Federal

  • November 13, 2024

    3rd Circ. Wary Of Easing Cheesesteak Shop Owner's Sentence

    Third Circuit judges seemed mostly skeptical of overturning an extension to the prison sentence of a Philadelphia cheesesteak shop owner who admitted to paying employees off the books, saying during oral arguments it was unclear whether the employees should be considered co-conspirators in the tax fraud.

  • November 13, 2024

    Trump, GOP Victories May Imperil OECD Global Tax Plan

    President-elect Donald Trump's and Republicans' victories in the U.S. elections this month call into question whether the OECD's two-pillar global tax plan can be effectively implemented and whether the plan's minimum tax backstop rule can be applied amid threats of retaliatory tax measures by the U.S.

  • November 13, 2024

    IRS Issues Corp. Bond Monthly Yield Curve For Nov.

    The Internal Revenue Service on Wednesday published the corporate bond monthly yield curve for November for use in calculations for defined benefit plans, as well as corresponding segment rates and other related provisions.

  • November 13, 2024

    Feds Want 2 Years' Jail For Biz Owner In $2.8M Tax Scheme

    A construction company owner who paid workers off the books by pretending they were subcontractors, even after one of them died, should serve two years in prison and pay $2.8 million in restitution to the Internal Revenue Service for the tax loss, prosecutors told a Massachusetts federal court.

  • November 12, 2024

    Ex-ComEd Exec Asked If Madigan Hires Truly An 'Exchange'

    Defense attorneys got their chance Tuesday to grill an ex-Commonwealth Edison executive who testified the utility hired people who did little to no work at the behest of former Illinois House Speaker Michael Madigan, asking if it truly traded those jobs for Madigan's action on ComEd legislation or if the company was just building goodwill with a key decision-maker.

  • November 12, 2024

    House Rejects Bill To Delay Tax Deadlines For Hostages

    The U.S. House of Representatives rejected Tuesday a bill that would have delayed tax deadlines and reimbursed late fees for Americans held hostage or unlawfully or wrongfully detained abroad.

  • November 12, 2024

    Woman Asks Justices To Review IRS Social Security Levy

    A Florida woman asked the U.S. Supreme Court to review the Eleventh Circuit's denial of her challenge to the IRS' garnishment of her Social Security payments, saying in a petition docketed Tuesday that the appellate court wrongly found she had failed to exhaust possible administrative remedies.

  • November 12, 2024

    Treasury's Energy Tax Perk Regs On Track Despite Trump Win

    The U.S. Treasury Department still plans to finalize remaining clean energy tax credit regulations by the end of this year despite President-elect Donald Trump's campaign promise to unravel the 2022 climate law that enacted them, a Treasury spokesperson told Law360 on Tuesday.

  • November 12, 2024

    Mass. Court Says IRS Deal Didn't Fix Man's State Tax Debt

    The former corporate officer of a now-defunct Massachusetts company didn't overpay on his outstanding tax liability despite entering into a settlement agreement with the Internal Revenue Service, a state appeals court said Tuesday.

  • November 12, 2024

    Tax Court Drills Teacher With Frivolous Argument Penalty

    A Georgia high school teacher's claim that roughly $86,000 in income he received didn't qualify as wages was not just incorrect but frivolous, the U.S. Tax Court said Tuesday, upholding the IRS' determination that he owed taxes on that income as well a $25,000 penalty.

  • November 12, 2024

    Broker Calls 78-Month Sentence For Tax Scheme Unfair

    An insurance agent convicted of conspiracy and tax crimes in a multimillion-dollar tax avoidance scheme told a North Carolina federal court ahead of his sentencing, scheduled for Wednesday, that the 78-month prison sentence recommended by prosecutors is harsher than punishments for similar offenders.

  • November 12, 2024

    Treasury To Host Webinar For Beneficial Ownership Info Filing

    The U.S. Treasury Department's Financial Crimes Enforcement Network will host a free webinar Nov. 19 to aid companies that need to file their initial beneficial ownership information under the Corporate Transparency Act by the start of 2025.

  • November 08, 2024

    Disaster Tax Relief Could Be On Slate In Lame-Duck Session

    Congress returns to Washington, D.C., on Tuesday following former President Donald Trump's reelection, and while lawmakers will likely be gearing up for next year's tax negotiations, there are some tax policies that could pass during the lame-duck session, including disaster tax relief.

  • November 08, 2024

    9th Circ. Says Univ. Wrongly Deprived Of Tax-Exempt Status

    The Ninth Circuit on Friday reversed a decision by an Arizona district court backing the U.S. Department of Education's determination that the privately owned Grand Canyon University didn't qualify as a nonprofit institution for classification related to federal loan and grant programs.

  • November 08, 2024

    Career Butler Snow Attorney Joins Holland & Knight In NYC

    Holland & Knight LLP has hired a transactional attorney who focuses her practice on new markets tax credits and other financial matters, and who spent her entire career up to now with Butler Snow LLP, the firm announced Thursday.

  • November 08, 2024

    Shutts & Bowen Adds Complex Taxation Pro In Sarasota

    Shutts & Bowen LLP has brought on a new partner at the firm's growing Sarasota, Florida, office, bringing close to 20 years of private practice tax law experience to the firm's private client services practice group.

  • November 08, 2024

    Nixon Peabody Helps Boston Supportive Housing Land $153M

    A Boston housing development nonprofit, with guidance from Nixon Peabody LLP, obtained $153 million in financing to develop a 19-story, 126-unit supportive housing project in the city, the law firm announced.

  • November 08, 2024

    Ex-Spouse Entitled To $2.9M Pandemic Tax Refund, Court Told

    A woman is entitled to a $2.9 million tax refund under pandemic-era relief provisions for carryback losses shared with her ex-husband, she told a Texas federal court, accusing the Internal Revenue Service of wrongly requiring both of the former couple's signatures on a consent form.

  • November 08, 2024

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's weekly bulletin, issued Friday, included registration guidance for manufacturers of energy efficiency improvement products that qualify for a homeowner tax credit.

  • November 07, 2024

    Vanguard Investors Ink $40M Settlement In Tax Liability Suit

    Vanguard investors have asked a Pennsylvania federal judge to give the first green light to a $40 million settlement reached with the firm over it allegedly breaching its fiduciary duty when it triggered a sell-off of assets that left investors with massive tax bills.

  • November 07, 2024

    Danish Gov't Can't Exclude 2012 Evidence In $2B Tax Case

    A New York federal judge allowed U.S. pension plans to present a Danish firm's 2012 opinion as key evidence in an upcoming trial in the Danish government's $2 billion tax fraud case against them, but barred three other pieces of evidence.

  • November 07, 2024

    Trial Needed In Texas Co.'s $3.5M Dispute, Tax Court Says

    There are too many factual disputes between the Internal Revenue Service and a Texas holding company regarding a determination that it owed nearly $2.9 million in deficient taxes plus $622,000 in penalties, and a trial will be needed to resolve them, the U.S. Tax Court said Thursday.

  • November 07, 2024

    Varian Not Relevant In Liberty Global Case, US Tells 10th Circ.

    A U.S. Tax Court decision that granted medical device company Varian Medical Systems a deduction for dividends received from foreign subsidiaries does not support Liberty Global's claims to a $110 million tax refund, the federal government told the Tenth Circuit on Thursday.

  • November 07, 2024

    IRS Reports Collecting Over $5.1T In Revenue In FY 2024

    The Internal Revenue Service collected more than $5.1 trillion in tax revenue and over $98 billion in enforcement revenue in fiscal year 2024, the agency announced Thursday.

  • November 07, 2024

    Ex-Cop, Brother Admit Energy Contract Kickback Scheme

    A former Massachusetts police officer and his electrician brother pled guilty Wednesday to paying off employees of a utility ratepayer-funded energy savings program administrator who steered $36 million in contracts their way, federal prosecutors said Thursday.

Expert Analysis

  • The Strategic Advantages Of Appointing A Law Firm CEO

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    The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.

  • Tariffs' Economic Downsides Outweigh Potential Revenue

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    Import tariffs proposed by the campaign of former president Donald Trump would generate revenue like other taxes, but policymakers must consider the net-negative impact of associated consumer and downstream-industry costs, harm to exporters, potential foreign retaliation and reduction in economic output, says Erica York at the Tax Foundation.

  • Navigating The Last Leg Of The Worker Retention Tax Credit

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    Whether a business has applied for the pandemic-era employee retention tax credit, received a denial letter or is still considering making a claim before the April 15 deadline, it should examine recent developments significantly affecting the program before planning next steps, say attorneys at Nixon Peabody.

  • How Cos. Can Build A Strong In-House Pro Bono Program

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    During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.

  • Home Canning Makes Me A Better Lawyer

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    Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.

  • Use The Right Kind Of Feedback To Help Gen Z Attorneys

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    Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.

  • Congress Can And Must Enact A Supreme Court Ethics Code

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    As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.

  • What To Make Of Dueling Corporate Transparency Act Rulings

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    Although challenges to the Corporate Transparency Act abound — as highlighted by recent federal court decisions from Alabama and Oregon taking opposite positions on its constitutionality — the act is still law, so companies should comply with their filing requirements or face the potential consequences, say attorneys at Lowenstein Sandler.

  • Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan

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    Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.

  • State Of The States' AI Legal Ethics Landscape

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    Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.

  • 8 Childhood Lessons That Can Help You Be A Better Attorney

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    A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.

  • How The 2025 Tax Policy Debate Will Affect The Energy Sector

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    Regardless of the outcome of the upcoming U.S. election, 2025 will bring a major tax policy debate that could affect the energy sector more than any other part of the economy — so stakeholders who could be affected should be engaging now to make sure they understand the stakes, say attorneys at Mayer Brown.

  • This Election, We Need To Talk About Court Process

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    In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.

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