On December 2, 2010, Senator Max Baucus (D-Mont.) introduced the Middle Class Tax Cut Act of 2010 as an amendment to H.R. 4853, the Middle Class Tax Relief Act of 2010, which passed the House of Representatives on December 2, 2010.

The Internal Revenue Service will automatically revoke an organization's tax-exempt status if the organization fails for three consecutive years to file an IRS Form 990.

A recent Tax Court case, "Renkemeyer, Campbell & Weaver, LLP v. Commissioner", disallowed a special allocation of a law firm limited liability partnership’s net business income and held that income generated from the firm’s legal practice that was allocated to the attorney partners was subject to self-employment tax.

Following a special legislative session to address concerns about its impact on innovation, the Colorado legislature on Tuesday, August 26, passed an amendment to the Colorado AI Act (SB 205) that will delay the effective date of the law until June 2026.

The Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) (S. 1582) establishes the first U.S.

Crypto Week" in the House of Representatives has come and gone—taking place the week of July 14—during which the House voted on three different...

Wyoming has officially launched the Frontier Stable Token (FRNT), the first stablecoin in the U.S. issued by a public entity.

Taking a page from the playbook of the Federal Trade Commission, the new Consumer Federal Protection Bureau (CFPB) has filed its first civil enforcement action in federal court.

The creator economy is a multibillion-dollar industry attracting serious investment, strategic brand partnerships and increasingly sophisticated deal structures.

New York Governor Andrew Cuomo recently signed Assembly Bill No. A10785 which amends New York Labor Law Section 193 with respect to employee wage deductions.

On April 12, 2011, California Governor Jerry Brown signed into law a bill entitled S.B. 2X, which modifies California's Renewable Portfolio Standard (RPS) program to require that public and private utilities in California receive at least 33 percent of their electricity from renewable sources by the year 2020.

On Thursday, August 28, 2025, the President of the United States issued an Executive Order which effectively disbanded the union representing...

California's Senate Bill 940 (SB 940), which was signed into law at the end of 2024 and introduces new requirements for arbitration agreements in consumer contracts, amends the California Code of Civil...

Groupon, Inc., the Chicago-based online coupon company, may now be facing at least two investigations by state attorneys general, as well as more than a dozen class action lawsuit related to the issue of whether the company's discount coupons - called groupons - are really gift certificates and therefore violate state and federal consumer protection laws by carrying an expiration date.

Most major sports teams invite fans to receive text message alerts about breaking news, player trades, scores, etc.

In what is likely to be the first of many rulings impacting the effect of social media policies, the NLRB has invalidated a policy in Costco Wholesale Corp.'s national employee handbook.

The European Commission, in its communication titled "Unleashing the Potential of Cloud Computing in Europe," recently announced a new strategy for cloud computing in the EU.

In our August 2010 edition (Vol. 5, No. 2), we reported on the Tax Court case "Recovery Group, Inc." The taxpayer had redeemed the stock of a 23% shareholder and separately paid him for a one-year covenant not to compete.

A constant source of friction between the IRS and taxpayers is over the classification of workers. Are the workers employees or independent contractors?

We have previously reported on several cases where courts have addressed the amount of time the Internal Revenue Service ("IRS") has to assess a tax deficiency if the taxpayer overstates the income tax basis of an asset that he has sold.