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Search OptionsBusinessU.S. Trade Court Orders Refunds of Unlawfully Collected IEEPA Tariffs
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… IRS Releases Schedule 1‑A Providing Reporting Framework for New “No Tax” Deductions Affecting Employers and Auto Lenders
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… Treasury and IRS Issue Interim Guidance on 100% Depreciation for Qualified Production Property
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… Supreme Court Invalidates IEEPA Tariffs
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… Employee Ownership Trusts: A Modern Succession Alternative, with Brian Heaton and Sonya Seeder
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… Import Tariffs and Protective Litigation: Considerations for Importers
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… President Trump’s Executive Order on Cannabis Rescheduling: What does it mean?
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… Businesses Prepare Now for Indiana’s New Data Privacy Law Effective January 1, 2026!
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 U.S.–China Tariff Truce: What It Means for Importers
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… IRS Operations Limited During Government Shutdown; Regular Tax Deadlines Remain
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… The Illinois Secretary of State Office Offers Corporate Franchise Tax Penalty and Interest Amnesty until November 17, 2025
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… SEC to Consider Shift Away from Quarterly Reporting
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… |
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