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FTC Noncompete Ban Raises Stakes For Nonprofit Hospitals

The Federal Trade Commission seems eager to apply its employee noncompete ban to healthcare, with a key target in ... (more story)

Nixing Green Energy Tax Perks Would Be Tough For Trump

Former President Donald Trump has vowed to scrap Democrats' signature 2022 climate law should he get reelected in ... (more story)

New Domestic Content Guidance May Boost Energy Credits

The U.S. Treasury Department's new guidance on bonus tax credits for clean energy projects that source domestic-ma... (more story)

Federal More

House Sends Disaster Tax Relief Bill To Senate

The U.S. House of Representatives overwhelmingly passed legislation Tuesday that would exclude disaster relief payments from a taxpayer's gross income, sending the bill to the Senate.

Wyden Expands Pharma Tax Investigation With Pfizer Inquiry

Senate Finance Committee Chairman Ron Wyden asked Pfizer to provide details on its tax practices to explain how the drug company has consistently paid tax rates that are significantly lower than the corporate ... (more story)

CohnReznick Adds PwC Partner To International Tax Practice

CohnReznick has a new principal in its international tax practice who previously served as a partner at PwC, the firm announced.

Decision On Direct File Future Is Close, Werfel Says

The Internal Revenue Service is nearing a decision on the future of its free electronic tax return filing pilot program, Commissioner Daniel Werfel told reporters Tuesday.

Oil Estate Off The Hook For $9M Gift Tax, Tax Court Rules

The estate of a woman who owned an oil company with her husband then terminated marital trusts after he died does not owe more than $9 million in gift taxes on the related transactions as the IRS had claimed, ... (more story)

22 States Tell 11th Circ. Corp. Transparency Act Goes Too Far

The federal Corporate Transparency Act unconstitutionally displaces state authority and its enforcement would economically harm states and their residents, attorneys general from 22 states told the Eleventh Ci... (more story)

Senate Dems Float Tax-Advantaged Child Savings Accounts

Senate Democrats want to create tax-advantaged savings accounts to help children save from the time they are born, they said during a Finance Committee hearing Tuesday, but their Republican counterparts are un... (more story)

State & Local More

SC Justices Urged To Review $12.5M Amazon Tax Dispute

South Carolina's highest court should review an appeals court's opinion that Amazon was required to collect and remit sales tax on products sold on its marketplace in 2016 and owes the state $12.5 million in t... (more story)

Tax Assessment: Recapping Georgia's Legislative Session

Jonathan Feldman and Alla Raykin at Eversheds Sutherland examine tax-related changes from Georgia’s General Assembly — such as the governor’s successful push to accelerate income tax cuts — and suggest steps t... (more story)

Strategic Hiring Was The New Normal For BigLaw In 2023

The 400 largest law firms by headcount in the U.S. grew more slowly in 2023 than in the previous two years, while Kirkland & Ellis LLP surpassed the 3,000-attorney threshold, according to the latest Law360 ranking.

The Law360 400: Tracking The Largest US Law Firms

The legal market expanded more tentatively in 2023 than in previous years amid a slowdown in demand for legal services, especially in transactions, an area that has been sluggish but is expected to quicken in the near future.

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... (more story)

Ex-Conn. Town Atty Sues Over 'False' Ethics Complaint

Former Newington, Connecticut, town attorney Benjamin Ancona Jr. and other former officials took the Hartford-area suburb to state court claiming the town's assessor and others defamed them in and regarding a ... (more story)

Colo. To Impose Fee On Car Rentals To Fund Rail Projects

Colorado will impose a daily fee on vehicle rentals to raise funding for rail and transit infrastructure projects under legislation signed by Democratic Gov. Jared Polis that could be subject to litigation or ... (more story)

Feds Fight Proposed Delay In Hunter Biden's Tax Trial

Hunter Biden shouldn't be allowed to delay his criminal tax trial in California just because his lead attorney says the dates run up against Biden's upcoming trial in Delaware on firearms charges, the special ... (more story)

Home Distillers Tell Feds Ban Fails Under Spirit Of The Law

The Hobby Distillers Association said the federal government is exceeding its constitutional powers and treading on states' rights by banning homemade liquor under its taxing authority, as the group laid out i... (more story)

International More

I Am An Honest Man, British Trader Tells £1.4B Fraud Trial

Sanjay Shah, a former hedge fund owner who is accused of defrauding Denmark's tax authority out of £1.4 billion ($1.8 billion), told a London court on Tuesday that he is an "honest man" who traded using a legal "loophole."

India's Top Court Says Accounting Body Can Limit Tax Audits

India's regulatory association for accountants has the authority to limit the amount of tax audits performed by an individual accountant to 60, the Supreme Court of India ruled — even as it canceled ongoing di... (more story)

IRS Guidance Plan Should Cover Corp. AMT, AICPA Says

The Internal Revenue Service should provide guidance on the definitions and applications of the 15% corporate alternative minimum tax, among other topics, the American Institute of Certified Public Accountants... (more story)

Koch-Tied Group Says Transparency Law Offends Federalism

The Corporate Transparency Act is unconstitutional because it does not regulate interstate commerce yet mandates that state-registered entities disclose personal information, a conservative group affiliated wi... (more story)

Credit Suisse Can't Reverse $21.3M Biz Loss Denial

Credit Suisse cannot carry forward $21.3 million in business losses from 2015-2017 to its 2018 Michigan tax return, a state appeals court said, letting stand a ruling that the bank miscalculated its business i... (more story)

Transfer Pricing Deal Needed For Pillar 1, OECD Official Says

It's crucial for countries to agree on transfer pricing policies under an international profit reallocation agreement known as Pillar One as they work toward their end-of-June deadline to sign a related multil... (more story)

Taxation With Representation: Wachtell Lipton, Freshfields

In this week's Taxation with Representation, Nippon Life acquires Corebridge Financial, Crescent Energy buys SilverBow Resources and Uber purchases Foodpanda.