Federal

  • March 04, 2025

    Attorneys Shift Gaze To Contracts As Trade Tensions Escalate

    Construction experts are racing to keep up with rapid changes from the White House on tariffs amid what's now becoming a full-fledged trade war, and are working out how best to allocate cost-increase risk in their contracts. Lawyers shared several contract excerpts with Law360 Real Estate Authority.

  • March 04, 2025

    Cantor Fitzgerald's $3M In 9/11 Aid Is Income, Tax Court Says

    The U.S. Tax Court ruled Tuesday that global financial services firm Cantor Fitzgerald must include a $3.1 million grant from New York's 9/11 recovery program in its taxable income, as it failed to prove the funds were tax-exempt under any provision.

  • March 04, 2025

    IRS Drops Push To Penalize Ex-Braves Players For Fraud

    The federal government dropped its push Tuesday to reinstate civil fraud penalties against a partnership founded by former Atlanta Braves players John Smoltz and Ryan Klesko in their Eleventh Circuit appeal of a decision slashing their $47 million deduction for a conservation easement donation.

  • March 04, 2025

    Senate Sends Bill To Repeal IRS DeFi Broker Rule To House

    The Senate passed legislation Tuesday that would repeal a final U.S. Treasury Department rule implementing additional reporting requirements for decentralized finance brokers.

  • March 04, 2025

    Trump's Mexico, Canada Tariffs To Face Legal Tests, Pros Say

    President Donald Trump placed 25% tariffs on all goods from Canada and Mexico on Tuesday, citing drug trafficking as the core reason he used untested emergency tariff powers, a course of action that will face legal scrutiny, tax professionals told Law360.

  • March 04, 2025

    Wealth Taxes Must Involve Beneficial Ownership, Report Says

    Countries that are considering wealth taxes should also invest in beneficial ownership transparency systems to enforce the measures, including comprehensive asset registration, according to a report published Tuesday by the advocacy group Tax Justice Network.

  • March 04, 2025

    IRS Asks To Toss Abbott Labs' FOIA Action For Tax Records

    Discovery limitations in a U.S. Tax Court case apply to documents related to an Internal Revenue Service investigation of Abbott Laboratories' transfer policies and thus mean that Abbott can't access them with a Freedom of Information Act request, the IRS told a D.C. federal court.

  • March 04, 2025

    'Guardrails' Needed In IRS Bid For Eaton Docs, 6th Circ. Told

    The IRS is seeking Eaton employee records that would violate European Union data protection laws, the power management multinational told the Sixth Circuit, arguing that an Ohio district court should accordingly only privately review the documents with "critical guardrails."  

  • March 04, 2025

    IRS Crypto Summons Broke Privacy Law, 5th Circ. Told

    The IRS failed to comply with privacy law in seeking a cryptocurrency executive's third-party bank records, the executive told the Fifth Circuit, saying the agency never notified his attorney even though it was aware he was represented by counsel.

  • March 03, 2025

    Transparency Law Flouts Biz Owners' Privacy, Judge Says

    A Michigan federal judge on Monday ruled the Corporate Transparency Act's beneficial ownership reporting requirements constitute an unreasonable intrusion into business owners' privacy, shortly after the U.S. Department of the Treasury said it was suspending enforcement of the embattled law.

  • March 03, 2025

    Nonprofits Warn Cuts May Force Closures, End Tax Exemption

    Leaders of nonprofits providing healthcare, housing and other critical services for low-income Americans warned Monday that the mix of White House funding cuts and executive orders could force them to close and even jeopardize their tax-exempt status.

  • March 03, 2025

    Payments To Ex-Wife Not Tax-Deductible, 11th Circ. Says

    A doctor's divorce payments to his ex-wife relating to $3.5 million he agreed to pay her for their home do not qualify as tax-deductible alimony because the couple's divorce agreement did not describe them as alimony, the Eleventh Circuit ruled Monday, affirming a U.S. Tax Court decision.

  • March 03, 2025

    CPA Group Urges Nixing Partnership Basis-Shifting Regs

    The U.S. Treasury Department should revoke final anti-abuse regulations that require the disclosure of partnerships structured to adjust a partner's basis, a CPA group said Monday, calling the rules so broad that they end up covering standard tax transactions.

  • March 03, 2025

    IRS' Hunter Biden Whistleblowers Seek Retaliation Probe

    Two Internal Revenue Service agents who accused the U.S. Department of Justice of mishandling an investigation into former President Joe Biden's son Hunter Biden faced retaliation, they said in a complaint filed Monday with the Merit Systems Protection Board.

  • March 03, 2025

    Convicted Drexel Professor Gets 2 Years For Tax Evasion

    A Drexel University accounting professor convicted on tax evasion charges for failing to report $3.3 million in income from a Trenton, New Jersey, pharmacy was sentenced to two years in federal prison on Monday, according to acting U.S. Attorney Vikas Khanna.

  • March 03, 2025

    Tax Preparer Faces $1.6M In FBAR Penalties, US Says

    A Florida federal court should order a tax preparer to pay more than $1.6 million in penalties and interest because he intentionally failed to report his accounts at a pair of Indian banks, the U.S. said.

  • March 03, 2025

    Texan Can't Claim Deduction For Hurricane-Damaged Home

    A Texas man wrongly claimed a tax deduction from a property damaged in 2017 by Hurricane Harvey that was actually owned by his adult children, the U.S. Tax Court ruled Monday, upholding an IRS determination that rejected his $49,500 loss deduction.

  • March 03, 2025

    Treasury Halts Enforcement Of Corporate Transparency Act

    The U.S. Treasury Department won't enforce the Corporate Transparency Act on U.S. businesses and will change regulations so it only applies to foreign companies registered stateside, according to an announcement that activists said invites criminals into the U.S. and lawyers said could provoke judicial scrutiny.

  • March 03, 2025

    Justices Skip Chippewa Lawyer's Bid To Nix Income Tax

    The U.S. Supreme Court declined Monday to grant the petition of an attorney who belongs to the Minnesota Chippewa Tribe and claimed he owed no taxes on self-employment income as a Native American.

  • March 03, 2025

    Eversheds Lands 12 Chamberlain Hrdlicka Tax Attys In Atlanta

    Eversheds Sutherland has grown its Atlanta office by bringing on a dozen tax controversy attorneys from Chamberlain Hrdlicka White Williams & Aughtry PC, the firm announced Monday.

  • February 28, 2025

    Baltimore Law Firm Loses Bid To Lift IRS Account Freeze

    A Maryland federal magistrate judge declined Friday to rethink her order upholding an IRS freeze on a Baltimore law firm's bank account over a $1.5 million tax debt, finding the firm failed to cite any case law that justified reconsideration.

  • February 28, 2025

    FinCEN Delays Corporate Transparency Act Deadlines

    The Financial Crimes Enforcement Network said it will not take any enforcement actions against companies failing to file or update their beneficial ownership information reports pursuant to the Corporate Transparency Act until an interim final rule becomes effective.

  • February 28, 2025

    Justices Asked To Review IRS Crypto Doc Seizure Case

    A cryptocurrency investor who lost his challenge to the Internal Revenue Service's seizure of his account records has asked the U.S. Supreme Court for review, saying the 1976 legal doctrine that sank his case is outdated and fails to meet digital realities, including decentralized banking.

  • February 28, 2025

    UN Tax Pact Best Bet For Certainty, Sovereignty, Report Says

    The United Nations' global tax convention is the most viable opportunity — politically and economically — for governments outside the U.S. to provide tax certainty, prized by multinational corporations, and protect their tax sovereignty under an American administration threatening those realms, the Tax Justice Network said.

  • February 28, 2025

    IRS Hiring Freeze Prompts Job Placement Aid From Tax Pros

    The White House's federal government hiring freeze order, which led the IRS and U.S. Justice Department's tax division to rescind job offers, has tax practitioners launching their own job placement initiatives to assist law students, recent graduates and attorneys.

Expert Analysis

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

  • Navigating New Safe Harbor For Domestic Content Tax Credits

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    The U.S. Department of the Treasury’s recent notice simplifying domestic content calculations for certain solar, onshore wind and battery storage projects, which directly acknowledges the difficulty for taxpayers in gathering data to support a domestic content analysis, should make it easier to qualify additional domestic content bonus tax credits, say attorneys at A&O Shearman.

  • Firms Must Rethink How They Train New Lawyers In AI Age

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    As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.

  • 'Energy Communities' Update May Clarify Tax Credit Eligibility

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    A recent IRS notice that includes updated lists of locations where clean energy projects can qualify for additional tax credits — based 2023 unemployment data and placed-in-service dates — should help provide clarity regarding project eligibility that sponsors and developers need, say attorneys at Troutman Pepper.

  • Think Like A Lawyer: Always Be Closing

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    When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.

  • Litigation Inspiration: Attys Can Be Heroic Like Olympians

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    Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.

  • Lean Into The 'Great Restoration' To Retain Legal Talent

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    As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.

  • How Cannabis Rescheduling May Alter Paraphernalia Imports

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    The Biden administration's recent proposal to loosen federal restrictions on marijuana use raises questions about how U.S. Customs and Border Protection enforcement policies may shift when it comes to enforcing a separate federal ban on marijuana accessory imports, says R. Kevin Williams at Clark Hill.

  • NCAA Settlement May End The NIL Model As We Know It

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    The recent House v. NCAA settlement in California federal court, in which the NCAA agreed to allow schools to directly pay March Madness television revenue to their athletes, may send outside name, image and likeness collectives in-house, says Mike Ingersoll at Womble Bond.

  • Fishing Makes Me A Better Lawyer

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    Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge​​​​​​​ at Robinson Bradshaw.

  • A Healthier Legal Industry Starts With Emotional Intelligence

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    The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.

  • To Make Your Legal Writing Clear, Emulate A Master Chef

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    To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

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