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Loper Bright Enterprises v Raimondo Internal Revenue Service Chevron Deference

McDermott Will & Emery

FedEx Defeats Government’s Loper Bright Gambit

McDermott Will & Emery on

On February 13, 2025, a Tennessee federal district court handed FedEx Corporation its second win in a refund action involving the application of foreign tax credits to what are known as “offset earnings.”[1] Offset earnings...more

Gerald Nowotny - Law Office of Gerald R....

Old Days – Memories of Equity Split Dollar in the Post-Loper Bright Era

This article focuses on the impact of the U.S. Supreme Court in Loper Bright Enterprises v. Raimondo, 603 U.S. (2024) and how it might apply to Split Dollar life insurance and possibly resurrect one of my favorite life...more

The Wagner Law Group

Update – Recent Developments in Forfeiture Cases

The Wagner Law Group on

The Wagner Law Group continues to monitor the recent flood of retirement plan “forfeiture” litigation. This alert is our eighth update reporting on and analyzing the nature of the claims raised by plaintiffs, the defenses...more

Eversheds Sutherland (US) LLP

Tax Court update post-Chevron

On November 5, 2024, Judge Goeke of the United States Tax Court issued an order granting the petitioners’ Motion for Reconsideration of Findings (Motion) in Schwarz v. Commissioner. On May 13, 2024, the Tax Court released...more

Snell & Wilmer

2024 End-of-Year Plan Sponsor “To Do” List (Part 1) Health and Welfare

Snell & Wilmer on

We are pleased to present our annual End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. This Part 1 covers year-end health and welfare plan issues. Parts 2,...more

DLA Piper

REIT Tax News - October 2024

DLA Piper on

Welcome to the October 2024 issue of REIT Tax News. Below, we take a look at five developments to read about in less than five minutes. 1. Loper Bright standard takes hold in Varian Medical case - In the landmark case of...more

Proskauer Rose LLP

Wealth Management Update - September 2024

Proskauer Rose LLP on

The September 2024 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 4.8%, a decrease from the August 2024 rate of 5.2%. The September applicable federal rate (“AFR”) for use...more

Holland & Knight LLP

What's Next for the Regulatory Landscape Post-Chevron?

Holland & Knight LLP on

For nearly 40 years and in more than 18,000 judicial opinions, federal courts have used the Chevron doctrine to defer to an agency's reasonable interpretation of an ambiguous statute. On June 28, 2024, the U.S. Supreme Court...more

Jones Day

U.S. Tax Court Invokes Loper Bright for the First Time

Jones Day on

The U.S. Tax Court allows a dividend-received deduction ("DRD") for a Section 78 gross-up while also disallowing foreign tax credits in its first application of Loper Bright....more

Eversheds Sutherland (US) LLP

In Rawat, DC Circuit construes the Code and regulations without deference, providing an example of statutory and regulatory...

On July 23, 2024, the United States Court of Appeals for the District of Columbia Circuit (Court of Appeals) released a decision in Rawat v. Commissioner (available here). The case considers whether the portion of a non-US...more

Farrell Fritz, P.C.

What’s Next After the Supreme Court Ends Chevron Deference?

Farrell Fritz, P.C. on

On June 28, 2024, in Loper Bright Enterprises v. Raimondo, the U.S. Supreme Court overruled its decision from a 1984 case and eliminated the doctrine of “Chevron deference.” Under this doctrine, courts deferred to permissible...more

Fenwick & West LLP

Rawat Creates a Ripple in Statutory Interpretation Principles

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Recently, in Rawat v. Commissioner, the D.C. Circuit reversed the Tax Court decision and held that a foreign partner would not be subject to U.S. tax on selling an interest in a partnership with “hot assets” subject to §...more

Davies Ward Phillips & Vineberg LLP

U.S. Supreme Court Upends 40 Years of Judicial Deference to Regulations

In a historical opinion in Loper Bright Enterprises v. Raimondo, Secretary of Commerce, released at the end of June, the U.S. Supreme Court overturned the “Chevron” doctrine, which for so long had controlled judicial review...more

Pillsbury Winthrop Shaw Pittman LLP

The End of the Chevron Doctrine and the Reassertion of Judicial Primacy in Reviewing Federal Regulatory Actions

In 1984, the U.S. Supreme Court (SCOTUS) decided Chevron USA, Inc. v. National Resource Defense Council, reversing a lower court ruling that set aside EPA’s Clean Air Act “bubble policy” of providing regulatory relief from...more

Cadwalader, Wickersham & Taft LLP

Supreme Court Overruling of Chevron Fuels Regulatory Uncertainty

On June 28, the U.S. Supreme Court sent shockwaves through the legal system by overturning one of the foundational precedents of American administrative law.  In Loper Bright Enterprises v. Raimondo, the Court, in a 6-3...more

Holland & Knight LLP

U.S. Supreme Court Rulings Affect Challenges to Tax Regulations

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Upon closing its October 2023 term, the U.S. Supreme Court issued two significant opinions – despite neither being a tax case – that will have broad consequences for taxpayers seeking to challenge tax regulations and other...more

McDermott Will & Emery

Supreme Court Overrules Chevron, Opening Door for New Tax Reg Challenges

McDermott Will & Emery on

On June 28, 2024, the Supreme Court of the United States reshaped the federal tax landscape when it overturned the long-standing Chevron doctrine in Loper Bright Enterprises v. Raimondo, No. 22-451. The Chevron doctrine, a...more

Dinsmore & Shohl LLP

Future of IRS Authority in Question After Supreme Court Overturns Chevron Doctrine

Dinsmore & Shohl LLP on

The Supreme Court has overturned the Chevron Doctrine--a four decade-old ruling that enabled Federal agencies, including the Internal Revenue Service (“IRS”), to interpret ambiguous laws passed by Congress, and to have such...more

Vinson & Elkins LLP

"A Massive Shock to the Legal System": Supreme Court Supermajority Significantly Curtails Administrative Agency Authority in Loper...

Vinson & Elkins LLP on

In a landmark decision, the Supreme Court has overruled the Chevron doctrine, fundamentally altering the landscape of administrative law and significantly impacting federal tax administration. Six justices, with Chief Justice...more

McDermott Will & Emery

How Pending Fishing Boat Cases at the Supreme Court Could Rock the Benefits Plan Boat

McDermott Will & Emery on

Thanks to two cases about federally mandated observers on fishing boats, judicial deference to agencies is likely to soon get weaker – and more unpredictable – with wide-ranging impacts for employee benefits. Less deference...more

Fenwick & West LLP

Five Tax Cases that May Impact Your Business 2024

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The book has closed on 2023, but several recent tax-related rulings are sure to have ripple effects into 2024 and beyond—particularly with respect to transfer pricing and foreign tax credits. Here are five cases that will...more

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