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Federal

  • May 05, 2025

    Novelist Owes $715K In FBAR Penalties, US Says

    A Japanese author with U.S. citizenship faces penalties exceeding $715,000 for failing to report accounts she held at a Swiss bank, the U.S. government told a California federal court.

  • May 02, 2025

    Tax Case Can Proceed Despite Late Name Change, Court Says

    The owner of a mail-order medical equipment company can move forward with his lawsuit against the federal government seeking to deduct a $5 million settlement payment, even though he didn't technically add his name to the case until after the deadline, the Court of Federal Claims said.

  • May 02, 2025

    Money Laundering, Tax Charges Nixed Vs. Crypto Operator

    An Indiana federal judge dismissed the U.S. government's cases against a man accused of operating an unlicensed money transmitting business, laundering proceeds through cryptocurrency transactions and failing to file tax returns after finding his business was not subject to registration requirements, as the government had maintained.

  • May 02, 2025

    Nixon Peabody Appoints Finance, Tax Partner As DC Leader

    Nixon Peabody LLP has appointed a more than 20-year veteran of the firm as its Washington, D.C., office managing partner, who focuses his practice on a range of corporate, finance and real estate matters, according to a Thursday announcement.

  • May 02, 2025

    Groups Seek Order Halting Trump's Restructuring Of Gov't

    A California district court must stop federal agencies from moving ahead with President Donald Trump's directive to reorganize and terminate government workers, unions and other groups argued, calling for a temporary restraining order based on alleged harms from the administration's "radical restructuring."

  • May 02, 2025

    White House Budget Seeks $2.5B Cut From IRS Funding

    The Internal Revenue Service's budget would be cut by nearly $2.5 billion compared with 2025 under the 2026 budget request released Friday by President Donald Trump's administration.

  • May 02, 2025

    IRS Updates Rates For Foreign Insurance Company Equations

    The Internal Revenue Service on Friday published updated domestic asset/liability and yields percentages for 2024 that foreign life insurance companies and foreign property and liability insurance companies need to compute their minimum effectively connected net investment income.

  • May 02, 2025

    Taxation With Representation: Goodwin, Haynes Boone

    In this week's Taxation With Representation, Merck buys SpringWorks Therapeutics, Novartis AG acquires Regulus Therapeutics Inc., Sabre Corp. sells its Hospitality Solutions business to private equity shop TPG, and TWG Global and Mubadala Capital team up to bolster their investments.

  • May 02, 2025

    Community Groups Accept Pause In CTA Litigation

    A group of community associations has told the Fourth Circuit they aren't opposed to a government motion to pause litigation over the Corporate Transparency Act, even as they maintained the information disclosure law aimed at small businesses still carries constitutional flaws.

  • May 02, 2025

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service's weekly bulletin, issued Friday, included its announcement of plans to revoke partnership basis-shifting regulations that were finalized earlier this year.

  • May 01, 2025

    IRS Successfully Targeting Rich Nonfilers, But Can Improve

    The Internal Revenue Service's targeted sweeps of so-called high-income nonfilers have largely been successful in closing cases and collecting revenue, but the agency could do more to target certain areas and collect tracking data better, the Treasury Inspector General for Tax Administration said.

  • May 01, 2025

    Multinationals Grapple With Tariff-Induced Pricing Issues

    President Donald Trump's flurry of tariff actions since taking office has created new questions for multinationals and their transfer pricing tax planners, including how to properly account for cost increases associated with new duties in related party transactions.

  • May 01, 2025

    Trump Picks Tax Controversy Pro For IRS Chief Counsel Spot

    President Donald Trump has tapped a former Internal Revenue Service chief counsel to return to the role, and if he is confirmed, it will represent the second time in his career that the veteran tax controversy professional will be the agency's top attorney.

  • May 01, 2025

    Tax Court Shuts Out Indirect Partners In Easement Dispute

    Indirect partners who owned a small percentage of a partnership that settled a conservation easement deduction dispute with the IRS cannot intervene before the deal is final, the U.S. Tax Court ruled Thursday, saying they missed their chance to participate.

  • May 01, 2025

    Estate Pushes Back On IRS In DC Circ. Lost Records Case

    The estate of a man whose offshore businesses were raided by the IRS, giving rise to a nearly $18 million tax judgment, criticized the agency's effort to rebuff the estate's claims to the D.C. Circuit that the IRS fraudulently claimed that boxes of evidence in ensuing litigation were lost.

  • May 01, 2025

    IRS Updates Inflation-Adjusted HSA Amounts For 2026

    The Internal Revenue Service issued inflation-adjusted amounts Thursday for health savings accounts for 2026, as well as the maximum amount that may be made available for excepted benefit health reimbursement arrangements.

  • May 01, 2025

    Ex-Informant Who Smeared Bidens, Evaded Tax A 'Flight Risk'

    A former FBI informant won't be released while he appeals his six-year prison sentence for tax evasion and falsely telling federal agents that a Ukrainian energy company paid off President Joe Biden and his son Hunter, a California federal judge ruled, saying he's a "flight risk."

  • May 01, 2025

    Hunter Biden Drops Tax Privacy Case Against IRS

    Hunter Biden dropped his suit 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.

  • May 01, 2025

    Nelson Mullins Lands Porter Hedges Tax Pro In Houston

    Nelson Mullins Riley & Scarborough LLP announced Thursday that it has fortified its tax controversy and litigation team with a partner in Houston who came aboard from Porter Hedges LLP.

  • May 01, 2025

    Taxpayer Advocacy Panel Joint Committee To Meet In May

    The Taxpayer Advocacy Panel's Joint Committee will meet May 22, it announced Thursday, following meetings on customer service improvements for its various subcommittees earlier in the month.

  • April 30, 2025

    House Judiciary Panel OKs Broadening PL 86-272 Protections

    The U.S. House Judiciary Committee advanced legislation on Wednesday that would impose more restrictions on state tax authorities to levy income taxes on out-of-state businesses, approving changes to P.L. 86-272 in the panel's portion of the federal budget reconciliation bill.

  • April 30, 2025

    Senate Rejects Bill To End Trump's Nat'l Emergency On Tariffs

    The U.S. Senate narrowly rejected a bipartisan bill Wednesday that sought to end the national emergency declared by President Donald Trump to underpin his global tariff regime, with two senators absent for the vote, and with U.S. House consideration delayed until October.

  • April 30, 2025

    Coinbase Urges Justices To Take User's IRS Data Seizure Suit

    Crypto exchange Coinbase on Wednesday urged the U.S. Supreme Court to firm up privacy rights around digital information stored with third parties, backing a petition by a Coinbase user who's challenging the Internal Revenue Service's seizure of his account records.

  • April 30, 2025

    IRS Likely To Feel Strain Of Layoffs Now Filing Season's Over

    The IRS's filing season ran relatively smoothly with minimal disruptions to customer service and taxpayer assistance, but the impending loss of a quarter of the agency's employees is already wearing on its workforce and will likely erode customer service, refund processing and institutional knowledge, experts say.

  • April 30, 2025

    IRS Properly Sustained Levy For Taxes, Tax Court Says

    An IRS appeals officer properly sustained a proposed tax levy against a Kansas woman who missed her hearing date and failed to share her financial information with the agency after being accused of failing to file returns for three years, the U.S. Tax Court said Wednesday.

Expert Analysis

  • 7 Ways 2nd Trump Administration May Affect Partner Hiring

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    President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.

  • E-Discovery Quarterly: Rulings On Custodian Selection

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    Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.

  • A Look At PCAOB's Record-Breaking Enforcement In 2024

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    The Public Company Accounting Oversight Board in 2024 brought more enforcement actions against auditors and imposed increasingly higher monetary penalties, showing that it was not afraid to exercise its power to fine and reprimand firms, a trend that will likely continue in 2025, say attorneys at Briglia Hundley.

  • Exploring Venue Strategy For Trump-Era Regulatory Litigation

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    Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.

  • An Associate's Guide To Career Development In 2025

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    As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.

  • Fixing Up Cars Makes Me A Better Lawyer

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    From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.

  • A New Tax On Employers Could Help Curb Illegal Immigration

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    To better enforce the law against hiring immigrants unauthorized to work in the U.S., Congress should enact a punitive excise tax on compensation paid to such immigrants and amend the False Claims Act to allow qui tam actions against employers for failure to pay such tax, says Ajay Gupta at Moore Tax Law Group.

  • Making The Pitch To Grow Your Company's Legal Team

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    In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.

  • Justices May Find Gov't Can Keep Fraudulent Transfer Benefit

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    Based on the justices' questions at the recently argued U.S. v. Miller, the Supreme Court appears prepared to hold that the U.S. — unlike any other creditor — is permitted to retain the benefits of a fraudulent transfer to the detriment of other bankruptcy creditors, says Kevin Morse at Clark Hill.

  • Tax Court Should Update Framework For Defining Insurance

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    ​​​​​​​The U.S. Tax Court's unnecessary determination in Royalty Management Insurance v. Commissioner that a fraudulent transaction did not contain the hallmarks of a legitimate insurance transaction applies an outdated analysis that threatens the captive insurance sector and illustrates the need for a more modern framework to define true insurance, says Matthew Queen at the Queen Firm.

  • When US Privilege Law Applies To Docs Made Outside The US

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    As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.

  • Impact Of Corporate Transparency Act Ambiguity On Banks

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    Even though banks generally needn't file beneficial ownership information reports, financial institutions must continue to monitor the status of the Corporate Transparency Act and understand its requirements in case the nationwide injunction that was issued against the CTA earlier this month is overturned, say attorneys at Armstrong Teasdale.

  • 6 Changes I Would Make If I Ran A Law School

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    Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.

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