Federal

  • March 10, 2025

    Tax Pro Rejoins Norton Rose From Reed Smith In Houston

    Norton Rose Fulbright announced Monday that it has bulked up in the face of increased demand in the corporate transactions space with the return of a tax partner in Houston who came aboard from Reed Smith LLP.

  • March 10, 2025

    Tax Court Warns Couple Who Call Taxes Voluntary Gifts

    A Utah couple who claimed they would not make a "gift" to the U.S. Treasury Department by paying their taxes owe about $21,000 to the IRS, plus penalties, the U.S. Tax Court ruled Monday, warning them against making frivolous arguments.

  • March 10, 2025

    Hyatt's $300M Rewards Fund Not Corp. Income, 7th Circ. Told

    Hyatt told the Seventh Circuit it shouldn't have to report nearly $300 million in revenue from a rewards program fund owned by individual hotel owners, saying the U.S. Tax Court wrongly sided with the IRS in deciding the company should treat the money as its own.

  • March 09, 2025

    Short-Term Funding Bill Extends IRS Money Freeze

    The Internal Revenue Service would continue to be blocked from accessing more than $20 billion in Inflation Reduction Act funding under legislation that the House is expected to consider this week, a measure that overall would keep the government running past March 14.

  • March 07, 2025

    Bankruptcy Trust's Extension Won't Hurt Its Status, IRS Says

    A trust created to convert assets to cash and distribute them under a bankruptcy plan will still qualify as a liquidating trust if it extends its term a fifth time, so long as a bankruptcy court approves, the IRS said in a private letter ruling released Friday.

  • March 07, 2025

    NFTC Supports Broader, Elective Adoption Of Amount B

    The U.S.' proposed adoption of the OECD's approach to pricing certain cross-border transactions, known as Amount B, should go beyond just marketing and distribution activities, the National Foreign Trade Council said Friday, suggesting it be extended to services and other baseline activities.

  • March 07, 2025

    Calif. Man Must Pay $230K In FBAR Penalties After Default

    A federal court ordered a Californian accused of withholding reports of his Swiss bank accounts from the Internal Revenue Service to pay more than $230,000 after awarding the U.S. government a default judgment.

  • March 07, 2025

    Taxation With Representation: Kirkland, Wachtell, Skadden

    In this week's Taxation With Representation, Walgreens Boots Alliance goes private via a deal with Sycamore Partners, Honeywell buys Sundyne from Warburg Pincus, and Jazz Pharmaceuticals acquires Chimerix.

  • March 07, 2025

    DC Judge Declines To Block DOGE From Treasury Systems

    A D.C. federal judge on Friday declined to wall off access to the federal government's payment systems from employees of the so-called Department of Government Efficiency during a lawsuit brought by retirees and union groups, determining the alleged privacy risks were not enough to warrant the court's intervention.

  • March 07, 2025

    Immigrant Rights Groups Fight IRS Data Sharing With DHS

    Two Illinois-based immigrant and Latino rights groups filed a suit Friday seeking to block the Internal Revenue Service from disclosing the names and addresses of taxpayers with taxpayer identification numbers to the U.S. Department of Homeland Security and other agencies with the purpose of enforcing immigration laws.

  • March 07, 2025

    10th Circ. Urged To Reject Bid To Nix Microcaptive Notice

    The federal government urged the Tenth Circuit to affirm a ruling that rejected a plumbing supply company's request to invalidate an IRS notice that added reporting requirements for certain microcaptive insurance arrangements, saying the lower court correctly found the suit would illegally hinder tax collection.

  • March 07, 2025

    Goldstein Must Be Tracked Amid 'Ongoing' Crimes, Feds Say

    The federal government has doubled down on allegations that U.S. Supreme Court advocate and SCOTUSblog publisher Tom Goldstein has been secretly moving cryptocurrency, urging a federal judge to keep monitoring his electronic devices to prevent him from fleeing tax evasion charges.

  • March 07, 2025

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's weekly bulletin, issued Friday, included guidance related to alternative methods for employers to provide health insurance coverage statements to employees as part of a larger move to reduce paperwork.

  • March 06, 2025

    Feds Say 11th Circ. Should Affirm Value Of Ex-Braves' Farm

    Despite dropping a bid for civil fraud penalties this week against two former Atlanta Braves players accused of overvaluing a conservation easement donation, the federal government has told the Eleventh Circuit it still stands by a U.S. Tax Court ruling that the players' valuation of the property was "firmly planted in the realm of fantasy."

  • March 06, 2025

    Tipster Urges DC Circ. To Reverse IRS Award Denial

    A man whose claim for a whistleblower award was rejected by the U.S. Tax Court asked the D.C. Circuit to reverse and reject arguments by the IRS that the court lacked authority to make a decision on grounds the agency did not act on the tipster's information.

  • March 06, 2025

    Feds Want Foreclosure On NJ Property In $16.2M Tax Fight

    A New Jersey property owned by a man who owes $16.2 million in taxes should be foreclosed on and sold to pay his debt, the U.S. government said Thursday, arguing that a property easement no longer restricts it from a sale.

  • March 06, 2025

    Trump Gives Mexico A Break Until April From New Tariffs

    President Donald Trump announced Thursday an almost monthlong exemption for most Mexican imports to tariffs he had placed on the country over drug trafficking concerns, as Mexico President Claudia Sheinbaum pointed to data showing border seizures of fentanyl dropped 70% since she took office.

  • March 06, 2025

    Treasury Pick Pledges To Protect Privacy Of Taxpayer Data

    A former assistant secretary of the U.S. Department of the Treasury said Thursday that he would safeguard the privacy of taxpayers' data if the Senate approves his return to Treasury as its deputy secretary.

  • March 06, 2025

    IRS Can't Defend Slashing Of Easement Value, 11th Circ. Told

    Conservation easement donors whose charitable tax deduction was reduced by millions of dollars by the U.S. Tax Court criticized the Internal Revenue Service's defense of the decision, telling the Eleventh Circuit the ruling ignored copious evidence of the property's value underlying the donation's worth.

  • March 06, 2025

    Trump's Value-Added Tax Focus In Tariff Plan Stirs Angst

    President Donald Trump's call to target value-added taxes in his reciprocal tariff plan could distort global supply chains and create additional burdens for U.S. companies, contrary to his stated goals of lowering prices for consumers and boosting business, experts told Law360.

  • March 06, 2025

    Fried Frank Hires White & Case Partner For NY Office

    Fried Frank Harris Shriver & Jacobson LLP announced it appointed a longtime White & Case LLP partner to serve as senior counsel in the firm's mergers and acquisitions and private equity practices. 

  • March 06, 2025

    Tax Interest Rates To Stay Unchanged In 2nd Quarter

    The Internal Revenue Service's interest rates for overpayments and underpayments of tax will stay the same in the second quarter of 2025 after dropping to start the year, the agency said Thursday.

  • March 05, 2025

    Accused Tax Prep Hacker Faces Refund Fraud Case In Boston

    A Nigerian national accused of conspiring to use stolen taxpayer information and reaping $1.3 million in phony returns has been extradited to the United States to face charges of breaking into Massachusetts tax preparation firms' computer networks, Boston federal prosecutors said.

  • March 05, 2025

    Claimed Church Leader Ruled To Owe $1.3M In Taxes

    A claimed church leader owes $1.3 million in tax debt after he was caught selling tax avoidance schemes, a Washington federal judge ruled Wednesday, rejecting his request for more time to mount a challenge and describing him as uncooperative.

  • March 05, 2025

    NY Estate's Bid To Deduct $7M Settlement Denied By 2nd Circ.

    A New York estate's $6.5 million settlement liability cannot be deducted because the liability does not decrease the value of trust assets within the estate, nor can it be classified as a tax-deductible administrative expense from the gross estate, the Second Circuit ruled.

Expert Analysis

  • Why DOJ's Whistleblower Program May Have Limited Impact

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    The U.S. Department of Justice’s new whistleblower pilot program aims to incentivize individuals to report corporate misconduct, but the program's effectiveness may be undercut by its differences from other federal agencies’ whistleblower programs and its interplay with other DOJ policies, say attorneys at Milbank.

  • How Justices Upended The Administrative Procedure Act

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    In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.

  • Trump's Best Hush Money Appeal Options Still Likely To Fail

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    The two strongest potential arguments former President Donald Trump could raise in appealing his New York hush money conviction seem promising at first, but precedent strongly suggests they will still ultimately fail — though, of course, Trump's unique position could lead to surprising results, says former New York Supreme Court Justice Ethan Greenberg, now at Anderson Kill.

  • Tips For Tax Equity-Tax Credit Transfers That Pass IRS Muster

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    Although the Internal Revenue Service has increased its scrutiny of complex partnership structures, which must demonstrate their economic substance and business purpose, recent cases and IRS guidance together provide a reliable road map for creating legitimate tax equity structures, say Ian Boccaccio and Michael Messina at Ryan Tax.

  • Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?

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    A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.

  • 3 Leadership Practices For A More Supportive Firm Culture

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    Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.

  • E-Discovery Quarterly: Rulings On Hyperlinked Documents

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    Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.

  • Loper Bright Limits Federal Agencies' Ability To Alter Course

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    The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.

  • A Guide To Long-Term, Part-Time Employee Determinations

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    With final regulations under the Secure Act requiring 401(k) retirement benefits for long-term, part-time employees expected soon, Amy Sheridan and David Guadagnoli at Sullivan & Worcester look at how the proposed rules would shift the risk-reward calculus on excluding categories of employees, and what plan sponsors would need to consider when designing retirement plans.

  • After Chevron: Delegation Of Authority And Tax Regulators

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    The U.S. Department of the Treasury and the Internal Revenue Service will face higher standards following Loper Bright’s finding that courts should determine whether agency rules meet the best possible interpretation of the tax code, as well as the scope of the authority delegated by Congress, says Edward Froelich at McDermott.

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

  • Rock Climbing Makes Me A Better Lawyer

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    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

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