Alerts

On July 4, President Donald Trump signed into law P.L. 119-21, the “One Big Beautiful Bill Act” (OBBBA), which, among other notable changes to the US tax system, rolls back several renewable energy incentives enacted under the Inflation Reduction Act of 2022 (IRA) and creates new restrictions on renewable energy incentives for taxpayers with certain foreign entity connections, which are detailed below.

The court held that the statute of limitations began to run from the date when a former employee produced confidential company financial during discovery in an unrelated matter, and not from the earlier date when the former employee had copied and taken the files, because defendants had not failed to exercise reasonable diligence to uncover the alleged misappropriation.

On July 4, President Trump signed into law the “One Big Beautiful Bill Act (OBBBA),” more formally known as “H.R.1 – An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14.”

Headlines that Matter for Companies and Executives in Regulated Industries

On July 22, the US Senate passed the Maintaining American Superiority by Improving Export Control Transparency Act (the Bill), sending it to President Trump for his signature.

The Trump Administration is moving aggressively to prevent foreign adversaries’ ownership of US agricultural land.

On July 29, the Attorney General (AG) of the United States issued a memorandum entitled “Guidance For Recipients of Federal Funding Regarding Unlawful Discrimination” (hereinafter “Guidance”). This alert provides a review of the guidance and recommendations for consideration.

The Committee on Foreign Investment in the United States (CFIUS) is back in the spotlight.

This fall, Congress is poised to consider and develop legislation differing in type and scope — from funding measures to reconciliation proposals.

The District of Columbia’s Access to Justice (ATJ) Initiative is the primary local mechanism for public funding of civil legal services to low- and moderate-income DC residents.

On July 29, the US Environmental Protection Agency (EPA) announced a proposal to rescind its 2009 Endangerment Finding.

An association’s board often confronts difficult decisions. One that is particularly challenging is whether and how to remove a sitting director.

On July 31, the US Department of Health and Human Services’ (HHS) Health Resources and Services Administration (HRSA) announced the availability of a new pilot program altering how pharmaceutical manufacturers can honor the 340B price.

After weeks of anticipation and a flurry of news from Washington, DC, the White House has issued a long-awaited executive order (EO) that resets the landscape for US reciprocal tariffs and related trade measures.

The climate debate has whipsawed in recent years. Businesses frequently have been caught in the middle, with stakeholders including government regulators, activist investors, consumers, non-governmental organizations, and community groups all pursuing different agendas.

Headlines that Matter for Companies and Executives in Regulated Industries

On July 21, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a two-year postponement of the Anti-Money Laundering (AML)/Countering the Financing of Terrorism (CFT) Program and Suspicious Activity Report filing requirements for registered investment advisers (IAs) and exempt reporting advisers.

In this episode of Five Questions, Five Answers, host Birgit Matthiesen welcomes AFS attorney James Kim to explore the current state of US tariffs and their impact on importers and various industries, with a special focus on the electric vehicle sector.

Immigration enforcement actions are no longer a theoretical concern for health care facilities — they are happening now.

Recently introduced bipartisan legislation aims to significantly streamline the environmental review process for recipients of federal assistance.

The Trump Administration has proposed implementing a broad range of regulatory changes in order to promote the development of artificial intelligence (AI) in the United States.

In this episode of Tax Stuff You Should Know, hosts Bob Pluth and Gene Magidenko delve into the complexities of profits interests, a compensation tool for partnerships and limited liability companies (LLCs) taxed as partnerships.

The US Department of Commerce is reportedly considering a significant overhaul of the current patent maintenance fee structure, proposing a shift from the established flat-fee system to an annual, value-based tax on patents.

On July 18, the US Patent and Trademark Office (USPTO) announced a revised practice for setting Patent Trial and Appeal Board (PTAB) filing dates for post-grant proceedings. Effective immediately, the PTAB will issue Notices of Filing Date Accorded within 14 days of petition filing, unless exceptional circumstances prevent timely issuance.

The state legislatures remain extremely active on privacy legislation this year. One new state comprehensive privacy law took effect on July 1, one takes effect July 31, and a third will take effect on October 1.