On March 4, 2026, Judge Richard K. Eaton of the U.S. Court of International Trade (“CIT”) issued a significant ruling holding that all importers of record who paid tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”) are entitled to refunds. The ruling follows the Supreme…
On March 2, 2026, the Internal Revenue Service released Schedule 1‑A (Form 1040) and accompanying updates to the Form 1040 Instructions implementing several new individual tax deductions enacted under the reconciliation legislation commonly referred to as the One, Big, Beautiful Bill Act. Although…
On February 20, 2026, the U.S. Department of the Treasury and the Internal Revenue Service released Notice 2026-16, providing interim guidance on a new 100% special depreciation allowance for certain nonresidential real property, depreciable under MACRS,1 used in manufacturing and other production…
On February 20, 2026, the Supreme Court of the United States issued a landmark decision holding the Trump Administration’s tariffs imposed under the International Emergency Economic Powers Act ("IEEPA") were unlawful and exceeded the authority delegated by Congress. The Court decided, by a 6–3…
Last November, the architecture and engineering firm Guidon – a Krieg DeVault client – became partially employee-owned through an Employee Ownership Trust, or EOT. Guidon’s general counsel, Sonya Seeder, joins Brian Heaton, a longtime Krieg DeVault partner who helps middle- and lower-middle market…
Many importers are filing protective lawsuits in the U.S. Court of International Trade (“CIT”) to preserve potential refund rights relating to tariffs imposed by the Trump Administration under the International Emergency Economic Powers Act (“IEEPA”). This group includes several large, well-known…
On December 18, 2025, President Donald J. Trump issued an Executive Order (the “Order”) directing the federal government to expedite administrative rescheduling of cannabis1 from Schedule I to Schedule III under the Controlled Substances Act of 1970 (the “CSA”).2 The related White House Fact Sheet…
The Indiana Consumer Data Protection Act (INCDPA), effective January 1, 2026, introduces new requirements for businesses that handle personal data of Indiana residents. If your company operates in Indiana or targets Indiana consumers, now is the time to ensure compliance with the INCDPA.
The United States and China have reached a fragile but meaningful truce that halts, for now, the escalation of tariffs that had been set to take effect on November 1. The announcement follows high-level discussions between President Donald Trump and President Xi Jinping at the Asia-Pacific Economic…
On October 21, 2025, the Internal Revenue Service (IRS) released its official “Statement on IRS operations limited during the lapse in appropriations; regular tax deadlines remain”, available at IRS.gov. The announcement confirms that, despite the ongoing federal government funding lapse, all…
On October 1, 2025, the Illinois Secretary of State announced an amnesty program for corporations who are behind on paying their annual Franchise Taxes due in Illinois. This applies to those organized as Illinois corporations or those organized in other states but are (or should be) authorized to…
President Donald Trump caught the attention of many recently with the following Truth Social post:
Subject to SEC Approval, Companies and Corporations should no longer be forced to “Report” on a quarterly basis (Quarterly Reporting!), but rather to Report on a “Six (6) Month Basis.” This will save…
