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22 hours ago | 
news.bloomberglaw.com | Melanie Cohen |Daniel Xu
Tokenized assets, including stablecoins and digital representations of real-world assets, are increasingly entering corporate balance sheets, posing new risks for audit and compliance professionals. Blockchain’s promise of efficiency and transparency is complicated by its inherent pseudo-anonymity and decentralized infrastructure.
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1 day ago | 
news.bloombergtax.com | Melanie Cohen |Daniel Xu
Private equity firms are quietly buying up and consolidating dental, accounting, medical, and veterinary practices, turning smaller independent firms into corporate chains. These firms offer professionals handsome payouts in exchange for ownership of their practice. Law firms are the final frontier for these consolidators. Recent developments in Arizona may finally give private equity the door into the legal industry that it’s been waiting for.
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1 day ago | 
news.bloomberglaw.com | Daniel Xu |Melanie Cohen
Multinational corporations operating in Colombia are currently grappling with a serious compliance hurdle under the country’s recently implemented significant economic presence, or SEP, tax regime. Although the policy aims to ensure a new nexus of taxation from digital and remote service providers, its requirement that multinationals perform foreign exchange conversion and tax payment on the same day has created near-impossible circumstances for timely compliance.
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2 days ago | 
news.bloomberglaw.com | Melanie Cohen |Daniel Xu
President Donald Trump’s plan to shift IRS criminal investigators away from tax crimes and into immigration enforcement isn’t just a bureaucratic reshuffle—it’s a direct threat to the deterrence model that underpins the voluntary tax system. The belief that the IRS is watching and that underpayment has dire consequences is the cornerstone of voluntary compliance.
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2 days ago | 
news.bloomberglaw.com | Daniel Xu |Melanie Cohen
Since the research-and-development tax credit’s enactment over 40 years ago, it has steadily increased in importance for businesses investing in R&D work. The disallowance of current expensing of R&D costs that fall under Section 174—effective from Jan. 1, 2022—amplified the credit’s importance in recent years. As the value of the credit has increased for taxpayers, so has the IRS’s scrutiny of the credit.
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3 days ago | 
news.bloomberglaw.com | Daniel Xu |Melanie Cohen
The Trump administration has made clear it intends to use executive agencies to enforce its priorities, including promotion of religious liberty, freedom of speech, and viewpoint diversity. After threatening Big Law firms with loss of access to the administration—and making deals with some firms while others filed suit—President Donald Trump has leveled similar accusations against multiple colleges and universities.
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3 days ago | 
news.bloomberglaw.com | Melanie Cohen |Daniel Xu
Americans love to hate taxes and tax collectors. So it’s not surprising that the Trump administration’s drive to hobble the IRS is drawing a muted response instead of outrage in state capitals. Yet both red and blue state leaders should beware: Pushing the IRS into dysfunction will impose a world of bipartisan hurt on state finances and state taxpayers. At the beginning of this year, the IRS had roughly 100,000 employees. But the administration aims to massively reduce the IRS workforce—and fast.
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6 days ago | 
news.bloombergtax.com | Melanie Cohen |Daniel Xu
Companies spend billions of dollars every year to ensure their advertisements are shown to the right types of users at the right time. With that amount of investment, it was only a matter of time before the consumer class actions were filed. At least eight class actions have been filed against several well-known companies in the last couple of months, including Trade Desk Inc. and Experian Data Corp.
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1 week ago | 
news.bloomberglaw.com | Melanie Cohen |Daniel Xu
New Republican proposals for a millionaire tax might sound like a stab at fairness. But history and structural realities show that minor incidental reforms risk entrenching inequity rather than resolving it. Enacting, and then celebrating, superficial marginal tax rate tweaks without tackling the underlying tax base could stall political momentum for broader reform. This risks making real reform less likely.
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1 week ago | 
news.bloomberglaw.com | Daniel Xu |Melanie Cohen
Last week, the city of Washington, D.C., and the Washington Commanders announced a deal to construct a $3 billion new stadium, planning to open it for the 2030 season. The announcement will trigger a lot of excitement and chatter across the region about the stadium’s design, the planned amenities, and what stadium-goers can expect in terms of a more modern experience.
