Federal

  • October 09, 2024

    Election Uncertainty Hampers Companies' Tax Planning

    With the November election approaching, businesses are bracing for the potential impact of two very different sets of tax policies, with the resulting uncertainty making long-term tax planning increasingly difficult.

  • October 09, 2024

    Masonry Cos. Demand $2.3M In Worker Credit Refunds

    The IRS brushed aside the requirements of a pandemic relief law by stalling on issuing $2.3 million in worker tax credits to two branches of a historic masonry company, the businesses told an Illinois federal court in a suit seeking refunds.

  • October 09, 2024

    Feds Seek 16 Months For Ex-BigLaw Partner's Tax Dodging

    Prosecutors told a Wisconsin federal judge that a former Husch Blackwell LLP and Dykema Gossett PLLC partner who pled guilty to tax evasion should be sentenced to 16 months in prison, saying he lied to IRS revenue officers to keep them at bay while spending lavishly on private planes, jewelry and golf club memberships.

  • October 09, 2024

    Final Treasury Rules Shut Off Inclusion For Repatriated IP

    The U.S. Treasury Department adopted final rules Wednesday that shut off an annual income inclusion associated with intangibles for companies in certain situations that have transferred intellectual property back to the U.S. from overseas.

  • October 08, 2024

    IRS Appeals Office's Easement Deals May Sap Independence

    The IRS Independent Office of Appeals plans to settle certain conservation easement cases with similar terms offered by other IRS divisions, but these upcoming offers might be challenging for taxpayers to navigate and could undermine the office's independence from the rest of the agency.

  • October 08, 2024

    Homeowners Again Seek Class Cert. In Tax Foreclosure Suit

    A group of former property owners has asked a Michigan federal judge to recertify a class action seeking to recover profits county treasurers made selling their tax-delinquent properties, saying the addition of class representatives fixes the flaw that dismantled the class. 

  • October 08, 2024

    Tax Court Cuts $16.7M Deduction For Conservation Donation

    A partnership that claimed a $16.7 million tax deduction for donating a conservation easement covering land in Georgia was trying to "fleece the public" with its claims that the land could be used for clay mining, a U.S. Tax Court judge said Tuesday in a decision slashing the deduction.

  • October 08, 2024

    IRS Seeks Feedback On Digital Asset Reporting Form

    The Internal Revenue Service is seeking comments by Nov. 6 on a draft of a 2025 form for digital asset transaction reporting, according to a notice.

  • October 08, 2024

    Tire Seller Counts As Importer, Owes $2M Tax, 5th Circ. Says

    A Houston truck sales company owes nearly $2 million in excise taxes because it qualifies as the importer of tires that it bought from a Chinese manufacturer, the Fifth Circuit ruled Tuesday in overturning the decision of a Texas federal judge.

  • October 08, 2024

    Tax Court Denies Ariz. Woman Spousal Relief

    The U.S. Tax Court denied an Arizona woman's request for relief from liability for a faulty return filed by her husband, saying on Tuesday that she failed to show she was a victim of abuse and incapable of challenging the filing.

  • October 08, 2024

    Loss Rule Carveouts Raise Challenges In Pillar 2, Official Says

    An IRS official flagged administrability concerns Tuesday with potential safe harbors that would, in some cases, carve out an international minimum tax agreement from interacting with long-standing domestic rules aimed at preventing companies from using the same economic loss twice.

  • October 08, 2024

    Calif. Tax Preparer Gets 6 Years For $28M Scheme

    The owner of a California tax preparation business who helped customers create sham companies was sentenced to six years in prison for a decadelong scheme that caused a tax loss of at least $28 million, according to the U.S. Department of Justice.

  • October 08, 2024

    Settlement Payments Not Deductible Alimony, 11th Circ. Told

    A divorced man who was ordered by a judge to make $3 million in payments on a past-due settlement to his ex-wife should not be allowed to shield them from tax, the U.S. government told the Eleventh Circuit, saying the payments don't qualify as alimony.

  • October 08, 2024

    7 Taxpayer Advocacy Panel Committees To Meet In November

    Seven Taxpayer Advocacy Panel committees will meet in November to discuss possible improvements to customer services, the Internal Revenue Service said Tuesday.

  • October 07, 2024

    Justices Won't Hear Man's FBAR Constitutionality Challenge

    The U.S. Supreme Court let stand Monday a Seventh Circuit decision dismissing a man's challenge to the constitutionality of the Bank Secrecy Act's requirement to report his foreign bank accounts, effectively ending the man's claim that the filings were an invasion of privacy.

  • October 07, 2024

    Jury Finds Professor Hid Foreign Bank Accounts

    An 86-year-old former college professor faces more than $500,000 plus interest in penalties after a jury found that he had deliberately failed to report his foreign bank accounts in Switzerland and Turkey, according to documents filed in a California federal court.

  • October 07, 2024

    Treasury Proposes Exempting Tribal Cos. From Income Tax

    Tribal-owned businesses would not be subject to federal income tax under proposed regulations released Monday by the U.S. Department of the Treasury, a move that would also allow such entities to be eligible to receive direct cash payments in lieu of clean energy tax credits.

  • October 07, 2024

    Henderson Franklin Adds Tax Pro To Florida Offices

    A tax attorney who formerly practiced at Stradling Yocca Carlson & Rauth PC has joined Henderson Franklin Starnes & Holt PA's business and tax planning department and will work from the firm's Florida offices in Fort Myers and Naples.

  • October 07, 2024

    Man Who Faced Espionage Case Gets Probation Over Taxes

    A Chinese engineer initially accused of illegally exporting documents on military aircraft to China was given probation and fined for failing to report about $1.4 million in business income by a Texas federal court after the government dropped its export charges.

  • October 07, 2024

    11th Circ. Balks At Ex-Braves' $47M Easement Case

    Former Atlanta Braves players John Smoltz and Ryan Klesko, challenging a U.S. Tax Court ruling that slashed the value of a conservation easement deduction by 90%, won't have their appeal heard by the Eleventh Circuit after the court said Monday the duo had jumped the gun on challenging the decision before it was made final.

  • October 07, 2024

    Mich. Couple Owe $3.3M Tax Debt, US Says

    A Michigan federal court should order the sale of three properties held by a real estate company to satisfy the roughly $3.3 million tax debt of a couple who are the company's nominee owners, the U.S. government said in a complaint Monday.

  • October 07, 2024

    IRS Finalizes Conservation Easement Reporting Rules

    The IRS released final regulations Monday that impose additional reporting requirements under the threat of penalty for partnerships that abuse a conservation easement tax deduction after the agency suffered major losses in court battles that invalidated the original 2017 rules for violating administrative law.

  • October 07, 2024

    DC Circ. Skeptical Of Tax Tipster's Whistleblower Award Bid

    D.C. Circuit judges seemed skeptical Monday of a tax tipster's claim that the U.S. Tax Court had jurisdiction over his case seeking to overturn the IRS' denial of a whistleblower award, saying during oral arguments that the agency had found his tips unproductive early on.

  • October 07, 2024

    Justices Won't Review Contractor's $1.3M R&D Credit Suit

    The U.S. Supreme Court let stand Monday a Fifth Circuit decision denying a construction company's shareholders a six-figure tax refund for the company's $1.3 million research credit claim, denying a petition.

  • October 07, 2024

    TCJA Extension, Biz Tax Cut To Reward Top 5%, Report Says

    Former President Donald Trump's planned extension of the 2017 tax cuts and lowering of corporate rates contribute most among his platform to lowering taxes for the wealthiest 5% and hiking them for everyone else, the left-leaning Institute on Taxation and Economic Policy said Monday in a report.

Expert Analysis

  • Litigation Funding Disclosure Key To Open, Impartial Process

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    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

  • Whistleblowers Must Note 5 Key Differences Of DOJ Program

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    The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.

  • What NFL Draft Picks Have In Common With Lateral Law Hires

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    Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.

  • Replacing The Stigma Of Menopause With Law Firm Support

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    A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.

  • Planning Law Firm Content Calendars: What, When, Where

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    During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.

  • Brownfield Questions Surround IRS Tax Credit Bonus

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    Though the IRS has published guidance regarding the Inflation Reduction Act's 10% adder for tax credits generated by renewable energy projects constructed on brownfield sites, considerable guesswork remains as potential implications seem contrary to IRS intentions, say Megan Caldwell and Jon Micah Goeller at Husch Blackwell.

  • Law Firms Should Move From Reactive To Proactive Marketing

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    Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.

  • The Big Issues A BigLaw Associates' Union Could Address

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    A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.

  • It's Time For A BigLaw Associates' Union

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    As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.

  • Why DOJ's Whistleblower Program May Have Limited Impact

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    The U.S. Department of Justice’s new whistleblower pilot program aims to incentivize individuals to report corporate misconduct, but the program's effectiveness may be undercut by its differences from other federal agencies’ whistleblower programs and its interplay with other DOJ policies, say attorneys at Milbank.

  • How Justices Upended The Administrative Procedure Act

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    In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.

  • Trump's Best Hush Money Appeal Options Still Likely To Fail

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    The two strongest potential arguments former President Donald Trump could raise in appealing his New York hush money conviction seem promising at first, but precedent strongly suggests they will still ultimately fail — though, of course, Trump's unique position could lead to surprising results, says former New York Supreme Court Justice Ethan Greenberg, now at Anderson Kill.

  • Tips For Tax Equity-Tax Credit Transfers That Pass IRS Muster

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    Although the Internal Revenue Service has increased its scrutiny of complex partnership structures, which must demonstrate their economic substance and business purpose, recent cases and IRS guidance together provide a reliable road map for creating legitimate tax equity structures, say Ian Boccaccio and Michael Messina at Ryan Tax.

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