Federal

  • July 25, 2024

    Global Tax Police Unit Probes More Than 30 Cybercrime Cases

    The Joint Chiefs of Global Tax Enforcement, an intergovernmental tax enforcement group, is investigating more than 30 active cybercrime cases tied to financial and tax criminal activities all over the world, the group announced Thursday in its first report.

  • July 25, 2024

    Teacher Not Entitled To Business Deductions, Tax Court Says

    A teacher who told the U.S. Tax Court that she had self-published six books and was passionate about conducting missing persons research was denied business deductions for the activities Thursday after the court determined she wasn't primarily trying to turn a profit.

  • July 25, 2024

    Wyden Seeks Swiss Bank Info On Indicted Defense Contractor

    Senate Finance Committee Chairman Ron Wyden asked Swiss bank UBS in a letter published Thursday for information about a former U.S. defense contractor who the Department of Justice says avoided taxes on more than $350 million in income.

  • July 25, 2024

    Senate Confirms First Tax Court Judge Since 2020

    The U.S. Senate on Thursday confirmed a U.S. Tax Court judge for the first time since 2020.

  • July 25, 2024

    Clark Hill Adds Tax And Estate Atty From Plunk Smith In Texas

    A former Plunk Smith PLLC senior associate jumped to Clark Hill in Collin County, Texas, to serve as a member in the tax and estate planning practice, the firm announced Thursday.

  • July 25, 2024

    GOP Control Could Muddle Tax Picture For Multinationals

    Republican lawmakers and former President Donald Trump could create more confusion for multinationals with their tax and trade policies if they sweep the U.S. elections in November, because they are likely to pursue retaliatory measures in opposition to the OECD's global tax rewrite.

  • July 25, 2024

    IRS, Zaxby's Co-Founder To Settle $43M Easement Suit

    The Internal Revenue Service agreed to settle a $43 million valuation dispute over a conservation easement donated by the co-founder of the Zaxby's restaurant chain and his wife, prompting a Georgia federal court Thursday to cancel next month's anticipated jury trial.

  • July 25, 2024

    Vanguard Opposes Investors' Cert. Bid In Tax Liability Suit

    A group of investors accusing Vanguard of violating its fiduciary duties by triggering a sell-off of assets that left smaller investors with massive tax bills shouldn't be granted class certification, the asset manager told a Pennsylvania federal court.

  • July 25, 2024

    GOP House Bill Would End IRS Direct Filing Program

    Two House Republicans introduced legislation that would end the Internal Revenue Service's Direct File online filing system.

  • July 25, 2024

    IRS Adds Audit Updates To Individual Online Accounts

    The Internal Revenue Service has added features to individual online taxpayer accounts, including a way to get updates on audits, thanks to increased funding provided by the 2022 tax and climate law, the agency said Thursday.

  • July 24, 2024

    NC Man Gets Prison, $4.4M Fine For Stealing From Customers

    A North Carolina businessman who admitted to stealing customers' bank and credit account information and spending their funds at casinos has been ordered to serve almost three years in prison and to pay a penalty of more than $4.4 million, prosecutors announced this week.

  • July 24, 2024

    Atty Can't Deduct Car Racing Costs As Ads, US Tells 10th Circ.

    A personal injury lawyer who also races cars shouldn't be allowed to deduct about $300,000 for racing-related costs as ordinary business advertising expenses because they're unrelated to his law practice, the U.S. government told the Tenth Circuit on Wednesday.

  • July 24, 2024

    Senate Tees Up Votes On Two Tax Court Nominees

    The U.S. Senate set the stage Wednesday for the chamber to proceed with votes on two of President Joe Biden's picks for U.S. Tax Court seats.

  • July 24, 2024

    IRS' $15M Jeopardy Assessment OK'd In Offshore Tax Fight

    A Florida federal court has upheld a $15 million immediate tax assessment against a man who transferred his father's estate into trusts for himself and his mother and refused to pay what the IRS claimed was tax debt on his father's undisclosed offshore accounts.

  • July 24, 2024

    IRS Sets Criteria For Carbon Capture Credit Life Cycle Report

    The Internal Revenue Service detailed standards and procedures Wednesday for a written report on a carbon sequestration facility's greenhouse gas emissions that project owners must submit and get agency approval on before claiming the carbon oxide tax credit.

  • July 24, 2024

    Affordable Housing Pro Moves Practice To Nelson Mullins

    An attorney who specializes in advising clients on completing affordable housing development projects has recently moved her practice to Nelson Mullins Riley & Scarborough's Pittsburgh office.

  • July 24, 2024

    New Jersey Joining IRS Free E-File Program in 2025

    The IRS' Direct File free electronic tax return filing program will be available in New Jersey in the 2025 tax filing season, the U.S. Department of the Treasury and the Internal Revenue Service said Wednesday.

  • July 24, 2024

    Fed. Circ. Won't Revive Tax Suit Seeking $35M In Gold Coins

    The U.S. Court of Federal Claims correctly tossed a man's lawsuit seeking more than $35 million in gold coins as restitution for claims regarding a decades-old tax bill, as that court does not have jurisdiction, a Federal Circuit panel affirmed Wednesday.

  • July 24, 2024

    Senate Finance Committee Holding Tax Court Noms Session

    The Senate Finance Committee will host an open executive session Thursday to consider three nominations to the U.S. Tax Court, Sen. Ron Wyden, D-Ore., said Wednesday.

  • July 24, 2024

    Dentons Brings On Former Big 4 Exec As New Global CEO

    Global law firm Dentons, which has made a name for itself by aggressive growth through combinations, has tapped a new global chief executive officer with leadership experience at accounting giant EY, the firm's first change at the top in over a decade.

  • July 23, 2024

    Cannabis Industry Stakeholders Weigh In On Rescheduling

    As the period for public comment on the Biden administration's proposal to reclassify marijuana came to a close Monday, anti-legalization activists, marijuana industry advocates and state cannabis regulators each submitted their thoughts on the potential policy shift.

  • July 23, 2024

    House Delays Vote On FY25 IRS Budget Legislation

    The House delayed an expected vote Tuesday on the Internal Revenue Service's budget for fiscal 2025, casting doubt on whether GOP lawmakers will meet their goal of passing the funding bill before Congress' annual August recess begins next week.

  • July 23, 2024

    Newell Says IRS Misapplied Pricing Law In $124M Dispute

    Newell Brands told the U.S. Tax Court the Internal Revenue Service misapplied transfer pricing law to levy almost $124 million in additional taxes and penalties.

  • July 23, 2024

    White House Taps VA Official To Helm Tax Watchdog

    President Joe Biden has nominated a U.S. Department of Veterans Affairs investigator to serve as Treasury inspector general for tax administration, the Internal Revenue Service's federal watchdog, the White House announced Tuesday.

  • July 23, 2024

    Feds Urge 6th Circ. To Affirm Pharma Owner's Fraud Sentence

    The Sixth Circuit should affirm a district court's fraud convictions, nearly five-year sentence and $7 million restitution order against an Ohio pharmaceutical salesman who underreported his income to reduce his tax liability in a multimillion-dollar scheme involving bogus insurance billings, the federal government said.

Expert Analysis

  • A Healthier Legal Industry Starts With Emotional Intelligence

    Author Photo

    The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.

  • To Make Your Legal Writing Clear, Emulate A Master Chef

    Author Photo

    To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

    Author Photo

    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

  • BF Borgers Clients Should Review Compliance, Liability

    Author Photo

    After the U.S. Securities and Exchange Commission's recently announced enforcement proceedings against audit firm BF Borgers for fabricating audit documentation for hundreds of public companies, those companies will need to follow special procedures for disclosure and reporting — and may need to prepare for litigation from the plaintiffs bar, say attorneys at Debevoise.

  • Trauma-Informed Legal Approaches For Pro Bono Attorneys

    Author Photo

    As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.

  • What Updated PLR Procedure May Mean For Stock Spin-Offs

    Author Photo

    A recently published Internal Revenue Service revenue procedure departs from commonly understood interpretations of the spinoff rules by imposing more stringent standards on companies seeking private letter rulings regarding tax-free stock spinoff and split-off transactions, and may presage regulatory changes that would have the force of law, say attorneys at Skadden.

  • Proposed Cannabis Reschedule Sidesteps State Law Effects

    Author Photo

    The U.S. Department of Justice's recent proposal to move cannabis to Schedule III of the Controlled Substances Act provides certain benefits, but its failure to address how the rescheduling would interact with existing state cannabis laws disappointed industry participants hoping for clarity on this crucial question, says Ian Stewart at Wilson Elser.

  • How Attys Can Avoid Pitfalls When Withdrawing From A Case

    Author Photo

    The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.

  • Using A Children's Book Approach In Firm Marketing Content

    Author Photo

    From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.

  • New Crypto Reporting Will Require Rigorous Recordkeeping

    Author Photo

    The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service's efforts to track cryptocurrency activities that increases oversight by requiring brokers to report investor sales and exchanges, say Shaina Kamen and Max Angel at Holland & Knight.

  • Geothermal Energy Has Growing Potential In The US

    Author Photo

    Bipartisan support for the geothermal industry shows that geothermal energy can be an elegant solution toward global decarbonization efforts because of its small footprint, low supply chain risk, and potential to draw on the skills of existing highly specialized oil and gas workers and renewable specialists, say attorneys at Weil.

  • Exploring An Alternative Model Of Litigation Finance

    Author Photo

    A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.

  • Trump Hush Money Case Offers Master Class In Trial Strategy

    Author Photo

    The New York criminal hush money trial of former President Donald Trump typifies some of the greatest challenges that lawyers face in crafting persuasive presentations, providing lessons on how to handle bad facts, craft a simple story that withstands attack, and cross-examine with that story in mind, says Luke Andrews at Poole Huffman.

Can't find the article you're looking for? Click here to search the Tax Authority Federal archive.