Can an Employee Make a Midyear Cafeteria Plan Election Change on Account of Financial Hardship?
QUESTION: One of our employees elected to contribute $2,000 to his health FSA for 2025 to help pay for anticipated …
Treasury Hopes to Offset Tax Cut Costs With Tariff Revenue
Treasury Secretary Scott Bessent expressed optimism on President Trump’s 100th day in office about the progress of negotiations with congressional …
Arkansas Adopts Market-based Sourcing for Services and Intangibles Receipts, Makes Other Income Tax Changes
By James W. O’Brien Arkansas Governor Sarah Huckabee Sanders has signed legislation revising the law on the apportionment of corporation income …
Trump Order Ending Treasury Worker Collective Bargaining Blocked by Judge
A federal labor union representing Treasury Department and IRS employees, as well as workers from dozens of other agencies, secured …
Oregon Plaintiffs Oppose ‘Stay’ in Corporate Transparency Act Case
As the Trump administration’s Treasury seeks to pause litigation challenging the Corporate Transparency Act’s beneficial ownership information reporting requirements, one …
Direct File Supporters Call Ending Program an ‘Insult’
Congressional Democrats and policy groups are urging the Trump administration to continue the IRS’ free e-filing program, Direct File. Direct …
Treasury Seeks Pause in Corporate Transparency Act Case
After dialing back the Corporate Transparency Act’s beneficial ownership information reporting requirements last month, the Treasury Department is now moving …
Paul Atkins Becomes SEC Chair as Trump Orders Rule Cuts at Agencies
Paul Atkins was sworn into office as chair of the Securities and Exchange Commission (SEC) on April 21, 2025. And …
Supreme Court Eases Path for Participants to Challenge ERISA Prohibited Transactions
Cunningham v. Cornell Univ., 2025 WL 1128943 (U.S. 2025) Available at https://www.supremecourt.gov/opinions/24pdf/23-1007_h3ci.pdf A group of current and former participants in …
Oral Arguments Heard in Dispute Over Mootness of Tax Proceedings
The Supreme Court heard oral arguments in a case between the IRS and a taxpayer that poses the question whether …