Federal

The Tax Angle: Tax Prom, 25 Years Of TIGTA

Stephen K. Cooper
Editor-at-Large

From a look at the Tax Foundation's 87th annual Tax Prom celebration to the Treasury Inspector General for Tax Administration marking 25 years in operation, here's a peek into a reporter's notebook on a few of the week's developing tax stories.

Hype For Energy Tax Perks Could Shield Regs From Repeal

Kat Lucero

President-elect Donald Trump and Republican lawmakers could turn to an oversight tool called the Congressional Review Act to undermine clean energy tax credit regulations implementing key parts of Democrats' signature climate law, but the strategy may falter due to GOP support for the incentives.

Countries Eye Certain Tax Credits To Get Leg Up Under Pillar 2

Natalie Olivo
Senior Tax Correspondent

The international minimum tax agreement known as Pillar Two is changing how countries compete for corporate investment, in part by prompting some governments to retool their tax credit systems in ways that could edge out jurisdictions with fewer resources.

What Higher Education Can Expect From A 2nd Trump Admin

The election of Donald Trump for a second presidential term has far-reaching ramifications for colleges and universities — come January, institutions can expect a crackdown on DEI, increased scrutiny of campus protests, a rollback of the Biden administration's Title IX rules and more, say attorneys at Jenner & Block.

3 Ways To Train Junior Lawyers In 30 Minutes Or Less

Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.

Expect Surging Oil And Gas Industry Under New Trump Admin

Throughout his recent campaign, President-elect Donald Trump promised increased oil and natural gas production and reduced reliance on renewables — and his administration will likely bring more oil and gas dealmaking, faster federal permitting and attempts to roll back incentives for green energy, say attorneys at Sidley.

The Bar Needs More Clarity On The Discovery Objection Rule

Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.

Cos. Should Inventory Issues To Prep For New Congress

As the legislative and oversight agendas of the 119th Congress come into sharper focus, corporate counsel should assess and plan for areas of potential oversight risk — from tax policy changes to supply chain integrity — even as much uncertainty remains, say attorneys at WilmerHale.

Conservation Easement Cases Weave Web Of Uncertainty

Much of the IRS and Justice Department’s recent success in prosecuting syndicated conservation easement cases can be attributed to the government’s focus on the so-called PropCo ratio, which could indicate treacherous waters ahead for participants and their advisers, even under the incoming Trump administration, say attorneys at Polsinelli.

So You Want To Move Your Law Practice To Canada, Eh?

Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.

Legislation Most Likely To Pass In Lame Duck Session

As Congress begins its five-week post-election lame duck session, attorneys at Greenberg Traurig break down the legislative priorities and which proposals can be expected to pass.

What Trump's 2nd Presidency Could Mean For Crypto Sector

Trump's second term will bring a fundamental shift from the Biden administration's approach to crypto-asset regulation and banking supervision, with the most significant changes likely taking effect in the first two quarters of 2025 and broader policy shifts emerging over the next year, say attorneys at Cahill.

Promoting Diversity In The Selection Of ADR Neutrals

Excerpt from Practical Guidance

Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.

Striking A Balance Between AI Use And Attorney Well-Being

As the legal industry increasingly adopts generative artificial intelligence tools to boost efficiency, leaders must note the hidden costs of increased productivity, and work to protect attorneys’ well-being while unlocking AI’s full potential, says Ed Sohn at Factor.

Takeaways From The IRS' Crypto Doc Summons Win

A recent First Circuit decision holding that taxpayers do not have a Fourth Amendment reasonable expectation of privacy in cryptocurrency transaction records should prompt both taxpayers and exchanges to take stock of past transactions and future plans, say attorneys at BakerHostetler.

How Judiciary Can Minimize AI Risks In Secondary Sources

Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.