Federal

  • March 22, 2024

    Up Next At High Court: Abortion, Jury Trials And Estate Tax

    The U.S. Supreme Court will hear oral arguments this week over the U.S. Food and Drug Administration's decision expanding access to popular abortion pill mifepristone as well as whether juries should determine a defendants' eligibility for repeat offender enhanced sentencing under the Armed Career Criminal Act and how long federal employees have to appeal adverse employment decisions.

  • March 22, 2024

    Ill. Atty Tampered With Witness In Own Fraud Case, Feds Say

    A Chicago-area lawyer facing criminal tax fraud charges has been slapped with a superseding indictment accusing him of witness tampering by trying to script a bookkeeper's testimony, according to an announcement made Friday.

  • March 22, 2024

    IRS Proposes Annuity Trusts As Listed Transactions

    The Internal Revenue Service unveiled proposed rules Friday that would list certain charitable remainder annuity trusts as transactions that can potentially be abusive tax shelters, requiring additional disclosures under the threat of penalty for participants involved in such arrangements. 

  • March 22, 2024

    Businessman Indicted Over Hiding Of $20M In Swiss Accounts

    A Brazilian-American businessman accused by the government in a criminal complaint of hiding $20 million from the Internal Revenue Service over 35 years by using Swiss bank accounts was indicted by a federal grand jury in Miami and charged with tax evasion, according to a Florida federal court.

  • March 22, 2024

    Stock Buyback Tax Regs Imminent, Treasury Official Says

    Proposed regulations on the federal stock buyback tax will be released imminently and will address feedback on a rule designed to prevent foreign companies from avoiding the tax using U.S. affiliates, a Treasury official said Friday.

  • March 22, 2024

    IRS Opens Bonus Energy Credits To More Offshore Wind Sites

    The Internal Revenue Service unveiled guidance Friday that would allow more parts of offshore wind facilities to qualify for the bonus production and investment tax credits that provide incentives for clean energy projects being built in so-called energy communities.

  • March 22, 2024

    LA Atty Who Repped Rodney King Charged With Tax Evasion

    A Los Angeles attorney who represented Rodney King in a civil case against the city of Los Angeles after King was severely beaten by police has been hit with federal tax evasion charges.

  • March 22, 2024

    3rd Circ. Says Tax Court Has Power To Tackle Debt Offset Case

    A woman whose tax refunds were withheld by the Internal Revenue Service for five years to satisfy what the agency said was her underlying tax liability will get another chance to convince the U.S. Tax Court that the government was wrong, the Third Circuit ruled Friday.

  • March 22, 2024

    IRS Pauses Worker Retention Credit Disclosure Program

    The Internal Revenue Service is suspending its voluntary disclosure program for improperly claimed employee retention credits, the agency announced Friday.

  • March 22, 2024

    Married Doctors Owe Feds $2.9M In Taxes

    A Connecticut physician couple must pay $2.9 million in back taxes, interest and penalties plus statutory additions after a federal court ruled they failed to produce enough evidence to challenge the accuracy of the U.S. government's tax assessments against them.

  • March 22, 2024

    Ariz. Says Federal Tax On Rebates Contradicts IRS Guidance

    A decision by the Internal Revenue Service to impose federal income tax on rebates issued last year by Arizona violates the agency's own recent guidance, the state told a federal court, saying a preliminary injunction against the tax would not unduly burden the agency.

  • March 22, 2024

    Holland & Knight Hires Caplin & Drysdale Member In DC

    Holland & Knight LLP has boosted its Washington-based tax team, hiring a Caplin & Drysdale Chtd. member who first joined his former firm 25 years ago from the U.S. Department of the Treasury.

  • March 22, 2024

    US Unlikely To Move On Hungary Tax Treaty, Official Says

    Hungary's low corporate tax rate and other policies will likely prevent the U.S. government from resuming negotiations on a stalled 2010 tax treaty after terminating its existing Hungarian treaty in early 2023, an IRS official said Friday.

  • March 22, 2024

    IRS Steadily Returning To Pre-Covid Levels, TIGTA Says

    Internal Revenue Service initiatives have reduced some — but not all — document processing back to pre-pandemic levels, the Treasury Inspector General for Tax Administration said in a report.

  • March 22, 2024

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service issued its weekly bulletin Friday, which included rules for businesses substituting certain tax forms.

  • March 21, 2024

    Treasury Hoping Pillar 2 Guidance Favors R&D Tax Credits

    The U.S. Treasury Department is looking for future administrative guidance on the international minimum tax agreement known as Pillar Two to give favorable treatment to U.S. research and development tax credits, but it will likely come with guardrails, a Treasury official said Thursday.

  • March 21, 2024

    Tax Court OKs Collection After Man Fails To Provide Records

    A Georgia man cannot challenge a tax collection action after failing to provide financial records proving he cannot pay a liability, the U.S. Tax Court ruled Thursday.

  • March 21, 2024

    GOP Sens. Push Yellen To Commit To TCJA Extension

    Senate Finance Committee Republicans on Thursday pushed Treasury Secretary Janet Yellen to commit to extending provisions in the Tax Cuts and Jobs Act, including the law's child tax credit expansion and the corporate and individual tax cuts.

  • March 21, 2024

    Man Faces Penalty After Debating Job Status, Tax Court Says

    A Georgia man is responsible for a frivolous filing tax penalty after questioning his employment status, the U.S. Tax Court affirmed Thursday.

  • March 21, 2024

    UN Could Enhance Global Tax Agenda Setting, Officials Say

    The United Nations could play an important role in shaping the agenda for global tax negotiations so it better reflects the priorities and concerns of developing countries, a variety of tax officials said Thursday during a conference.

  • March 21, 2024

    7th Circ. Won't Let Admitted Fraudster Ditch $1.3M Restitution

    A woman who admitted to wire fraud in connection with a three-person scheme to file hundreds of false tax returns owes $1.3 million in restitution to the government, the Seventh Circuit ruled Thursday, rejecting the woman's claim that the amount was miscalculated.

  • March 21, 2024

    IRS Proposes Exceptions For 3rd-Party Summons Notices

    The IRS proposed rules Thursday that would allow some exceptions to a requirement that the agency notify taxpayers within 45 days before issuing summonses to third parties in tax assessment and collection cases, including for certain time-sensitive examinations.

  • March 21, 2024

    Wyden Probes Swiss Bank's Ties To Billionaire Under Scrutiny

    The Senate Finance Committee's Democratic majority launched an inquiry into Swiss bank Pictet Group's involvement with a U.S. billionaire under criminal investigation, raising questions about the bank's deferred prosecution agreement and $123 million fine by the U.S. Justice Department, committee Chairman Ron Wyden announced Thursday.

  • March 21, 2024

    Quintairos Prieto Taps Atlanta Atty To Lead New Tax Group

    Quintairos Prieto Wood & Boyer PA said it had created a tax division that will be led by an Atlanta-based partner who has guided clients on civil and criminal tax law, reinforcing its national expertise in litigation, regulatory and corporate law matters.

  • March 21, 2024

    H&R Block Challenges FTC Judges In False Ad Battle

    H&R Block asked a Missouri federal court to stop administrative law judges from overseeing a Federal Trade Commission proceeding that accuses the tax preparation company of deceptive advertising, claiming the judges have job protections that unconstitutionally shield them from presidential oversight.

Expert Analysis

  • A Proposal For Fairer, More Efficient Innocent Spouse Relief

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    Adding a simple election to the current regulatory framework for innocent spouse claims would benefit both taxpayers and the Internal Revenue Service by alleviating the undue burdens placed on those the program was intended to help and improving agency collections in such cases, says Laurie Kazenoff at Kazenoff Tax.

  • 7 Common Myths About Lateral Partner Moves

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    As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.

  • Proposed Hydrogen Tax Credit Regs May Be Legally Flawed

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    While the recently proposed regulations for the new clean hydrogen production tax credit have been lauded by some in the environmental community, it is unclear whether they are sufficiently grounded in law, result from valid rulemaking processes, or accord with other administrative law principles, say Hunter Johnston and Steven Dixon at Steptoe.

  • Navigating ACA Reporting Nuances As Deadlines Loom

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    Stephanie Lowe at Liebert Cassidy walks employers through need-to-know elements of Affordable Care Act reporting, including two quickly approaching deadlines, the updated affordability threshold, strategies for choosing an affordability safe harbor, and common coding pitfalls.

  • 6 Pointers For Attys To Build Trust, Credibility On Social Media

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    In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.

  • Why Biz Groups Disagree On Ending Chevron Deference

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    Two amicus briefs filed in advance of last month's U.S. Supreme Court oral arguments in Loper Bright Enterprises v. Raimondo highlight contrasting views on whether the doctrine of Chevron deference promotes or undermines the stable regulatory environment that businesses require, say Wyatt Kendall and Sydney Brogden at Morris Manning.

  • US-Chile Tax Treaty May Encourage Cross-Border Investment

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    Provisions in the recently effective U.S.-Chile bilateral income tax treaty should encourage business between the two countries, as they reduce U.S. withholding tax on investment income for Chilean taxpayers, exempt certain U.S. taxpayers from Chilean capital gains tax, and clarify U.S. foreign tax credit rules, say attorneys at Kramer Levin.

  • A Look Ahead For The Electric Vehicle Charging Industry

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    This will likely be an eventful year for the electric vehicle market as government efforts to accelerate their adoption inevitably clash with backlash from supporters of the petroleum industry, say Rue Phillips at SkillFusion and Enid Joffe at Green Paradigm Consulting.

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

  • SG's Office Is Case Study To Help Close Legal Gender Gap

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    As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.

  • Planning A Defense As IRS Kicks Off Sports Losses Campaign

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    Sports team owners and partnerships face potential examination under the Internal Revenue Service’s recently announced sports industry losses campaign, and should be preparing to explain what drove their reported losses and assembling documentation to support their tax return positions and accounting methods, say Sheri Dillon and Jennifer Breen at Morgan Lewis.

  • What New Calif. Strike Force Means For White Collar Crimes

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    The recently announced Central District of California strike force targeting complex corporate and securities fraud — following the Northern District of California's model — combines experienced prosecutorial leadership and partnerships with federal agencies like the IRS and FBI, and could result in an uptick in the number of cases and speed of proceedings, say attorneys at MoFo.

  • Reimagining Law Firm Culture To Break The Cycle Of Burnout

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    While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.

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