Federal

  • January 06, 2025

    House Speaker Sets April Target For Tax Law Extension Vote

    The House of Representatives will send a reconciliation bill to the Senate by the end of April that will include major Republican priorities, including the renewal of Tax Cuts and Jobs Act provisions scheduled to expire at the end of the year, House Speaker Mike Johnson said.

  • January 06, 2025

    Judge Allows Sale Of Shared Dental Practice To Satisfy Taxes

    The federal government can foreclose on a jointly owned dental practice to satisfy the roughly $500,000 tax debt of one of its partners, a New Jersey federal court ruled Monday, rejecting the request of a partner dentist who urged the court to spare his share.

  • January 06, 2025

    Convicted Atty Who 'Lost Everything' Fights To Keep License

    A Philadelphia-based personal injury attorney who was convicted for not paying income tax on more than $8 million in revenue he earned and for failing to pay almost $60,000 in payroll taxes argued Monday he should not permanently lose his ability to practice law in New Jersey.

  • January 06, 2025

    Tax Whistleblower Urges High Court To Review $690M Claim

    A whistleblower is asking the U.S. Supreme Court to review his claim for up to $690 million as his share of the $2.3 billion recovered through Internal Revenue Service investigations that he said resulted from his cooperation.

  • January 06, 2025

    Proskauer Adds New Funds Partners In NY, DC

    Proskauer Rose LLP announced Monday it has rung in the new year by adding two new partners to its private funds group, with the addition of a tax expert from Schulte Roth & Zabel LLP in New York and a regulatory specialist from the SEC in Washington, D.C.

  • January 06, 2025

    US Wants More Time To Counter Altria's $106M Tax Refund Bid

    Tobacco giant Altria's complaint seeking a $106 million tax refund related to its interests in beverage company Anheuser-Busch requires more research to counter in the event a Virginia federal court decides it can move forward, the U.S. government said in requesting time for potential discovery.

  • January 03, 2025

    Senate Finance Committee Adds Six New Members

    Six lawmakers, including Sen. Bernie Sanders, have joined the Senate Finance Committee for the 119th Congress, Committee Chairman Mike Crapo said in a statement Friday.

  • January 03, 2025

    Treasury Unveils Flexible Final Regs For Hydrogen Tax Credit

    The U.S. Treasury Department released final rules Friday for hydrogen production tax credits that allow fuel produced using nuclear-generated electricity or methane to qualify for the incentive, making the regulations more flexible than what was proposed last year.

  • January 03, 2025

    Potomac Law Group Adds Longtime Tax Leader From Day Pitney

    After an end-of-the-year hiring spree in which Potomac Law Group added four former Rimon PC attorneys, PLG has started 2025 by adding the former leader of Day Pitney's multistate tax practice to its ranks.

  • January 03, 2025

    Trump Taps Former Hill Staffer For Assistant Tax Policy Role

    President-elect Donald Trump has tapped a longtime tax policy lobbyist to serve as the assistant secretary for tax policy at the U.S. Department of the Treasury during his coming second term.

  • January 03, 2025

    Prison Delay Denied For Broker In $22M Tax Scheme

    An insurance broker sentenced to five years in prison for participating in a $22 million tax scheme must begin serving his term after a North Carolina federal judge on Friday denied him a delay to help his new counsel prepare his appeal.

  • January 03, 2025

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's weekly bulletin, issued Friday, included an updated start date for when some must start to withdraw the required minimum amount of funds from several types of individual retirement accounts, pushing it back to 2026.

  • January 02, 2025

    Tax Court Upholds Nix Of $24M Deduction For Easement

    A partnership that donated a preservation easement over a building in a historic district is not entitled to a nearly $24 million tax deduction, the U.S. Tax Court affirmed Thursday, saying the building was not listed on the National Register of Historic Places or federally certified.

  • January 02, 2025

    Retirement Trustee Liable For Fraud Penalty, Tax Court Finds

    A trustee and fiduciary of two retirement plans who diverted $5.3 million from the plans for his personal benefit willfully and fraudulently intended to evade tax on his unreported income and is liable for a fraud penalty, the U.S. Tax Court held Thursday.

  • January 02, 2025

    Crypto Groups Challenge Decentralized Finance Broker Rule

    Three cryptocurrency industry groups have teamed up to challenge a final U.S. Treasury Department rule implementing additional reporting requirements for decentralized finance brokers, telling a Texas federal court that the rule is unconstitutional and could destroy the industry.

  • January 02, 2025

    Republicans Want Yellen To Answer For Chinese Cyberattack

    Congressional Republicans want U.S. Treasury Secretary Janet Yellen to explain how a Chinese state-sponsored entity hacked into Treasury's computer systems and accessed potentially sensitive information.

  • January 02, 2025

    Feds Ask High Court To Unpause Corporate Transparency Law

    The federal government is asking the U.S. Supreme Court to lift a Texas judge's injunction against the Corporate Transparency Act, telling the justices in a new application that the 2021 anti-money laundering law's compliance deadlines should take effect while the Fifth Circuit hears the full case.

  • January 02, 2025

    Thomson Reuters Bolsters Tax Ops With $600M SafeSend Buy

    Thomson Reuters Corp. has acquired SafeSend, a cloud-based provider of technology for tax and accounting professionals, for $600 million in cash, the Toronto-based data and content conglomerate said in a statement Thursday.

  • January 02, 2025

    IRS, Treasury Float Regs On Excise Taxes For Drugmakers

    The IRS and Treasury proposed rules for charging excise taxes to drugmakers that refuse to negotiate drug prices with Medicare under requirements of the 2022 tax and climate law, saying the tax only would apply to manufacturers and importers that initially sell the drugs.

  • January 02, 2025

    Consolidated Return Regs Revised With Gender-Neutral Terms

    The IRS and Treasury finalized rules for companies that file consolidated federal income tax returns, saying the new regulations provide needed modernizations to terminology, including removing gender-specific pronouns.

  • January 02, 2025

    Feds Want 6 Years For Ex-FBI Informant Who Smeared Bidens

    Prosecutors told a California federal judge that a former FBI informant who falsely told agents that a Ukrainian energy company had paid off President Joe Biden and his son Hunter should be sentenced to six years in prison, saying he betrayed the United States by trying to influence the 2020 election even after being granted citizenship.

  • January 01, 2025

    US International Tax Issues to Watch In 2025

    As President-elect Donald Trump and Republicans take control of the U.S. government in 2025, policymakers are expected to address changing international provisions in the Internal Revenue Code and reevaluate the country's role in global tax talks. Here, Law360 examines key U.S. international tax policy issues to watch in the new year.

  • January 01, 2025

    The Top 5 High Court Cases To Watch This Spring

    The U.S. Supreme Court justices will return from the winter holidays to tackle major First Amendment questions and several administrative law disputes — all arising from the Fifth Circuit — that could further change how federal agencies promulgate rules and defend them.

  • January 01, 2025

    Federal Tax Policy To Watch In 2025

    While Republicans will hold majorities in both chambers of Congress in 2025, internal party divisions and procedural hurdles could complicate the GOP's effort to renew its 2017 tax overhaul law. Here, Law360 details federal tax policy to watch this year.

  • January 01, 2025

    Top International Tax Cases To Watch In 2025

    Major multinational corporations such as 3M and Coca-Cola will continue to litigate high-stakes international tax cases during 2025, including transfer pricing disputes with billions of dollars on the line and fights against regulations that allegedly exceed the government's authority. Here, Law360 looks at six key international tax cases to follow in the new year.

Expert Analysis

  • 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.

  • Class Actions At The Circuit Courts: July Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers cases touching on pre- and post-conviction detainment conditions, communications with class representatives, when the American Pipe tolling doctrine stops applying to modified classes, and more.

  • Now More Than Ever, Lawyers Must Exhibit Professionalism

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    As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.

  • Reading Between The Lines Of Justices' Moore Ruling

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    The U.S. Supreme Court's recent Moore v. U.S. decision, that the Internal Revenue Code Section 965 did not violate the 16th Amendment, was narrowly tailored to minimally disrupt existing tax regimes, but the justices' various opinions leave the door open to future tax challenges and provide clues for what the battles may look like, say Caroline Ngo and Le Chen at McDermott.

  • A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates

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    Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.

  • States Should Loosen Law Firm Ownership Restrictions

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    Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.

  • After Chevron: Uniform Tax Law Interpretation Not Guaranteed

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    The loss of Chevron deference will significantly alter the relationship between the IRS, courts and Congress when it comes to tax law, potentially precipitating more transparent rulemaking, but also provoking greater uncertainty due to variability in judicial interpretation, say Michelle Levin and Carneil Wilson at Dentons.

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