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1 week ago | 
news.bloombergtax.com | Jessica Estepa |Daniel Xu
The second Trump administration’s embrace of reduced federal enforcement in a variety of areas has led to state attorneys general stepping up to fill the enforcement void. From the effective shuttering of the Consumer Financial Protection Bureau to the Federal Trade Commission Chair’s commitment to “stay in our lane,” enforcement priorities have dramatically shifted across all federal regulators.
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2 weeks ago | 
news.bloombergtax.com | Daniel Xu |Jessica Estepa
Latin is the second language of the legal profession. Amicus curiae. Prima facie. Pro bono. Lawyers use these phrases every day in briefs, courtrooms, contracts, and conversations. But did you know that business development has its own set of Latin phrases? You won’t find them in Black’s Law Dictionary, but they capture timeless truths about how lawyers communicate, position themselves, and grow their practices.
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2 weeks ago | 
news.bloomberglaw.com | Daniel Xu |Jessica Estepa
The trade dispute between Canada and the US has caused significant financial pain for businesses and consumers on both sides of the border. The tariffs are being imposed on billions of dollars’ worth of goods traded between the inseparable trading partners.
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2 weeks ago | 
news.bloombergtax.com | Daniel Xu |Melanie Cohen
Many car owners have gotten a letter from a vehicle manufacturer informing them of a vehicle being recalled and needing to be fixed. Recalls historically have required physical repairs. But in recent years, a new kind of recall has emerged, reflecting the increasingly computerized and connected vehicles on our roads: the over-the-air, or OTA, recall. Instead of being repaired in a shop, vehicles are “recalled” through remote software fixes.
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2 weeks ago | 
news.bloomberglaw.com | Daniel Xu |Melanie Cohen
Efficiency seems to be the buzzword in government these days, as many agencies are being asked to do more with less. The Treasury Inspector General for Tax Administration suggested in a report last month that the IRS should train artificial intelligence to flag noncompliant taxpayers using past audit results. That sounds efficient enough, but we’ve seen how such a movie might end. In the Netherlands, it ended with mass apologies and a government collapse.
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3 weeks ago | 
news.bloombergtax.com | Daniel Xu |Melanie Cohen
As artificial intelligence continues to proliferate, businesses are integrating AI-generated content into their branding, marketing, and intellectual property strategies. One area that can cause serious issues for businesses is the use of AI to generate forms of IP, such as trademarks for branding products and services and copyrights for protecting original works of authorship.
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3 weeks ago | 
news.bloomberglaw.com | Melanie Cohen |Daniel Xu
Spain is preparing to push forward with a 100% tax on non-European Union homebuyers to curb a housing crisis. But targeted reforms should address the real culprits: vacancy and speculation. Taxing short-term flipping and penalizing empty housing stock while requiring meaningful residency would better address the problem while preserving Spain’s openness to foreign investment. Spain’s housing crisis isn’t just a policy shortcoming; it’s a potential political time bomb.
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3 weeks ago | 
news.bloomberglaw.com | Daniel Xu |Melanie Cohen
Tax policy doesn’t always seek to shape behavior. But once it tries, it must follow through. The European Union’s outdated tobacco excise tax rules are a prime example. The current framework, designed over a decade ago, taxes traditional cigarettes aggressively but leaves newer products—such as heated tobacco, e-cigarettes, and nicotine pouches—in a regulatory gray area. The result is a de facto subsidy for products that aren’t necessarily safer, just newer.
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4 weeks ago | 
news.bloombergtax.com | Daniel Xu |Melanie Cohen
Albert Einstein is attributed with once saying that, “If you can’t explain it simply, you don’t understand it well enough.” The adage especially applies to generative artificial intelligence models. If you don’t understand a topic sufficiently to phrase a simple question for it, how can you expect generative AI—which can be as literal as a 6-year-old—to answer your prompt effectively? The key is simplicity and a direct approach to language, which is how lawyers are trained to communicate.
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1 month ago | 
news.bloombergtax.com | Daniel Xu |Melanie Cohen
The Department of Justice’s new data security program took effect on April 8. A few days later, the agency issued an implementation and enforcement policy that provides a 90-day leniency period for DSP civil enforcement through July 8, along with a compliance guide and frequently asked questions. The DSP regulates access to certain types of bulk sensitive US personal data and government-related data, in particular—but not only—where “countries of concern” such as China are involved.
