17, 2026
IRS Defends Regs In Meta's Fight Against $16B Tax Bill
The IRS urged the U.S. Tax Court to validate regulations that Facebook parent Meta is challenging in its fight against a nearly $16 billion tax bill, arguing that the social media giant is recycling arguments the Ninth Circuit already rejected.
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September 17, 2026
IRS Properly Nixed Whistleblower's Award Bid, Tax Court Says
The IRS didn't abuse its discretion in denying a whistleblower's bid for an award for information regarding alleged underpayments by a large multinational corporation, the U.S. Tax Court ruled Thursday, upholding the agency's determination that it had already identified the key issues for its investigation.
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September 17, 2026
IRS OK To Target Tax Preparer Over Old Fraudulent Filings
The Internal Revenue Service adequately proved that a Maryland tax preparer fraudulently underreported her income for three years, the U.S. Tax Court said Thursday, finding she can be held liable for deficiencies and penalties despite the returns being filed over a decade ago.
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September 17, 2026
Judge Nixes Workers' Bid To Halt IRS Withholding Rules
A Texas federal judge dismissed two workers' claims that the Internal Revenue Service's income tax withholding regulations resulted in employers overdeducting taxes from their employees' paychecks, finding that federal law bars the workers' bid to prevent tax collection.
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September 16, 2026
House Clears Russia Sanctions Bill With New Tariff Powers
The U.S. House of Representatives approved legislation Wednesday that would enhance President Donald Trump's economic tools to pressure Russia and Iran, including new tariff authorities to impose duties on imports from countries found to economically support Russia, sending the bill to his desk.
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September 16, 2026
Union Says IRS Must Stop Blocking It From Emailing Workers
A D.C. federal judge should order the Internal Revenue Service to resume allowing its workers to access their union's website and letting the union send emails to workers, the union argued, saying the IRS' decision to block the National Treasury Employees Union's domain from its computers is unconstitutional.
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September 16, 2026
House Panel Advances Digital Asset Tax Framework
Congress would create parity between the tax treatment of digital assets and traditional financial assets, as well as institute safeguards against abuse, under a bipartisan digital asset tax framework package passed by the House Ways and Means Committee on Wednesday.
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September 16, 2026
Tax Court Backs Penalties For 'Quintessential Tax Protester'
A Tennessee man who founded several companies is liable for tax deficiencies, additions and penalties, the U.S. Tax Court said Wednesday, noting it described him as a "quintessential tax protester" in a previous case and warned he could face penalties if he continued to pursue "frivolous" arguments.
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September 16, 2026
Tax Court Validates $4M Tax Shelter Penalty Against Ill. Man
The IRS appropriately assessed a penalty of almost $4.4 million against an Illinois man the agency said was a tax shelter organizer, the U.S. Tax Court ruled Wednesday, rejecting his claim that the assessment wasn't valid because the agency failed to include a computation with the penalty notice.
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September 16, 2026
10th Circ. Mulls Audit Law In $16M Buy.com Founder Tax Suit
A Tenth Circuit panel grappled with whether a statutory auditing regime for partnerships allowed the founder of now-defunct Buy.com to challenge the validity of an audit extension agreement with the IRS during his personal tax proceedings.
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September 16, 2026
Perrigo Shifted $212M In Profits To Shell Co., US Tells 6th Circ.
A Michigan court errantly allowed pharmaceutical giant Perrigo to avoid taxes on $212 million in profits by assigning a lucrative contract to a shell company that played no economic role in fulfilling its terms, the government told the Sixth Circuit.
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September 16, 2026
11th Circ. Asked To Overturn $184K ACA Employer Penalty
A commercial laundry services company asked the Eleventh Circuit to reverse a Florida federal court's ruling that upheld a $184,000 payment to the IRS under the Affordable Care Act's employer shared responsibility provisions, saying it didn't receive notice of the penalty soon enough to lodge an effective appeal.
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September 15, 2026
House OKs Hostage Tax Relief, Penalties On Ghost Preparers
The U.S. House approved proposals Tuesday that included extending tax deadlines for hostages and their spouses and expanding penalties for what are commonly known as ghost preparers as it passed four Ways and Means Committee bills.
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September 15, 2026
Fla. Judge Won't Pause Trump-IRS Settlement Sanctions
The Florida federal judge who barred President Donald Trump and others from citing a settlement resolving what she characterized as a sham $10 billion case against his own Internal Revenue Service won't pause her sanctions order while the president appeals to the Eleventh Circuit.
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September 15, 2026
Dem Presses IRS, Tax Court Noms On Unanswered Queries
The Senate Finance Committee's top Democrat pressed President Donald Trump's pick for chief counsel Tuesday over his refusal to release his client list and questioned why the president's pick for a U.S. Tax Court judgeship would not answer vetting questions.
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September 15, 2026
Attorney Escapes $12M Unlawful Tax Strategy Suit In Colo.
An attorney won't face claims from a precious metals partnership and its members accusing her of advocating an unlawful tax strategy after a Colorado federal judge Tuesday granted the attorney's motion to dismiss the $12 million suit.
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September 15, 2026
IRS Extends Tax Relief For Drought-Affected Farmers
The Internal Revenue Service is extending tax relief for farmers and ranchers in response to prolonged drought conditions that are affecting U.S. farmers and ranchers.
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September 15, 2026
OnlyFans Freelancer Admits To Dodging Tax On $3M Income
A woman who created content for the OnlyFans website pled guilty Tuesday to dodging taxes on more than $3 million in income from photographs and videos she posted for tax years 2019 through 2022, the U.S. Attorney's Office for the District of Connecticut said.
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September 15, 2026
Next Tariff Refund Phase To Deploy Next Month, CBP Says
U.S. Customs and Border Protection's next phase for its system administering tariff refunds for duties struck down by the U.S. Supreme Court will deploy Oct. 6, according to a declaration filed Tuesday in the U.S. Court of International Trade.
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September 15, 2026
Tax Court Can't Override Insurance Regulators, 5th Circ. Told
The U.S. Tax Court incorrectly overstepped state insurance regulators in holding that an ophthalmology practice's microcaptive insurance arrangements lacked economic substance, an eye doctor and his wife told the Fifth Circuit in asking for a reversal of the ruling.
Expert Analysis
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.