Federal
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February 12, 2025
Berger Singerman Adds Carlton Fields Tax Pro In Miami
Florida business law firm Berger Singerman has added a new partner to its business, finance and tax team in Miami from Carlton Fields.
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February 12, 2025
Ex-Ill. Speaker Madigan Guilty Of Bribery In Mixed Verdict
A federal jury on Wednesday partially convicted the man who was once the most powerful politician in Illinois on federal corruption charges, finding former Illinois House Speaker Michael Madigan guilty of bribery conspiracy and wire fraud but deadlocking on the government's overarching racketeering charge.
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February 12, 2025
IRS Updates Depreciation Deductions For Certain Vehicles
Certain vehicles placed in service in 2025 will be eligible for an additional depreciation deduction of up to $20,200 for the first tax year, the Internal Revenue Service said Wednesday.
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February 11, 2025
Rodney King's Former Atty Gets Prison For $7M Tax Evasion
A Los Angeles criminal defense and civil rights attorney who once represented Rodney King was sentenced by a California federal court Tuesday to 1½ years in prison for evading $7.2 million worth of taxes on income from his law practice.
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February 11, 2025
Trump's Tariffs, GOP Tax Goals Pose Political Puzzle
President Donald Trump's use of wholesale tariffs may generate trillions of dollars across a 10-year budget window, but the economic uncertainty associated with the U.S.'s aggressive trade posture could politically harm Republicans' must-have efforts to shepherd a tax bill into law this year, experts say.
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February 11, 2025
House Panelists Push For IRS Funding, Tech Upgrade
The Internal Revenue Service is still underfunded and needs to prioritize using any additional funding it receives to boost its taxpayer services and technology modernization, panelists told a House Ways and Means subcommittee Tuesday.
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February 11, 2025
Tax Court Orders Penalties For $90M In Disallowed Deductions
A group of four North Carolina partnerships that were denied a total of $90 million in tax deductions for donations of conservation easements must pay valuation and accuracy-related penalties under a U.S. Tax Court ruling Tuesday.
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February 11, 2025
FBAR Default Vacated To Give Widow Another Chance
A New York federal court agreed with a magistrate's recommendation to vacate a default judgment against a widow, giving her another chance to defend her husband's estate against the government's $275,000 claim that he failed to report his Indian bank account.
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February 11, 2025
Holland & Knight Adds Ballard Spahr Litigator In Philly
A former U.S. attorney with expertise on anti-money laundering and complex tax matters recently moved his litigation practice to Holland & Knight after nine years with Ballard Spahr LLP.
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February 11, 2025
EU Leaders Poised For 'Proportionate' Response To US Tariffs
European Union officials criticized President Donald Trump's decision to impose an across-the-board 25% tariff on all imported steel and aluminum, with European Commission President Ursula von der Leyen on Tuesday signaling "firm and proportionate countermeasures."
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February 11, 2025
Commerce Powers Key In Battle Over Corp. Transparency Law
The question of whether Congress exceeded its powers to regulate commerce by enacting the Corporate Transparency Act is likely to feature in a potential U.S. Supreme Court resolution to around a dozen challenges to the law that are percolating through the courts.
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February 11, 2025
Partaking In $1.3B Easement Fraud Lands CPA 2 Years
A Florida accountant who illegally sold tax deductions to his clients in the form of conservation easements and conspired with others convicted in a $1.3 billion fraud scheme was sentenced to two years in prison by a New Jersey federal judge.
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February 07, 2025
DOGE Access To Treasury Payment System Blocked By Judge
A Manhattan federal judge blocked the access of Elon Musk and staffers of his temporary Department of Government Efficiency to U.S. Department of the Treasury payment systems Saturday and ordered them to destroy data already obtained, after state attorneys general sued, calling that access "dangerous" and unlawful.
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February 10, 2025
Pension Execs Found Liable In $2B Danish Tax Fraud Case
A New York federal jury found Monday by "clear and convincing evidence" that Denmark's tax agency reasonably relied on the false statements made on pension plan applications that were part of a $2.1 billion tax fraud scheme by pension plan executives.
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February 10, 2025
5th Circ. Urged To Reject Crypto Exec's Privacy Law Claim
The IRS complied with a financial privacy law to summon third-party bank records belonging to a cryptocurrency executive under investigation, the U.S. government told the Fifth Circuit on Monday in the businessman's appeal to overturn a lower court decision that rejected his bid to quash the summonses.
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February 10, 2025
Trump Sets Across-The-Board 25% Tariff On Steel And Aluminum
President Donald Trump teed up a 25% tariff on all imported steel and aluminum Monday evening, continuing a trend of sweeping, aggressive trade actions that have defined his first three weeks in office.
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February 10, 2025
Tax-Crime Suspect's Bond Revoked After Additional Charges
A man accused of promoting abusive tax shelters was ordered to prison Monday by a Colorado federal judge who said she believed he may have committed additional crimes in connection with a multimillion-dollar fraudulent investment fund while awaiting trial.
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February 10, 2025
Trump Buyout Plan Still On Hold As Unions Cite 'Confusion'
A Boston federal judge on Monday extended his hold on President Donald Trump's federal worker buyout program as he weighs a request from unions to block the so-called Fork Directive, which promises months of pay to government employees who resign their posts.
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February 10, 2025
Tax Court Judge Protections Challenged In 11th Circ.
The federal government oversimplified a U.S. Supreme Court ruling to argue against granting a request to review job protections for U.S. Tax Court judges, the owners of an electronic parts company told the Eleventh Circuit in seeking the reversal of a tax penalty.
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February 10, 2025
Goldstein Rearrested After Feds Say He Hid Millions In Crypto
U.S. Supreme Court lawyer and SCOTUSblog publisher Tom Goldstein was arrested again Monday following his earlier release on criminal tax evasion charges, after prosecutors alleged that he secretly made millions of dollars worth of cryptocurrency transactions in recent days and was a serious risk to flee.
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February 10, 2025
Skadden Adds Designer Of Tax Cut Act's Int'l Provisions In DC
Skadden Arps Slate Meagher & Flom LLP announced Monday it has hired a tax attorney who helped create some international provisions in the Tax Cuts and Jobs Act of 2017, and who joins the firm as House Republicans signal they'll vote to renew some measures of that bill that are set to expire.
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February 10, 2025
Pillsbury Recruits Former Mayer Brown Tax Pro In NY
Pillsbury Winthrop Shaw Pittman LLP said it has recruited a former Mayer Brown LLP tax expert to serve as a partner in Pillsbury's New York office.
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February 07, 2025
Feds Defend Corporate Transparency Act In 5th And 4th Circuits
The U.S. government defended the Corporate Transparency Act in the Fifth and Fourth Circuits on Friday, urging the former to reverse a Texas federal judge's nationwide injunction on the law and the latter to affirm a Virginia federal judge's rejection of a bid to block the law's enforcement.
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February 07, 2025
Wyden Demands Clarification On DOGE's Treasury Access
Senate Finance Committee ranking member Ron Wyden questioned Friday whether U.S. Treasury Department lawyers were misleading and evasive when they said members of Elon Musk's U.S. DOGE Service Temporary Organization were granted only "read-only" access to the department's payment systems.
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February 07, 2025
Ex-Mass. State Sen. Gets 18 Months For Pandemic, Tax Fraud
A former Massachusetts state senator was sentenced to 18 months in prison Friday after being convicted of fraudulently collecting pandemic unemployment benefits and failing to report consulting income he was also earning at the time on his tax returns.
Expert Analysis
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Requiring Leave To File Amicus Briefs Is A Bad Idea
A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.
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4 Ways To Motivate Junior Attorneys To Bring Their Best
As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.
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How IRA Unlocks Green Energy Investments For Tribes
An Inflation Reduction Act provision going into effect May 10 represents a critical juncture for Native American tribes, offering promising economic opportunity in green energy investment, but requiring a proactive and informed approach when taking advantage of newly available tax incentives, say attorneys at Lewis Brisbois.
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Former Minn. Chief Justice Instructs On Writing Better Briefs
Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.
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What To Know About IRS' New Jet Use Audit Campaign
The Internal Revenue Service recently announced plans to open several dozen audits scrutinizing executive use of company jets, so companies should be prepared to show the business reasons for travel, and how items like imputed income and deduction disallowance were calculated, say attorneys at Morgan Lewis.
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Stay Interviews Are Key To Retaining Legal Talent
Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.
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Judicial Independence Is Imperative This Election Year
As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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What Recent Study Shows About AI's Promise For Legal Tasks
Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.
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How FinCEN Proposal Expands RE Transaction Obligations
Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.
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What To Know About Employee Retention Credit Disclosures
Employers that filed potentially erroneous employee retention credit claims should take certain steps to determine whether the IRS’ voluntary disclosure program is a good fit and, if so, prepare a strong application before the window closes on March 22, say attorneys at Dentons.
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Litigation Inspiration: A Source Of Untapped Fulfillment
As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.
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Unpacking FinCEN's Proposed Real Estate Transaction Rule
Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.