New IRS Commissioner Sworn In

The United States cryptocurrency regulatory landscape has undergone its most dramatic transformation in history. The signing of the GENIUS Act into law on July 18, 2025 — the first comprehensive federal crypto statute ever enacted — marks a before-and-after moment for American digital asset law.

On Sunday, May 3, 2026, the Iowa Legislature approved one of the most significant overhauls of Iowa’s property tax and local government finance system in the state’s history.

On Sept. 10, 2026, the California Department of Tax and Fee Administration (CDTFA) held its second Interested Parties Meeting to discuss proposed emergency regulations implementing state Senate Bill 122...

California's Proposition 40 would impose a one-time excise tax of up to 5 percent on billionaires' worldwide net worth, measured as of December 31, 2026, but based on residency as of January 1, 2026. The measure faces significant legal challenges and could be nullified by competing ballot initiatives that have also qualified for the November 2026 ballot.

The Department of the Treasury and IRS have proposed regulations that would eliminate tax-exempt status for private schools maintaining race-based policies in admissions, scholarships, or programs—regardless of remedial or diversity objectives. The rule would affect approximately 18,000 tax-exempt schools, 750,000 students, and outstanding tax-exempt bonds, fundamentally reshaping how educational institutions approach diversity initiatives and donor-restricted scholarships.

The Treasury Department and IRS have released proposed regulations that would revoke Section 501(c)(3) tax-exempt status for private schools engaging in race-based admissions or diversity programs, fundamentally reshaping how educational institutions approach affirmative action and DEI initiatives.

Recent federal legislation has permanently extended the historically high unified exemption amount for federal estate and gift tax purposes. The current exemption of $13.99 million per individual remains in place through December 31, 2025...

On July 4, 2025, President Trump signed into law H.R. 1, commonly known as the One Big Beautiful Bill Act (the "OBBBA").

The August 2026 Section 7520 rate remains at 5.20% for estate planning techniques. Treasury Decision 10051 targets CRAT abuse schemes as listed transactions requiring disclosure. New guidance addresses Trump Account contributions, charitable LLC arrangements face IRS scrutiny, and Florida introduces streamlined trustee discharge procedures.

Today, March 17, 2020, Treasury Secretary Steven Mnuchin announced that individuals may defer up to $1 million in 2019 tax liability without interest or penalties until July 14...

Landlords of rent stabilized buildings in New York City have filed a lawsuit challenging the rent freeze passed by the Rent Guidelines Board, questioning the Board's independence and data integrity. With operating costs rising 31% over five years while the Board voted 7-1 for a freeze affecting 1 million apartments, the case raises critical questions about the balance between tenant protection and landlord viability.

The U.S. seized one of North Korea's largest bulk carrier vessels for allegedly shipping illicit coal and heavy machinery in violation of U.S. and UN sanctions.

The SEC named Adam S. Aderton as the new co-chief of the Asset Management Unit's Enforcement Division. Mr. Aderton, who replaces Anthony Kelly, will share the position with Dabney O'Riordan.

On February 25, 2026, the Office of the Comptroller of the Currency (the "OCC") issued a Notice of Proposed Rulemaking (the "NPRM") to implement the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the "GENIUS Act").

FINRA proposed a rule amendment to restrict access to representative- and principal-level qualification scores.

Kroll Bond Rating Agency (KBRA) examines its portfolio of rated subscriptions facilities in a report published this week. The report reviews KBRA's $11.3 billion of rated debt portfolio spanning over 40 funds...

The Centers for Medicare & Medicaid Services has proposed the Regulatory Alignment for Predictable and Immediate Device (RAPID) Coverage Pathway, designed to accelerate Medicare coverage for breakthrough-designated medical devices by aligning CMS coverage review with FDA premarket review.

The New York State legislature passed the "Stop Hacks and Improve Electronic Data Security Act" (the "SHIELD Act") to enhance cybersecurity

Today's General Counsel has published an article citing Cadwalader partners Mercedes Tunstall and Andrew Karp where they discuss how the Third Circuit handed down a decision ...

According to the Coller Capital Global Private Equity Barometer, a global survey on private market investors published last week, a third of North American LPs and 52% of APAC LPs believe public...