Federal

  • May 23, 2024

    Ambulance Co. Owner Accused Of $1M Pandemic Loan Fraud

    The owner of a California ambulance company who was charged last year with tax evasion and filing false returns has been further accused of fraudulently securing $1 million from federal pandemic relief loan programs, according to the U.S. Department of Justice.

  • May 23, 2024

    Yellen Opposes Global Redistribution Of Billionaires' Wealth

    U.S. Treasury Secretary Janet Yellen repeated Thursday that she opposes a global minimum tax on billionaires and added that she does not support basing a redistribution of the revenue from such a tax on damage from climate change and related financing needs.

  • May 23, 2024

    G7 Should Agree On Frozen Russian Assets, Yellen Says

    U.S. Treasury Secretary Janet Yellen said Thursday that the Group of Seven countries should agree now on a concept of how the capital of frozen and immobilized Russian state assets should be used to support Ukraine's war against Russia.

  • May 23, 2024

    Akerman Brings On Kilpatrick Tax Ace In LA

    Akerman LLP is boosting its tax team, bringing in a Kilpatrick Townsend & Stockton LLP corporate tax and energy tax credit expert as a partner in its Los Angeles office.

  • May 22, 2024

    Justices' CFPB Alliance May Save SEC Courts, Not Chevron

    A four-justice concurrence to the U.S. Supreme Court's decision upholding the Consumer Financial Protection Bureau's unique funding scheme last week carries implications for other cases pending before the court that challenge the so-called administrative state, or the permanent cadre of regulatory agencies and career government enforcers who hold sway over vast swaths of American economic life.

  • May 22, 2024

    Hunter Biden's Calif. Tax Trial Pushed From June To Sept.

    A California federal judge on Wednesday moved Hunter Biden's criminal tax trial from June 20 to September over objections from the government and after Biden's attorney said the upcoming date is too close to his client's June 3 gun trial in Delaware, although the judge said no more extensions will be given.

  • May 22, 2024

    Disposal Co. Manager Owes Tax With Ex, Tax Court Says

    A disposal company manager who accused his ex-wife of committing fraud in preparing their tax return owes his share of taxes with her for a disallowed deduction they took for a vehicle his employers provided for his job, the U.S. Tax Court said.

  • May 22, 2024

    Taxpayers Received $90M In Refunds In Direct Filing Pilot

    Taxpayers who used the IRS' Direct File pilot program this year took an average of 20 minutes to file a return and received more than $90 million in refunds, but no decision has been reached on whether to expand the free program or make it permanent, the agency said Wednesday.

  • May 22, 2024

    IRS To Extend Free File Program For 5 Years

    The Internal Revenue Service has agreed to a five-year extension of the Free File program, in which tax software businesses offer their return preparation and filing products free to the lowest 70% of taxpayers by adjusted gross income, the agency announced Wednesday.

  • May 22, 2024

    IRS Didn't Honor Partnership's Audit Election, Tax Court Says

    The U.S. Tax Court invalidated a tax liability determination by the IRS for an Ohio partnership for 2016, saying in a ruling Wednesday that the partnership had made a valid election to undergo a special audit process and the agency had failed to honor it.

  • May 22, 2024

    Bipartisan Bill Would Make US Presidents' Tax Returns Public

    Presidents and vice presidents would be required to disclose their tax returns for the two years preceding their time in office under legislation introduced Wednesday by House Oversight and Accountability Committee Chairman James Comer.

  • May 22, 2024

    Judge Not Entitled To Deduct Expenses, Tax Court Says

    A part-time administrative law judge for the state of California can't deduct $25,000 in unreimbursed employee business expenses because his wages are not considered the sort of fees that would allow it, the U.S. Tax Court ruled Wednesday.

  • May 22, 2024

    IRS Opens $6B Advanced Energy Tax Credit Allocation Portal

    The application portal is open through June 21 for manufacturers seeking a share of a second-round $6 billion tax-credit allocation for their development projects that support the clean energy industry, the Internal Revenue Service announced Wednesday.

  • May 22, 2024

    IRS Again Delays Reporting Rules for Certain BEAT Payments

    The Internal Revenue Service is deferring until 2027 the applicability date of requirements for reporting certain intercompany payments that are exempt from the base erosion and anti-abuse tax, the agency announced Wednesday.

  • May 22, 2024

    IRS Misses 10% Improper Payment Goal Again, TIGTA Says

    The Internal Revenue Service again failed to reduce the rate at which it makes incorrect payments to 10% in 2023, a goal set by 2019 legislation, the Treasury Inspector General for Tax Administration said Wednesday.

  • May 22, 2024

    'Ghost' Prepper, Feds Agree To Shut Down Tax Businesses

    A Connecticut businessman accused by the federal government of "ghost preparing" his customers' taxes and inflating their refunds by putting false information on their IRS paperwork has agreed to shut down his businesses in a cashless settlement.

  • May 22, 2024

    BofA Deserves Tax Refunds On Merger Interest, 4th Circ. Told

    The IRS should not have been allowed to keep the interest paid on 23 years' worth of tax underpayments by seven companies that merged into Bank of America, the company told the Fourth Circuit, arguing that the underpayments should be offset by overpayments under merger law.

  • May 22, 2024

    IRS Again Delaying Dividend Anti-Abuse Regs

    The Internal Revenue Service is again extending the transition period for rules that govern certain financial transactions that could avoid withholding on dividend payments to foreign taxpayers, it announced Wednesday.

  • May 21, 2024

    FTC Noncompete Ban Raises Stakes For Nonprofit Hospitals

    The Federal Trade Commission seems eager to apply its employee noncompete ban to healthcare, with a key target in mind: nonprofit healthcare providers that, in the agency's view, act more like for-profit businesses.

  • May 21, 2024

    House Sends Disaster Tax Relief Bill To Senate

    The U.S. House of Representatives overwhelmingly passed legislation Tuesday that would exclude disaster relief payments from a taxpayer's gross income, sending the bill to the Senate.

  • May 21, 2024

    Nixing Green Energy Tax Perks Would Be Tough For Trump

    Former President Donald Trump has vowed to scrap Democrats' signature 2022 climate law should he get reelected in November, but following through on that campaign promise could prove difficult amid bipartisan support for many of the law's clean energy tax incentives and a potentially divided Congress.

  • May 21, 2024

    Wyden Expands Pharma Tax Investigation With Pfizer Inquiry

    Senate Finance Committee Chairman Ron Wyden asked Pfizer to provide details on its tax practices to explain how the drug company has consistently paid tax rates that are significantly lower than the corporate tax rate in a letter released by the committee Tuesday.

  • May 21, 2024

    Option Agreement In $6.9M Sale Not A Sham, Tax Court Says

    A Delaware gravel company and related companies that sold a freeway pit for $6.9 million under an option agreement, and then used it to enter into a like-kind exchange for another property, deferring the tax, was not a tax-avoidance sham, the U.S. Tax Court ruled Tuesday.

  • May 21, 2024

    CohnReznick Adds PwC Partner To International Tax Practice

    CohnReznick has a new principal in its international tax practice who previously served as a partner at PwC, the firm announced.

  • May 21, 2024

    Decision On Direct File Future Is Close, Werfel Says

    The Internal Revenue Service is nearing a decision on the future of its free electronic tax return filing pilot program, Commissioner Daniel Werfel told reporters Tuesday.

Expert Analysis

  • Navigating Discovery Of Generative AI Information

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    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • Unlocking Value In Carve-Out M&A Transactions

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    Some of the largest mergers and acquisitions in 2023 were carve-out transactions, and despite their unique intricacies and challenges, these transactions offer both buyers and sellers the opportunity to generate outsized returns in an otherwise vigorously competitive landscape, when carefully planned and diligently executed, say Kevin Crews and Rami Totari at Kirkland.

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

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    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • 1st Tax Easement Convictions Will Likely Embolden DOJ, IRS

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    After recent convictions in the first criminal tax fraud trial over allegedly abusive syndicated conservation easements, the IRS and U.S. Department of Justice will likely pursue other promoters for similar alleged conspiracies — though one acquittal may help attorneys better evaluate their clients' exposure, say Bill Curtis and Lauren DeSantis-Then at Polsinelli.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • Anticipating Intensified Partnership Enforcement From IRS

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    The Internal Revenue Service's decadeslong difficulties with partnership audits led to the recent announcement of a clear, well-funded, focused initiative, and businesses operating in the partnership form will feel the impact, with definite changes ahead, says Sharon Katz-Pearlman at Greenberg Traurig.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

  • The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'

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    The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.

  • Newman Suspension Shows Need For Judicial Reform

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    The recent suspension of U.S. Circuit Judge Pauline Newman following her alleged refusal to participate in a disability inquiry reveals the need for judicial misconduct reforms to ensure that judges step down when they can no longer serve effectively, says Aliza Shatzman at The Legal Accountability Project.

  • How And Why Your Firm Should Implement Fixed-Fee Billing

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    Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • While Risks Exist, AI Could Transform IRS Enforcement

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    The Internal Revenue Service's recently announced use of artificial intelligence could revolutionize the agency's enforcement efforts, and transparency about its use and a forum for challenging AI findings could help mitigate fears that the technology will increase bias, say attorneys at Lewis Brisbois.

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