On July 20, 2026, the US Tax Court issued a consolidated opinion in Lewis v. Commissioner and McDougall v. Commissioner, T.C. Memo. 2026-58, addressing how to value taxable gifts arising from the early termination of a residuary trust. The decision (…)
Two developments this week signal continued aggressive US merger enforcement notwithstanding a generally more permissive environment for technology M&A in the first half of 2026. Edwards and Genesis: record HSR penalty. On July 13, 2026, the DOJ, acting on behalf (…)
On July 15, 2026, the US Tax Court issued its decision in Siemens Medical Solutions USA, Inc. and Consolidated Subsidiaries v. Commissioner, 167 T.C. No. 5, holding that Siemens was entitled to the full 100% dividends-received deduction under section 245A (…)
On July 17, 2026, the US Department of Justice announced a three-year deferred prosecution agreement (DPA) with The Scoular Company, a Nebraska-based agricultural commodities firm, involving alleged bribes paid to Mexican government officials in connection with cross-border trade in agricultural (…)
On July 7, 2026, the Federal Reserve Board voted 6 to 1 to issue a Notice of Proposed Rulemaking modernizing Anti Money Laundering and Countering the Financing of Terrorism (AML/CFT) program requirements for Board supervised banks. Governor Michael Barr was (…)
On July 15 and 16, the Office of the US Trade Representative issued the final Section 301 action against Brazil, imposing a 25% tariff on substantially all Brazilian goods entering the United States starting July 22, 2026. This is the (…)
On July 16, the US Securities and Exchange Commission proposed Regulation E-Delivery, a rulemaking that would fundamentally restructure how investment funds, broker dealers and public issuers deliver disclosures and required communications to investors. The proposal would make electronic delivery the (…)
In an 8-K filed July 1, 2026, The Kroger Co. disclosed an agreement to acquire family-owned regional grocer Giant Eagle, Inc. for approximately $1.65 billion — $1.25 billion in cash plus roughly $400 million in assumed liabilities. Giant Eagle operates (…)
The Department of the Treasury and the Internal Revenue Service issued Revenue Procedure 2026-14 providing guidance to the Chief Executive Officers of any State, the District of Columbia, and U.S. territories regarding the procedure for nominating population census tracts to (…)
The Federal Trade Commission announced on July 1, 2026 that it is seeking public comment on a proposed policy statement addressing concerns that AI companies may be manipulating the behavior of their AI systems in ways that conflict with reasonable (…)