Federal

  • June 13, 2025

    Taxation With Representation: Debevoise, Latham, Paul Weiss

    In this week's Taxation With Representation, Brown & Brown Inc. buys Accession Risk Management Group Inc., Allison Transmission Holdings Inc. acquires Dana Inc.'s off-highway unit, Qualcomm Inc. buys Alphawave IP, and Warner Bros. Discovery announced it will split into two publicly traded companies.

  • June 13, 2025

    IRS Issues Corp. Bond Monthly Yield Curve For June

    The IRS published the corporate bond monthly yield curve Friday used in calculations for defined benefit plans for June, as well as corresponding segment rates and other related provisions.

  • June 13, 2025

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's weekly bulletin, issued Friday, featured announcements including that of a competent authorities arrangement with Denmark.

  • June 13, 2025

    Fed. Tax Bill Primed To Reignite Conformity Talks In States

    The federal budget reconciliation bill's tax proposals, including extensions of certain elements of President Donald Trump's signature 2017 tax plan, are primed to rekindle debates among state lawmakers over how states should conform to the federal code.

  • June 12, 2025

    Dallas Developer Cleared Of Bribery Charges In Retrial

    A Dallas jury cleared a real estate executive charged with attempting to bribe city council members in exchange for federal low income housing credits, finding the executive not guilty Thursday after the Fifth Circuit threw out his guilty verdict and ordered a retrial.

  • June 12, 2025

    GOP Tax Bill Penalizes Professionals, CPA Group Says

    The One Big Beautiful Bill Act passed by House Republicans penalizes accountants and other professionals and would unfairly eliminate a state and local tax deduction for certain pass-through entities, a national group of certified public accountants said Thursday.

  • June 12, 2025

    Spouse Had No Idea About Ex's Income, Tax Court Determines

    A North Carolina woman who prepared joint tax returns for her and her now-ex husband had no idea of the multiple sources of unreported income paid to her former spouse, the U.S. Tax Court ruled Thursday, granting her innocent spouse relief from his tax liability.

  • June 12, 2025

    Senate Confirms Former US Rep To Take IRS Helm

    The Senate confirmed President Donald Trump's nomination of former U.S. Rep. Billy Long to be Internal Revenue Service commissioner Thursday, clearing the path for him to begin a term that will end in November 2027.

  • June 12, 2025

    Bessent, Senate GOP Insist TCJA Extension Won't Hike Deficit

    Senate Finance Committee Republicans and U.S. Treasury Secretary Scott Bessent maintained Thursday that making permanent the expiring tax provisions in the 2017 tax overhaul would not raise the federal budget deficit, despite projections to the contrary.

  • June 12, 2025

    China Agrees To Loosen Rare Earth Restrictions, US Says

    Chinese trade negotiators have agreed to lift export controls on rare-earth elements in exchange for the U.S. walking back a campaign to revoke visas for Chinese students, according to statements by U.S. officials, which experts said leave key issues unresolved.

  • June 12, 2025

    Avenatti Sheds 3 Years After 9th Circ. Orders Resentencing

    A California federal judge on Thursday resentenced disbarred attorney Michael Avenatti to just over 11 years in federal prison for filching millions of dollars from his clients' settlement funds, reducing a 14-year sentence overturned by the Ninth Circuit and leaving Avenatti with about eight years left after time served.

  • June 12, 2025

    IRS Extends Deadline To Comply With Digital Asset Rules

    Brokers of digital assets such as cryptocurrency and nonfungible tokens will have another year to comply with new tax reporting requirements before facing penalties, the Internal Revenue Service said Thursday in extending transition relief to the sale of digital assets through 2026.

  • June 12, 2025

    Biz Owner Who Faked Tax Docs Gets 4 Years For COVID Fraud

    A business owner who used fabricated tax forms to secure $1 million in pandemic relief loans was sentenced to nearly four years in prison by a Colorado federal court after admitting one of the companies was inoperative and had no employees.

  • June 12, 2025

    Justices Reverse IRS Loss In Tax Collection Suit

    The U.S. Supreme Court ruled Thursday that the U.S. Tax Court did not have jurisdiction to review a New Jersey woman's collection dispute with the Internal Revenue Service after the agency stopped going after her unpaid taxes, reversing an earlier IRS loss.

  • June 11, 2025

    Ex-NASCAR Owner Pleads Guilty To Dodging Payroll Taxes

    A former NASCAR team owner appeared in North Carolina federal court Wednesday to enter a guilty plea for his failure to pay payroll taxes, according to a U.S. Department of Justice statement.

  • June 11, 2025

    Russia Must Face $5B Yukos Award Suit, DC Judge Rules

    At D.C. federal judge on Wednesday denied Russia's bid to nix litigation filed by the financing arm of Yukos Oil Co. to enforce a nearly $5 billion arbitral award, saying the Kremlin's jurisdictional objections fell short.

  • June 11, 2025

    US Consultant In France Must Pay $2M In FBAR Penalties

    An American energy consultant residing in France must pay more than $2 million in penalties for purposely not disclosing foreign bank accounts that held more than $3 million, as opposed to the under $30,000 initially reported, a D.C. federal court ruled.

  • June 11, 2025

    IRS Must Improve Online Taxpayer Identification, GAO Says

    The Internal Revenue Service needs to enhance its oversight of the outside vendor it uses to verify taxpayer identities when users log in to file their returns or access online resources, the Government Accountability Office said Wednesday.

  • June 11, 2025

    Treasury Secretary Defends IRS Cuts, $3.8T Budget Bill

    U.S. Treasury Secretary Scott Bessent told House lawmakers Wednesday that cutting IRS funding would strengthen the agency while the GOP's $3.8 trillion One Big Beautiful Bill Act would boost working-class living standards and spark a fresh wave of economic growth.

  • June 11, 2025

    Senate Dems' Bill Would Bar GILTI For 'Round-Tripped' Income

    Income that is "round-tripped" to obtain tax advantages would become ineligible for the half-off corporate tax rate under the global intangible low-taxed income regime, based on a bill introduced Wednesday by Sen. Ron Wyden, D-Ore., and three other Senate Democrats.

  • June 11, 2025

    Trump Pick For IRS Chief Clears Key Senate Hurdle

    President Donald Trump's nominee to serve as commissioner of the Internal Revenue Service survived a key procedural vote Wednesday in the Senate, setting the stage for the chamber to proceed with a final vote on his confirmation.

  • June 10, 2025

    Vertex Says Tax Software Rival Purposely Destroyed Evidence

    Tax compliance software company Vertex Inc. told a Pennsylvania federal judge Monday that Avalara intentionally destroyed and failed to preserve "key sources of electronically stored information crucially relevant" to Vertex's lawsuit accusing its rival of poaching workers to steal trade secrets.

  • June 10, 2025

    GOP Senators Vow To Maintain No Tax On Tips In Budget Bill

    Senate Republicans said Tuesday they are likely to preserve the House's provisions that exempt tips from taxation and honor other campaign tax promises of President Donald Trump in the chamber's version of the budget bill.

  • June 10, 2025

    LA Real Estate Agent Admits Obstructing IRS

    A Los Angeles commercial real estate broker pled guilty to obstructing the Internal Revenue Service's attempts to collect thousands of dollars in unpaid taxes by willfully hiding his income and assets from the agency, the U.S. Department of Justice announced Tuesday.

  • June 10, 2025

    Fed. Circ. Keeps Trump Tariffs In Place, Fast-Tracks Appeal

    The Federal Circuit on Tuesday granted the federal government's bid to keep President Donald Trump's global tariffs in place while it appeals a U.S. Court of International Trade order striking them down on the grounds that they exceeded the president's authority.

Expert Analysis

  • 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.

  • Lawyers With Disabilities Are Seeking Equity, Not Pity

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    Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.

  • Judicial Committee Best Venue For Litigation Funding Rules

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    The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.

  • The Strategic Advantages Of Appointing A Law Firm CEO

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    The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.

  • Tariffs' Economic Downsides Outweigh Potential Revenue

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    Import tariffs proposed by the campaign of former president Donald Trump would generate revenue like other taxes, but policymakers must consider the net-negative impact of associated consumer and downstream-industry costs, harm to exporters, potential foreign retaliation and reduction in economic output, says Erica York at the Tax Foundation.

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