Tax Law News and Insights

Artificial intelligence tools have potential to lead great advances throughout society. But the tools have downsides, and some—including applicant screening tools, employee monitoring systems, and video interviewing scoring tests—may create bias-related risks. Employers should take advantage of AI tools' many benefits, but they must also ensure proper oversight and risk...

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The US Internal Revenue Service (IRS) released Notice 2024-78 ("Notice") in October 2024, which provides an extension of and additional temporary relief procedures for certain foreign financial institutions (FFIs) resident in eligible Model 1 intergovernmental agreement (IGA) jurisdictions with respect to an FFI's obligation to report US taxpayer identification numbers...

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At the end of 2025, the federal estate and gift tax exemption will dramatically decrease unless Congress affirmatively passes a law saying otherwise. This event is the "sunsetting" of a 2018 federal tax law and is leading many people to engage in wealth transfer planning now. Understanding the history of...

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