Do business in Europe? Here’s a roundup of recent commentary and analysis on conducting business in Europe, including REACH regulations, patent classification, taxation, mobile apps, dawn raids, and more: Some clarification regarding challenges to REACH candidate listing (K&L Gates LLP): “In a series of recent judgments the EU General Court has given some guidance to companies… Read more »
Happy Valentine’s Day, and welcome to the latest edition of the Corporate Law Report. You know what to do: Watch the video overview above and, for any topics that interest you, go deeper with the legal analysis and commentary below>> Latest Need-to-Know… H-1Bs for FY 2014 – Fowler White Boggs P.A. Petitioners File Opening Brief… Read more »
The American Taxpayer Relief Act was signed into law in extremis on January 2, 2013, bringing with it important changes to the country’s tax laws, including the extension of a number of credits, exemptions, and favorable rates that were scheduled to expire at the end of 2012. For nonprofits and charities – and for the… Read more »
Employers, take note: tax relief for nonqualified deferred compensation plans – agreements to provide payment for services in exchange for a signed release – is due to expire at the end of the year. That means that employers and employees will need to review any such arrangements, which could include equity, nonqualified retirement, and severance… Read more »
Earlier this month, the Internal Revenue Service issued important guidance for employers on the rules for identifying “full-time” employees for the purposes of the Affordable Care Act. It’s an important clarification, write employment attorneys Josh Bobrin and Edward Leeds (Ballard Spahr), because: “Effective January 1, 2014, employers with 50 or more full-time equivalent employees are… Read more »
For your convenience, here’s a roundup of recent legal advisories on the broad topic of doing business in the European Union and its member countries: Rewards and Penalties in Bond Covenant Consent Solicitations Under English Law (Skadden, Arps, Slate, Meagher & Flom LLP): “Two recent cases decided in the English High Court provide contrasting views… Read more »
On July 24, 2012, a California Court of Appeals ruled in Gillette Company v. Franchise Tax Board that Gillette – and any other California corporate taxpayer with multistate operations – is entitled to calculate its income tax based on methods set forth in the Multistate Tax Compact adopted by the state in 1974. First, the… Read more »
From lawyers and law firms on JD Supra, recent advisories on a range of legal considerations: High Noon: The Italians try to play solo the Health Claims game (K&L Gates LLP): “On November 27, 2009, the Italian Government notified a draft regulation on the use of substances other than vitamins and minerals in food supplements… Read more »
For your reference, here’s a roundup of recent legal advisories on the broad topic of doing business in the Middle East: Iraq Iraq Perspectives – May 2012 (Pillsbury Winthrop Shaw Pittman LLP) “Iraq is recovering from decades of war, sanctions and domestic unrest, and the country is in urgent need of all types of infrastructure… Read more »
According to the National Center for Charitable Statistics, there are more than 1.5 million nonprofit and tax-exempt organizations operating in the United States, from charities to industry associations to religious institutions. But whatever their structure or purpose, such organizations need to understand – and respond to – key legal and regulatory issues that are unique… Read more »
We continue to see interest in the legal implications for US taxpayers and foreign financial institutions alike of the Foreign Account Tax Compliance Act, known as FATCA. For your reference, here’s a roundup of recent advisories from lawyers and law firms on JD Supra. [See also the updated 5 Takeaways from New IRS FATCA Guidance] … Read more »
For your reference, a roundup of legal advisories regarding the new IRS Form 990, unpaid internships, employment matters, fundraising, lobbying, and other issues and concerns particular to nonprofit organizations: Recent Developments for Exempt Organizations, Including 2011 Year in Review (Ropes & Gray LLP) “Looking ahead, the IRS Exempt Organizations division recently released its annual work… Read more »
On February 8, 2012, the Internal Revenue Service issued its long-awaited proposed regulations for implementing the Foreign Account Tax Compliance Act (FATCA). The new rules lay out a step-by-step process for US account identification, information reporting, and withholding requirements for non-US financial institutions and other foreign entities. For your reference, five takeaways from the proposed… Read more »
Just in time for the 2011 tax season, here’s a roundup of recent legal updates that address tax reporting requirements – and penalties for non-compliance – for US dual citizens with foreign income and financial assets: IRS Issues Fact Sheet Providing Information on Federal Income Tax Return and Foreign Bank Filing Requirements – Potential Penalties… Read more »
“[The Foreign Account Tax Compliance Act] imposed a substantial withholding tax, due diligence, and reporting regime on non-U.S. entities to enlist their assistance in rooting out U.S. taxpayers who are using offshore entities and accounts to hide their assets and income. Unfortunately, the rules are lengthy, difficult to comprehend, expensive to implement, and will likely… Read more »
