Federal

  • November 18, 2024

    6th Circ. Pauses IRS Summons For Eaton Worker Docs

    The Sixth Circuit said Eaton Corp. doesn't have to comply with an IRS demand to produce performance reviews for its foreign employees until the appellate court decides whether to overturn a decision that the agency's transfer pricing investigation of the multinational power management company outweighed worker privacy concerns.

  • November 18, 2024

    Tobacco Co. Asks Justices To Review Ore. Out-Of-State Tax

    Actions in Oregon by the wholesale customers of an out-of-state tobacco company do not invalidate the protections in federal law against state taxation, the company told the U.S. Supreme Court, seeking review of an Oregon Supreme Court decision.

  • November 18, 2024

    Loan Provider Owed $34M In Retention Credits, Court Told

    A mortgage loan company based in New York asked a federal court to award it more than $34 million in pandemic-era employee retention tax credits, saying the Internal Revenue Service has failed to respond to three separate claims for the credits.

  • November 18, 2024

    Intuit's GC-Turned-People Chief Sees Comp Reach $15.8M

    An executive who helps oversee financial software company Intuit's workforce and formerly served as its general counsel earned roughly $15.8 million in compensation for fiscal year 2024, most of that from stock awards, a public filing says.

  • November 18, 2024

    Allen Matkins Adds Stradley Ronon Tax Co-Chair In NY

    Allen Matkins Leck Gamble Mallory & Natsis LLP has continued growing its New York office with the addition of the co-chair of Stradley Ronon Stevens & Young LLP's tax department, the firm said Monday.

  • November 18, 2024

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

    The Eleventh Circuit has overturned a decision awarding an excise tax refund to a manufacturer for selling wagons that dry and carry peanuts, saying the refund is reserved for vehicles that are specially designed for off-highway transportation — a test the peanut wagons failed.

  • November 18, 2024

    Tax Interest Rates To Drop In First Quarter Of 2025

    The Internal Revenue Service's interest rates for overpayments and underpayments of tax will drop in the first quarter of 2025, the agency said Monday.

  • November 15, 2024

    The Tax Angle: TCJA Debate, S Corp. Compliance

    From a look at congressional lawmakers ramping up their debate over the expiration of the GOP's 2017 tax overhaul law to the IRS' plans to provide more oversight for pass-through businesses and S corporations, here's a peek into a reporter's notebook on a few of the week's developing tax stories.

  • November 15, 2024

    Poor Counsel Led To Unjust Tax Convictions, Justices Told

    A North Carolina actuary asked the U.S. Supreme Court to review a Fourth Circuit decision denying his bid to reverse his 2016 tax fraud convictions, saying the ruling was based on bad decisions made by his then-trial counsel.

  • November 15, 2024

    Man Gets 6 Years For Tax Evasion With Watches, Casino Chips

    A former New Jersey businessman was sentenced to more than six years in prison and ordered to pay roughly $10.3 million in restitution to the Internal Revenue Service after being convicted of evading taxes using ploys involving luxury watches and casino chips.

  • November 15, 2024

    Hedge Fund Group Urges Trump To Reject 'Punitive' Policies

    A leading industry group representing hedge funds and other alternative asset managers is urging President-elect Donald Trump to abandon "punitive" economic policies and instead propose tax and regulatory relief, including business-friendly priorities at the U.S. Securities and Exchange Commission.

  • November 15, 2024

    Fla. Health Co. Owner Pleads Guilty In $11M Payroll Tax Case

    A Florida healthcare business owner who caused a tax loss to the IRS of nearly $11 million pled guilty in a Miami federal court to failing to pay employment taxes and not filing his income tax returns, the U.S. Department of Justice said Friday.

  • November 15, 2024

    Applicable Federal Rates Set To Increase In Dec.

    Applicable federal rates for income tax purposes will increase across the board in December, reversing a decline spanning months, the Internal Revenue Service said Friday.

  • November 15, 2024

    Taxation With Representation: Cravath, MoFo, Gibson Dunn

    In this week's Taxation With Representation, Cardinal Health takes a majority stake in GI Alliance and acquires Advanced Diabetes Supply Group, Just Eat offloads Grubhub to Wonder Group, Rivian Automotive and Volkswagen Group launch a joint venture, and Ovintiv Inc. buys Montney Basin assets from Paramount Resources Ltd.

  • November 15, 2024

    Judge Advises Axing Bank's Home Stake In $1.7M Tax Dispute

    A federal magistrate judge recommended jettisoning any interest of JPMorgan Chase Bank NA in a California home the government wants to sell to recover $1.7 million in taxes, saying the bank, as a loan holder, hasn't responded to the government's lawsuit seeking the sale.

  • November 15, 2024

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's weekly bulletin, issued Friday, included increases to the annual amount employees can contribute to various retirement plans as part of the agency's cost-of-living adjustments.

  • November 14, 2024

    Cos. Tell Court To Make IRS Process Worker Retention Credits

    Two companies that help clients obtain pandemic-era employee retention tax credits asked an Arizona federal court to stop the Internal Revenue Service from issuing what they claim are batch denials based on faulty automated systems, saying the agency is required to individually review all claims.

  • November 14, 2024

    TIGTA Head Pick Pledges To Support IRS Modernization

    President Joe Biden's pick for Treasury inspector general for tax administration pledged during a Senate panel nomination hearing Thursday to support the Internal Revenue Service's modernization efforts and be as apolitical as his predecessor.

  • November 14, 2024

    Widow Owes $613K After Mexican Tax Dodge, US Tells Court

    The widow of a Texas man faces $613,000 in penalties that her husband incurred by failing to report his foreign bank accounts, the U.S. told a federal court, arguing that she participated in a Mexican real estate transaction to avoid paying the penalties he owed.

  • November 14, 2024

    Senate Fills Last Remaining Tax Court Seat

    The Senate approved the last of President Joe Biden's nominees to serve on the U.S. Tax Court, marking the sixth judge the chamber has confirmed to the court this year.

  • November 14, 2024

    IRS Asks Court To Toss Woman's Inheritance Tax Penalty Suit

    A woman who missed the deadline for reporting that she received a $350,000 inheritance isn't allowed to sue the IRS for acting arbitrarily in charging her a late penalty because other remedies to her complaint are available to her, the agency told a California federal court Thursday.

  • November 14, 2024

    New Clean Electricity Credits At Risk In 2025 Tax Talks

    Clean electricity tax credits in the Democrats' signature climate law could be scaled back amid next year's effort by President-elect Donald Trump and GOP lawmakers to quickly renew expiring provisions of the 2017 Tax Cuts and Jobs Act once they're in office.

  • November 14, 2024

    Duo Charged With Hacking Tax Firms In Refund Fraud Scheme

    Boston federal prosecutors have unsealed charges against two men who allegedly used information hacked and stolen from Massachusetts tax preparation firms to pocket more than $1.3 million from fraudulent tax returns.

  • November 14, 2024

    DC Circ. Won't Rethink Denial Of Church Tax Exemption

    The D.C. Circuit rejected a request to reconsider the tax status of an Iowa church that used a psychedelic drug in its rites, letting stand its decision that because the church uses a federally illegal drug, it isn't entitled to tax-exempt status.

  • November 13, 2024

    Judge Cites 'Deterrence' In Attys' Tax Scheme Prison Sentence

    Two St. Louis tax attorneys and a North Carolina insurance agent's pleas for leniency were largely ignored Wednesday by a federal judge sentencing them for their role in a multimillion-dollar tax avoidance scheme, with the judge declaring that the need for public deterrence was too great to let them off the hook without prison time.

Expert Analysis

  • 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.

  • The Big Issues A BigLaw Associates' Union Could Address

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    A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.

  • 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.

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