Federal

  • October 23, 2026

    Virgin Islands NIIT Exemption Should Stay Intact, Court Told

    A former U.S. Virgin Islands resident urged a federal court Friday not to rethink its decision holding that locals are exempt from the net investment income tax, arguing it's too late for the territory's revenue collectors to raise new arguments.

  • October 23, 2026

    Tax Court Misread Easement Rules, 4th Circ. Told

    The U.S. Tax Court imposed conservation easement donation requirements beyond what the law allows in evaluating a property's condition and potential mining value, a partnership told the Fourth Circuit, seeking to overturn the 2025 denial of its charitable deduction.

  • October 23, 2026

    TIGTA Says 2.2M Returns Prepped By Noncompliant Preparers

    More than 38,000 tax preparers with a noncompliant IRS identifier status prepared more than 2.2 million returns for processing in 2025, the Treasury Inspector General for Tax Administration said in a report assessing the agency's issuing, renewing and monitoring of the identifiers.

  • October 23, 2026

    Wyden Floats Data Center Excise Tax, Limits On Incentives

    Data centers wouldn't be eligible for opportunity zone incentives and data center operators would be subject to an excise tax on gross receipts under draft legislation released Friday by the top Democrat on the Senate Finance Committee.

  • October 23, 2026

    Taxation With Representation: Milbank, De Brauw, Wachtell

    In this week's Taxation With Representation, EQT Private Equity announces a takeover offer for life sciences testing company Qiagen NV, Salesforce acquires customer engagement platform Braze and London Stock Exchange Group buys U.S. credit intelligence provider Octus.

  • October 23, 2026

    Dutch Tax Treaty Policy Should Wait For Int'l Deal, NFTC Says

    The Netherlands should not unilaterally change its tax treaty policy to allow countries to collect levies from remote corporations, the National Foreign Trade Council said Friday, urging the government to wait for countries to agree on new international norms.

  • October 23, 2026

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's weekly bulletin, released Friday, included temporary rules on how to establish the tax-advantaged brokerage accounts for children known as Trump Accounts.

  • October 22, 2026

    Vegas Man Gets 38 Months For $5M Tax Refund Fraud Scheme

    A Las Vegas man was sentenced to more than three years in prison for his role in what the government described as a $5 million tax refund fraud scheme that also involved his mother, who owned a tax preparation business, federal prosecutors said.

  • October 22, 2026

    IRS Says Tax Court Lacks Jurisdiction In Late-Filed Case

    The U.S. Tax Court erred by finding it has jurisdiction in a partnership case that missed the 90-day window for filing its petition, the IRS said, arguing that relevant language in 2015 legislation is identical to that in prior legislation that mandated dismissing a similar case.

  • October 22, 2026

    Dems Seek GAO Review Of $166B Tariff Refund Operation

    Democratic lawmakers serving in the U.S. House and Senate asked for the Government Accountability Office to evaluate Customs and Border Protection's administration of a tariff refund system designed to repay importers the $166 billion in paid duties deemed unlawful earlier this year by the U.S. Supreme Court, according to a Thursday news release.

  • October 22, 2026

    GOP Reps. Seek Probe Of Fla. Judge's Sanctions Order

    Top Republicans on the House Judiciary Committee asked the Judicial Conference Thursday to investigate a Florida federal judge for potential misconduct with an order she issued in the case involving the leak of President Donald Trump's tax returns.

  • October 22, 2026

    5th Circ. Orders New Look At IRS' Loss On FBAR Jury Rights

    A Texas federal court must revisit its 2025 ruling that the IRS violated a woman's jury-trial rights by imposing a $1 million civil penalty for failing to report foreign bank accounts, the Fifth Circuit said, ordering another review in light of a U.S. Supreme Court decision.

  • October 22, 2026

    UPS Waiting On Feds To Refund Tariff Costs, Court Told

    An Atlanta federal court should, at minimum, pause a proposed class action looking to force UPS to reimburse customers for costs they incurred as the result of struck-down reciprocal tariffs, the shipping giant said, as the company itself is still waiting on refunds.

  • October 22, 2026

    Tax Court Scraps $75M Easement Deduction As 'Cartoonish'

    The U.S. Tax Court refused to approve a partnership's $74.5 million charitable tax deduction for a Tennessee conservation easement Thursday, describing it as a "cartoonish" amount for a nearly $3 million property that sat on the market for years.

  • October 22, 2026

    IRS Creates New Retirement Plan Correction Program

    The Internal Revenue Service issued two revenue procedures Thursday, including one creating a correction program for individual retirement accounts.

  • October 22, 2026

    IRS Offer In $57M Easement Case Not Binding, 11th Circ. Told

    The U.S. Tax Court properly denied a partnership's request to enforce a settlement offer the IRS said it mistakenly made after rejecting the partnership's $57 million conservation easement deduction, the agency told the Eleventh Circuit, saying the parties hadn't entered into a binding agreement.

  • October 22, 2026

    Foreign Tax Credit Sourcing Rule Likely By Year's End

    The IRS hopes to propose regulations on sourcing certain inventory sales income for the foreign tax credit limitation under Internal Revenue Code Section 904 — one of the items listed on its priority guidance plan for 2026-2027 — by the end of the year, an agency official said.

  • October 22, 2026

    Treasury Aiming to Float CAMT Rules by Feb., Official Says

    The U.S. Treasury Department is still on track to propose revised regulations for the corporate alternative minimum tax by February, a department official said Thursday.

  • October 21, 2026

    IRS Sets Interim Relief For Dyed Fuel Excise Tax Reporting

    The IRS will temporarily waive enforcement of the reporting and recordkeeping requirements for the retail excise tax on certain uses of dyed diesel as the agency examines a simple process to administer the compliance provisions, the agency announced Wednesday.

  • October 21, 2026

    IRS Says Eaton Misportrayed Intercompany Loan Example

    Eaton misportrayed the IRS' argument about a regulatory example concerning the relevance of companies' relatedness when analyzing an arm's-length price of a transaction, the agency told the U.S. Tax Court, defending its denial of related-party interest and fee deductions.

  • October 21, 2026

    Wyden Questions Big 4 Execs On Int'l Tax Shelter Consulting

    The Senate Finance Committee's top Democrat said Wednesday that he was launching an inquiry into whether the Big Four accounting firms — PwC, KPMG, Deloitte and EY — have helped large multinational corporations avoid billions in taxes by creating tax shelters in Malta.

  • October 21, 2026

    Beauty Co.'s $8M Refund Bid Axed For Misnomer On Returns

    An Illinois federal judge dismissed a skin care corporate group's $8.3 million tax refund suit, finding she lacked jurisdiction to review its amended returns claiming business deductions because those filings did not use the company's new name after a 2018 merger.

  • October 21, 2026

    Squire Patton Lands Akerman's Public Finance Co-Leader

    Squire Patton Boggs LLP announced Wednesday that it has added the co-chair of Akerman LLP's public finance group to bolster its capacity to handle public finance, healthcare finance and other matters.

  • October 21, 2026

    Mich. Staffing Biz Owner Cops To $1.7M Tax Fraud Scheme

    A Michigan woman who owned a series of staffing companies pled guilty to conspiring to defraud the U.S. for more than a decade via an employment tax scheme, causing a tax loss to the IRS of roughly $1.7 million, federal prosecutors said.

  • October 20, 2026

    Biz Says 50% Canadian Tariff Is Yet Another Illegal Regime

    President Donald Trump's retaliatory 50% tariffs against Canadian goods are the latest in a string of illegal trade actions and should be struck down, just like two previous regimes, according to a lawsuit filed Tuesday at the U.S. Court of International Trade.

Expert Analysis

  • AI Meeting Recaps Pose New Discovery And Privilege Risks

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    The New York City Bar Association’s recent ethics opinion, cautioning attorneys not to record nonclient conversations with artificial intelligence tools, reflects an emerging view that AI meeting recaps are now a distinct business record category, meaning counsel should set meeting-level controls and apply framework-level updates, says William Wright at Faegre Drinker.

  • Playing Bid Whist Makes Me A Better Lawyer

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    As a child, I viewed bid whist as a family tradition and a source of friendly card game competition, but as a lawyer, I see it as a tool that has helped me cultivate skills like communication, teamwork, risk assessment and composure, says Keyonn Pope at Riley Safer.

  • Md. Digital Tax Ruling Is A Road Map For Future Challenges

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    Three Maryland Tax Court rulings that recently struck down the state's digital advertising tax suggest constitutional and statutory vulnerabilities that could be used to challenge newly enacted digital services laws or legislation being considered by other states, say attorneys at Holland & Knight.

  • Calif. Bill Goes Too Far In Trying To Regulate Attorney AI Use

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    California’s first-in-the-nation act regulating how attorneys and arbitrators use generative artificial intelligence will likely soon become law, but read broadly, the provisions may dissuade lawyers from employing AI at all, thereby depriving them of key work tools, says Joshua Wurtzel at Schlam Stone.

  • IRS Notice Helps Bridge Carbon Capture Reporting Gap

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    Recent guidance that extends a safe harbor for taxpayers claiming Section 45Q carbon capture credits provides a temporary reporting method that may keep viable projects moving while the U.S. Department of the Treasury and the Environmental Protection Agency address future reporting standards, says Peter Lowy at Nelson Mullins.

  • Attorneys Using AI May Have Ethical Duty To Redact Docs

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    The trajectory of legal ethics guidance in recent years strongly suggests that as redaction technology becomes more accessible, the failure to use it when uploading highly confidential materials into artificial intelligence tools will become increasingly difficult to defend as reasonable, say attorneys at Lewis Brisbois.

  • Md. Court Got Ad Tax Similarity Analysis Wrong

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    Decisions striking Maryland’s digital advertising tax are fundamentally flawed because the Maryland Tax Court found similarity between digital ads and other ads without considering deep market distinctions, says Darien Shanske at UC Davis School of Law.

  • Planning For The Impact Of FinCEN's CTA Rollback

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    The Financial Crimes Enforcement Network's recent rollback of Corporate Transparency Act reporting obligations should reduce compliance costs, but its plans to revisit customer due diligence rules should prompt companies and financial institutions to reassess state beneficial ownership programs, say attorneys at Sidley.

  • What DOJ Fraud Division Rule Resolves, And What It Doesn't

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    The U.S. Department of Justice’s recently published final rule answers many outstanding questions about the newly created National Fraud Enforcement Division, but overlapping mandates could result in parallel investigations and diverging viewpoints between multiple sets of prosecutors, say attorneys at Gibson Dunn.

  • ERC Filing Deadlines Raise Tax Adviser Liability Risk

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    To minimize their risk, employee retention credit providers and tax advisers should understand that agreements to extend clients’ two-year deadline for challenging disallowances are not effective until the IRS countersigns, and implement an action plan to track filing deadlines and consider other proactive steps, says Michael Williams at CFOMW.

  • Taekwondo Makes Me A Better Lawyer

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    Taekwondo has taught me to recognize when to fight for a position and when to focus on finding a solution, and that the best outcomes are often achieved by solving problems — all of which has improved my work as a bankruptcy lawyer, mediator and Subchapter V trustee, says Amy Denton Mayer at Berger Singerman.

  • Where DOJ's Fraud Priorities Memo May Actually Matter

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    The U.S. Department of Justice’s recently released memo outlining priorities for its newly created fraud division will shape how cases are identified, staffed and sequenced, meaning white collar defense work must begin earlier, say David Tarras at Tarras Defense and Trevor Jones at Dynamis.

  • Monitor Exposure, Stay Flexible Amid Tariff Uncertainty

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    To navigate an unstable trade environment, businesses must evaluate their exposure to new tariffs invoked under a patchwork of statutory authorities and be prepared to adapt to further changes that may be on the horizon, says Bhargav Prajapati at Capital Trade.

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