The IRS has obsoleted nine pieces of sub regulatory guidance in accordance with an executive order by President Trump to improve government efficiency by reducing regulations. In identifying the guidance documents for removal, the IRS determined that these guidance documents no longer provide useful information.
Among the guidance obsoleted by Notice 2025-22 is Notice 2015-73
Several bills aimed at making changes to Louisiana severance tax laws were filed on Friday, the deadline for pre-filing bills to be considered during the Louisiana Legislature’s upcoming regular session, which is a fiscal one.
While voters in Louisiana may have rejected all four of the constitutional amendments on Saturday’s ballot (the Secretary of State reported just over 21% voter turnout), including Amendment No. 2 which contained significant tax measures, efforts at tax reform are likely to resume during the Legislative Session that convenes next month.
On Tuesday, the Louisiana Supreme Court rejected an attempt to block a constitutional amendment needed to complete the restructuring of the state’s tax laws sought by Gov. Jeff Landry and the Louisiana Legislature.
In response to the 2024 Third Extraordinary Session to address state tax reform, the Louisiana Department of Revenue (the “Department”) issued Revenue Information Bulletin No. 25-009 to clarify that certain exemptions and exclusions were inadvertently repealed due to “technical oversights.”
In E.M.D. Sales, Inc. v. Cabrera, the Supreme Court unanimously held that a preponderance of the evidence standard applies when an employer must demonstrate that its employees were correctly classified as exempt from the minimum-wage and overtime-pay requirements of the Fair Labor Standards Act (“FLSA”).
Another judge with the Eastern District of Texas enjoined enforcement of the Beneficial Ownership Information reporting requirements on Wednesday January 8, 2025.
At the conclusion of the 3rd Extraordinary Session of 2024, the Louisiana Legislature passed a series of bills aimed at reforming the Louisiana tax code.
The U.S. Fifth Circuit Court of Appeals reinstated the injunction against enforcement of the Beneficial Ownership Information reporting requirements.
The National Labor Relations Board (“NLRB”) has been busy recently, reversing 80-year-old precedent concerning captive audience meetings and 40-year-old precedent concerning permissible statements about the impacts of unionization.