Federal

  • February 21, 2024

    Hunter Biden Wants Tax Case Nixed For Trump Interference

    Hunter Biden asked a California federal court to drop a set of criminal tax charges against him, saying that former President Donald Trump is improperly driving the prosecution and that politicians are "openly interfering" with the case.

  • February 21, 2024

    Sheppard Mullin Adds Ex-Foley Hoag White Collar Partner

    Sheppard Mullin Richter & Hampton LLP announced it has hired a former partner from Foley Hoag LLP who focuses his practice on white collar matters to join the firm's Washington, D.C., office.

  • February 21, 2024

    IRS Seeks Comment On Taxable Substances List Additions

    The Internal Revenue Service asked for feedback Wednesday on the potential addition of two substances to the Internal Revenue Code's list of taxable substances.

  • February 20, 2024

    Media Broker Gets 15 Months For Hiding $19.5M From IRS

    A media broker was sentenced to 15 months in prison Tuesday after admitting she concealed $19.5 million in income from the Internal Revenue Service.

  • February 20, 2024

    Ex-BigLaw Atty Avoids Prison For Ch. 11 Lies

    A former BigLaw partner on Tuesday was spared any prison time for lying to a New York bankruptcy court in his 2022 personal Chapter 11 case, in an attempt to shield his assets from creditors.

  • February 20, 2024

    Philly Woman Asks Justices To Review City's Tax Credit Policy

    Philadelphia's refusal to credit a woman's Delaware state income taxes paid against her city wage tax liabilities unconstitutionally discriminates against interstate commerce, the woman argued Tuesday in asking the U.S. Supreme Court to review a Pennsylvania Supreme Court ruling in the city's favor.

  • February 20, 2024

    Son's $63M Tax Deal Puts Diamond King's Widow In The Clear

    The federal government agreed to stop pursuing the widow of a diamond mogul to recover millions in tax liabilities connected to her husband and his estate after their adult son agreed to pay $63 million, according to a New York federal court order Tuesday.

  • February 20, 2024

    Tax Court Rejects NY Couple's Expense Deductions

    A New York couple is not able to deduct an assortment of expenses after failing to substantiate them, the U.S. Tax Court ruled Tuesday.

  • February 20, 2024

    Tax Court Nixes NYC Site's Eligible-Basis Adjustments By IRS

    Tax-exempt bond issuance costs will not be excluded from a New York City building's eligible basis for the low-income housing credit, the U.S. Tax Court ruled Tuesday.

  • February 20, 2024

    Tax Court's Chief Judge Reelected To 2nd Term

    The U.S. Tax Court's chief judge was reelected to a second two-year term as the head of the court, the Tax Court announced.

  • February 20, 2024

    Third-Party Payers Liable For Employment Tax Shortcomings

    Certain third-party payers that improperly claim employment tax credits for a client are liable for any potential underpayments, the Internal Revenue Service said in a chief counsel memorandum.

  • February 20, 2024

    IRS Issues Fix For Tax Treatment Of Gas Upgrading Equipment

    The Internal Revenue Service issued a correction clarifying the tax treatment of certain gas upgrading equipment under proposed rules related to the energy credit.

  • February 20, 2024

    Weekly Internal Revenue Bulletin

    The Internal Revenue Service released its weekly bulletin, which featured a list of those having their 501(c)(3) status revoked.

  • February 20, 2024

    Justices Won't Review Partnership's $26M Easement Row

    The U.S. Supreme Court declined Tuesday to hear a partnership's bid to keep a $26.5 million deduction for a land conservation easement, letting stand a decision that the case was barred by a law that prohibits suits that restrain the collection of taxes.

  • February 16, 2024

    Ga. Man Hit With Charges Over Unemployment, Tax Fraud

    Georgia federal prosecutors unsealed an indictment on Thursday against an Atlanta man charged with using stolen personal information to secure tens of thousands of dollars in unemployment benefits and tax returns.

  • February 16, 2024

    Manufacturers Back 3M In 8th Circ. Transfer Pricing Case

    The National Association of Manufacturers joined the chorus of business groups supporting 3M, asking the Eighth Circuit to throw out transfer pricing regulations that allow the Internal Revenue Service to reallocate income to U.S. group members even when foreign laws prohibit outbound payments.

  • February 16, 2024

    Medtronic Urges 8th Circ. To Undo Transfer Pricing Ruling

    Medical device company Medtronic asked the Eighth Circuit on Friday to overturn a decision rejecting its pricing method for licensing intellectual property to its Puerto Rican affiliate, saying in the long-running case that Medtronic hadn't used the intercompany arrangement to underreport its income.

  • February 16, 2024

    Low Revenue May Drive US To Rethink Anti-Erosion Tax

    The base erosion and anti-abuse tax has been relatively easy to avoid without significant legal risk, tax professionals told Law360, a result that may prompt lawmakers to consider revising or replacing the provision as other major parts of the Tax Cuts and Jobs Act expire at the end of 2025.

  • February 16, 2024

    Conspirators In $3M IRS Refund Check Theft Get Prison Terms

    Two men will serve lengthy prison terms for their role in conspiring to steal and cash a Houston couple's tax refund check worth nearly $3 million, according to sentencing orders filed in Texas federal court.

  • February 16, 2024

    Trump Owes $355M For Fraud That 'Shocks The Conscience'

    A New York state judge on Friday found Donald Trump, his adult sons, his companies and longtime executives liable for a decadelong valuation fraud conspiracy, ordering the defendants to disgorge $364 million in ill-gotten gains to the state, plus interest, with the former president on the hook for the lion's share.

  • February 16, 2024

    Taxation With Representation: Paul Weiss, Kirkland

    In this week's Taxation With Representation, Diamondback buys Endeavor, KKR & Co. acquires a stake in Cotiviti, and Gilead Sciences Inc. purchases CymaBay Therapeutics Inc.

  • February 15, 2024

    Chamber, Others Back 3M In Transfer Pricing Appeal

    The Eighth Circuit should set aside transfer pricing regulations from the U.S. Treasury Department that reallocated $23 million of income from 3M's Brazilian affiliate to the parent company, three trade associations told the court in amicus briefs.

  • February 15, 2024

    Werfel Defends Delay Of $600 Payment Reporting Rule

    Internal Revenue Commissioner Daniel Werfel defended Thursday his decision to delay implementation of a law requiring peer-to-peer payment platforms such as Venmo and PayPal to report aggregate payments of $600 or more, saying the decision was informed by stakeholders.

  • February 15, 2024

    US Extends Deal On Existing Digital Taxes With 5 Countries

    Austria, France, Italy, Spain and the U.K. will continue applying their digital services taxes in light of the extended timeline to implement the Pillar One international profit reallocation agreement, the countries said Thursday in a joint statement with the U.S.

  • February 15, 2024

    Tax On Tribune's Cubs Sale Troubling, 7th Circ. Judge Says

    A Seventh Circuit judge said Thursday he was troubled by an IRS push to tax Tribune Media Co. on some gains from its sale of the Chicago Cubs that stemmed from a $425 million debt transaction, saying the agency seemed to ignore the relevant legal test.

Expert Analysis

  • Parsing Treasury's Proposed Clean Hydrogen Tax Credit Rules

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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.

  • 4 Legal Ethics Considerations For The New Year

    Author Photo

    As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.

  • What The Law Firm Of The Future Will Look Like

    Author Photo

    As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • 4 PR Pointers When Your Case Is In The News

    Author Photo

    Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.

  • Unpacking The Proposed Production Tax Credit Regulations

    Author Photo

    Recently proposed tax regulations for claiming the U.S. clean-energy manufacturers' production credit under Internal Revenue Code Section 45X are less stringent than many had feared but fail to define a fundamental eligibility requirement, say Casey August and Jared Sanders at Morgan Lewis.

  • 10 Considerations For Litigating A New York Tax Case

    Author Photo

    While some of New York’s recently adopted corporate tax regulations are likely to face legal challenges, aggrieved taxpayers should answer certain questions before deciding to embark on the tax litigation process, say Cyavash Ahmadi and Jeffrey Friedman at Eversheds Sutherland.

  • Charting The Course For Digital Assets In 2024

    Author Photo

    Although 2023 was a tough year for the digital asset industry, upcoming court decisions, legislation and regulatory action will bring clarity, allowing the industry to expand and evolve, and the government will decide what innovation it will allow without challenge, says Joshua Smeltzer at Gray Reed.

Can't find the article you're looking for? Click here to search the Tax Authority Federal archive.