Federal

  • May 17, 2024

    Home Distillers Tell Feds Ban Fails Under Spirit Of The Law

    The Hobby Distillers Association said the federal government is exceeding its constitutional powers and treading on states' rights by banning homemade liquor under its taxing authority, as the group laid out its position Friday at the request of a Texas federal judge.

  • May 17, 2024

    Michigan Doctor Seeks Release From Contempt In FBAR Fight

    A Michigan doctor incarcerated for civil contempt in a case in which he was ordered to repay more than $1 million in penalties for failure to report foreign accounts should be freed because he can no longer satisfy the terms of his release, he told a Michigan federal court.

  • May 17, 2024

    Koch-Tied Group Says Transparency Law Offends Federalism

    The Corporate Transparency Act is unconstitutional because it does not regulate interstate commerce yet mandates that state-registered entities disclose personal information, a conservative group affiliated with the billionaire Koch brothers told the Eleventh Circuit on Friday.

  • May 17, 2024

    Feds Want Prison For Kiosk Salesman Who Faked Deductions

    An electronic-sweepstakes kiosk salesman from Chicago should spend more than two years in prison for submitting false tax returns that fabricated more than $400,000 in business expenses and more than $60,000 in church donations, federal prosecutors told an Illinois federal court.

  • May 17, 2024

    New Domestic Content Guidance May Boost Energy Credits

    The U.S. Treasury Department's new guidance on bonus tax credits for clean energy projects that source domestic-made materials and components aims to simplify the process for determining eligibility and spur more development to get those extra incentives.

  • May 17, 2024

    Funding Uncertainty Hasn't Affected Plans, IRS Official Says

    Political uncertainty about the Internal Revenue Service's future funding hasn't affected the agency's operations planning, the agency's deputy commissioner said Friday at a Tax Council Policy Institute conference in Washington, D.C.

  • May 17, 2024

    Transfer Pricing Deal Needed For Pillar 1, OECD Official Says

    It's crucial for countries to agree on transfer pricing policies under an international profit reallocation agreement known as Pillar One as they work toward their end-of-June deadline to sign a related multilateral treaty, an OECD official said Friday.

  • May 17, 2024

    Judge Sets Hearing For Delay In Hunter Biden's Tax Trial

    A California federal judge agreed Friday to consider Hunter Biden's request to push back his $1.4 million criminal tax trial, setting a hearing to address his claim that the dates interfere with his Delaware gun trial and threaten to prevent him from getting a fair shake.

  • May 17, 2024

    Taxation With Representation: Wachtell Lipton, Freshfields

    In this week's Taxation with Representation, Nippon Life acquires Corebridge Financial, Crescent Energy buys SilverBow Resources and Uber purchases Foodpanda.

  • May 17, 2024

    Virgin Islands Silent 2 Years On $1.1M Tax Refund, Court Told

    A man living on the island of St. Thomas claims he requested a tax refund of more than $1.1 million from the U.S. Virgin Islands Bureau of Internal Revenue more than two years ago and still hasn't heard back, according to a complaint in federal court.

  • May 16, 2024

    Pillar 1 Faces Hard June Deadline, Ex-Treasury Official Says

    An international agreement to reallocate certain corporate profits, known as Pillar One, will likely stall if countries miss their deadline to sign a multilateral treaty by the end of June, a former U.S. Treasury official said Thursday.

  • May 16, 2024

    Hubby Liable For Ex-Co. President's $40M Bill, Tax Court Says

    The husband of a former president of InfoSpace can be held jointly liable for a nearly $40 million tax debt the IRS asserted against a return they filed for the 2000 tax year, the U.S. Tax Court ruled Thursday, saying he didn't qualify for so-called innocent spouse relief.

  • May 16, 2024

    P&G Exec Says FDII Uncertainty May Sway Cos.' IP Decisions

    The 2017 tax overhaul's measure for foreign-derived intangible income, a regime that gives tax breaks for domestically held intellectual property, faces uncertainty that could be one factor in keeping some companies from repatriating IP, a tax executive for Procter & Gamble said Thursday.

  • May 16, 2024

    Democrats Prod Justice Thomas on RV Loan, Tax Treatment

    Two Senate Democrats have asked U.S. Supreme Court Justice Clarence Thomas' attorney to respond to what they called a failure to answer their questions about the justice's $267,000 loan from a healthcare industry executive to finance a luxury recreational vehicle, saying the loan treatment could have violated federal tax laws.

  • May 16, 2024

    Eaton Must Give Up Personnel Docs In Transfer Pricing Probe

    Eaton must comply with an Internal Revenue Service summons for the personnel records of its foreign employees in the government's transfer pricing investigation of the multinational power management company, an Ohio federal judge ruled Thursday.

  • May 16, 2024

    House Dems Seek Vote On Disaster Tax Relief Bill

    Two Democrats on the House of Representatives' Ways and Means Committee requested a vote Thursday on legislation that would exclude disaster relief payments from a taxpayer's gross income.

  • May 16, 2024

    TCJA Renewal Tied To Fate Of Senate Bill, Finance Chair Says

    If Senate lawmakers can't pass a bipartisan House bill extending three business provisions and expanding a child tax credit, the hope of a larger deal to renew the 2017 GOP tax overhaul next year seems unlikely, the chair of the Senate Finance Committee said Thursday.

  • May 16, 2024

    House Ways And Means To Discuss Rust Belt Economy

    The House of Representatives' Ways and Means Committee will meet to discuss economic opportunities in the Rust Belt region May 20, the committee said Thursday.

  • May 16, 2024

    Firm Seeks To Force IRS To Process Worker Retention Credits

    A tax advisory firm helping businesses apply for the pandemic-era employee retention credit has asked an Arizona federal court to force the IRS to resume processing claims, saying the moratorium in place since September violates the Administrative Procedure Act.

  • May 16, 2024

    Ex-Minn. Public Defender Gets Probation For Tax Fraud

    A former Minneapolis chief public defender who argued that he should receive a lenient sentence after resigning in disgrace amid accusations that he failed to pay taxes for years on his private law firm was sentenced to three years probation by a Minnesota federal court.

  • May 16, 2024

    No Relief For Struggling SPACs Under Buyback Tax Proposal

    Special-purpose acquisition companies won't get sought-after relief from a new 1% tax on stock buybacks under a recent Treasury Department proposal that otherwise provides helpful clarity on the tax's implications for the subdued SPAC market, lawyers say.

  • May 16, 2024

    IRS Postpones Tax Due Dates In Ohio After Tornadoes

    Some Ohio taxpayers will be given until September to file tax returns and make payments because of tornadoes that hit the state in March, the Internal Revenue Service said Thursday.

  • May 16, 2024

    Biden Admin Proposes To Loosen Restrictions On Marijuana

    President Joe Biden on Thursday announced that his administration has formally recommended relaxing restrictions on marijuana, marking the most significant federal policy shift on cannabis since the drug was criminalized more than 50 years ago.

  • May 16, 2024

    US Must Produce Emails Between IRS Managers, Docs Leaker

    The government must produce emails between Internal Revenue Service managers and a former contractor who leaked thousands of wealthy people's tax returns, a Florida federal judge has ordered, saying the materials are relevant to a billionaire's case accusing the agency of responsibility for the leak.

  • May 16, 2024

    IRS Cancels Hearing On Direct Pay Partnership Tax Rules

    The Internal Revenue Service canceled a planned public hearing on proposed regulations that would allow certain unincorporated organizations to be excluded from the partnership tax rules for direct payments of green energy tax credits.

Expert Analysis

  • Unpacking The Bill To Extend TCJA's Biz-Friendly Tax Breaks

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    Attorneys at Skadden examine how a bipartisan bill currently being considered by the U.S. Senate to save the Tax Cuts and Jobs Act's tax breaks for research and development costs, and other expiring business-friendly provisions, would affect taxpayers.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • IRS Sings New Tune: Whistleblower Form Update Is Welcome

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    In a significant reform at the Internal Revenue Service's Whistleblower Office, the recently introduced revisions to the Form 211 whistleblower award application use new technology and a more intuitive approach to streamline the process of reporting allegations of tax fraud committed by wealthy individuals and companies, says Benjamin Calitri at Kohn Kohn.

  • This Earth Day, Consider How Your Firm Can Go Greener

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    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • Energy Community Tax Credit Boost Will Benefit Wind Sector

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    Recent Internal Revenue Service guidance broadening tax credit eligibility to more parts of offshore wind facilities in so-called energy communities is a win for the industry, which stands to see more projects qualify for a particularly valuable bonus in the investment tax credit context due to the capital-intensive nature of offshore wind projects, say attorneys at Troutman Pepper.

  • Weisselberg's Perjury At Trial Spotlights Atty Ethics Issues

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    Former Trump Organization executive Allen Weisselberg’s recent guilty plea for perjury in the New York attorney general's civil fraud trial should serve as a reminder to attorneys of their ethical duties when they know a client has lied or plans to lie in court, and the potential penalties for not fulfilling those obligations, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Why Supreme Court Should Allow Repatriation Tax To Stand

    If the U.S. Supreme Court doesn't reject the taxpayers' misguided claims in Moore v. U.S. that the mandatory repatriation tax is unconstitutional, it could wreak havoc on our system of taxation and result in a catastrophic loss of revenue for the government, say Christina Mason and Theresa Balducci at Herrick Feinstein.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law

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    A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.

  • Requiring Leave To File Amicus Briefs Is A Bad Idea

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    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.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    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.

  • How IRA Unlocks Green Energy Investments For Tribes

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    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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