Federal

  • December 03, 2024

    Hunter Biden's Gun, Tax Cases Axed After Presidential Pardon

    Federal judges in Delaware and California on Tuesday closed the books on Hunter Biden's felony gun and tax evasion cases, just ahead of his sentencing hearings, after President Joe Biden issued a sweeping pardon of his son over the weekend.

  • December 03, 2024

    Texas Judge Blocks 'Quasi-Orwellian' Anti-Laundering Law

    A Texas federal judge on Tuesday halted the Biden administration's roll-out of new reporting requirements aimed at unmasking anonymous shell companies, granting a nationwide preliminary injunction sought by business interests challenging their constitutionality.

  • December 03, 2024

    Ex-Braves Blast Tax Court's 'Disregard' In Easement Fight

    Two former Atlanta Braves players penalized for allegedly overstating the value of a conservation easement donation urged the Eleventh Circuit to toss the costly ruling against them, saying the U.S. Tax Court's decision showed "blatant disregard" for the appeal court's precedent in deciding the matter.

  • December 03, 2024

    Fried Frank Adds Goodwin Procter Tax Pro As Partner In NY

    Fried Frank Harris Shriver & Jacobson LLP announced Tuesday that a Goodwin Procter LLP tax and business law partner has joined the firm and will serve as a partner in Fried Frank's tax department in New York.

  • December 03, 2024

    'Bitcoin Jesus' Calls $48M Tax Dodging Case Unconstitutional

    An early Bitcoin investor known as Bitcoin Jesus asked a California federal judge Tuesday to dismiss charges that he dodged approximately $48 million in taxes by filing false tax returns and concealing how much cryptocurrency he owned, arguing that the charges are unconstitutional.

  • December 03, 2024

    Exelon Asks For Corp. AMT To Account For Repairs Deduction

    Power companies should be allowed to account for an industry-specific tax deduction on repair costs to determine whether they're subject to the corporate alternative minimum tax, utility giant Exelon said in a comment letter to the U.S. Treasury Department released Tuesday.

  • December 03, 2024

    Premium Tax Credit 'Coverage Month' Hearing Canceled

    The Internal Revenue Service and U.S. Treasury Department announced Tuesday that they will not hold a hearing on a proposed expanded definition of a "coverage month" for purposes of computing the health insurance premium tax credit after receiving no interest about the hearing.

  • December 03, 2024

    Comment Deadline Extended For Corp. Alternative Min. Tax

    Treasury and the Internal Revenue Service said Tuesday that they will accept comments on proposed rules for the new 15% corporate alternative minimum tax on corporations with reported profits of $1 billion or more until Jan. 16, a roughly one-month extension from the previous deadline.

  • December 03, 2024

    Tax, Insurance Cos. Owner Gets 3 Years For $1M Tax Evasion

    The owner of a tax business who also ran an insurance company the government says provided fraudulent vehicle registrations for unauthorized immigrants was sentenced to three years in prison for failing to pay more than $1 million in taxes, federal authorities in North Carolina announced Tuesday.

  • December 02, 2024

    Biden's Pardon Is Another Blow To Special Counsel Probes

    President Joe Biden's pardon of his son over the weekend marks the latest example of a special counsel investigation fizzling and raises doubts over the future use of such probes, which can drag on for years and cost taxpayers millions of dollars.

  • December 02, 2024

    Texas Truck Co. Owes Chinese Tire Import Tax, 5th Circ. Says

    A Houston truck company that sold tires made by a Chinese manufacturer is on the hook for excise taxes as the beneficial owner of the tires, the Fifth Circuit decided in an opinion Monday that reversed a ruling freeing the company from its nearly $2 million tax bill.

  • December 02, 2024

    IRS Floats Pooling, Annual Accounting In Offshore Profit Regs

    U.S. multinational companies will be required to create annual shareholder accounts and adhere to new pooling concepts to properly account for previously taxed earnings and profits under proposed rules floated by the U.S. Treasury Department and Internal Revenue Service.

  • December 02, 2024

    A&O Shearman Tax Pro Jumps To Hogan Lovells In DC

    Hogan Lovells said Monday that it has brought on a former Allen Overy Shearman Sterling tax partner who specializes in spinoffs, cross-border deals and other corporate transactions.

  • December 02, 2024

    DEA Asserts Its Role As Proponent Of Pot Rescheduling Plan

    The Drug Enforcement Administration on Monday affirmed it was acting as the proponent of a proposal to loosen federal restrictions on marijuana, and the administrative law judge said supporters of rescheduling would not get an opportunity to cross-examine DEA witnesses.

  • December 02, 2024

    Justices On Fence In Tax Clawback Case For Defunct Utah Co.

    U.S. Supreme Court justices seemed divided during oral arguments Monday over whether the Tenth Circuit was correct to allow the bankruptcy trustee of a defunct Utah company to use state law to claw back $145,000 in federal taxes after the two-year deadline, a ruling that has created a 3-1 circuit split.

  • December 02, 2024

    Calif. Biz Owner Can't Deduct Car Expenses, Tax Court Says

    A California business owner failed to prove he is entitled to deductions related to car and truck expenses, the U.S. Tax Court said in a decision released Monday.

  • December 02, 2024

    IRS Finalizes Partnership Liability Regs After 11 Years

    The Internal Revenue Service unveiled final regulations governing the allocation of partnership liabilities 11 years after releasing the proposed rules, saying no subsequent legislative and regulatory changes had taken place to compel the agency to otherwise renew the rulemaking process.

  • December 02, 2024

    IRS Regs Would Broaden Exception For Unmarked Vehicles

    Unmarked vehicles used by firefighters or members of a rescue squad or ambulance crew would be considered a new type of qualified nonpersonal use vehicle that is exempted from substantiation requirements under regulations proposed Monday by the Internal Revenue Service.

  • December 02, 2024

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's latest weekly bulletin included updates to tax interest and applicable federal rates as well as the corporate bond monthly yield curve.

  • November 27, 2024

    Georgia Couple Asks Full DC Circ. To Review Tax Case

    A Georgia couple whose challenge of a 2019 tax collection was denied by both the U.S. Tax Court and a D.C. Circuit panel is asking for the full appellate court to reconsider its ruling.

  • November 27, 2024

    US Says Prof's 8th Amendment Argument Fails In FBAR Case

    An 86-year-old former professor cannot claim that his $545,000 penalty for failing to report foreign bank accounts violates the Eighth Amendment, the U.S. told a federal court, saying the penalty is neither excessive nor a fine, and that he never raised the argument before.

  • November 27, 2024

    Up Next At The High Court: Transgender Care, Holocaust Art

    The U.S. Supreme Court will return to the bench Monday for its December arguments session, which will include blockbuster questions about the constitutionality of state laws banning gender-affirming care for transgender minors and whether Hungary can be held liable for property stolen during World War II.

  • November 27, 2024

    US Seeks FBAR Penalties Over $1.7M In Foreign Accounts

    A Texas woman should face penalties for willfully failing to disclose foreign bank accounts from 2011 through 2013, which held balances exceeding $1.7 million, the U.S. government told a federal court Wednesday.

  • November 27, 2024

    Attys, Insurance Broker Seek Appeal In $22M Tax Scheme

    Two attorneys and an insurance agent plan to appeal to the Fourth Circuit their convictions in a criminal case that accused them of participating in a $22 million tax avoidance scheme, according to Wednesday filings in North Carolina federal court.

  • November 27, 2024

    Ex-FBI Informant In Biden Case Wants Tax Charges Separate

    A former FBI informant accused of making fake criminal accusations against President Joe Biden and his son, Hunter Biden, told a California federal court that new tax evasion charges against him should remain separate because the two cases are unrelated.

Expert Analysis

  • How Methods Are Evolving In Textualist Interpretations

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    Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.

  • Why Attorneys Should Consider Community Leadership Roles

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    Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.

  • Firms Must Offer A Trifecta Of Services In Post-Chevron World

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    After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

  • 5 Tips To Succeed In A Master Of Laws Program And Beyond

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    As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.

  • Pros, Cons Of Disclosing Improper Employee Retention Credit

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    Employers considering the Internal Revenue Service’s second voluntary disclosure program, which allows companies to avoid penalties for erroneously claiming employee retention credits for the 2021 tax year by repaying the credits and naming the tax advisers who encouraged these abusive practices, should carefully weigh the program’s benefits against its potential drawbacks, say attorneys at Winston & Strawn.

  • How Law Firms Can Avoid 'Collaboration Drag'

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    Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.

  • Litigation Funding Disclosure Key To Open, Impartial Process

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    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

  • Whistleblowers Must Note 5 Key Differences Of DOJ Program

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    The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.

  • What NFL Draft Picks Have In Common With Lateral Law Hires

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    Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.

  • Replacing The Stigma Of Menopause With Law Firm Support

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    A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.

  • Planning Law Firm Content Calendars: What, When, Where

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    During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.

  • Brownfield Questions Surround IRS Tax Credit Bonus

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    Though the IRS has published guidance regarding the Inflation Reduction Act's 10% adder for tax credits generated by renewable energy projects constructed on brownfield sites, considerable guesswork remains as potential implications seem contrary to IRS intentions, say Megan Caldwell and Jon Micah Goeller at Husch Blackwell.

  • Law Firms Should Move From Reactive To Proactive Marketing

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    Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.

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