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March 16, 2023 | New York Law Journal

US Supreme Court Gives Taxpayers an FBAR Win

On Feb. 28, the U.S. Supreme Court issued a 5-4 decision in Bittner v. United States that cut across ideological lines and, in a victory for taxpayers, limited the IRS to a single $10,000 penalty regardless of how many accounts should have been reported in a given year.
10 minute read
March 15, 2023 | New York Law Journal

Banks in the Coal Mine: Signature, Silvergate and Other Signs of Recession-Era Fraud—And What Investors Can Do About It 

A recession seems all but certain, as the Fed is still expected to push interest rates higher by a 0.25 percentage point later this March, despite the recent run on the banks.
7 minute read
March 06, 2023 | New York Law Journal

New Enforcement Tools in Regulating Cryptocurrency

This article takes a look at the National Cryptocurrency Enforcement Team's first public action working with the Department of Treasury in targeting the Hong-Kong-based exchange, Bitzlato Ltd., which allegedly served as a haven for money laundering and cybercrime. The action could have broad ramifications for the cryptocurrency market and financial institutions that deal in cryptocurrency.
4 minute read
March 06, 2023 | Litigation Daily

Litigation Leaders: Morrison & Foerster's Richard Hung on the Value of Litigators with Engineering Chops

"Our understanding of technology also helps us break down complicated issues into digestible chunks, which is critical to persuading judges and juries," says Hung, noting the firm has more than 130 lawyers and patent agents with technical degrees and experience.
9 minute read
February 27, 2023 | National Law Journal

Cert Grant for Case Over Consumer Financial Protection Bureau Could Spell Agency's End

"A majority of the court is going to be receptive to separation of powers arguments," said Manatt, Phelps & Phillips partner Scott Pearson. 
5 minute read
February 23, 2023 | National Law Journal

Freshfields, Allen & Overy Among Firms Owed $4M Following Collapse of Russian Bank VTB

Several prominent law firms are owed large sums of money following the administration of the U.K. arm of the Russian state-owned bank.
3 minute read
February 22, 2023 | Law.com

The Talent War Is Over (For Some, at Least): The Morning Minute

The news and analysis you need to start your day.
4 minute read
February 21, 2023 | National Law Journal

Potential Major Shifts in Regulation of US Outbound Investments Keep Law Firms and Their Clients Guessing

A forthcoming executive order is expected to define new guidelines for investments in countries viewed as strategic competitors. The devil of these new regulatory measures will be in the details.
4 minute read
February 14, 2023 | National Law Journal

Tax Attorney David Foster's Move to Kirkland Marks Reaction to Better-Resourced IRS

"Even those of us who engage in controversies with the agency for a living prefer a well-resourced IRS to provide adequate services to taxpayers," said new Kirkland & Ellis hire David Foster.
3 minute read
February 12, 2023 | New Jersey Law Journal

New Jersey Tax Inequity Remains Unfixed

We agree with Sen. Shirley Turner: "The fact that our state treats certain retirement plans differently for tax purposes is not only confusing, it is unfair for educators and not-for-profit employees who are heavily impacted by this disparity."
4 minute read

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