Federal

  • February 28, 2024

    COVID Fraud Jury Can't Hear Of Gov't's Loan Error, Feds Say

    A jury shouldn't be shown evidence of the U.S. government's error in approving a Michigan business owner's application for a Paycheck Protection Program loan while he was under indictment, federal prosecutors have argued.

  • February 28, 2024

    Timeline Rule For Assessing Tax Not Retroactive, Court Says

    A former corporate executive who received a $26 million buyout and then rolled the proceeds over to a retirement account incorrectly claimed that an amended statute of limitations exempted him from paying a penalty, the U.S. Tax Court ruled Wednesday.

  • February 28, 2024

    GOP Reps. Press IRS On Backdating Forms In Easement Case

    Two House Republican tax writers pressed the Internal Revenue Service for details on how it would prevent agency employees from inappropriately backdating official tax documents after the agency admitted last year to doing so in a high-profiled suit involving conservation easement penalty forms.

  • February 28, 2024

    Divorced Woman Can Get Spousal Relief, Tax Court Says

    A divorced woman has satisfied the requirements for innocent spousal relief despite an attempt by her ex-husband to refute her claim, the U.S. Tax Court ruled Wednesday.

  • February 28, 2024

    IRS Delays Tax Deadlines After Wash. Wildfires

    Certain taxpayers in Washington state will have extra time to file tax returns and make payments following wildfires last year, the Internal Revenue Service said Wednesday.

  • February 28, 2024

    Court Should Block IRS 'Fishing Expedition,' Company Says

    A company that claims it has been the victim of an Internal Revenue Service "fishing expedition" after being hit with a raft of document requests urged a Georgia federal judge Tuesday to keep alive its bid to quash the summonses, telling the court the government overstepped its bounds in seeking "a wide variety of duplicative, irrelevant, and unrelated information."

  • February 28, 2024

    Stalled Pillar 1 Raises Specter Of EU Digital Tax

    The stalling at the international level of a redistribution of taxing rights known as Pillar One is raising questions about whether the European Union would revive a digital tax, which it had put aside hoping Pillar One would succeed.

  • February 28, 2024

    IRS To Hold Hearing On Donor-Advised Fund Excise Tax Regs

    The Internal Revenue Service will hold a public hearing in May on proposed regulations regarding excise taxes on certain taxable distributions made from donor-advised funds, the agency announced Wednesday.

  • February 28, 2024

    IRS Adds 36 Tax Court Sessions To Calendar

    The Internal Revenue Service named calendar administrators for 36 U.S. Tax Court sessions in March, April and May on Wednesday, bringing the total number of upcoming sessions to 72.

  • February 27, 2024

    TaxAct Filers Ink $23M Deal Over Meta, Google Info Sharing

    TaxAct Inc. customers have asked a California federal judge to greenlight a settlement they say is worth more than $23 million and would resolve class claims accusing the tax preparation company of secretly sharing confidential taxpayer information with Meta Platforms Inc. and Google.

  • February 27, 2024

    US Biz Group Urges Treasury Against Basis Denial Rule

    The U.S. Treasury Department should rethink its proposed upcoming rule that would deny the basis that U.S. companies have in particular foreign affiliates involved in certain inbound transactions, the National Foreign Trade Council said in a letter made public Tuesday.

  • February 27, 2024

    IRS Opens Free E-File Pilot To More New Users

    The Internal Revenue Service temporarily reopened its free electronic filing pilot program to more new users Tuesday in the 12 states where taxpayers can participate, an agency official said in a statement.

  • February 27, 2024

    IRS Hires 2 To Lead Digital Asset Efforts

    The Internal Revenue Service hired two staffers to assist with forming the agency's approach to cryptocurrency and other digital assets, the agency announced Tuesday.

  • February 27, 2024

    IRS Delays Deadlines For San Diego Storm Victims

    Certain deadlines for San Diego-area taxpayers have been postponed following severe storms and flooding in the area, the Internal Revenue Service announced Tuesday.

  • February 27, 2024

    Tax Court Couldn't Rule On Whistleblower Claims, Circ. Told

    The U.S. Tax Court lacked authority to rule on two of a tipster's three claims that the IRS should have given him a whistleblower award, the government told the D.C. Circuit, urging it to vacate a decision even though it upheld the agency's denial of the payout requests.

  • February 27, 2024

    DOL Finalizing ERISA Voluntary Correction Program Changes

    A top official with the U.S. Department of Labor's employee benefits arm said Tuesday that the agency expects to soon finalize changes to a program allowing retirement plan managers to voluntarily self-correct when they fail to forward employee contributions on time or make other transaction errors.

  • February 27, 2024

    IRS Nixes Digital Filing Of Form For Foreigners For 2 Years

    Certain withholding agents will not be required to electronically file a form relating to U.S.-based income of foreigners in 2024 and 2025, the Internal Revenue Service announced Tuesday.

  • February 26, 2024

    Ex-Bank CFO Cops To $700K Theft And Life Insurance Scam

    An ex-Eastern International Bank chief financial officer has pled guilty to defrauding the bank out of more than $700,000 to pay his personal expenses, and he admitted to opening life insurance policies in the names of bank employees to benefit his wife, according to the U.S. Department of Justice.

  • February 26, 2024

    US Can Bring Quick Appeal In Donor Reporting Rule Fight

    The federal government can immediately appeal a ruling that would require it to prove a strong governmental interest in forcing nonprofits to report their major donors, an Ohio federal court decided Monday, saying there's significant room for a difference of opinion on the matter.

  • February 26, 2024

    Wealth Taxes Bring In Small Part Of G20 Revenue, Oxfam Says

    Roughly 8% of tax revenue collected by Group of 20 countries is raised from wealth taxes on average, compared with over 32% from taxes on goods and services, anti-poverty group Oxfam said Monday ahead of a G20 meeting in Brazil.

  • February 26, 2024

    Inmate, 8 Others Charged In Trafficking, Tax Fraud Schemes

    A California prison inmate has been charged along with eight other individuals with operating two separate illegal schemes: one to distribute methamphetamine and another to fraudulently claim over $550 million in COVID-19-based tax credits.

  • February 26, 2024

    More Analysis Needed In Lithium Pricing Guide, Groups Say

    Functional analysis of multinational corporate groups should be included in a list of factors that could highly influence market prices within a transfer pricing framework for lithium, industry groups and accountants told the OECD in letters published Monday.

  • February 26, 2024

    Estate Correctly Taxed On Insurance Payout, Justices Told

    The U.S. Supreme Court should affirm a decision denying a tax refund to the estate of an owner of a building materials company that used a payout from his $3.5 million life insurance policy to purchase his shares in the business, the federal government argued.

  • February 23, 2024

    FTC Rips H&R Block's 'Deceptive' Marketing, 'Coercive' Ploys

    The Federal Trade Commission filed an administrative complaint against H&R Block claiming the tax preparation company deceptively marketed some products as "free" and "coerced" people to pay for pricier products, the government agency announced Friday.

  • February 23, 2024

    'Empire' Star Owes Income Tax After Threatening DOJ Atty

    "Empire" actor Terrence Howard owes more than $900,000 in federal income taxes under a default judgment by a Pennsylvania federal judge that follows a monthslong search by the government to notify the actor of the suit, during which he threatened a government attorney.

Expert Analysis

  • What New Calif. Strike Force Means For White Collar Crimes

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    The recently announced Central District of California strike force targeting complex corporate and securities fraud — following the Northern District of California's model — combines experienced prosecutorial leadership and partnerships with federal agencies like the IRS and FBI, and could result in an uptick in the number of cases and speed of proceedings, say attorneys at MoFo.

  • Reimagining Law Firm Culture To Break The Cycle Of Burnout

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    While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • The Legal Industry Needs A Cybersecurity Paradigm Shift

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    As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.

  • As Promised, IRS Is Coming For Crypto Tax Evaders

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    The IRS is fulfilling its promise to crack down on those who have neglected to pay taxes on cryptocurrency earnings, as demonstrated by recently imposed prison sentences, enforcement initiatives and meetings with international counterparts — suggesting a few key takeaways for taxpayer compliance, say attorneys at BakerHostetler.

  • 5 Reasons Associates Shouldn't Take A Job Just For Money

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    As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.

  • The Pop Culture Docket: Judge Djerassi On Super Bowl 52

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    Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.

  • Parsing Treasury's Proposed Clean Hydrogen Tax Credit Rules

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    Regulations recently proposed by the IRS and the U.S. Department of the Treasury concerning two types of tax credits for clean hydrogen production facilities should resolve many of the most pressing questions around qualification for the credits — albeit in a relatively stringent manner, say attorneys at Morgan Lewis.

  • Employee Experience Strategy Can Boost Law Firm Success

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    Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.

  • 6 Practice Pointers For Pro Bono Immigration Practice

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    An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.

  • Lessons From Country Singer's Personal Service Saga

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    Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.

  • 7 E-Discovery Predictions For 2024 And Beyond

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    The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.

  • 5 Litigation Funding Trends To Note In 2024

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    Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.

  • Tech CEO Tax Ruling A Warning For Forward Contracts

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    In McKelvey v. Commissioner, the U.S. Tax Court decided that deceased Monster.com founder Andrew McKelvey terminated his underlying obligations when he extended variable prepaid forward contracts, demonstrating why startup founders, early employees and investors should think carefully before amending derivative agreements, say Daren Shaver and Trent Tanzi at Hanson Bridgett.

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