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Farrell Fritz, P.C.

Failure to file IRS Form 3520 Reasonable Cause Penalty Relief

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A recent federal court decision, Huang v. United States, offers important guidance for U.S. persons who have received large gifts from foreign persons, and failed to timely file Form 3520, Annual Return To Report Transactions...more

Moore & Van Allen PLLC

Client Alert: South Carolina Freezes Certain Nonprofit Low-Income Housing Property Tax Exemption Applications

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Key Points - This is the second late-session bill affecting the nonprofit housing property tax exemption. As covered in our May 12, 2026, client alert, H. 5006 was amended on the Senate floor to rewrite the exemption under...more

Jackson Walker

"DExit" Explained - Why Companies Are Leaving Delaware for Texas

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This article is part one of six articles in the “DExit to Texas: What You Need to Know About Reincorporating in the Lone Star State” series, which covers why Delaware companies are considering redomiciling in Texas and the...more

White & Case LLP

Internal Revenue Code Section 999: The obscure international boycott tax rules every taxpayer should know

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The intersection of tax and trade law has been in the news in recent months as businesses navigate changing tariff rules. We have written extensively about the cross-roads of tax law and tariffs. All this talk about tariffs...more

Eversheds Sutherland (US) LLP

Tax Bytes: Week of May 11, 2026

Welcome to the latest edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. We pull together the items we deem most important to provide...more

Vorys, Sater, Seymour and Pease LLP

10th District Declares Key Provisions of HB 126 Unconstitutional

On April 28, 2026, the Tenth District Court of Appeals found unconstitutional the restrictions imposed on non-property owners seeking to increase property tax valuations. In so holding, it reversed the dismissals by the...more

Husch Blackwell LLP

DOJ Merges Criminal Fraud Units Under New National Fraud Enforcement Division

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On April 7, 2026, the Department of Justice (DOJ) announced it is “supercharging” fraud prosecutions through the creation of the National Fraud Enforcement Division (the “Fraud Division”). What Has Changed- The new...more

Blake, Cassels & Graydon LLP

Élargissement proposé des pouvoirs de vérification de l’ARC : développements récents

Le 4 mai 2026, le ministère des Finances du Canada a publié une version mise à jour de projets de propositions législatives qui auraient pour effet d’élargir les pouvoirs de vérification de l’Agence du revenu du Canada (l’«...more

FBT Gibbons LLP

Tax Strategies for QSBS: Stacking and Staggering Section 1202 Exclusions

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Much has been written about IRC Section 1202. Section 1202 affords non-C corporation taxpayers who sell a corporation’s qualified small business stock (“QSBS” or “1202 Stock”) issued after July 4, 2025 (and who satisfied the...more

Frantz Ward LLP

Three Weeks Out: Early Developments After Rescheduling

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On Thursday, April 23, 2026, the U.S. Department of Justice (DOJ) released its final order rescheduling certain marijuana products from Schedule I to Schedule III of the Controlled Substances Act (CSA). After publication in...more

Kohrman Jackson & Krantz LLP

Trump Accounts and the Stock Donation Debate: What the Law Actually Says — and What Is Still Unsettled

The Trump administration is weighing whether to allow contributions of appreciated stock directly into §530A “Trump Accounts” — children’s savings accounts created by the One Big Beautiful Bill Act of 2025 (OBBBA), Pub. L....more

Holland & Knight LLP

Consejo de Estado de Colombia reafirma la exigencia de la prueba en servicios intercompañía

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Mediante la sentencia del 12 de febrero de 2026 – Rad. 25000-23-37-000-2020-00319-00 (28267) – el Consejo de Estado de Colombia confirmó el rechazo de deducciones por pagos al exterior asociados a servicios intercompañía, así...more

IR Global

Valuation at the Top: Strategic Insights for Ultra-High-Net-Worth Individuals and Estates

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Ultra-high-net-worth individuals and families face a valuation environment that is far more complex than simply determining the worth of an asset. In the context of trust, gift, and estate tax planning, valuation becomes a...more

McNees Wallace & Nurick LLC

Pennsylvania Supreme Court strikes down municipal stormwater charge: What property owners and municipalities need to know

On April 30, 2026, the Pennsylvania Supreme Court issued a significant decision in Borough of West Chester v. Pennsylvania State System of Higher Education, holding that the Borough’s stormwater charge is a tax — not a valid...more

Warner Norcross + Judd

New IRS FAQs Impact Employer Educational Assistance Programs

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The IRS recently revised its FAQs (IRS FS-2026-10) addressing educational assistance programs under Internal Revenue Code Section 127. This updated guidance replaces the FAQs issued in June 2024 (IRS FS-2024-22) and reflects...more

FBT Gibbons LLP

Commercial Real Estate Distress: An Introduction to Debt-for-Equity Exchanges

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Commercial real estate is in a sorting period. The Mortgage Bankers Association estimates roughly $5 trillion in commercial mortgages will mature between 2025 and 2029, with approximately $875 billion maturing in 2026 alone....more

McDermott Will & Schulte

IRS roundup: May 1 – May 11, 2026

The IRS Office of Chief Counsel issued Chief Counsel Advice 202618011, addressing whether a taxpayer can apply a revised cost allocation method under Treasury Regulation § 1.482-9 as a set-off in a transfer pricing context....more

Hogan Lovells

HL UK Pensions Law Digest 14 May 2026

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A bite-sized summary of recent UK pension news Welcome to our latest update, in which we cover: Data protection: new data protection complaints requirements Data controllers, including pension scheme trustees, will need...more

Kohrman Jackson & Krantz LLP

Cleveland TIF District Proposal Targets East Side Revitalization and Investment

The Bibb Administration presented a plan for two East-side TIF Districts to the City Planning Commission on May 1, 2026. The Hough-St. Clair Superior TIF will encompass almost 1,400 acres and the administration projects it to...more

Eversheds Sutherland (US) LLP

Significant Revenue Procedure offers flexibility in corporate letter rulings

The IRS has taken oscillating positions on issuing corporate letter rulings on isolated issues in the context of a larger, integrated transaction. Since 2024, taxpayers have been required to request a letter ruling regarding...more

Haynes Boone

Switching to a New Form of Preapproved Plan Document? What You Need to Know

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Have you switched providers and are now converting your retirement plan to a new form of preapproved plan document? Are you with the same provider but updating to a new preapproved plan document at the end of the six-year...more

Foley Hoag LLP - Cannabis and the Law

Stalemate over Virginia Adult-Use Cannabis Bill – Governor Faces May 22, 2026 Deadline

The Virginia legislature and Governor Abigail Spanberger remain at a stalemate over a bill that would make the Commonwealth the latest state to approve an adult-use cannabis market....more

Farrell Fritz, P.C.

Huntington’s Proposed PILOT “Offset” Policy Risks Undermining the Town’s Own Development Goals

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The Town of Huntington is reportedly considering a policy that would require developers receiving Payment in Lieu of Taxes (“PILOT”) benefits to make additional contributions intended to offset perceived impacts on taxpayers,...more

Moore & Van Allen PLLC

Client Alert: South Carolina Property Tax Exemption for Nonprofit Low-Income Housing: Critical Legislative Development

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Key Points: Pending South Carolina legislation would unexpectedly amend the nonprofit housing property tax exemption statute....more

Polsinelli

IRS Opens the Door on Syndicated Easement Settlements: Limited Time Offers Coming

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Key Takeaways - The IRS announced it will soon release settlement terms for certain syndicated conservation and historic preservation easement disputes under Section 170(h)....more

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