Federal

  • October 01, 2024

    High Court Urged To Let Stand IRS Win In Bankruptcy Case

    The U.S. Supreme Court should let stand a decision that late-filed returns prevented a taxpayer from discharging his federal tax debt in bankruptcy, the government argued, saying the taxpayer has inaccurately claimed that issues at the heart of his case have created a significant circuit split.

  • October 01, 2024

    Treasury Plans Final Direct Pay Partnership Regs By Year-End

    The U.S. Treasury Department is eyeing the end of the year to finalize regulations for development projects to elect out of their partnership tax status to qualify for a direct cash payment of their clean energy tax credits, an official said Tuesday.

  • October 01, 2024

    Estate Exaggerating Value Of Exec's Tax Tipoff, DC Circ. Told

    A Dutch bank executive's estate is "vastly" overstating the significance of his tips to the IRS in seeking a whistleblower award for his reporting of tax schemes, the U.S. government told the D.C. Circuit, urging it to uphold the U.S. Tax Court's denial of the award.

  • October 01, 2024

    IRS Delays Tax Deadlines In Ill. After July Storms

    Taxpayers in seven Illinois counties will have until Feb. 3 to file individual and business tax returns and make payments after portions of the state were hit by severe storms and tornadoes in July, the Internal Revenue Service said Tuesday.

  • September 30, 2024

    11th Circ. Skeptical Of Peanut Truck Co.'s Excise Tax Refund

    The Eleventh Circuit seemed skeptical of a lower court's decision to award a $37,000 excise tax refund to a manufacturer on its sale of wagons for carrying and drying peanuts, suggesting during oral arguments that the semitrailers may fail to qualify for a tax exemption for off-road vehicles.

  • September 30, 2024

    Biz Owner Gets 18 Months For Tax Fraud On $2.8M In Income

    The owner of a metal fabrication company who admitted to neglecting to report nearly $3 million in business income to the Internal Revenue Service was sentenced to 18 months in prison, according to Connecticut federal prosecutors.

  • September 30, 2024

    IRS Seeks Input On Draft Partnership Basis-Shifting Form

    The Internal Revenue Service asked for comments Monday on a draft form and instructions for partners to disclose all the property they receive from partnerships, part of upcoming regulations meant to target abusive tax avoidance that uses sophisticated partnership basis-shifting transactions.

  • September 30, 2024

    Ex-Jersey Shore Mayor Admits To Benefits Theft, Tax Crimes

    The former mayor of Wildwood, New Jersey, has admitted to unlawfully obtaining state health benefits, failing to disclose his outside employment and neglecting to report income from that job on state tax returns, New Jersey Attorney General Matthew J. Platkin and the Office of Public Integrity and Accountability announced Monday.

  • September 30, 2024

    Feds Seek Prison In Tax Case Linked To 'China Initiative'

    Prosecutors have asked a Texas federal judge for an 18- to 24-month prison sentence for a Chinese-born engineer who pled guilty to tax crimes after being charged with export violations and fraud in a case the defense claims began as an espionage investigation under the U.S. Department of Justice's now-disbanded "China Initiative."

  • September 30, 2024

    IRS Appeals Office Tests Group Mailbox For Large Cos.

    The Internal Revenue Service's Independent Office of Appeals announced Monday that it will test out a program intended to help enhance secure messaging for large businesses with multiple representatives by allowing them to request a group mailbox to communicate with their assigned Appeals employee.

  • September 30, 2024

    Supplement Co. Owes $1.3M Of Ex-Owner's Tax, US Says

    A health supplements company and its owners owe the federal government about $1.3 million in taxes stemming from the liabilities of the company's previous owner, the U.S. said in a complaint Monday in a Connecticut federal court.

  • September 30, 2024

    43K Issues In IRS Application Overdue For Fixes, TIGTA Says

    A review of two Internal Revenue Service system applications discovered that one had more than 43,000 vulnerabilities that were overdue for being patched, the Treasury Inspector General for Tax Administration said in report released Monday. 

  • September 30, 2024

    IRS Grants Relief To Farmers Impacted By Drought

    The Internal Revenue Service granted tax relief Monday to qualified farmers and ranchers in 41 states and other regions that were forced to sell their livestock due to drought conditions, extending the time they have to replace their animals and still defer taxes on capital gains from selling.

  • September 29, 2024

    Hunter Biden's Tax Privacy Case Can Proceed, Judge Says

    Hunter Biden can move forward with his lawsuit against the federal government alleging the unauthorized disclosure of his tax return information by special agents and their attorneys who talked publicly about an investigation that culminated in Biden's copping to criminal tax charges, a D.C. federal judge ruled.

  • September 27, 2024

    Corporate Raider Accused Of Shirking $180M SEC Judgment

    Corporate takeover specialist Paul A. Bilzerian, accused of ducking a more than $180 million judgment owed to the U.S. Securities and Exchange Commission for decades, was indicted alongside his longtime accountant and his cannabis company on Thursday, California federal prosecutors said Friday.

  • September 27, 2024

    Ex-Citizens' Renunciation Fee Suit Shipped To Claims Court

    A D.C. federal judge ruled that a lawsuit brought by former U.S. citizens seeking a refund on their $2,350 citizenship renunciation fee belongs in the Court of Federal Claims.

  • September 27, 2024

    Constitution Permits Blocked Anti-Laundering Law, Panel Told

    The U.S. government urged the Eleventh Circuit on Friday to reinstate the Corporate Transparency Act passed in 2021, arguing that the anti-money laundering law is within Congress' powers to regulate economic activity and necessary to have businesses report beneficial ownership to combat crimes like tax evasion and terrorist financing.

  • September 27, 2024

    Feds Say Crypto 'Godfather' Bribed Cops, Dodged Taxes

    California federal prosecutors have accused a cryptocurrency startup founder nicknamed "The Godfather" of extortion, robbery and failing to pay taxes on fraudulent income that he allegedly used for personal luxuries including a Bel Air mansion rental and cosmetic surgery to make his legs longer.

  • September 27, 2024

    The Tax Angle: Pass-Through Tax Relief, Corporate Rate Cut

    From a look at GOP efforts to extend the tax deduction for pass-through businesses to former President Donald Trump's proposal to cut the corporate tax rate to 15%, here's a peek into a reporter's notebook on a few of the week's developing tax stories.

  • September 27, 2024

    IRS Plans Transition Rules In Basis-Shifting Regs, Atty Says

    The IRS plans to include transition rules in forthcoming proposed regulations that aim to clamp down on abusive tax avoidance practices through complex partnership transactions known as basis shifting, an agency attorney said Friday.

  • September 27, 2024

    Alvarez & Marsal Tax Appoints Former Weil Official

    Alvarez & Marsal's tax affiliate announced it has appointed a former Weil Gotshal & Manges LLP executive as a senior official for the firm's compensation and benefits practice.

  • September 27, 2024

    Ex-Mass. State Sen. Says Conviction By All-White Jury Unfair

    A former Massachusetts state senator has said his conviction on pandemic unemployment aid and tax fraud charges should be thrown out in part because the jury was all white.

  • September 27, 2024

    IRS Hopes To Clarify 'Friendly Doctor' Arrangements

    The Internal Revenue Service hopes to release general guidance on arrangements in which a physician's business can be run by a separate entity, known as friendly doctor arrangements, an agency official said Friday.

  • September 27, 2024

    Corp. AMT Rules Could Wrap In Smaller Partnerships

    Recently proposed rules on the U.S. corporate alternative minimum tax create new concerns for partnerships of various sizes that could be forced to comply with complex reporting requirements unless the government introduces carveouts, tax observers said.

  • September 27, 2024

    IRS Told To Improve Notices Of Disaster-Related Delays

    An estimated 390,000 taxpayers in federal emergency and disaster areas may have paid the balances owed on their taxes before a postponed due date because of Internal Revenue Service notices that did not clearly inform taxpayers of the postponement, the Treasury Inspector General for Tax Administration said Friday.

Expert Analysis

  • It's Time For A BigLaw Associates' Union

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    As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.

  • Why DOJ's Whistleblower Program May Have Limited Impact

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    The U.S. Department of Justice’s new whistleblower pilot program aims to incentivize individuals to report corporate misconduct, but the program's effectiveness may be undercut by its differences from other federal agencies’ whistleblower programs and its interplay with other DOJ policies, say attorneys at Milbank.

  • How Justices Upended The Administrative Procedure Act

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    In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.

  • Trump's Best Hush Money Appeal Options Still Likely To Fail

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    The two strongest potential arguments former President Donald Trump could raise in appealing his New York hush money conviction seem promising at first, but precedent strongly suggests they will still ultimately fail — though, of course, Trump's unique position could lead to surprising results, says former New York Supreme Court Justice Ethan Greenberg, now at Anderson Kill.

  • Tips For Tax Equity-Tax Credit Transfers That Pass IRS Muster

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    Although the Internal Revenue Service has increased its scrutiny of complex partnership structures, which must demonstrate their economic substance and business purpose, recent cases and IRS guidance together provide a reliable road map for creating legitimate tax equity structures, say Ian Boccaccio and Michael Messina at Ryan Tax.

  • Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?

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    A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.

  • 3 Leadership Practices For A More Supportive Firm Culture

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    Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.

  • E-Discovery Quarterly: Rulings On Hyperlinked Documents

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    Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.

  • Loper Bright Limits Federal Agencies' Ability To Alter Course

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    The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.

  • A Guide To Long-Term, Part-Time Employee Determinations

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    With final regulations under the Secure Act requiring 401(k) retirement benefits for long-term, part-time employees expected soon, Amy Sheridan and David Guadagnoli at Sullivan & Worcester look at how the proposed rules would shift the risk-reward calculus on excluding categories of employees, and what plan sponsors would need to consider when designing retirement plans.

  • After Chevron: Delegation Of Authority And Tax Regulators

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    The U.S. Department of the Treasury and the Internal Revenue Service will face higher standards following Loper Bright’s finding that courts should determine whether agency rules meet the best possible interpretation of the tax code, as well as the scope of the authority delegated by Congress, says Edward Froelich at McDermott.

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

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