During a March 6 settlement conference, U.S. Customs and Border Protection (“CBP”) advised the U.S. Court of International Trade (“CIT”) that CBP is developing a centralized system to process refunds of tariffs imposed under...more
3/9/2026
/ Appeals ,
Court of International Trade ,
Customs and Border Protection ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Imports ,
International Emergency Economic Powers Act (IEEPA) ,
International Trade ,
Refunds ,
SCOTUS ,
Statutory Interpretation ,
Tariffs ,
Trade Relations ,
US Trade Policies
On March 4, 2026, Judge Richard K. Eaton of the U.S. Court of International Trade (“CIT”) issued a significant ruling holding that all importers of record who paid tariffs imposed under the International Emergency Economic...more
3/6/2026
/ Court of International Trade ,
Customs and Border Protection ,
Executive Orders ,
International Emergency Economic Powers Act (IEEPA) ,
International Trade ,
Refunds ,
SCOTUS ,
Tariffs ,
Trade Relations ,
Trump Administration ,
US Trade Policies
On March 2, 2026, the Internal Revenue Service released Schedule 1‑A (Form 1040) and accompanying updates to the Form 1040 Instructions implementing several new individual tax deductions enacted under the reconciliation...more
3/4/2026
/ Borrowers ,
Employer Responsibilities ,
Fair Labor Standards Act (FLSA) ,
IRS ,
Lenders ,
Loans ,
New Guidance ,
One Big Beautiful Bill Act ,
Reporting Requirements ,
Tax Deductions ,
Tax Returns ,
Tipped Employees ,
Tips
On February 20, 2026, the U.S. Department of the Treasury and the Internal Revenue Service released Notice 2026-16, providing interim guidance on a new 100% special depreciation allowance for certain nonresidential real...more
3/2/2026
/ Bonus Depreciation ,
Business Taxes ,
Construction Project ,
Depreciation ,
Internal Revenue Code (IRC) ,
IRS ,
Manufacturers ,
Manufacturing Facilities ,
New Guidance ,
New Legislation ,
One Big Beautiful Bill Act ,
Proposed Regulation ,
Regulatory Requirements ,
Tax Deductions ,
Tax Incentives ,
Tax Legislation ,
Tax Planning ,
U.S. Treasury
On February 20, 2026, the Supreme Court of the United States issued a landmark decision holding the Trump Administration’s tariffs imposed under the International Emergency Economic Powers Act ("IEEPA") were unlawful and...more
2/24/2026
/ Constitutional Challenges ,
Court of International Trade ,
Customs and Border Protection ,
International Emergency Economic Powers Act (IEEPA) ,
International Trade ,
Refunds ,
SCOTUS ,
Statutory Interpretation ,
Tariffs ,
Trump Administration ,
US Trade Policies
House and Senate appropriations leaders have reached a bipartisan, bicameral agreement to keep the federal government funded through fiscal year 2026 while advancing several long-anticipated health care policy changes....more
The IRS has announced that new tax-reporting rules are forthcoming for overtime compensation under recent federal tax legislation commonly known as the “One Big Beautiful Bill” (the “Bill”)....more
1/20/2026
/ Employer Responsibilities ,
Fair Labor Standards Act (FLSA) ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
One Big Beautiful Bill Act ,
Reporting Requirements ,
Tax Deductions ,
Tax Legislation ,
Tax Reform ,
Wage and Hour