The U.S. Supreme Court has rejected a request to stay a prior federal district court opinion that vacated a key Federal Election Commission donor disclosure regulation. As noted in an earlier Client Alert, that district court ruling was issued last month by Judge Beryl Howell of the U.S. District Court for the District of Columbia, […]
The Tax Cuts and Jobs Act changed the way tax-exempt organizations calculate their unrelated business taxable income (UBTI). No longer can organizations follow the rules used by taxable entities and aggregate income and deductions from all of their unrelated trades or businesses. Rather, new code section 512(a)(6) requires organizations to separately compute their UBTI for […]
The Tax Cuts and Jobs Act changed the way tax-exempt organizations calculate their unrelated business taxable income (UBTI). No longer can organizations follow the rules used by taxable entities and aggregate income and deductions from all of their unrelated trades or businesses. Rather, new code section 512(a)(6) requires organizations to separately compute their UBTI for […]
By Kevin C. Maclay, Todd E. Phillips and Sally J. Sullivan Recently, in the Advance Watch bankruptcy, the Bankruptcy Court for the Southern District of New York ruled that a bankruptcy judge is authorized to enter a final default judgment in an adversary proceeding against a foreign defendant who failed to respond to a validly-served […]
By Kevin C. Maclay, Todd E. Phillips and Sally J. Sullivan Recently, in the Advance Watch bankruptcy, the Bankruptcy Court for the Southern District of New York ruled that a bankruptcy judge is authorized to enter a final default judgment in an adversary proceeding against a foreign defendant who failed to respond to a validly-served […]
It’s a complex process that involves uncovering sources of money, using the proper means and evaluating whether the timing is good. If the economy is slow, it’s more difficult to raise cash — no matter how clever your business plan is. Round Robin Financing is often done through “rounds,” which occur over time and involve one […]
Last week, a federal district court issued a ruling vacating a key Federal Election Commission donor disclosure regulation as inconsistent with the Federal Election Campaign Act of 1971, as Amended (“FECA”). Although the court’s ruling has not yet taken effect and is likely to be appealed, it is a notable development in the long-standing fight […]
Employment Law Avoid Costly Employer Mistakes Today’s employers face a growing list of liability dangers. They begin as soon as a business starts looking for job applicants and can continue even after employees leave the company. Here are three cases involving a medical practice, a manufacturer and a restaurant that highlight some of the […]
By Kevin C. Maclay, Todd E. Phillips and Kevin M. Davis Recently, in Anderson v. Credit One Bank, N.A.,[i] the Second Circuit affirmed the denial of a credit card issuer’s attempt to compel arbitration of a discharged Chapter 7 debtor’s putative class action to enforce the bankruptcy discharge injunction. The Second Circuit found that arbitration […]
On June 26th, IRG members from the District of Columbia, Maryland, and Virginia (DMV Group) gathered for an informal lunch hosted by Bill Shawn. Guests included Jeff Liesemer, Sheryl Miller, Bill Shawn, Kara Maciel, Joe Gormley, and Steven Benz. This first meeting of the DMV Group was meant to help everyone get to know each […]
During the IR Global ‘On the road’ conference in Toronto (May 2018), Jeffrey Liesemer (Member of Caplin & Drysdale, Chartered, United States) and Kyle Broadhurst (Director of Broadhurst LLC, Cayman Islands) sat down to discuss their respective international insolvency practices and the main insolvency procedures in their respective jurisdictions. To view the video in full please CLICK HERE
On May 21, 2018, the IRS Large Business and International (LB&I) division added foreign trust information reporting to its “compliance campaigns,” signaling that the IRS sees a “compliance risk” in this area that requires a targeted response to achieve compliance objectives. LB&I specifically indicated that it will take a “multifaceted approach” to improving compliance, including […]