Energy Cash-Grant Case Casts Light On Investment Tax Credit

Kat Lucero

The U.S. Court of Federal Claims' long-awaited decision on a California wind farm's valuation for a now-defunct cash grant program offers insight into an issue on which the IRS has issued little guidance: how to value clean energy projects financed by the investment tax credit.

Circuit-By-Circuit Guide To The US Supreme Court's Term

Jeff Overley

Federal appeals courts had wide-ranging successes and struggles during the U.S. Supreme Court's recently completed term: One had its best showing in years following its worst showing in years; one felt déjà vu after recently starting to find favor with the justices; and one saw its reputation for independence occupy a rare role in the Supreme Court spotlight.

IRS Ethics Guidance Highlights AI Billing Tensions

Natalie Olivo
Senior Tax Correspondent

Recent IRS ethics guidance urged attorneys to acknowledge the time-saving features of artificial intelligence when billing clients, underlining the legal industry's ongoing reckoning with how, or if, this technology fits into the traditional practice of charging by the hour.

Being A Magician Makes Me A Better Lawyer

The skills I've developed as a lifelong magician have translated directly into tangible benefits in the courtroom because performing magic and trying cases both live at the intersection of psychology, storytelling, timing and disciplined rehearsal, says Mark Dombroff at Fox Rothschild.

A 3-Part Blueprint For Sentencing Variance Arguments

Tom Goldstein’s upcoming sentencing provides a useful lens for defense practitioners seeking a variance from the guidelines range, serving as a reminder to distinguish those requests from guidelines challenges and build an evidence-based case well before the hearing, says Joseph De Gregorio of Sentencing Advocacy Group.

Mich. Banking Brief: All The Notable Legal Updates In Q2

The second quarter brought several notable financial services law developments to Michigan, including a U.S. Supreme Court ruling on state tax foreclosures, progress on a money transmission modernization bill package, and continued legislative momentum on cryptocurrency and mortgage lending, say attorneys at Dykema.

Proof, Not Just Timing, Will Decide Clean Energy Credits

For wind and solar projects that sprinted to begin construction before the accelerated placed-in-service deadline of July 4, project owners must now assemble and maintain documentation to qualify the project and defend against a potential clean energy credit audit, says Peter Lowy at Nelson Mullins.

Choral Singing Makes Me A Better Lawyer

Singing in the New York City Bar Chorus — a hobby partly inspired by the late U.S. District Judge Richard Owen, who infused my clerkship year with opera music — has improved my legal career by refining my abilities to listen, exude confidence and develop emotional intelligence, says Bonnie Baker at Friedman Kaplan.

Tariff Refunds May Reshape Loan Covenant Calculations

Tariff refunds issued after the U.S. Supreme Court's Learning Resources decision may complicate borrowers' covenant calculations depending on accounting treatment, the timing of recognition, customer reimbursement obligations and credit agreement language, say attorneys at Mayer Brown.

Power To The Paralegals: Burnout As A Structural Problem

Law firm leadership can best retain their paralegals not by encouraging self-care, but by seeking top-down structural solutions for the quiet proliferation of responsibilities and the vicarious exposure to client trauma that particularly drive burnout in this vital role, says Erika Sneeringer at Brockstedt Mandalas.

Managing Post-IEEPA Tariff Refunds, Replacements And Risks

Companies and investors reeling from the rapid changes resulting from February's U.S. Supreme Court ruling that the International Emergency Economic Powers Act doesn't authorize tariffs should focus on understanding the duty refund process, the likely replacement tariffs and the operational ways they can minimize their tariff exposure, say attorneys at Debevoise.

Wire Fraud Ruling May Upend White Collar Enforcement

A Texas federal court’s recent decision in U.S. v. Garza, dismissing wire fraud charges arising from an alleged $1 billion tax shelter scheme, advances a broader constitutional principle that could affect sentencing and reshape charging practices across white collar criminal cases involving specialized statutory regimes, say attorneys at Benesch.

Economic Questions To Ask Amid Tariff Refund Class Actions

The U.S. Supreme Court's recent holding that the International Emergency Economic Powers Act doesn't authorize the president to impose tariffs has sparked class actions, but determining whether a retailer received a windfall is complex, even if it passed tariff costs into consumer prices before receiving a refund, say economists at Ankura Consulting Group.

Cow Horse Makes Me A Better Lawyer

Moving an unwilling 800-pound cow while riding a horse at high speed is exhilarating, a little unhinged and, at least for me, a surprisingly effective training ground for litigation — both demand focus, preparation over rigid planning and the willingness to act despite fear, says Ashley Zitrin at Glenn Agre.

Checking For AI Errors Is Now A Two-Way Street

A handful of recent federal and state cases demonstrate the importance of checking for errors generated by artificial intelligence not only in your own court submissions, but also your opponent's, as well as when catching opposing counsel's AI mistakes could result in an award for attorney fees, says Tamara Barago at Hollingsworth.

5 Things Associates Must Ask About Their Firm's Merger Plan

The associates who navigate law firm mergers best ask the right questions early, such as inquiring about partners' plans, to assess how the merger could affect their workflow and career path, says Jackie Bokser-LeFebvre at Major Lindsey.