Federal
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February 10, 2025
5th Circ. Urged To Reject Crypto Exec's Privacy Law Claim
The IRS complied with a financial privacy law to summon third-party bank records belonging to a cryptocurrency executive under investigation, the U.S. government told the Fifth Circuit on Monday in the businessman's appeal to overturn a lower court decision that rejected his bid to quash the summonses.
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February 10, 2025
Trump Sets Across-The-Board 25% Tariff On Steel And Aluminum
President Donald Trump teed up a 25% tariff on all imported steel and aluminum Monday evening, continuing a trend of sweeping, aggressive trade actions that have defined his first three weeks in office.
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February 10, 2025
Tax-Crime Suspect's Bond Revoked After Additional Charges
A man accused of promoting abusive tax shelters was ordered to prison Monday by a Colorado federal judge who said she believed he may have committed additional crimes in connection with a multimillion-dollar fraudulent investment fund while awaiting trial.
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February 10, 2025
Trump Buyout Plan Still On Hold As Unions Cite 'Confusion'
A Boston federal judge on Monday extended his hold on President Donald Trump's federal worker buyout program as he weighs a request from unions to block the so-called Fork Directive, which promises months of pay to government employees who resign their posts.
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February 10, 2025
Tax Court Judge Protections Challenged In 11th Circ.
The federal government oversimplified a U.S. Supreme Court ruling to argue against granting a request to review job protections for U.S. Tax Court judges, the owners of an electronic parts company told the Eleventh Circuit in seeking the reversal of a tax penalty.
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February 10, 2025
Goldstein Rearrested After Feds Say He Hid Millions In Crypto
U.S. Supreme Court lawyer and SCOTUSblog publisher Tom Goldstein was arrested again Monday following his earlier release on criminal tax evasion charges, after prosecutors alleged that he secretly made millions of dollars worth of cryptocurrency transactions in recent days and was a serious risk to flee.
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February 10, 2025
Skadden Adds Designer Of Tax Cut Act's Int'l Provisions In DC
Skadden Arps Slate Meagher & Flom LLP announced Monday it has hired a tax attorney who helped create some international provisions in the Tax Cuts and Jobs Act of 2017, and who joins the firm as House Republicans signal they'll vote to renew some measures of that bill that are set to expire.
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February 10, 2025
Pillsbury Recruits Former Mayer Brown Tax Pro In NY
Pillsbury Winthrop Shaw Pittman LLP said it has recruited a former Mayer Brown LLP tax expert to serve as a partner in Pillsbury's New York office.
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February 07, 2025
Feds Defend Corporate Transparency Act In 5th And 4th Circuits
The U.S. government defended the Corporate Transparency Act in the Fifth and Fourth Circuits on Friday, urging the former to reverse a Texas federal judge's nationwide injunction on the law and the latter to affirm a Virginia federal judge's rejection of a bid to block the law's enforcement.
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February 07, 2025
Wyden Demands Clarification On DOGE's Treasury Access
Senate Finance Committee ranking member Ron Wyden questioned Friday whether U.S. Treasury Department lawyers were misleading and evasive when they said members of Elon Musk's U.S. DOGE Service Temporary Organization were granted only "read-only" access to the department's payment systems.
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February 07, 2025
Ex-Mass. State Sen. Gets 18 Months For Pandemic, Tax Fraud
A former Massachusetts state senator was sentenced to 18 months in prison Friday after being convicted of fraudulently collecting pandemic unemployment benefits and failing to report consulting income he was also earning at the time on his tax returns.
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February 07, 2025
Customs Broker Pleads Guilty To Wire Fraud, Tax Evasion
A customs broker pled guilty Friday in California federal court to evading $1.5 million in taxes and overcharging clients about $5.4 million in import duty fees as part of a plea agreement he reached with the U.S. Department of Justice.
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February 07, 2025
Ex-NFL Star Romanowski's Bankruptcy Converted To Ch. 7
Former NFL player Bill Romanowski and wife Julie had their Chapter 11 bankruptcy case converted to a Chapter 7 on Friday, after a California judge called a filing from the couple seeking the case's dismissal full of "hyperbole" and said a trustee is needed to examine the pair's assets and liabilities.
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February 07, 2025
GOP Sens. File Bill To Make Pot Co. Tax Penalty Permanent
Republican U.S. senators have filed a bill that would bar cannabis companies from taking business deductions even if cannabis is taken off of Schedule 1 of the Controlled Substances Act.
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February 07, 2025
4th Circ. Says LeClairRyan Founder May Duck Tax Liability
Defunct law firm LeClairRyan PLLC's operating agreement did not bar founder Gary LeClair from jumping ship in time to potentially dodge massive tax bills tied to the firm's collapse, the Fourth Circuit ruled Friday.
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February 07, 2025
Taxation With Representation: Kirkland, Latham, Skadden
In this week's Taxation With Representation, Triumph Group goes private via Berkshire Partners and Warburg Pincus affiliates, alternative asset manager TPG buys Altus Power, Globus Medical buys Nevro Corp., and Honeywell separates its automation and aerospace technology businesses, resulting in the formation of three distinct companies.
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February 07, 2025
Goldstein's Pro Se Filing Irks Feds Amid Murky Atty Situation
Prosecutors have asked a Maryland federal judge to strike a pro se motion from Tom Goldstein in his tax evasion case, saying the U.S. Supreme Court attorney and SCOTUSblog publisher shouldn't be allowed to personally make arguments to the court when he is represented by several experienced lawyers.
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February 07, 2025
IRS System Error Leads To $43.7M In Faulty Refunds
The Internal Revenue Service processing system's handling of dishonored checks may have caused as much as $43.7 million in erroneous refunds to be distributed, the Treasury Inspector General for Tax Administration said, though it noted the agency already has settled on a fix.
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February 07, 2025
Former Top Congressional Investigator Leaves Lasting Legacy
Elise J. Bean, former chief counsel for the U.S. Senate Permanent Subcommittee on Investigations, is remembered for leading landmark bipartisan congressional probes, which exposed massive tax and financial scandals with findings that helped pave the way for game-changing legislation.
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February 07, 2025
Florida Couple Owed $14M Tax Refund, Court Told
A couple claiming they overpaid their taxes asked a Florida federal court for help getting a nearly $14 million refund, saying they asked the IRS for the money more than four years ago, but the agency has yet to make a decision or explain the delay.
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February 07, 2025
Weekly Internal Revenue Bulletin
The Internal Revenue Service's weekly bulletin, issued Friday, included the release of the first annual table showing the types of facilities eligible for the clean energy production and investment tax credits.
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February 06, 2025
State AGs To Sue Over DOGE Access To Payment Systems
Over a dozen state attorneys general are set to file suit challenging Elon Musk and Department of Government Efficiency staffers' access to people's sensitive personal information through government payment systems, New York Attorney General Letitia James' office announced Thursday.
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February 06, 2025
Senate Approves Trump's Pick To Lead OMB
The U.S. Senate voted Thursday to confirm President Donald Trump's pick — one of the authors of the controversial Project 2025, a conservative policy wish list — to again oversee the Office of Management and Budget.
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February 06, 2025
Dems Demand Info On DOGE's Taxpayer Data Access
House Ways and Means Committee Democrats demanded in a letter released Thursday to know whether Elon Musk's Department of Government Efficiency has been given access to individuals' confidential tax data.
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February 06, 2025
Baker McKenzie Partner Rejoins Firm From Apple
Baker McKenzie announced that a former partner specializing in trade and customs law has rejoined the firm after serving as principal counsel and the lead adviser on global trade matters for Apple.
Expert Analysis
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To Make Your Legal Writing Clear, Emulate A Master Chef
To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.
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Circuit Judge Writes An Opinion, AI Helps: What Now?
Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.
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BF Borgers Clients Should Review Compliance, Liability
After the U.S. Securities and Exchange Commission's recently announced enforcement proceedings against audit firm BF Borgers for fabricating audit documentation for hundreds of public companies, those companies will need to follow special procedures for disclosure and reporting — and may need to prepare for litigation from the plaintiffs bar, say attorneys at Debevoise.
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Trauma-Informed Legal Approaches For Pro Bono Attorneys
As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.
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What Updated PLR Procedure May Mean For Stock Spin-Offs
A recently published Internal Revenue Service revenue procedure departs from commonly understood interpretations of the spinoff rules by imposing more stringent standards on companies seeking private letter rulings regarding tax-free stock spinoff and split-off transactions, and may presage regulatory changes that would have the force of law, say attorneys at Skadden.
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Proposed Cannabis Reschedule Sidesteps State Law Effects
The U.S. Department of Justice's recent proposal to move cannabis to Schedule III of the Controlled Substances Act provides certain benefits, but its failure to address how the rescheduling would interact with existing state cannabis laws disappointed industry participants hoping for clarity on this crucial question, says Ian Stewart at Wilson Elser.
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How Attys Can Avoid Pitfalls When Withdrawing From A Case
The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.
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Using A Children's Book Approach In Firm Marketing Content
From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.
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New Crypto Reporting Will Require Rigorous Recordkeeping
The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service's efforts to track cryptocurrency activities that increases oversight by requiring brokers to report investor sales and exchanges, say Shaina Kamen and Max Angel at Holland & Knight.
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Geothermal Energy Has Growing Potential In The US
Bipartisan support for the geothermal industry shows that geothermal energy can be an elegant solution toward global decarbonization efforts because of its small footprint, low supply chain risk, and potential to draw on the skills of existing highly specialized oil and gas workers and renewable specialists, say attorneys at Weil.
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Exploring An Alternative Model Of Litigation Finance
A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.
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Trump Hush Money Case Offers Master Class In Trial Strategy
The New York criminal hush money trial of former President Donald Trump typifies some of the greatest challenges that lawyers face in crafting persuasive presentations, providing lessons on how to handle bad facts, craft a simple story that withstands attack, and cross-examine with that story in mind, says Luke Andrews at Poole Huffman.
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A Vision For Economic Clerkships In The Legal System
As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcomes and provide essential training to clerks, say Mona Birjandi at Data for Decisions and Matt Farber at Secretariat.