Federal

  • October 02, 2024

    IRS Too Lax On Tax Prep Partners' Data Practices, TIGTA Says

    The IRS isn't doing enough to oversee the data protection practices of the tax preparation businesses in its Free File program and has never removed a partner from the program despite some having been sanctioned for unauthorized disclosures of taxpayer information, the Treasury Inspector General for Tax Administration said Wednesday.

  • October 02, 2024

    US Seeks To Drop $1M Tax Suit Against Sleep Clinic Founder

    The U.S. government seeks to drop its case against a sleep clinic founder and his wife, whom it had accused of hiding assets, after the couple agreed to pay their tax liabilities in full, according to a filing in California federal court Wednesday.

  • October 01, 2024

    VP Nominees Vance, Walz Spar Over Tax Cuts

    Vice presidential candidates Sen. J.D. Vance, R-Ohio, and Gov. Tim Walz, D-Mich., laid out their plans for federal tax cuts to create affordable housing and child care, spark new business growth and increase manufacturing during a nationally televised debate Tuesday night.

  • October 01, 2024

    IRS Delays Deadlines, Grants Other Relief Following Helene

    Taxpayers in all or part of seven states will have until May 1 to file individual and business tax returns and make payments after Hurricane Helene hit the area, the Internal Revenue Service said Tuesday, while also granting dyed diesel penalty relief as well.

  • October 01, 2024

    Tax Deadlines Extended For Victims Of Israel-Hamas War

    The Internal Revenue Service said Tuesday that it will postpone tax return and payment deadlines to Sept. 30, 2025, for those affected by the Israel-Hamas war across 2023 and 2024.

  • October 01, 2024

    Amgen Must Face Suit It Misled Investors On $10.7B Tax Bill

    Amgen lost an attempt to escape a potential class action claiming the pharmaceutical giant hid a $10.7 billion tax bill from investors after a New York federal court ruled there was sufficient evidence for the action to proceed.

  • October 01, 2024

    Ex-USTR Official Sees Possible Path Forward For Digital Taxes

    The U.S. may withhold trade threats if it believes countries are having good-faith conversations about concerns that their digital services taxes discriminate against U.S. businesses, including in current talks with Canada, the former general counsel for the Office of the U.S. Trade Representative told Law360.

  • October 01, 2024

    Tax Court Upholds Man's Penalty For Frivolous Return

    The Internal Revenue Service did not abuse its discretion when it determined a California man was liable for a $5,000 penalty for filing a frivolous tax return and sustained a levy against him to collect the penalty, the U.S. Tax Court said Tuesday.

  • October 01, 2024

    High Court Urged To Let Stand IRS Win In Bankruptcy Case

    The U.S. Supreme Court should let stand a decision that late-filed returns prevented a taxpayer from discharging his federal tax debt in bankruptcy, the government argued, saying the taxpayer has inaccurately claimed that issues at the heart of his case have created a significant circuit split.

  • October 01, 2024

    Treasury Plans Final Direct Pay Partnership Regs By Year-End

    The U.S. Treasury Department is eyeing the end of the year to finalize regulations for development projects to elect out of their partnership tax status to qualify for a direct cash payment of their clean energy tax credits, an official said Tuesday.

  • October 01, 2024

    Estate Exaggerating Value Of Exec's Tax Tipoff, DC Circ. Told

    A Dutch bank executive's estate is "vastly" overstating the significance of his tips to the IRS in seeking a whistleblower award for his reporting of tax schemes, the U.S. government told the D.C. Circuit, urging it to uphold the U.S. Tax Court's denial of the award.

  • October 01, 2024

    IRS Delays Tax Deadlines In Ill. After July Storms

    Taxpayers in seven Illinois counties will have until Feb. 3 to file individual and business tax returns and make payments after portions of the state were hit by severe storms and tornadoes in July, the Internal Revenue Service said Tuesday.

  • September 30, 2024

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

    The Eleventh Circuit seemed skeptical of a lower court's decision to award a $37,000 excise tax refund to a manufacturer on its sale of wagons for carrying and drying peanuts, suggesting during oral arguments that the semitrailers may fail to qualify for a tax exemption for off-road vehicles.

  • September 30, 2024

    Biz Owner Gets 18 Months For Tax Fraud On $2.8M In Income

    The owner of a metal fabrication company who admitted to neglecting to report nearly $3 million in business income to the Internal Revenue Service was sentenced to 18 months in prison, according to Connecticut federal prosecutors.

  • September 30, 2024

    IRS Seeks Input On Draft Partnership Basis-Shifting Form

    The Internal Revenue Service asked for comments Monday on a draft form and instructions for partners to disclose all the property they receive from partnerships, part of upcoming regulations meant to target abusive tax avoidance that uses sophisticated partnership basis-shifting transactions.

  • September 30, 2024

    Ex-Jersey Shore Mayor Admits To Benefits Theft, Tax Crimes

    The former mayor of Wildwood, New Jersey, has admitted to unlawfully obtaining state health benefits, failing to disclose his outside employment and neglecting to report income from that job on state tax returns, New Jersey Attorney General Matthew J. Platkin and the Office of Public Integrity and Accountability announced Monday.

  • September 30, 2024

    Feds Seek Prison In Tax Case Linked To 'China Initiative'

    Prosecutors have asked a Texas federal judge for an 18- to 24-month prison sentence for a Chinese-born engineer who pled guilty to tax crimes after being charged with export violations and fraud in a case the defense claims began as an espionage investigation under the U.S. Department of Justice's now-disbanded "China Initiative."

  • September 30, 2024

    IRS Appeals Office Tests Group Mailbox For Large Cos.

    The Internal Revenue Service's Independent Office of Appeals announced Monday that it will test out a program intended to help enhance secure messaging for large businesses with multiple representatives by allowing them to request a group mailbox to communicate with their assigned Appeals employee.

  • September 30, 2024

    Supplement Co. Owes $1.3M Of Ex-Owner's Tax, US Says

    A health supplements company and its owners owe the federal government about $1.3 million in taxes stemming from the liabilities of the company's previous owner, the U.S. said in a complaint Monday in a Connecticut federal court.

  • September 30, 2024

    43K Issues In IRS Application Overdue For Fixes, TIGTA Says

    A review of two Internal Revenue Service system applications discovered that one had more than 43,000 vulnerabilities that were overdue for being patched, the Treasury Inspector General for Tax Administration said in report released Monday. 

  • September 30, 2024

    IRS Grants Relief To Farmers Impacted By Drought

    The Internal Revenue Service granted tax relief Monday to qualified farmers and ranchers in 41 states and other regions that were forced to sell their livestock due to drought conditions, extending the time they have to replace their animals and still defer taxes on capital gains from selling.

  • September 29, 2024

    Hunter Biden's Tax Privacy Case Can Proceed, Judge Says

    Hunter Biden can move forward with his lawsuit 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, a D.C. federal judge ruled.

  • September 27, 2024

    Corporate Raider Accused Of Shirking $180M SEC Judgment

    Corporate takeover specialist Paul A. Bilzerian, accused of ducking a more than $180 million judgment owed to the U.S. Securities and Exchange Commission for decades, was indicted alongside his longtime accountant and his cannabis company on Thursday, California federal prosecutors said Friday.

  • September 27, 2024

    Ex-Citizens' Renunciation Fee Suit Shipped To Claims Court

    A D.C. federal judge ruled that a lawsuit brought by former U.S. citizens seeking a refund on their $2,350 citizenship renunciation fee belongs in the Court of Federal Claims.

  • September 27, 2024

    Constitution Permits Blocked Anti-Laundering Law, Panel Told

    The U.S. government urged the Eleventh Circuit on Friday to reinstate the Corporate Transparency Act passed in 2021, arguing that the anti-money laundering law is within Congress' powers to regulate economic activity and necessary to have businesses report beneficial ownership to combat crimes like tax evasion and terrorist financing.

Expert Analysis

  • A Guide To Long-Term, Part-Time Employee Determinations

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    With final regulations under the Secure Act requiring 401(k) retirement benefits for long-term, part-time employees expected soon, Amy Sheridan and David Guadagnoli at Sullivan & Worcester look at how the proposed rules would shift the risk-reward calculus on excluding categories of employees, and what plan sponsors would need to consider when designing retirement plans.

  • After Chevron: Delegation Of Authority And Tax Regulators

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    The U.S. Department of the Treasury and the Internal Revenue Service will face higher standards following Loper Bright’s finding that courts should determine whether agency rules meet the best possible interpretation of the tax code, as well as the scope of the authority delegated by Congress, says Edward Froelich at McDermott.

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

  • Rock Climbing Makes Me A Better Lawyer

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    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

  • Contract Disputes Recap: Preserving Payment Rights

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    Stephanie Magnell and Zachary Jacobson at Seyfarth examine three recent decisions that together illustrate the importance of keeping accurate records and adhering to contractual procedures to avoid inadvertently waiving contractual rights to cost reimbursements or nonroutine payments.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

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    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • After Jarkesy, IRS Must Course-Correct On Captive Insurance

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    The U.S. Supreme Court’s recent Securities and Exchange Commission v. Jarkesy decision has profound implications for other agencies, including the IRS, which must stop ignoring due process and curtailing congressional intent in its policing of captive insurance arrangements, says Peter Dawson at the 831(b) Institute.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • Class Actions At The Circuit Courts: July Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers cases touching on pre- and post-conviction detainment conditions, communications with class representatives, when the American Pipe tolling doctrine stops applying to modified classes, and more.

  • Now More Than Ever, Lawyers Must Exhibit Professionalism

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    As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.

  • Reading Between The Lines Of Justices' Moore Ruling

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    The U.S. Supreme Court's recent Moore v. U.S. decision, that the Internal Revenue Code Section 965 did not violate the 16th Amendment, was narrowly tailored to minimally disrupt existing tax regimes, but the justices' various opinions leave the door open to future tax challenges and provide clues for what the battles may look like, say Caroline Ngo and Le Chen at McDermott.

  • A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates

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    Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.

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