On October 11, 2022, the Internal Revenue Service (IRS) announced draft changes to Schedule UTP, Uncertain Tax Position Return Statement, and Form 1120, Instructions for Schedule UTP, for the 2022 tax year (processing year 2023).
Former Lord Chancellor Sir Robert Buckland KC MP has reportedly hinted that new corporate ‘failure to prevent’ offences may be added to the Economic Crime and Corporate Transparency Bill (the Bill) that is currently making its way through Parliament.
On September 30, 2022, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury adopted its final rule implementing the beneficial ownership reporting requirements of the Corporate Transparency Act (Act).
In the latest turn of events for the closely followed Jarrett case concerning the taxation of staking rewards, on September 30, 2022, the US District Court for the Middle District of Tennessee granted the United States’ motion to dismiss.
The Italian government’s intervention powers concerning private investment in companies of strategic national importance (“Golden Powers”) – established by Law Decree 21/2012 – have been significantly expanded since 2020, following the crisis caused by the COVID-19 pandemic (see our April 2020 GT Alert and May 2021 GT Alert).
EU law requires certain large companies to disclose non-financial information on the way they operate and manage social and environmental challenges.
On Budget Day, 20 September 2022 (Prinsjesdag), the Dutch Ministry of Finance presented its 2023 tax plan (the Proposal). For the proposed bills discussed in this GT Alert to have effect, Parliament first must approve them.
On September 15, 2022, US President Joe Biden signed an Executive Order (EO) aimed at increasing the federal government’s review of foreign investment in US businesses deemed critical to US national security interests.
On August 25, 2022, the US Securities and Exchange Commission (SEC) adopted final rules to implement the pay versus performance disclosure requirement mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
The regulations implementing the CCPA require that a business verify the identity of a consumer that submits a specific-information access request to a “reasonably high degree of certainty.”
The Financial Industry Regulatory Authority (FINRA) in November 2022 released a targeted exam letter pertaining to communications for crypto products and services.
It has been a long and heated debate as to whether NFTs and certain cryptocurrencies can be deemed as securities under applicable laws and precedents.
In a prior post, we wrote about the importance of reviewing the terms governing the sale of an NFT to determine what rights, if any, are included in the sale in order to commercially exploit the asset associated with the NFT, and the confusion that emerges in interpreting such terms through the lens of copyright law.
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