Federal

Limited Corp. Disclosure Regs May Spark Legal Challenges

Natalie Olivo
Senior Tax Correspondent

The U.S. Treasury Department's newly narrowed information disclosure regulations, which cover less than 1% of the 33 million small businesses operating in the U.S., likely lay the groundwork for legal challenges contending that the guidance flouts underlying corporate transparency legislation.

The Tax Angle: Dueling Economic Outlooks For TCJA Renewal

Stephen K. Cooper
Editor-at-Large

From a look at opposite economic projections for renewing the 2017 Tax Cuts and Jobs Act during the Senate debate on the Republicans' fiscal 2026 budget resolution, here's a peek into a reporter's notebook on a few of the week's developing tax stories.

DOGE Cuts Overlook Long-Standing Bids To Improve IRS

Kat Lucero

As President Donald Trump moves to downsize the federal government, the new administration may be missing an opportunity to evaluate long-standing proposals that aim to make the Internal Revenue Service run more efficiently, such as major technology upgrades and improving the dispute resolution process.

Measuring And Mitigating Harm From Discriminatory Taxes

In response to new tariffs and other recent "America First Trade Policy" pronouncements, corporations should assess and take steps to minimize their potential exposure to discriminatory and reciprocal tax measures that are likely to come, say economists at Charles River Associates.

Adapting To Private Practice: From DOJ Leadership To BigLaw

The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.

How The CRE Industry Is Adapting To Tariff Uncertainty

Amid uncertainty about pending tariffs and their potential ripple effects, including higher material costs, supply chain delays and tighter margins, commercial real estate industry players are focusing on strategic planning and risk mitigation, says Daniel Diaz Leyva at Day Pitney.

Law Firm Executive Orders Create A Legal Ethics Minefield

Recent executive orders targeting BigLaw firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.

Trade Policy Shifts Raise Hurdles For Gov't And Cos. Alike

The persistent tension between the Trump administration's fast-moving and aggressive trade policies and the compliance-heavy nature of the trade industry creates implementation challenges for both the business community and the government, says Sara Schoenfeld at Kamerman.

Firms Must Embrace Alternative Billing Models Or Fall Behind

As artificial intelligence tools eliminate inefficiencies and the Big Four accounting firms enter the legal market, law firms that pivot from the entrenched billable hour model to outcomes-based pricing will see a distinct competitive advantage, says attorney William Brewer.

How Attorneys Can Master The Art Of On-Camera Presence

As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.

Adapting To Private Practice: From Fed. Prosecutor To BigLaw

Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.

Justices' False Statement Ruling Curbs Half-Truth Liability

The U.S. Supreme Court’s recent Thompson v. U.S. decision clarified that a federal statute used to prosecute false statements made to bank regulators only criminalizes outright falsehoods, narrowing prosecutors’ reach and providing defense counsel a stronger basis to challenge indictments of merely misleading statements, says Tamara de Silva at De Silva Law Offices.

Perfecting Security Interests In Renewable Energy Tax Credits

The ability to transfer renewable energy tax credits has created new opportunities for developers, investors and lenders, but it also raises important questions regarding when and how the security interests in these credits are perfected — questions that must be answered definitively to protect credit claims and transactions, says Harry Teichman at Stinson.

Firms Still Have Lateral Market Advantage, But Risks Persist

Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.

Making The Opportunity Zones Program Great At Last

As the opportunity zone program approaches its expiration, the Republican-led government could take specific steps to extend and improve the program, address its structural flaws, encourage broader participation and enable it to live up to its promised outcomes, say attorneys at Pillsbury.

We Must Allow Judges To Use Their Independent Judgment

As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.