Federal

  • September 23, 2024

    Profs, Retired Judges Ask Justices To Uphold Return Of Taxes

    Two former bankruptcy judges and a group of law professors threw their support behind the bankruptcy trustee of a Utah transportation company seeking to convince the U.S. Supreme Court that the IRS, like any other creditor, should have to return payments deemed fraudulent under state law.

  • September 23, 2024

    IRS Finalizing Pricing Pact Guidance, Official Says

    The Internal Revenue Service is in the final stages of updating revenue procedures to help multinational corporations pursue advance pricing agreements and resolve tax treaty disputes, and it will release the guidance soon, an agency official said Monday.

  • September 23, 2024

    IRS Names Chief Of Appeals Office

    The Internal Revenue Service elevated the acting chief of its Independent Office of Appeals to the position permanently, the agency announced Monday.

  • September 23, 2024

    Squire Patton Tax Ace Joins Winston & Strawn In Dallas

    Winston & Strawn LLP announced Monday it has expanded its tax offerings with the addition of an experienced attorney from Squire Patton Boggs LLP in Texas.

  • September 23, 2024

    Julie Chrisley Fights For Sentence Cut After 11th Circ. Ruling

    Former reality TV star Julie Chrisley asked a Georgia federal judge on Friday to resentence her to no more than five years for her role in a $36 million tax evasion and fraud scheme, arguing against prosecutors' insistence that the seven-year sentence she was previously given be kept intact.

  • September 20, 2024

    Family Owes $81M Taxes On 'Son-Of-Boss' Scheme, DOJ Says

    Former shareholders of a family-owned holding company owe the IRS nearly $81 million for participating in what is known as a Son-of-Boss arrangement, which generated fake capital losses in the 2022 sale of company stock, the U.S. Department of Justice told a New York federal court.

  • September 20, 2024

    8th Circ. To Hear Args In 3M's $24M Tax Case Next Month

    The Eighth Circuit said Friday that it will hear oral arguments next month in 3M's transfer pricing appeal, in which the multinational conglomerate is challenging the Internal Revenue Service's authority to reallocate to the company $24 million from a Brazilian affiliate.

  • September 20, 2024

    IRS Updates Per-Diem Deduction Rates For Business Travel

    The per-diem rates used to compute business travel expense tax deductions will be $319 for travel to high-cost areas and $225 for travel to low-cost areas starting in October, the Internal Revenue Service said Friday.

  • September 20, 2024

    Divestiture Counts As Reorganization, IRS Says

    A domestic corporation with some foreign shareholders that is required to divest itself of one of its businesses by using a newly created corporation as an intermediary for the distribution qualifies as a tax-free reorganization, the IRS said in a private letter ruling released Friday.

  • September 20, 2024

    IRS Special Trial Attorney Joins Hochman Salkin In California

    When Hochman Salkin Toscher Perez PC's newest principal, Sebastian Voth, was studying at Emory University School of Law, a former chief counsel for the Internal Revenue Service told students that the IRS was a great place to start their careers. After 15 years as an IRS attorney, Voth found that the agency was also a great place to work, he told Law360 Pulse in an interview Friday.

  • September 20, 2024

    IRS Not Meeting Disclosure Requirements For Joint Returns

    The Internal Revenue Service did not uniformly follow joint return disclosure requirements on collection information requests, burdening taxpayers with additional delays resolving their tax matters and possibly violating their privacy rights, the Treasury Inspector General for Tax Administration said Friday.

  • September 20, 2024

    Tribe's Stateless Status Undoes $1.9M Construction Suit

    A Massachusetts federal judge on Thursday tossed a New York construction company's $1.9 million lawsuit against the Mashpee Wampanoag Tribe, finding the tribe's stateless position leaves the court with no jurisdiction to decide the case.

  • September 20, 2024

    Taxation With Representation: Gibson Dunn, Holland & Knight

    In this week's Taxation With Representation, CACI International buys Azure Summit Technology, Hotel Engine lands a valuation led by Permira, and Knowles Corp. sells its microphone business to Syntiant Corp.

  • September 20, 2024

    IRS Must Credit Overpayments, Couple Tell 5th Circ.

    A couple claiming they should be allowed to sue the IRS for a roughly $500,000 tax refund in federal court because they overpaid their taxes told the Fifth Circuit that the agency is out of time to challenge their overpayments and must credit their account.

  • September 20, 2024

    IRS Corrects Proposed Clean Electricity Bonus Credit Regs

    The Internal Revenue Service issued corrections Friday to proposed regulations that would broaden the types of power facilities that could be eligible for clean electricity low-income community bonus credit amounts starting in 2025.

  • September 20, 2024

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's weekly bulletin, issued Friday, included proposed regulations that would adjust the timing for when companies could opt to use the so-called mark-to-market accounting method for gains or losses that arise from foreign currency transactions.

  • September 19, 2024

    Ch. 7 Trustee Urges Justices To Uphold Return Of Taxes

    The bankruptcy trustee of a defunct Utah transportation company warned the U.S. Supreme Court on Thursday that overturning a decision forcing the IRS to return tax payments made by company directors to cover their personal debts would encourage shareholder fraud.

  • September 19, 2024

    Convicted Drexel Professor Won't Get New Tax Evasion Trial

    A Drexel University accounting professor was denied a new trial after being convicted on tax evasion charges for failing to report $3.3 million in income from a Trenton pharmacy, a New Jersey federal judge has ruled, reasoning that the professor's case was not prejudiced by keeping accounting records related to his tax returns from the jury.

  • September 19, 2024

    House Bill Proposes Tax Incentives For Military Housing

    A bill introduced in the U.S. House of Representatives would seek to increase the availability and affordability of housing for service members in part by excluding the military's basic housing allowance from the income calculation for the low-income housing tax credit.

  • September 19, 2024

    Calif. Says FDIC's $20M Tax Refund Bid Must Wait

    A California tax collection agency asked a New York federal court to throw out Federal Deposit Insurance Corp. claims seeking a more than $20 million tax refund on behalf of the shuttered Signature Bank, saying the agency is entitled to wait for a potential IRS audit to end. 

  • September 19, 2024

    Death Doesn't Preclude FBAR Penalties, Judge Says

    The death of a U.S. citizen who failed to file reports of foreign bank and financial accounts doesn't stop the U.S. government from enforcing penalties against his estate, a New York federal judge ruled.

  • September 19, 2024

    Senate Tees Up Vote On Tax Court Nominee

    The U.S. Senate set the stage Thursday to proceed with a vote on one of President Joe Biden's picks to fill an open seat on the U.S. Tax Court.

  • September 19, 2024

    GAO Says IRS Can Be Better Prepped For Reporting Changes

    While the Internal Revenue Service could collect billions thanks to recent reporting requirement changes, particularly those related to cryptocurrency, the agency needs to take further steps to be prepared for the changes, the Government Accountability Office said Thursday.

  • September 19, 2024

    H&R Block Again Asks 8th Circ. To Remove ALJs In Ad Suit

    H&R Block asked the Eighth Circuit to reconsider its denial of the company's request to stop administrative law judges from presiding over its coming false-advertising hearing before the Federal Trade Commission, saying the court's one-sentence ruling lacked any explanation despite the significant constitutional issues involved.

  • September 19, 2024

    IRS Warns Taxpayers Of Offer-In-Compromise 'Mills'

    The IRS urged taxpayers to be careful about working with promoters that claim to provide necessary services in order to comply with the agency's offer-in-compromise program, saying Thursday that these "mills" only bring "empty promises and steep costs."

Expert Analysis

  • Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?

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    A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.

  • 3 Leadership Practices For A More Supportive Firm Culture

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    Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.

  • E-Discovery Quarterly: Rulings On Hyperlinked Documents

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    Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.

  • Loper Bright Limits Federal Agencies' Ability To Alter Course

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    The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.

  • A Guide To Long-Term, Part-Time Employee Determinations

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    With final regulations under the Secure Act requiring 401(k) retirement benefits for long-term, part-time employees expected soon, Amy Sheridan and David Guadagnoli at Sullivan & Worcester look at how the proposed rules would shift the risk-reward calculus on excluding categories of employees, and what plan sponsors would need to consider when designing retirement plans.

  • After Chevron: Delegation Of Authority And Tax Regulators

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    The U.S. Department of the Treasury and the Internal Revenue Service will face higher standards following Loper Bright’s finding that courts should determine whether agency rules meet the best possible interpretation of the tax code, as well as the scope of the authority delegated by Congress, says Edward Froelich at McDermott.

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

  • Rock Climbing Makes Me A Better Lawyer

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    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

  • Contract Disputes Recap: Preserving Payment Rights

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    Stephanie Magnell and Zachary Jacobson at Seyfarth examine three recent decisions that together illustrate the importance of keeping accurate records and adhering to contractual procedures to avoid inadvertently waiving contractual rights to cost reimbursements or nonroutine payments.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

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    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • After Jarkesy, IRS Must Course-Correct On Captive Insurance

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    The U.S. Supreme Court’s recent Securities and Exchange Commission v. Jarkesy decision has profound implications for other agencies, including the IRS, which must stop ignoring due process and curtailing congressional intent in its policing of captive insurance arrangements, says Peter Dawson at the 831(b) Institute.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

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