Federal
-
August 07, 2025
Siemens Contests Nix Of $315M Foreign-Dividend Tax Break
Regulatory missteps caused the IRS to wrongly slash $315 million from a foreign-dividend tax deduction Siemens claimed on shareholder payments it received from an overseas affiliate, the medical giant told the U.S. Tax Court.
-
August 07, 2025
Man Pleads Guilty To Tax Evasion, Faces $50M In Restitution
A man accused of numerous financial crimes related to his operation of promoting abusive and illegal tax shelters pled guilty to three charges across two different cases in Colorado federal court on Thursday.
-
August 07, 2025
Hodgson Russ Adds Former NY Tax Pros To SALT Group
Hodgson Russ LLP has announced that two former New York state and city tax professionals have joined the firm's state and local tax practice in New York City, advising the team on complex regional tax issues.
-
August 07, 2025
No Changes To Tax Forms Yet After Budget Bill, IRS Says
Withholding tables and information returns for the current tax year as related to the federal budget bill will remain unchanged, the Internal Revenue Service announced Thursday, saying it wants to avoid disruptions to tax filing season.
-
August 07, 2025
Trump Greenlights Private Equity, Crypto 401(k) Investing
President Donald Trump signed an executive order Thursday that aims to make it easier for retirement plans to invest in a wider range of assets, including cryptocurrency, private equity and real estate.
-
August 07, 2025
Vanguard, Investors Agree To Settle After Axed $40M Tax Deal
Vanguard and investors have reached a second deal in a suit over allegations of surprise tax bills from a fund restructuring after a Pennsylvania federal judge scrapped a previous settlement in which the class would have fetched $40 million, the parties said Thursday.
-
August 07, 2025
Fed. Circ. Skeptical Of Realty Co.'s IRS Contract Dispute
Federal Circuit judges seemed skeptical Thursday of a realty company's claim that the IRS improperly blocked its bid to continue leasing office space to the agency after IRS employees complained about the building, with one judge challenging whether evidence actually showed the agency acted in bad faith.
-
August 07, 2025
German Carmakers Press EU To Secure Tariff Relief Quickly
A German automaker association urged the European Union to finalize its trade deal with the U.S. to relieve the car manufacturing industry of the pressure of tariffs.
-
August 06, 2025
Under Pressure, Higher Ed Leans On Real Estate
As institutions of higher education contend with declining enrollment and federal funding cuts, some are finding creative ways to monetize their real estate, which comes with important legal considerations, according to attorneys.
-
August 06, 2025
Ex-Homeowners Seek OK On Tax Foreclosure Suit Deal
A proposed class of former property owners asked a Michigan federal judge Tuesday to give initial support to a settlement with several counties that would allow the ex-homeowners to receive the surplus profits they allege the county treasurers made selling their tax-delinquent properties.
-
August 06, 2025
No IRS Error In Lien Against Lawyer, Tax Court Says
The IRS' appeals office did nothing wrong in sustaining a tax lien against an attorney who asked for other ways of paying what the agency said was her $43,000 tax debt, the U.S. Tax Court ruled Wednesday, saying the lawyer was offered lower payment options.
-
August 06, 2025
Troutman Adds Former Fannie Mae Associate GC In DC
The former associate general counsel at the Federal National Mortgage Association, who spent the past decade as a tax partner with Morris Manning & Martin LLP, has joined Troutman Pepper Locke LLP in the nation's capital, the firm announced Wednesday.
-
August 06, 2025
G7's Tax Carveout For US Cos. Raises EU State Aid Questions
The Group of Seven nations' deal to exclude U.S. companies from Pillar Two minimum tax rules would give those companies a competitive advantage, experts say, prompting questions about the carveout's compatibility with EU state aid rules and whether a viable path exists to challenge the deal.
-
August 06, 2025
3 Key Foreign Entity Issues In Claiming Clean Energy Credits
Stricter foreign supply chain and business ownership rules were tacked onto clean energy tax credits that weren't eliminated under the new budget reconciliation law, raising major compliance hurdles that have practitioners eagerly awaiting implementation rules from the U.S. Treasury Department. Here, À¶Ý®ÊÓÆµ outlines key issues the agencies need to address in coming guidance on restrictions targeting projects linked to foreign entities of concern.
-
August 06, 2025
DOJ Says $47M Fat Brands Tax Case Not A Priority
The U.S. Department of Justice quit prosecuting Fat Brands and its founder on charges of helping hide $47 million from the IRS because of guidance from DOJ leaders that emphasized other priorities, including enforcement against cartels, the department told a California federal court.
-
August 05, 2025
GAO Denies Co.'s Protest Of $49M IRS Task Order
The U.S. Government Accountability Office denied a Virginia company's protest of a $49 million task order issued by the U.S. Department of the Treasury for information technology services support, saying it was not competitively prejudiced during the procurement process.
-
August 05, 2025
AICPA Pushes For Guidance On Renewed R&D Tax Break
The U.S. Department of the Treasury needs to issue guidance immediately allowing taxpayers to deduct research and development costs incurred in 2024 on their originally filed federal income tax returns for that year, the American Institute of CPAs said in a letter released Tuesday.
-
August 05, 2025
McGuireWoods Adds Loeb & Loeb Tax Pro In Los Angeles
McGuireWoods LLP is enhancing its corporate team, announcing Tuesday it is bringing in a Loeb & Loeb LLP tax expert as a partner in its Los Angeles office in Century City.
-
August 05, 2025
Simpson Thacher Adds Tax, Funds Pro From Dechert
Simpson Thacher & Bartlett LLP announced Monday that it has continued its growth in the tax and registered funds spaces, welcoming a partner from Dechert LLP to its New York office.
-
August 05, 2025
Swiss President Hustles To DC To Address 39% Tariff
Swiss President Karin Keller-Sutter traveled Tuesday to Washington, D.C., for trade talks with the White House after Switzerland was hit with a 39% tariff on exports to the United States.
-
August 05, 2025
IRS Floats Update To System For Fringe Benefits
The Internal Revenue Service floated rules Tuesday that would change its system of business classification for employees hoping to exclude fringe benefits and employee discounts from their gross income at tax time.
-
August 05, 2025
Fed. Circ. Won't Revive Tax Whistleblower's Reward Suit
The government was not required to give a bigger whistleblower award to a former auditor who helped the Internal Revenue Service recover $180,000 in taxes, the Federal Circuit said Tuesday, affirming a ruling that a lower court lacked authority to hear her case.
-
August 05, 2025
IRS Has Spent Nearly $5B Of Funding Boost In 2025
The Internal Revenue Service has spent nearly $5 billion so far this fiscal year of the funding it received under the Inflation Reduction Act, including $2.1 billion for operations support, the Treasury Inspector General For Tax Administration said in a report released Tuesday.
-
August 04, 2025
Tax Court Declares Grocery Chain's In-House Insurer Ineligible
A grocery store chain's in-house insurance company did not operate as a normal insurer and therefore cannot deduct millions of dollars it received in insurance premiums, the U.S. Tax Court said Monday.
-
August 04, 2025
NY Atty Found Guilty Of Duping Lender Who Backed Lien Biz
A Manhattan federal jury on Monday convicted a former compliance lawyer of pilfering from a $20 million line of credit extended to his tax-lien business by a subsidiary of Emigrant Bank.
Expert Analysis
-
Crisis Management Lessons From The Parenting Playbook
The parenting skills we use to help our kids through challenges — like rehearsing for stressful situations, modeling confidence and taking time to reset our emotions — can also teach us the fundamentals of leading clients through a corporate crisis, say Deborah Solmor at the Wisconsin Alumni Research Foundation and Cara Peterman at Alston & Bird.
-
Immunity Waiver Ruling A Setback For Ch. 7 Trustees
While governmental units should welcome the U.S. Supreme Court's recent decision in U.S. v. Miller restricting the reach of the Bankruptcy Code's sovereign immunity waiver, Chapter 7 trustees now have a limited ability to maximize bankruptcy estates, says Dan Prieto at Jones Day.
-
Adapting To Private Practice: From NY Fed To BigLaw
While the move to private practice brings a learning curve, it also brings chances to learn new skills and grow your network, requiring a clear understanding of how your skills can complement and contribute to a firm's existing practice, and where you can add new value, says Meghann Donahue at Covington.
-
Top 3 Litigation Finance Deal-Killers, And How To Avoid Them
Like all transactions, litigation finance deals can sometimes collapse, but understanding the most common reasons for failure, including a lack of trust or a misunderstanding of deal terms, can help both parties avoid problems, say Rebecca Berrebi at Avenue 33 and Boris Ziser at Schulte Roth.
-
A 2-Step System For Choosing A Digital Asset Reporting Path
Under the Internal Revenue Service's new digital asset reporting regulation, each type of asset may have three potential reporting destinations, so a detailed testing framework can help to determine the appropriate path, says Keval Sonecha at Sonecha & Amlani.
-
How Attys Can Use A Therapy Model To Help Triggered Clients
Attorneys can lean on key principles from a psychotherapeutic paradigm known as the "Internal Family Systems" model to help manage triggered clients and get settlement negotiations back on track, says Jennifer Gibbs at Zelle.
-
3 Steps For In-House Counsel To Assess Litigation Claims
Before a potential economic downturn, in-house attorneys should investigate whether their company is sitting on hidden litigation claims that could unlock large recoveries to help the business withstand tough times, says Will Burgess at Hilgers Graben.
-
IRS And ICE Info Sharing Could Drive Payroll Tax Enforcement
Tax crimes are historically difficult to prosecute, but the Internal Revenue Services’ recent agreement with U.S. Immigration and Customs Enforcement to share taxpayer records of non-U.S. citizens could be used to enhance payroll tax-related enforcement against their employers, say attorneys at Holland & Knight.
-
Adapting To Private Practice: From DOJ Enviro To Mid-Law
Practitioners leaving a longtime government role for private practice — as when I departed the U.S. Department of Justice’s environmental enforcement division — should prioritize finding a firm that shares their principles, values their experience and will invest in their transition, says John Cruden at Beveridge & Diamond.
-
Legal Ethics Considerations For Law Firm Pro Bono Deals
If a law firm enters into a pro bono deal with the Trump administration in exchange for avoiding or removing an executive order, it has an ethical obligation to create a written settlement agreement with specific terms, which would mitigate some potential conflict of interest problems, says Andrew Altschul at Buchanan Angeli.
-
10 Arbitrations And A 5th Circ. Ruling Flag Arb. Clause Risks
The ongoing arbitral saga of Sullivan v. Feldman, which has engendered proceedings before 10 different arbitrators in Texas and Louisiana along with last month's Fifth Circuit opinion, showcases both the risks and limitations of arbitration clauses in retainer agreements for resolving attorney-client disputes, says Christopher Blazejewski at Sherin and Lodgen.
-
Notable Q1 Updates In Insurance Class Actions
The first quarter of 2025 was filled with the refinement of old theories in the property and casualty space, including in vehicle valuation, time to seek appraisal and materials depreciation, says Mathew Drocton at BakerHostetler.
-
Power To The Paralegals: The Value Of Unified State Licensing
Texas' proposal to become the latest state to license paraprofessional providers of limited legal services could help firms expand their reach and improve access to justice, but consumers, attorneys and allied legal professionals would benefit even more if similar programs across the country become more uniform, says Michael Houlberg at the University of Denver.