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Federal
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June 05, 2026
11th Circ. Lets Man Fight $2.2M FBAR Penalties As Excessive
A Georgia federal court correctly found that the owner of a sports equipment business willfully failed to disclose his foreign bank accounts, but it must give him a chance to challenge $2.2 million in resulting penalties as excessive under the Eighth Amendment, the Eleventh Circuit said.
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June 05, 2026
IRS To Release Guidance On Tax-Exempt Org. Pay Excise Tax
The IRS is planning to issue proposed guidance on the expanded 21% excise tax on excess compensation at tax-exempt organizations, including updated definitions that align with changes passed under Republicans' 2025 tax overhaul, according to a notice released Friday.
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June 05, 2026
Abbott Says Timing Mismatch Lets $8B Gain Go Untaxed
Abbott Laboratories asked the U.S. Tax Court to find that it needn't recognize an $8 billion gain in 2020 from transactions between several of its controlled foreign corporations because of a mismatch in the effective dates of different sections of the 2017 U.S. Tax Cuts and Jobs Act.
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June 05, 2026
Judge Asks How FCC Ruling Affects $6.6M IRS Penalty Fight
A Pennsylvania federal judge ordered briefing on how the U.S. Supreme Court's new decision upholding agency fines without a jury trial affects a $6.6 million tax penalty dispute, signaling potential reconsideration of last year's opinion in the case.
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June 05, 2026
Taxation With Representation: Simpson Thacher, Fried Frank
In this week's Taxation With Representation, Berkshire Hathaway Inc. takes Taylor Morrison Home Corp. private, global real estate investment company Kennedy Wilson forms a residential joint venture with Netherlands pension services provider APG, and Wellington Management acquires Hartford Funds from insurer The Hartford.
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June 05, 2026
Weekly Internal Revenue Bulletin
The Internal Revenue Service's weekly bulletin, released Friday, included an extension for sponsors of certain defined contribution retirement plans to amend the plans to allow qualified long-term care distributions.
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June 04, 2026
Jury Hears Closings In Trial Over Alleged Tax Shelter Scheme
Prosecutors told a Colorado federal jury Thursday that four individuals defrauded the government by using their businesses to help promote and sell abusive and illegal trust tax shelters, while the defendants argued they lacked knowledge of the alleged scheme and can't be held responsible.
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June 04, 2026
Bessent Mum On Details Of Trump-IRS Settlement
Treasury Secretary Scott Bessent gave House Democrats few answers Thursday to their questions on the scope and limitations of President Donald Trump's settlement with the IRS over the leak of his tax data that includes an exemption from tax audits for Trump and members of his family.
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June 04, 2026
Tax Court Confirms IRS Computations In Easement Case
A partnership, in objecting to IRS computations, improperly raised new arguments in a case where the U.S. Tax Court reduced a conservation easement deduction by over $10 million, the tax court said in upholding the agency's calculations, which included a 40% penalty.
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June 04, 2026
Feds Appeal Trade Court's Emergency Tariff Refund Order
The federal government has appealed the U.S. Court of International Trade's order requiring refunds on all duties paid under the International Emergency Economic Powers Act after the U.S. Supreme Court struck them down this year, according to filings in the trade court and Federal Circuit.
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June 04, 2026
IRS To Hold Hearing On Trump Accounts In July
The Internal Revenue Service will hold a public hearing July 16 on proposed rules related to the new tax-advantaged brokerage accounts for newborns called Trump accounts, the agency said Thursday.
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June 04, 2026
Ex-Surgeon Agrees To $7.7M Tax Bill From Offshore Scheme
A retired plastic surgeon reached a $7.7 million settlement with the federal government to resolve an Internal Revenue Service case alleging that he ran an offshore employee leasing scheme, according to an agreement filed in an Ohio federal court.
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June 04, 2026
Californian's Crypto Staking Rewards Taxable, Tax Court Says
A California man's cryptocurrency staking rewards, in the form of additional tokens for supporting a blockchain platform, are taxable income, a U.S. Tax Court judge ruled Thursday, saying he could have converted the tokens into cash at any time.
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June 04, 2026
Goldstein Seeks Sentencing Delay, Citing New Tax Claims
SCOTUSblog founder Thomas Goldstein renewed his push Wednesday in Maryland federal court for a delayed sentencing, saying prosecutors blindsided his defense by including additional uncharged years of alleged tax avoidance in the government's sentencing memorandum.
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June 04, 2026
Blanche's AG Bid Could Face Rocky Path In Senate
Acting Attorney General Todd Blanche will be tapped for the permanent role, but he might not have a smooth path to confirmation.
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June 04, 2026
Tax Court Didn't Err In Voiding $713M Deduction, IRS Says
A real estate development partnership failed to show that the U.S. Tax Court made errors that undermined its ruling eliminating a $713 million deduction to the partnership for 2012, the IRS argued, saying the court shouldn't gratuitously decide issues that don't affect a case's disposition.
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June 03, 2026
Dems Press Bessent On 'Weaponization' Fund, Trump Audits
Senate Democrats questioned Treasury Secretary Scott Bessent on Wednesday about details of a settlement that included a since-dropped plan for a $1.8 billion fund that could have been used to pay off Jan. 6 defendants and an exemption from IRS audits for President Donald Trump and members of his family.
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June 03, 2026
Texas Instruments Defends Deductions For Exercised Options
Texas Instruments challenged total deficiencies of $47.9 million for 2018 and 2019, much of it from the IRS' disallowance of deductions for deferred compensation, such as exercised stock options, under an approach consistent with a 2022 agency advice memorandum.
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June 03, 2026
Purdue Pharma Heir Sues Son Over Sackler Matriarch's Estate
Former Purdue Pharma LP President Richard Sackler has appealed a Connecticut probate court decision favoring his son David Sackler in a dispute over his mother Beverly Sackler's estate, saying a judge ignored self-dealing rules when approving his son's request to assign trust interests to a public charity.
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June 03, 2026
Goldstein Cites Addiction To Avoid Time, DOJ Seeks 8 Years
Federal prosecutors recommended a 97-month prison sentence for convicted SCOTUSblog founder Thomas Goldstein, telling a Maryland federal court he has bilked the government out of more than $9.5 million in unpaid taxes. Goldstein, meanwhile, asked for a suspended sentence and supervised release, citing a "severe and longstanding gambling addiction."
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June 03, 2026
Graham Pushes Federal Tort Path After DOJ Drops $1.8B Fund
The U.S. Department of Justice seemed, at least briefly, to support a Republican senator's alternative solution to the "anti-weaponization" $1.8 billion fund that acting Attorney General Todd Blanche said Tuesday the department is abandoning.
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June 03, 2026
USTR Floats Double-Digit Tariffs On Basis Of Forced Labor
Sixty economies are facing added tariffs of either 10% or 12.5% on their exports to the U.S. following investigations by the U.S. Trade Representative's Office into countries' protections against the importing of goods produced with forced labor.
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June 03, 2026
Iran War Driving Slower Growth, Surging Inflation, OECD Says
The Iran war is driving slower growth and surging inflation across the global economy, and U.S. tariff policy is adding to uncertainty, the OECD said Wednesday during a virtual news conference.
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June 03, 2026
Trust Tax Scheme Leader Gets More Than 7 Years In Prison
A Texan who led an $8.5 million tax scheme involving trusts was sentenced to more than seven years in prison, making him the last defendant to be sentenced in a family-run operation, according to the U.S. Department of Justice.
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June 03, 2026
USTR Seeks Input On China Preferential Trade Mechanism
The Office of the U.S. Trade Representative announced what it is calling a government-to-government mechanism that will manage bilateral trade between the U.S. and China, including by considering tariff cuts, and asked for public comments on the program's development.
Expert Analysis
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Judges On AI: How Judicial Use Informs Guardrails
U.S. Magistrate Judge Maritza Dominguez Braswell at the U.S. District Court for the District of Colorado discusses why having a sense of how generative AI tools behave, where they add value, where they introduce risk and how they are reshaping the practice of law is key for today's judges.
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Presidential Pardon Brokering Can Create Risks For Attys
The emergence of an apparent “pardon shopping” marketplace, in which attorneys treat presidential pardons as a market product, may invite investigative scrutiny of counsel and potential criminal charges grounded in bribery, wire fraud and other statutes, says David Klasing at The Tax Law Offices of David W. Klasing.
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Key False Claims Act Trends From The Last Year
The False Claims Act remains a powerful enforcement tool after some record verdicts and settlements in 2025, and while traditional fraud areas remain a priority, new initiatives are raising questions about its expanding application, says Veronica Nannis at Joseph Greenwald.
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Hosting Exchange Students Makes Me A Better Lawyer
Opening my home to foreign exchange students makes me a better lawyer not just because prioritizing visiting high schoolers forces me to hone my organization and time management skills but also because sharing the study-abroad experience with newcomers and locals reconnects me to my community, says Alison Lippa at Nicolaides Fink.
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How A 1947 Tugboat Ruling May Shape Work Product In AI Era
Rapid advances in generative artificial intelligence test work-product principles first articulated in the U.S. Supreme Court’s nearly 80-year-old Hickman v. Taylor decision, as courts and ethics bodies confront whether disclosure of attorneys’ AI prompts and outputs would reveal their thought processes, say Larry Silver and Sasha Burton at Langsam Stevens.
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Navigating Privilege Law Patchwork In Dual-Purpose Comms
Three years after the U.S. Supreme Court declined to resolve a circuit split in In re: Grand Jury, federal courts remain split as to when attorney-client privilege applies to dual-purpose legal and business communications, and understanding the fragmented landscape is essential for managing risks, say attorneys at Covington.
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Cannabis Industry Faces An Inflection Point This Year
Cannabis industry developments last year — from the passage of a new wholesale tax in Michigan, to an executive order accelerating the federal rescheduling process — presage a more mature phase of legalization this year, with hardening expectations and enforcement to come, says Alex Leonowicz at Howard & Howard.
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4 Ways GCs Can Manage Growing Service Of Process Volume
As automation and arbitration increase the volume of legal filings, in-house counsel must build scalable service of process systems that strengthen corporate governance and manage risk in real time, says Paul Mathews at Corporation Service Co.
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The Law Firm Merger Diaries: Forming Measurable Ties
Relationship-building should begin as early as possible in a law firm merger, as intentional pathways to bringing people together drive collaboration, positive client response, engagements and growth, says Amie Colby at Troutman.
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3 Key Takeaways From Planned Rescheduling Of Cannabis
An executive order reviving cannabis rescheduling represents a monumental change for the industry and, while the substance will remain illegal at the federal level, introduces several benefits, including improving state-legal cannabis operators' tax treatment, lowering the industry's legal risk profile, and leaving state-regulated markets largely intact, say attorneys at Dentons.
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OFAC Sanctions Will Intensify Amid Global Tensions In 2026
The Office of Foreign Assets Control will ramp up its targeting of companies in the private equity, venture capital, real estate and legal markets in 2026, in keeping with the aggressive foreign policy approach embraced by the Trump administration in 2025, say attorneys at Holland & Knight.
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5 E-Discovery Predictions For 2026 And Beyond
2026 will likely be shaped by issues ranging from artificial intelligence regulatory turbulence to potential evidence rule changes, and e-discovery professionals will need to understand how to effectively guide the responsible and defensible adoption of emerging tools, while also ensuring effective safeguards, say attorneys at Littler.
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Judges On AI: How Courts Can Boost Access To Justice
Arizona Court of Appeals Judge Samuel A. Thumma writes that generative artificial intelligence tools offer a profound opportunity to enhance access to justice and engender public confidence in courts’ use of technology, and judges can seize this opportunity in five key ways.