Robert Kovacev discussed the U.S. Supreme Court's recent decision in the Loper Bright Enterprises v. Raimondo case that has significant implications for businesses and federal agencies, particularly concerning tax regulations. This case, which overturned a deferential standard that had been in place for 40 years, will impact the Internal Revenue Service's (IRS) ability to defend Treasury regulations from taxpayer arguments that the regulations are invalid. Businesses should review their tax positions to see if they are dependent on a regulation that might be vulnerable to a challenge, Kovacev said.