Player power, loyalty and respect of contracts has increasingly made media headlines, demonstrated predominantly this summer with Luis Suarez of Liverpool FC and Manchester United's Wayne Rooney. As widely reported, Arsenal FC made an infamous bid of £40,000,001.00 to Liverpool for the transfer of the registration of Suarez to Arsenal ...
John Grimes Partnership Ltd v Gubbins [2013] EWCA Civ 37 involved a dispute about a property development. Mr Gubbins engaged the John Grimes Partnership Ltd to design a road over land on which he intended to develop residential properties. An express term of the contract between the parties was that the works would be completed by March 2007. However, in February 2008 there was still work to be done so Mr Gubbins engaged an alternative engineer to complete the work ...
Dinsmore real estate associate Sam Brinker was recently published in Bar Briefs, the Louisville Bar Association's monthly publication. He wrote on his experience as a transgender man and what paths may be considered to defeat the many pieces of anti-trans legislation circulating the country. Read an excerpt below ...
Over the last 10 years or so, we have seen a lot of buzz and excitement around Black Friday and Cyber Monday. According to research conducted by Which? into a selection of deals from last year it seems that the lure of a Black Friday deal isn't all it cracks up to be and that it isn't necessarily the cheapest time of the year to shop ...
The enactment of the UAE’s first standalone arbitration law (Federal Law No. 6 of 2018; the Arbitration Law) introduced some important changes to arbitration in the UAE, such as recognising the enforceability of interim awards and significantly streamlining the enforcement of arbitral awards. However, the requirements for establishing a valid arbitration agreement (i.e ...
May 24, 2023 By: Peter McGaw When Potentially Responsible Parties (PRPs) settle CERCLA cases, they want finality. They don't expect to be asked to pay a second time for a claim they have already resolved by settlement. However, a concurring opinion in a recent Ninth Circuit decision casts doubt on the ability of a PRP to achieve finality through settlement. The Ninth Circuit’s decision in GP Vincent II v Beard was issued on May 17, 2023 ...
Last week, a trial court in Buffalo ruled that a group of personal injury plaintiffs’ strict liability claims against a who’s-who of social media companies, arising out of the tragic 2022 Tops Friendly Markets mass shooting, could proceed to discovery, rejecting the argument that Section 230 of the Communications Decency Act barred such claims from the get-go. Patterson, Diona Et Al v. Meta Platforms, Et Al, 0805896/2023 (NYSCEF Doc No. 409) ...
On November 20, 2018, the IRS Criminal Investigation (CI) unit issued a memorandum to IRS Division Commissioners on voluntary disclosure practice following the end of the Offshore Voluntary Disclosure Program (OVDP). How Did We Get Here? For the last 7 years, the IRS maintained a consistent, robust program for taxpayers with exposure to potential criminal liability or substantial civil penalties due to a willful failure to report foreign financial assets ...
The IRS has issued Notice 2020-32 addressing the ability to deduct expenses paid with proceeds of Paycheck Protection Program loans. Under Section 1102 of the CARES Act, qualifying businesses are eligible for Small Business Administration Paycheck Protection loans of up to 2.5 times their average monthly payroll, calculated as defined in the Act ...
Key Points Small employers (with fewer than 500 employees) and governmental employers who are required to provide employees with paid sick and expanded family leave related to COVID-19 are required to report the amounts paid on Form W-2. IRS guidance provides information about how to report paid leave on employees’ Forms W-2 ...
On Aug. 28, 2020, the U.S. Department of Treasury and the Internal Revenue Service (IRS) issued Notice 2020-65 (the Notice). The Notice implements President Donald Trump’s Aug. 8, 2020 directive (the Directive) to defer withholding, deposit, and payment of the 6.2 percent employee share of Social Security tax and railroad retirement equivalent tax on certain wages and compensation paid to employees ...
Under the Affordable Care Act (“ACA”), large employers (generally those with 50 or more full-time employees or full-time equivalents) must report annually to the IRS information about the health coverage offered to their full-time employees during the prior year. Employers also must provide copies of the reports to their full-time employees ...
On Sept. 30, 2019, the IRS issued proposed regulations regarding how the employer-shared-responsibility provisions of the Affordable Care Act (ACA) and certain nondiscrimination rules under the Internal Revenue Code (Code) will apply to individual coverage health reimbursement accounts (HRAs). The proposed regulations aim to facilitate the adoption of individual coverage HRAs by employers on or after Jan. 1, 2020. Background On Oct ...
The IRS has issued the several news releases in response to the COVID-19 pandemic: IRS Notice 2020-18 Tax Day now July 15. Treasury, IRS extend filing deadline and federal tax payments regardless of amount. The Treasury Department and IRS announced the federal income tax filing due date (for individual, trusts, estates, partnerships, corporations, and associations) is automatically extended from April 15, 2020, to July 15, 2020 ...
In light of the restrictions on gatherings imposed in many states due to the COVID-19 pandemic, the IRS has issued Revenue Procedure 2020-21, which will temporarily allow public hearings to be held by teleconference. For the purposes of IRS rules, teleconference hearings will be permitted in all jurisdictions, regardless of any state or local orders or guidance on public gatherings ...
Key Points The cash value of employees’ donated leave time paid to a qualified charitable organization in 2020 under an employer-sponsored leave donation program is not taxable wages or compensation. Employers may take a tax deduction for such payments as a business expense or a charitable contribution ...
Key Points Participants in defined contribution retirement plans, such as 401(k), 401(a), 403(b), or governmental 457(b) plans, can skip their required minimum distribution (RMD) payments for 2020. If RMDs for 2020 have already been received, participants have until August 31, 2020 to rollover the RMD into an eligible retirement plan ...
Key Points IRS guidance expands the definition of “qualified individual” for receiving a tax-favored coronavirus-related distribution (“CRD”) from a retirement plan and other plan changes under the CARES Act. The guidance confirms that plan changes under the CARES Act are optional, including the loan repayment delay, and provides a safe harbor method for implementing the loan repayment delay ...
On Nov. 4, 2021, the IRS announced in Notice 2021-61 cost-of-living adjustments ("COLAS") to the tax-qualified retirement plan dollar limits for 2022. Most of the applicable dollar limits currently effective for 2021 will increase significantly compared with prior years. Below is a summary of the limits that are generally relevant for most retirement plans. Effective Jan ...
On Oct. 26, 2020, the IRS announced in Notice 2020-79 cost of living adjustments (COLAS) to the qualified plan dollar limits for 2021. Below is a summary of the limits that are generally relevant for most retirement plans. Effective Jan. 1, 2021: The elective deferral limit for 401(k), 403(b), and eligible 457(b) plans is unchanged at $19,500. The catch-up contribution limit for those aged 50 or older remains stable at $6,500 ...
On November 6, 2019, the IRS announced in Notice 2019-59 cost of living adjustments to the qualified plan dollar limits for 2020. Below is a summary of the limits that are generally relevant for most retirement plans. Effective January 1, 2020: The elective deferral limit for 401(k), 403(b), and eligible 457(b) plans is increased from $19,000 to $19,500. The catch-up contribution limit for those age 50 or older is increased from $6,000 to $6,500 ...
On March 31, 2020, the IRS issued Form 7200 Advance Payment of Employer Tax Credits Due to COVID-19 and instructions for eligible employers to claim advance payments of refundable payroll tax credits related to COVID-19 ...
On September 18, 2019, California Governor Gavin Newsom approved Assembly Bill 5 (AB 5) to limit the classification of workers as independent contractors in the state. The new law, effective January 1, 2020, will increase payroll tax responsibilities for California companies that must reclassify workers as employees ...
