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Chevron Deference Internal Revenue Service Tax Court

Jones Day

U.S. Tax Court Invokes Loper Bright for the First Time

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The U.S. Tax Court allows a dividend-received deduction ("DRD") for a Section 78 gross-up while also disallowing foreign tax credits in its first application of Loper Bright....more

Fenwick & West LLP

Rawat Creates a Ripple in Statutory Interpretation Principles

Fenwick & West LLP on

Recently, in Rawat v. Commissioner, the D.C. Circuit reversed the Tax Court decision and held that a foreign partner would not be subject to U.S. tax on selling an interest in a partnership with “hot assets” subject to §...more

Kohn, Kohn & Colapinto LLP

Supreme Court Vacates and Remands IRS Tax Whistleblower Case Following Reversal of Chevron

The end of the Chevron deference is already impacting whistleblower award cases. The Supreme Court of the United States (SCOTUS) recently reversed and remanded an appeals court decision in an IRS whistleblower case where a...more

McDermott Will & Emery

Supreme Court Overrules Chevron, Opening Door for New Tax Reg Challenges

McDermott Will & Emery on

On June 28, 2024, the Supreme Court of the United States reshaped the federal tax landscape when it overturned the long-standing Chevron doctrine in Loper Bright Enterprises v. Raimondo, No. 22-451. The Chevron doctrine, a...more

Holland & Knight LLP

Tax Court: Conservation Easement Proceeds Regulation Is Procedurally Invalid Under APA

Holland & Knight LLP on

In holding that that Treas. Reg. § 1.170A-14(g)(6)(ii) (Proceeds Regulation) is procedurally invalid under the Administrative Procedure Act (APA), the U.S. Tax Court abandoned its precedent in Oakbrook Land Holdings, LLC v....more

Fenwick & West LLP

Five Tax Cases that May Impact Your Business 2024

Fenwick & West LLP on

The book has closed on 2023, but several recent tax-related rulings are sure to have ripple effects into 2024 and beyond—particularly with respect to transfer pricing and foreign tax credits. Here are five cases that will...more

Miller Canfield

Disregarding Administrative Tax Guidance Aided the IRS in Two Cases and the Taxpayer in a Third Case

Miller Canfield on

​​​​​​​Three courts - the Supreme Court, the Sixth Circuit, and the Tax Court - recently rejected administrative guidance in tax cases because the guidance was either wrong as applied, unnecessary, or inapplicable. The...more

Alston & Bird

Altera Redux – The Ninth Circuit Once Again Holds in Favor of the IRS

Alston & Bird on

The Ninth Circuit has repeated itself in reversing a unanimous Tax Court holding on the validity of the Treasury’s regulations under Section 482. Our International Tax Group examines the reconstituted panel’s significant...more

Carlton Fields

Cost-Sharing Regulations Revived By Ninth Circuit

Carlton Fields on

The Ninth Circuit Court of Appeals reversed the Tax Court in Altera Corp. in the latest chapter of the dispute over the validity of cost-sharing regulations. The decision, issued on July 24, revives certain regulatory...more

Pillsbury Winthrop Shaw Pittman LLP

Tax Court: Stock based Compensation Costs Need not be Included in International Cost-Sharing Arrangements

The Stunning Altera Case - Employee stock options are an important part of compensation—both as income to the executives and as a deduction for the employer. But when stock options are used by multinational companies,...more

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