Document(s) published by this organization: 24
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|Office of Government Ethics Revises Executive Branch Gift Rules|
Bryson B. Morgan, Trevor Potter, Matthew T. Sanderson; Caplin & Drysdale, Chartered;
November 23, 2016, previously published on November 18, 2016Effective January 1, 2017, the Office of Government Ethics (OGE) is revising the gift rules applicable to executive branch employees. The revisions were prompted by the Ethics in Government Act of 1978, which requires OGE to periodically update its regulations. For the most part, the revisions are...
|Captive Insurance: New IRS Tax Reporting Regime Potential for Penalties and Examinations|
Mark D. Allison, Rachel Leigh Partain, Christopher S. Rizek, Charles M. Ruchelman; Caplin & Drysdale, Chartered;
November 9, 2016, previously published on November 3, 2016On November 1, 2016, the Internal Revenue Service (“IRS”) issued Notice 2016-66 identifying certain transactions relating to small captive insurance companies as a “transaction of interest.” Prior to this notice, the IRS had identified certain small captives as amongst its...
|New Regulations Change Allocation of Partnership Liabilities|
Jonathan S. Brenner, Elizabeth J. Stevens; Caplin & Drysdale, Chartered;
November 9, 2016, previously published on October 24, 2016On October 4, 2016, the Treasury Department and Internal Revenue Service (IRS) issued revised regulations governing how recourse partnership liabilities are allocated among partners. These temporary regulations, which are binding on taxpayers immediately, relate to so-called “bottom-dollar...
|Chapter 15 at 11: Bankruptcy Code's Cross-Border Insolvency Law Approaches 11th Anniversary|
Jeffrey A. Liesemer; Caplin & Drysdale, Chartered;
October 5, 2016, previously published on September 30, 2016Chapter 15 of the Bankruptcy Code, which deals with cross-border insolvency cases, took effect nearly 11 years ago.(1) Congress enacted Chapter 15 in 2005 to replace Bankruptcy Code Section 304, which previously addressed transnational insolvencies.(2) Chapter 15 largely incorporates the United...
|IRS Issues First Partnership Audit Regulations|
Charles M. Ruchelman; Caplin & Drysdale, Chartered;
August 23, 2016, previously published on August 8, 2016On August 4, 2016, the Treasury Department issued its first temporary regulations under the new partnership audit and collection regime found in the Bipartisan Budget Act of 2015 (“BBA”). For partnership tax procedure practitioners, the regulations are interesting reading. The new...
|Delaware Bankruptcy Court Reaffirms the Viability of Class Proofs of Claim in PacSun Bankruptcy|
Kevin C. Maclay, Todd E. Phillips, Sally J. Sullivan; Caplin & Drysdale, Chartered;
August 1, 2016, previously published on July 18, 2016On June 22, 2016, the Bankruptcy Court for the District of Delaware allowed a putative creditor class to file a class proof of claim in the In re Pacific Sunwear of California, Inc., et al., bankruptcy proceedings.1 In granting the motion, the bankruptcy court applied its discretion to certify a...
|The Proposed 457 Regulations: Bona Fide Severance Pay Plan and Substantial Risk of Forfeiture|
Joanne C. Youn; Caplin & Drysdale, Chartered;
July 28, 2016, previously published on July 11, 2016Last month, the IRS issued comprehensive proposed regulations which mark the first official guidance since IRS Notice 2007-62 on the application of Code section 457 to certain deferred compensation plans of state and local governments and tax-exempt entities (the “Proposed...
|New York Passes New Legislation Affecting Political Activity at the Local and State Level|
Trevor Potter, Matthew T. Sanderson, Douglas N. Varley; Caplin & Drysdale, Chartered;
July 27, 2016, previously published on July 5, 2016Governor Andrew Cuomo is expected to sign newly passed legislation that could dramatically alter the disclosure obligations of some entities and individuals who engage in state- and local-level political activity in the State of New York. This reform measure’s principal elements do the...
|Recent Litigation Addresses the Benefit Plans of Religious Organizations|
Joanne C. Youn; Caplin & Drysdale, Chartered;
July 12, 2016, previously published on June 13, 2016The retirement and health plans of churches and certain other religious organizations are entitled to specific exemptions under federal benefits laws. These include an exemption from the fiduciary, funding, and other requirements of the Employee Retirement Income Security Act of 1974...
|The Panama Papers and the U.S. Response: New Risks for Financial Institutions, Clients and Advisors|
Mark E. Matthews, Scott D. Michel, Cono R. Namorato; Caplin & Drysdale, Chartered;
May 18, 2016, previously published on May 18, 2016The massive Panama Papers leak from the law firm Mossack Fonseca has exposed a variety of suspicious and possibly illegal activity and drawn the attention of tax enforcement authorities and investigators worldwide. On May 9, 2016, the International Consortium of Investigative Journalists (ICIJ),...