Federal

  • January 13, 2025

    Ariz. Taking Rebate Tax Fight With IRS To 9th Circ.

    Arizona is turning to the Ninth Circuit its battle with the Internal Revenue Service over the federal taxation of its 2023 rebates to taxpayers with dependents, the state told the lower court that dismissed its case.

  • January 13, 2025

    Trump Wants Higher SALT Cap, House Republican Says

    President-elect Donald Trump wants to increase the $10,000 federal cap on state and local tax deductions, a House Ways and Means Committee member said Monday.

  • January 13, 2025

    Tax-Lien Biz Atty Accused Of Duping Bank Can't Touch Money

    A Manhattan federal judge declined Monday to unfreeze assets on behalf of a former compliance lawyer accused of duping a bank into lending his tax-lien investment firm $20 million, complicating his plan to go to trial with private counsel.

  • January 13, 2025

    Justices Won't Review Reversal Of Firm's Tax Penalty Win

    The U.S. Supreme Court let stand Monday a Fifth Circuit decision overturning a jury ruling that a wealth management company didn't owe $579,000 in tax penalties because an employee's mental health problems excused the company's failure to file information returns on time.

  • January 12, 2025

    Justices To Review Whether Ex-Wife Can Challenge Tax Levy

    The U.S. Supreme Court will review a Third Circuit decision allowing a woman to continue challenging what she claims was an improper application of her tax payment to her ex-husband's bill even after the Internal Revenue Service stopped pursuing a proposed property seizure against her.

  • January 10, 2025

    Up Next At High Court: Porn ID Check & Retiree Discrimination

    The U.S. Supreme Court will return to the bench Monday for a full argument session, in which the justices will debate whether a Texas law requiring pornography websites to verify their visitors aren't minors violates the First Amendment and if retirees have the right to sue former employers for benefits discrimination. 

  • January 10, 2025

    Treasury Finalizes Rules For Disregarded Foreign Payments

    The U.S. Treasury Department issued final regulations Friday that are designed to prevent companies from receiving foreign payments in a way that allows them to reduce their overseas taxes without a corresponding increase in U.S. taxable income.

  • January 10, 2025

    Ga. Law Firm Latest To Fight Corporate Transparency Act

    A federal law designed to combat money laundering violates the U.S. Constitution by forcing lawyers to disregard attorney-client privilege, a Georgia lawyer told a federal court, joining a chorus seeking legal action to stop the law.

  • January 10, 2025

    Illinois Joins IRS Direct File Program For 2025

    The Internal Revenue Service's free electronic tax filing program, Direct File, will be available in Illinois when tax season begins this month, the Illinois Department of Revenue and Gov. JB Pritzker announced Friday.

  • January 10, 2025

    IRS Delays Tax Deadlines Because Of California Fires

    Taxpayers in Los Angeles County will have until Oct. 15 to file individual and business tax returns and make payments as the area deals with ongoing California wildfires, the Internal Revenue Service announced Friday.

  • January 10, 2025

    IRS Proposes Automatic Retirement Plan Enrollment Guidance

    The Internal Revenue Service and U.S. Treasury Department proposed guidance Friday regarding rules establishing automatic enrollment requirements for certain retirement plans under changes made by the Secure 2.0 Act.

  • January 10, 2025

    Tax Season To Start Jan. 27, IRS Says

    The Internal Revenue Service will begin accepting and processing 2024 tax year returns on Jan. 27, the agency said Friday.

  • January 10, 2025

    Treasury, IRS Plan Rules For Clean Transportation Fuel Credit

    Treasury and the IRS released guidance Friday for producers of transportation fuel hoping to qualify for the newly available clean fuels production tax credit, saying they plan to release rules clarifying which entities qualify for the credit and how producers can determine allowable emissions levels.

  • January 10, 2025

    IRS Proposes Rules For Roth Catch-Up Contributions

    The Internal Revenue Service floated rules Friday for catch-up contributions made possible by the 2022 retirement law known as Secure 2.0, including the requirement that contributions made by certain participants be designated Roth contributions.

  • January 10, 2025

    IRS Finalizes Regulations For Taxing Gifts From Expats

    The Internal Revenue Service issued final regulations and guidance Friday for a 2008 tax on gifts and bequests made by current or former U.S. citizens living abroad to U.S. citizens or residents, including through foreign trusts.

  • January 10, 2025

    IRS Finalizes Partnership Basis-Shifting Anti-Abuse Rules

    The Internal Revenue Service released final rules Friday that target abusive tax avoidance by large partnerships using basis shifting, requiring partnerships to report certain transactions among related members, including transactions that result from tax-free distributions of partnership property.

  • January 10, 2025

    IRS OKs New Test For Classifying Digital, Cloud Transactions

    Transactions involving digital content and cloud computing will be classified using a new predominant character test, according to final rules issued Friday by the Internal Revenue Service and the U.S. Department of the Treasury.

  • January 10, 2025

    Taxation With Representation: Kirkland, Davis Polk, Wachtell

    In this week's Taxation With Representation, Constellation acquires Calpine, Cintas seeks a deal with UniFirst Corp., Stryker Corp. acquires Inari Medical Inc., and Paychex Inc. buys Paycor.

  • January 10, 2025

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's weekly bulletin, issued Friday, included finalized rules aimed at simplifying how corporations determine taxable income or loss with respect to certain affiliates that conduct business in a foreign currency.

  • January 10, 2025

    Treasury Floats Rules For Commercial Green Vehicle Credits

    The U.S. Treasury Department and the Internal Revenue Service proposed rules Friday for obtaining tax credits for commercial green vehicles under provisions of the Inflation Reduction Act, suggesting ways for determining the credit amount and identifying which vehicles are eligible.

  • January 10, 2025

    Senate Finance Panel To Vet Treasury Nominee Thursday

    The Senate Finance Committee will hold a hearing Thursday to consider the nomination of Scott Bessent to serve as the new U.S. Treasury secretary under the incoming administration, Sen. Mike Crapo, R-Idaho, said Friday.

  • January 09, 2025

    Suspended Atty Seeks To Avoid Prison Over Payroll Tax Fraud

    A suspended Ohio attorney who managed his wife's dental practice and admitted causing a $750,000 tax loss by failing to pay over employment taxes asked a federal court Thursday to spare him a prison sentence, saying he is not the "greedy liar" depicted by federal prosecutors.

  • January 09, 2025

    JCT Details TCJA Tax Provisions Scheduled To Expire

    A report released Thursday by the Joint Committee on Taxation provided details on the numerous tax provisions implemented under the Tax Cuts and Jobs Act scheduled to expire at the end of 2025.

  • January 09, 2025

    Warren Presses IRS Pick On Employee Tax Credit Involvement

    Sen. Elizabeth Warren pressed President-elect Donald Trump's nominee for internal revenue commissioner Thursday for more information about his promotion of the employee retention tax credit, a pandemic relief measure associated with rampant fraud.

  • January 09, 2025

    EisnerAmper Adds Tax Pro As Partner In Dallas

    International business adviser EisnerAmper LLC announced it appointed a certified public accountant from Citrin Cooperman Advisors LLC to serve as a tax partner in the firm's private client services group based in Dallas.

Expert Analysis

  • Rank-And-File DOJ Attorneys Will Keep Calm And Carry On

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    Career prosecutors at the U.S. Department of Justice often pride themselves on their ability to remain apolitical in order to ensure consistency and keep the department’s mission afloat, and the incoming Trump administration is unlikely to upend this tradition, says Michael Landman at Bird Marella.

  • What Higher Education Can Expect From A 2nd Trump Admin

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    The election of Donald Trump for a second presidential term has far-reaching ramifications for colleges and universities — come January, institutions can expect a crackdown on DEI, increased scrutiny of campus protests, a rollback of the Biden administration's Title IX rules and more, say attorneys at Jenner & Block.

  • 3 Ways To Train Junior Lawyers In 30 Minutes Or Less

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    Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.

  • Expect Surging Oil And Gas Industry Under New Trump Admin

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    Throughout his recent campaign, President-elect Donald Trump promised increased oil and natural gas production and reduced reliance on renewables — and his administration will likely bring more oil and gas dealmaking, faster federal permitting and attempts to roll back incentives for green energy, say attorneys at Sidley.

  • The Bar Needs More Clarity On The Discovery Objection Rule

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    Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.

  • Cos. Should Inventory Issues To Prep For New Congress

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    As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.

  • Conservation Easement Cases Weave Web Of Uncertainty

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    Much of the IRS and Justice Department’s recent success in prosecuting syndicated conservation easement cases can be attributed to the government’s focus on the so-called PropCo ratio, which could indicate treacherous waters ahead for participants and their advisers, even under the incoming Trump administration, say attorneys at Polsinelli.

  • So You Want To Move Your Law Practice To Canada, Eh?

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    Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

  • Legislation Most Likely To Pass In Lame Duck Session

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    As Congress begins its five-week post-election lame duck session, attorneys at Greenberg Traurig break down the legislative priorities and which proposals can be expected to pass.

  • What Trump's 2nd Presidency Could Mean For Crypto Sector

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    Trump's second term will bring a fundamental shift from the Biden administration's approach to crypto-asset regulation and banking supervision, with the most significant changes likely taking effect in the first two quarters of 2025 and broader policy shifts emerging over the next year, say attorneys at Cahill.

  • Promoting Diversity In The Selection Of ADR Neutrals

    Excerpt from Practical Guidance
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    Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.

  • Striking A Balance Between AI Use And Attorney Well-Being

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    As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.

  • Takeaways From The IRS' Crypto Doc Summons Win

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    A recent First Circuit decision holding that taxpayers do not have a Fourth Amendment reasonable expectation of privacy in cryptocurrency transaction records should prompt both taxpayers and exchanges to take stock of past transactions and future plans, say attorneys at BakerHostetler.

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