Federal

  • March 19, 2025

    6th Circ. Says Pharmacist Doesn't Owe Tax On Forfeited IRA

    A pharmacist doing time for running a Kentucky pill mill doesn't owe taxes on his forfeited retirement account, the Sixth Circuit ruled Wednesday, reversing a U.S. Tax Court decision that upheld what the appeals court described as an unexpected punishment.

  • March 19, 2025

    Satellite Startup Execs Accused Of Fraud And Tax Evasion

    An aerospace company's founder, an attorney and other executives lied about a venture to launch billions of dollars in satellites so they could rake in millions from investors, according to an indictment in D.C. federal court that also charges the founder with tax crimes.

  • March 19, 2025

    Goldstein Says Feds 'Misled' Court With Obstruction Claim

    U.S. Supreme Court lawyer and SCOTUSblog publisher Tom Goldstein wants a Maryland federal judge to sanction prosecutors in his tax evasion case for a "pattern of false and misleading statements" to the court accusing him of hiding millions in cryptocurrency and bribing his former law firm manager.

  • March 19, 2025

    DC Judge Won't Preemptively Stop IRS Data Sharing With DHS

    A D.C. federal judge on Wednesday said two immigrant rights groups had not shown that the IRS is poised to unlawfully share noncitizen taxpayer records with immigration enforcement authorities, rejecting their bid for a court order that would preemptively block any information transfer.

  • March 19, 2025

    Law360 Announces The Members Of Its 2025 Editorial Boards

    Law360 is pleased to announce the formation of its 2025 Editorial Advisory Boards.

  • March 19, 2025

    Taxpayer Advocacy Joint Committee To Meet In April

    The Taxpayer Advocacy Panel's Joint Committee will meet April 21 following a string of meetings by individual subcommittees earlier in the month, the Internal Revenue Service said Wednesday.

  • March 18, 2025

    Tax Court Sides With IRS Deeming Debt 'Seriously Delinquent'

    A Florida man's tax debt was property certified by the Internal Revenue Service as "seriously delinquent" and reported to the U.S. secretary of state to bar him from obtaining or renewing a passport, the U.S. Tax Court said Tuesday.

  • March 18, 2025

    Express Scripts Denied Tax Break For Software In $43M Suit

    Express Scripts is not entitled to a tax deduction for domestic production activities related to its software because it did not grant licenses to pharmacy benefit plan sponsors who used it, a Missouri federal court said Tuesday, denying the company's request for a tax refund in its $43 million case.

  • March 18, 2025

    Tax Court Cleared To Resolve IRS Offset Feud, Justices Told

    The U.S. Tax Court can still adjudicate a case challenging an Internal Revenue Service collection action even after the agency tried to improperly zero out the disputed liability in an attempt to dismiss the suit, a New Jersey woman told the U.S. Supreme Court.

  • March 18, 2025

    Trump Hasn't Asked IRS For Immigrants' Tax Info, Gov't Says

    The IRS hasn't received any requests from President Donald Trump for immigrants' tax return information and hasn't released any such information to the U.S. Department of Homeland Security, the government told a D.C. federal court in opposing a restraining order sought by immigrant rights groups.

  • March 18, 2025

    5th Circ. Backs La. Doctor's Tax Evasion Conviction

    The Fifth Circuit declined to overturn a Louisiana doctor's felony tax evasion conviction, rejecting her contention that jurors received muddied instructions that led to her being wrongly found guilty of dodging $1.6 million taxes and sentenced to more than four years in federal prison.

  • March 18, 2025

    Judge Probes Atty Conflict In Vanguard $40M Settlement

    A Pennsylvania federal judge questioned whether attorneys representing investors suing Vanguard over surprise tax bills have a conflict of interest in pushing for a $40 million settlement, adding to concerns about a parallel regulatory settlement that has delayed approval of the deal.

  • March 17, 2025

    Florida Businessman Pleads Guilty To Hiding $20M From IRS

    A Florida businessman faces up to five years in prison after he pled guilty Monday to hiding $20 million in Swiss bank accounts from the Internal Revenue Service.

  • March 17, 2025

    Split 9th Circ. Won't Halt Federal Workers Reinstatement Order

    A divided Ninth Circuit panel on Monday denied President Donald Trump's administration an immediate administrative stay of a California district court order requiring reinstatement of some probationary federal workers fired from six agencies, the majority saying a pause "would disrupt the status quo and turn it on its head."

  • March 17, 2025

    The Tax Angle: Lawmakers Huddle To Mull TCJA

    From a look at the three-day legislative retreat held by House Democrats to Ways and Means Republicans meeting behind closed doors to discuss the 2017 GOP tax overhaul, here's a peek into a reporter's notebook on a few of the week's developing tax stories.

  • March 17, 2025

    $19M In Partner Shares Not Earnings, Co. Tells Tax Court

    A New York-based investment partnership accused the Internal Revenue Service of wrongly increasing its income subject to self-employment taxes by about $19 million by misclassifying its limited partners to include their shares, according to a U.S. Tax Court petition.

  • March 17, 2025

    10th Circ. Grapples With Liberty Global's $248M Tax Credit Bid

    A Tenth Circuit panel questioned Monday whether Liberty Global is entitled to $248 million in foreign tax credits for the sale of a Japanese affiliate, or if legislation limits the telecommunications giant from classifying the gains as overseas income.

  • March 17, 2025

    Kleinberg Kaplan Adds Simpson Thacher Atty As Tax Partner

    Kleinberg Kaplan announced Monday that it has added a Simpson Thacher & Bartlett LLP attorney to help provide clients with expertise on tax aspects of private investment fund formation and operation, as well as mergers and acquisitions, joint ventures and financings.

  • March 17, 2025

    Coloradan Owes FBAR Penalty After Failing To Appear

    An elderly Colorado man who failed to respond to the government's claim that he owed $482,000 for failing to report his foreign bank accounts is on the hook for the bill, a federal court ruled.

  • March 17, 2025

    High Value Dubious In $23M Easement Dispute, 11th Circ. Told

    A partnership that claimed a $23 million tax deduction for a conservation easement donation failed to consider the lack of market demand for a potential quarry it used to justify the land's high value, the U.S. government told the Eleventh Circuit.

  • March 17, 2025

    Applicable Federal Rates To Drop Again In April

    Applicable federal rates for income tax purposes are set to decrease in April for the second month in a row, the Internal Revenue Service said Monday.

  • March 17, 2025

    Six Taxpayer Advocacy Panel Committees To Meet In April

    Six Taxpayer Advocacy Panel committees will meet in April to discuss possible improvements to customer services, the Internal Revenue Service said Monday.

  • March 14, 2025

    $20 Billion IRS Funding Freeze To Continue

    The Internal Revenue Service would continue to be blocked from accessing more than $20 billion in Inflation Reduction Act funding under legislation the Senate passed Friday that paves the way for the government to keep running.

  • March 14, 2025

    Par Funding Conspirator Gets 11 Years For Fraud, Atty Assault

    A Pennsylvania federal judge has sentenced Par Funding principal James "Jimmy" LaForte to 11 years and four months in prison for helping his family run a $404 million racketeering conspiracy and violently assaulting Par Funding receivership's court-appointed counsel in a position prosecutors described as the loan company's "loyal attack dog."

  • March 14, 2025

    Judge Trims Investor's Bid To Rescind Funds From Pot Co.

    A Florida federal judge has found that an investor can't rescind a deal or claim fraud through common law in a suit alleging that the officers and agents of a cannabis company hid a $13 million tax liability when he invested.

Expert Analysis

  • 5 E-Discovery Predictions For 2025 And Beyond

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    In the year to come, e-discovery will be shaped by new and emerging trends, from the adoption of artificial intelligence provisions in protective orders, to the proliferation of emojis as a source of evidence in contemporary litigation, say attorneys at Littler.

  • What's Ahead As Transparency Act Comes To A Crossroads

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    Synthesizing the contrasting federal district and appellate court rulings on the Corporate Transparency Act’s validity reveals several main areas of debate that will likely remain at issue as challenges to the law continue winding through the courts, say attorneys at Farella Braun.

  • Final Hydrogen Tax Credit Regs Add Flexibility For Producers

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    The recently released final regulations implementing the Inflation Reduction Act's clean hydrogen production tax credit offer taxpayers greater flexibility, reducing risk and creating more certainty for investments in the industry, thus diminishing — but not eliminating — the risk of legal challenges to the regulations, say attorneys at Steptoe.

  • 5 Evolving Concerns For Family Offices In 2025

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    Complex regulatory changes and emerging operational risks will force family offices to stay on their toes in 2025, with timely action particularly necessary to address several tax and reporting developments that may affect their investments and business operations, say attorneys at Morgan Lewis.

  • 7 Ways 2nd Trump Administration May Affect Partner Hiring

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    President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.

  • E-Discovery Quarterly: Rulings On Custodian Selection

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    Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.

  • A Look At PCAOB's Record-Breaking Enforcement In 2024

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    The Public Company Accounting Oversight Board in 2024 brought more enforcement actions against auditors and imposed increasingly higher monetary penalties, showing that it was not afraid to exercise its power to fine and reprimand firms, a trend that will likely continue in 2025, say attorneys at Briglia Hundley.

  • Exploring Venue Strategy For Trump-Era Regulatory Litigation

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    Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.

  • An Associate's Guide To Career Development In 2025

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    As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.

  • Fixing Up Cars Makes Me A Better Lawyer

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    From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.

  • A New Tax On Employers Could Help Curb Illegal Immigration

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    To better enforce the law against hiring immigrants unauthorized to work in the U.S., Congress should enact a punitive excise tax on compensation paid to such immigrants and amend the False Claims Act to allow qui tam actions against employers for failure to pay such tax, says Ajay Gupta at Moore Tax Law Group.

  • Making The Pitch To Grow Your Company's Legal Team

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    In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.

  • Justices May Find Gov't Can Keep Fraudulent Transfer Benefit

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    Based on the justices' questions at the recently argued U.S. v. Miller, the Supreme Court appears prepared to hold that the U.S. — unlike any other creditor — is permitted to retain the benefits of a fraudulent transfer to the detriment of other bankruptcy creditors, says Kevin Morse at Clark Hill.

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