Federal

  • 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.

  • July 23, 2024

    Farm Owner Must Boost Taxable Income, 8th Circ. Told

    An Arkansas company that leases farmland must raise its reported income by $230,000 because it failed to get permission from the IRS to change its accounting method, the U.S. told the Eighth Circuit on Tuesday in asking it to uphold a U.S. Tax Court ruling.

  • July 23, 2024

    IRS Notice Signals Direction On Corp. AMT Regs, Official Says

    An Internal Revenue Service notice regarding the U.S. corporate alternative minimum tax can be read as a signal about how the agency will more broadly address the measure's potential for counting offshore income twice, an IRS official said Tuesday.

  • July 23, 2024

    Winston & Strawn Adds MoFo Tax Pro As Partner In NY

    Winston & Strawn LLP has added a transactional tax specialist from Morrison Foerster LLP as a partner with the firm's transactions department and tax practice in New York.

  • July 23, 2024

    Former Doctor To Be Released From Jail In FBAR Fight

    A former doctor will be released from U.S. custody after a Michigan federal court lifted Tuesday an order of civil contempt against him for failure to pay about $1 million in foreign account reporting penalties.

  • July 23, 2024

    Orrick Hires Ex-Winston & Strawn Tax Partner In Chicago

    Orrick Herrington & Sutcliffe LLP announced the hiring of a former partner at Winston & Strawn LLP for its renewables tax equity and tax credit team.

  • July 23, 2024

    11th Circ. Should Uphold Tax Court Protection, IRS Says

    The Eleventh Circuit should uphold a U.S. Tax Court ruling that denied a widow tax relief and also rejected her claim that Tax Court judges have unconstitutional job protection, the Internal Revenue Service told the circuit court.

  • July 23, 2024

    5-Hour Energy Partner Owes No Tax On Sale, DC Circ. Says

    The D.C. Circuit found Tuesday that a Canadian citizen's $6.5 million in gains from her sale of a U.S. partnership interest in a company that sold 5-hour Energy drinks was not federally taxable as inventory income, reversing a U.S. Tax Court ruling.

Expert Analysis

  • Money, Money, Money: Limiting White Collar Wealth Evidence

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    As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

  • Navigating New Safe Harbor For Domestic Content Tax Credits

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    The U.S. Department of the Treasury’s recent notice simplifying domestic content calculations for certain solar, onshore wind and battery storage projects, which directly acknowledges the difficulty for taxpayers in gathering data to support a domestic content analysis, should make it easier to qualify additional domestic content bonus tax credits, say attorneys at A&O Shearman.

  • Firms Must Rethink How They Train New Lawyers In AI Age

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    As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.

  • 'Energy Communities' Update May Clarify Tax Credit Eligibility

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    A recent IRS notice that includes updated lists of locations where clean energy projects can qualify for additional tax credits — based 2023 unemployment data and placed-in-service dates — should help provide clarity regarding project eligibility that sponsors and developers need, say attorneys at Troutman Pepper.

  • Think Like A Lawyer: Always Be Closing

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    When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.

  • Litigation Inspiration: Attys Can Be Heroic Like Olympians

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    Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.

  • Lean Into The 'Great Restoration' To Retain Legal Talent

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    As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.

  • How Cannabis Rescheduling May Alter Paraphernalia Imports

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    The Biden administration's recent proposal to loosen federal restrictions on marijuana use raises questions about how U.S. Customs and Border Protection enforcement policies may shift when it comes to enforcing a separate federal ban on marijuana accessory imports, says R. Kevin Williams at Clark Hill.

  • NCAA Settlement May End The NIL Model As We Know It

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    The recent House v. NCAA settlement in California federal court, in which the NCAA agreed to allow schools to directly pay March Madness television revenue to their athletes, may send outside name, image and likeness collectives in-house, says Mike Ingersoll at Womble Bond.

  • Fishing Makes Me A Better Lawyer

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    Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge​​​​​​​ at Robinson Bradshaw.

  • A Healthier Legal Industry Starts With Emotional Intelligence

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    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

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    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.

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