Federal

  • March 06, 2025

    Trump's Value-Added Tax Focus In Tariff Plan Stirs Angst

    President Donald Trump's call to target value-added taxes in his reciprocal tariff plan could distort global supply chains and create additional burdens for U.S. companies, contrary to his stated goals of lowering prices for consumers and boosting business, experts told Law360.

  • March 06, 2025

    Fried Frank Hires White & Case Partner For NY Office

    Fried Frank Harris Shriver & Jacobson LLP announced it appointed a longtime White & Case LLP partner to serve as senior counsel in the firm's mergers and acquisitions and private equity practices. 

  • March 06, 2025

    Tax Interest Rates To Stay Unchanged In 2nd Quarter

    The Internal Revenue Service's interest rates for overpayments and underpayments of tax will stay the same in the second quarter of 2025 after dropping to start the year, the agency said Thursday.

  • March 05, 2025

    Accused Tax Prep Hacker Faces Refund Fraud Case In Boston

    A Nigerian national accused of conspiring to use stolen taxpayer information and reaping $1.3 million in phony returns has been extradited to the United States to face charges of breaking into Massachusetts tax preparation firms' computer networks, Boston federal prosecutors said.

  • March 05, 2025

    Claimed Church Leader Ruled To Owe $1.3M In Taxes

    A claimed church leader owes $1.3 million in tax debt after he was caught selling tax avoidance schemes, a Washington federal judge ruled Wednesday, rejecting his request for more time to mount a challenge and describing him as uncooperative.

  • March 05, 2025

    NY Estate's Bid To Deduct $7M Settlement Denied By 2nd Circ.

    A New York estate's $6.5 million settlement liability cannot be deducted because the liability does not decrease the value of trust assets within the estate, nor can it be classified as a tax-deductible administrative expense from the gross estate, the Second Circuit ruled.

  • March 05, 2025

    Nixon Peabody Hires Former Sheppard Mullin Partner In NY

    Nixon Peabody LLP said Wednesday that a former Sheppard Mullin Richter & Hampton LLP partner has joined the New York office as a partner on the firm's nonprofit organizations team.

  • March 05, 2025

    House Dems Warn IRS Cuts May Slow Refunds, Hurt Service

    The Internal Revenue Service's decision to lay off 7,000 probationary employees could threaten the agency's ability to timely serve taxpayers and issue refunds, more than 130 House Democrats said in a letter Wednesday.

  • March 05, 2025

    Trump Delays Mexico, Canada Tariffs On Autos For A Month

    President Donald Trump announced Wednesday that auto vehicles and parts imported from Canada and Mexico will get a one-month reprieve from the 25% tariffs he instituted earlier this week, according to a statement read by White House Press Secretary Karoline Leavitt.

  • March 05, 2025

    How Eversheds Sutherland Drew 12-Atty Tax Team In Atlanta

    New Eversheds Sutherland partner Hale E. Sheppard joined Law360 Pulse to discuss how he helped lead a team of 12 tax controversy attorneys to join the firm in Atlanta from Chamberlain Hrdlicka White Williams & Aughtry PC.

  • March 05, 2025

    Ex-Girlfriend Of $36M Crypto Schemer Admits Hiding Profits

    The ex-girlfriend of a cryptocurrency founder who evaded taxes on a $36 million hacking scheme admitted to hiding profits from the IRS and participating in the ploy by heading shell companies and paying Los Angeles sheriff's deputies to target his enemies, according to the U.S. Department of Justice.

  • March 05, 2025

    IRS Adds 4 Countries To Time Requirement Waiver List

    The Internal Revenue Service added Ukraine, Iraq, Haiti, and Bangladesh to the list of countries for tax year 2024 where minimum time requirements for individuals electing to exclude their foreign earned income are waived.

  • March 05, 2025

    IRS Updates Foreign Housing Expense Limits For 2025

    The Internal Revenue Service released adjustments to the limitation on foreign housing expense deductions and exclusions for 2025 on Wednesday.

  • March 04, 2025

    Trump Says He Wants To Pass Tax Cuts For Everyone

    President Donald Trump said he wants to make the Tax Cuts and Jobs Act's income tax cuts permanent, make interest payments on certain car loans tax deductible and eliminate taxes on tips and overtime during a joint address to Congress on Tuesday.

  • March 04, 2025

    Agencies Have 'Ultimate' Authority Over Firings, OPM Says

    The Office of Personnel Management on Tuesday issued a revised version of its January memo directing agency heads to identify all probationary employees, adding a disclaimer that OPM "is not directing agencies to take any specific performance-based actions" and that agencies "have ultimate decision-making authority."

  • 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.

Expert Analysis

  • A Look At A Possible Corporate Transparency Act Exemption

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    Attorneys at Kirkland offer a deep dive into the application of the Corporate Transparency Act's reporting requirements specifically to U.S.-domiciled co-issuers in typical collateralized loan obligation transactions, and consider whether such issuers may be able to assert an exemption from the CTA's reporting requirements.

  • Inconsistent Injury-In-Fact Rules Hinder Federal Practice

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    A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.

  • In-House Counsel Pointers For Preserving Atty-Client Privilege

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    Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.

  • Emerging Energy Trends Reflect Shifting Political Landscape

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    As the Trump administration settles in, some emerging energy industry trends, like expanded support for fossil fuel production, are right off of its wish list — while others, like the popularity of Inflation Reduction Act energy tax credits, and bipartisan support for carbon capture, reflect more complex political realities, say attorneys at Greenberg Traurig.

  • Tax-Free Ways To Help Employees After The LA Wildfires

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    Following the recent wildfires in Los Angeles, there are various tax-free ways to give employees the resources and flexibility they need, including simpler methods like disaster relief payments under Internal Revenue Code Section 139 and leave-sharing programs, and others that require more planning, says Ligeia Donis at Baker McKenzie.

  • Judge Should Not Have Been Reprimanded For Alito Essay

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    Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.

  • Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example

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    Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.

  • Accountant-Owned Law Firms Could Blur Ethical Lines

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    KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.

  • AI Will Soon Transform The E-Discovery Industrial Complex

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    Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.

  • When Innovation Overwhelms The Rule Of Law

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    In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.

  • What Compensation Committees Must Keep In Mind In 2025

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    New disclosure obligations, an evolving discussion on the analysis of executive perks and updated proxy adviser policies — on top of a new presidential administration — are all important things compensation committees must pay close attention to in 2025, say attorneys at Simpson Thacher.

  • Anticipating Direction Of Cosmetics Regulation Under Trump

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    It is unclear how cosmetics regulation reform from the last few years will fare under President Donald Trump, but the new administration's emphasis on deregulation and Robert F. Kennedy Jr.'s views on product safety provide some insight, say attorneys at Crowell & Moring.

  • IRS Basis-Shifting Rule Poses Notable Reporting Obligations

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    While the IRS’ recently finalized rule requiring partnerships to report certain related-party basis adjustment transactions is narrower than originally proposed, taxpayers and their advisers will still need to comb through myriad transactions to comply, say attorneys at Debevoise.

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