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Federal
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May 18, 2026
Pot Co. Fraud Suit Over $13M Tax Debt Ends In Settlement
Investors have agreed to end a lawsuit against the former CEO of cannabis firm Devi Holdings Inc., claiming the executive and early investors hid over $13 million in unpaid taxes to induce $25.9 million in stock purchases that later became worthless, according to a Florida federal judge's order.
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May 18, 2026
Madigan Ruling May Offer High Court New Bribery Test
The Seventh Circuit found enough "overwhelming" evidence last month to sustain the conviction of former Illinois House Speaker Michael Madigan, but a U.S. Supreme Court that's spent years narrowing the reach of public corruption laws may be interested in whether prosecutors proved a sufficiently specific quid pro quo.
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May 18, 2026
Real Estate Broker Gets 55 Months In $2.25M Investor Fraud
A former real estate professional was sentenced to 55 months in prison by a Washington federal judge on Friday, after being convicted for conning $2 million from investors that would purportedly go toward purchasing and renovating properties, but was actually used to buy, among other things, a customized Tesla and a diamond ring.
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May 18, 2026
Feds Say TerrAscend Owes Back $8M Tax Refund
Multistate cannabis operator TerrAscend erroneously received more than $8 million in tax refunds that should never have been issued because of a federal law that bars traffickers in controlled substances from taking business deductions, the U.S. government said in a new lawsuit.
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May 18, 2026
Timing Wrinkle Could Muddle Foreign Currency Tax Rules
The U.S. Treasury Department has signaled plans to simplify the process for determining the taxable corporate income of affiliates that conduct business in foreign currencies, but the unclear timeline of upcoming guidance could complicate compliance initially.
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May 18, 2026
IRS Not Getting Info Earlier Enough To Block Refund Fraud
The Internal Revenue Service and U.S. Department of the Treasury should develop legislation moving up the filing deadlines for information returns tied to certain types of tax refunds in order to protect against fraudulent claims, the Treasury Inspector General for Tax Administration said.
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May 18, 2026
Interest Wrongly Refunded Is Subject To Relief, 4th Circ. Says
A woman is eligible for innocent spouse relief on interest owed to the IRS after an erroneous refund, the Fourth Circuit held Monday, reversing a 2024 U.S. Tax Court ruling.
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May 18, 2026
IRS Overtime Up $27M After Cuts, TIGTA Says
The Internal Revenue Service paid $27 million more in overtime in 2025 compared with the year prior after suffering massive staff cuts, the Treasury Inspector General for Tax Administration said.
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May 18, 2026
K&L Gates Tax Trio Joins Holland & Knight In Dallas
Holland & Knight LLP announced Monday that three Dallas-based state and local tax attorneys from K&L Gates LLP have joined the firm's tax, executive compensation and benefits practice.
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May 18, 2026
Return's Fraud Voids Assessment Deadline, IRS Tells Justices
The IRS can slap a tax assessment against a taxpayer without time constraints when a return is fraudulent, even if a third-party preparer was the scammer, the agency told the U.S. Supreme Court in opposing a woman's petition for relief from what she alleges was her accountant's deception.
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May 18, 2026
Trump-IRS Deal To Create $1.8B 'Anti-Weaponization' Fund
The U.S. Department of Justice announced Monday that it will create a $1.8 billion "anti-weaponization fund" with the proceeds of a settlement between President Donald Trump and the IRS over the leaks of his tax information.
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May 15, 2026
Atty Tied To Trump Pardon Headed For August Extortion Trial
A New York federal judge on Friday set an August trial date for a South Carolina attorney and lobbyist on extortion charges tied to his work as a purported go-between for people with serious legal troubles seeking clemency from President Donald Trump.
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May 15, 2026
Co-Founder Of Robocall Company Liable For $4.3M Tax Debt
A Michigan federal judge on Friday granted the U.S. government's bid to hold the co-founder of a defunct telemarketing fundraiser personally liable for more than $4.3 million in unpaid payroll taxes, finding that he controlled the company's finances and willfully failed to pay the Internal Revenue Service.
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May 15, 2026
DC Circ. Hears Russia's Bid To Block $5B Yukos Award
The Russian Federation's constitution and statutes make clear that Vladimir Putin's administration and Yukos Oil Co.'s financing arm didn't have a valid agreement to arbitrate a dispute that resulted in a nearly $5 billion arbitral award against the country, Russia told the D.C. Circuit Friday.
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May 15, 2026
IRS Asks Fed. Circ. To Overturn COVID-Era Deadline Ruling
The IRS announced Friday that it will ask the Federal Circuit to overturn a claims court decision allowing a California business owner to recover penalties and interest he had tried to get refunded during the COVID-19 pandemic, challenging an interpretation that offered potential relief for others.
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May 15, 2026
Trump May Lack Ability To Sue His Own IRS, Attys Say
A Florida federal court should carefully examine the relationship between President Donald Trump and the Internal Revenue Service when considering whether it has jurisdiction over his $10 billion suit against the agency over the leak of his tax information, a group of attorneys said.
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May 15, 2026
Senators Seek Info From SBA On Tariff Loan Gap
The top Democratic lawmakers on the U.S. Senate Finance and Senate Small Business committees asked the Small Business Administration for information regarding loans for companies seeking assistance following increased tariff costs, according to a letter made public Friday.
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May 15, 2026
Trade Probes Likely To Be Strong Bulwark For Trump's Tariffs
President Donald Trump will likely deploy new tariffs this summer across numerous countries under a law that provides the federal government with its strongest legal footing yet in federal court for a global tariff regime.
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May 15, 2026
Miami Developer Admits To $89M Fraud Scheme
A Miami real estate developer pled guilty Friday to leading a scheme raising $89 million from investors for real estate development projects throughout South Florida that were never built.
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May 15, 2026
Taxation With Representation: Cassels, Ropes & Gray
In this week's Taxation With Representation, Equinox Gold Corp. and Orla Mining Ltd. announce a merger to create a major gold producer, OpenAI plans to form a company to boost adoption of its software across enterprises and private equity firm Apollo acquires trade show operators Emerald Holding and Questex.
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May 15, 2026
Weekly Internal Revenue Bulletin
The Internal Revenue Service's weekly bulletin, released Friday, included a proposed reduction for the fee it charges people who take the exam for becoming an enrolled agent.
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May 15, 2026
IRS Sets Preapproved Plan Opinion Letter Rules For 2026
The Internal Revenue Service issued a set of changes to requirements for preapproved plan providers applying for opinion letters for the fourth remedial amendment cycle.
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May 15, 2026
OECD To List Countries Ready To Receive Global Returns
The Organization for Economic Cooperation and Development plans to publish on Monday a list of countries implementing the global minimum tax that plan to have online portals in place to receive the required information returns by May 31, the organization's top tax official said Friday.
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May 14, 2026
Ex-Newsom Aide Cops To Campaign Fund Theft, False Taxes
A former chief of staff to California Gov. Gavin Newsom pled guilty in federal court in Sacramento for her part in a scheme to divert some $225,000 from a dormant political campaign to a former Biden administration official's chief of staff, the U.S. Department of Justice announced Thursday.
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May 14, 2026
Fed. Circ. Affirms $80M Penalty For Trust Caught In Tax Fraud
A group of family trusts failed Thursday to convince the Federal Circuit to reverse a lower court ruling that held them liable for an $80 million tax bill after being conned by a fraudster who then engaged in abusive tax shelter transactions behind their backs.
Expert Analysis
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In 2nd Place, Va. 'Rocket Docket' Remains Old Reliable
The U.S. District Court for the Eastern District of Virginia was again one of the fastest civil trial courts in the nation last year, and an interview with the court’s newest judge provides insights into why it continues to soar, says Robert Tata at Hunton.
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How Attorneys Can Become Change Agents For Racial Equity
As the administration targets diversity, equity and inclusion efforts and law firms consider pulling back from their programs, lawyers who care about racial equity and justice can employ four strategies to create microspaces of justice, which can then be parlayed into drivers of transformational change, says Susan Sturm at Columbia Law School.
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Adapting To Private Practice: From US Attorney To BigLaw
When I transitioned to private practice after government service — most recently as the U.S. attorney for the Eastern District of Virginia — I learned there are more similarities between the two jobs than many realize, with both disciplines requiring resourcefulness, zealous advocacy and foresight, says Zach Terwilliger at V&E.
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Opportunity Zone Revamp Could Improve The Program
If adopted, the budget bill's new iteration of the opportunity zone program could renew, refine and enhance the effectiveness and accountability of the original program by including structural reforms, expanded eligibility rules and incentives for rural investment, say attorneys at Pillsbury.
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The Ins And Outs Of Consensual Judicial References
As parties consider the possibility of judicial reference to resolve complex disputes, it is critical to understand how the process works, why it's gaining traction, and why carefully crafted agreements make all the difference, say attorneys at Pillsbury.
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The BigLaw Settlements Are About Risk, Not Profit
The nine Am Law 100 firms that settled with the Trump administration likely did so because of the personal risk faced by equity partners in today's billion‑dollar national practices, enabled by an ethics rule primed for modernization, says Adam Forest at Scale.
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House Bill Tax Tweaks Would Hinder Renewable Projects
Provisions in the budget reconciliation bill recently passed by the U.S. House of Representatives would rapidly phase out clean energy tax credits, constrain renewable energy financing arrangements and impose sweeping restrictions on projects with foreign ties, which may create compliance and supply chain issues for many developers, say attorneys at Paul Hastings.
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Power To The Paralegals: An Untapped Source For Biz Roles
Law firms looking to recruit legal business talent should consider turning to paralegals, who practice several key skills every day that prepare them to thrive in marketing and client development roles, says Vanessa Torres at Lowenstein Sandler.
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How Trucking Cos. Can Keep Rolling Under Tariff Burdens
Recent Trump administration tariffs present major challenges for the transportation and logistics sector — and, in particular, trucking — but providers who focus on operational efficiency, cost control, customer relationships, creative contract structures and unique offerings will stand out from the competition, say attorneys at Benesch.
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Tariff Strategies For The US Renewable Energy Sector
The Trump administration's tariff actions over the last few months are challenging for the renewable energy industry — but there are strategies for contending with the uncertainty, including diversifying supply chains, seeking certification about equipment origins, and adding tariff-related language to supply contracts and offtake agreements, say attorneys at Sheppard Mullin.
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Ch. 7 Marshaling Ruling Rests On Shaky Legal Grounds
In its recent holding in a Chapter 7 bankruptcy case that marshaling may not be applied against the IRS, a Texas federal court misapplied a bankruptcy code section and case law, leaving a draconian decision that could limit the scope of a powerful equitable estate tool, says Brian Shaw at Cozen O'Connor.
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3 Tax Issues Manufacturers Should Watch In 2025 Budget Bill
As Congress works toward a budget reconciliation bill, manufacturing companies should keep a keen eye on proposals to change bonus depreciation, the qualified business income deduction and energy tax credits, which could have a significant impact on capital-intensive industries, say attorneys at Frost Brown Todd.
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$38M Law Firm Settlement Highlights 'Unworthy Client' Perils
A recent settlement of claims against law firm Eckert Seamans for allegedly abetting a Ponzi scheme underscores the continuing threat of clients who seek to exploit their lawyers in perpetrating fraud, and the critical importance of preemptive measures to avoid these clients, say attorneys at Lockton Companies.