The Second Circuit has affirmed the Tax Court’s rulings against Soroban Capital Partners LP, holding that the firm’s three principals were not “limited partners” for purposes of the self-employment tax exclusion found in I.R.C. § 1402(a)(13), despite formally holding limited
On September 10, in Monahan v. City of New Orleans, No. 2025-CA-0757, the Louisiana Fourth Circuit Court of Appeal affirmed a district court judgment compelling the City of New Orleans to pay an $8,284,084.51 tax refund judgment through
The Financial Accounting Standards Board issued Accounting Standards Update 2026-03, Fair Value Measurement (Topic 820): Investment Companies with Equity Securities Subject to Contractual Sale Restrictions, on September 9, 2026. While the update is aimed at investment company accounting, it
The Treasury Department and IRS issued final regulations implementing the new deduction for qualified passenger vehicle loan interest (QPVLI), a temporary benefit created by the One, Big, Beautiful Bill Act (OBBBA) that allows individuals to deduct up to $10,000 of
On August 31, 2026, a district judge of the United States District Court for the Northern District of New York held that the State’s Climate Change Superfund Act (or the Act) is preempted and thus cannot be enforced. West Virginia
The Louisiana Department of Conservation and Energy (C&E) recently released proposed rule changes regarding groundwater management, consolidating existing water well rules into Title 43, Part VI of the La. Administrative Code and proposing new rules that may affect current practices
The Treasury Department formally declined a request from a group of Senate Democrats to change the tax rules governing how employees value personal use of employer-provided aircraft, preserving the Standard Industry Fare Level (SIFL) valuation method.
In a letter dated
The United States Tax Court recently issued a reminder that tax sophistication can support a finding of civil fraud. In Janangelo v. Commissioner, T.C. Summary Opinion 2026-8, the court found that a longtime IRS revenue agent, who is also
Liskow maritime attorney Ray Waid was recently interviewed by Fortune regarding the Trump administration’s efforts to explore the use of centuries-old prize law in connection with the potential seizure and sale of Iranian oil tankers and their cargo.
The article, “DOJ is
