On October 11, 2022, the United States Department of Labor (DOL) issued its Notice of Proposed Rulemaking (NPRM) seeking to undo the Trump administration’s 2021 independent contractor regulations and revert to the six-factor economic realities test.
Since 2017, the Washington Tax Structure Work Group (TSWG)—a group of bipartisan Washington legislators, representatives from the Governor’s office, the Washington Department of Revenue, Washington State Association of Counties, and Association of Washington Cities—has been tasked with reviewing Washington’s tax structure.
On January 13, 2023, the Internal Revenue Service (IRS) released a memorandum (CCA 202302012) concluding that a qualified appraisal is required when a taxpayer claims a charitable contribution deduction exceeding $5,000 for donated cryptocurrency.
The Foreign Investment in Real Property Tax Act of 1980, as amended (FIRPTA), imposes tax on gain realized on disposition by nonresident alien individuals or foreign corporations (non-U.S. persons) of a U.S. real property interest (USRPI) by treating such gain as effectively connected with the conduct of a U.S. trade or business by such non-U.S. persons (effectively connected income, or ECI).
2023 is expected to be a stronger transaction market than the past few years for mergers, acquisitions, and majority and minority investments.
On Dec. 30, 2022, the IRS issued Notice 2023-11, which provides temporary relief for certain foreign financial institutions (FFIs) required to report U.S. taxpayer identification numbers (U.S. TINs) under the Foreign Account Compliance Act (FATCA).
The US Congress recently passed the SECURE 2.0 Act of 2022 (SECURE 2.0).
Each year the Alcohol and Tobacco Tax and Trade Bureau (TTB) issues “Industry Circulars” that apply statutory or regulatory requirements to a “specific circumstance or set of facts” or restate existing requirements.
Due to the uptick in alcohol advertisement on social media platforms, the Alcohol and Tobacco Tax and Trade Bureau (TTB) issued guidance on advertising via social media and how TTB’s rules on advertising generally apply in this new and important context, as summarized below.
In the Alcohol and Tobacco Tax and Trade Bureau’s (TTB) final Industry Circular of the year, they provided DSPs guidance on how to calculate effective tax rates for distilled spirits products eligible for the Craft Beverage Modernization Act (CBMA) reduced tax rates, as well as providing importers with guidance on calculating and using effective tax rates or standard effective tax rates (SETRs) for imported products that are eligible for CBMA tax benefits.
On December 16, 2022, a federal district judge in California denied artist Ryder Ripps’s and his partner’s anti-SLAPP motion and motion to dismiss in a closely monitored action filed against them by Yuga Labs, Inc. (“Yuga”), the creator behind the monumentally successful Bored Ape Yacht Club (“BAYC”) NFTs.
If your New Year’s resolution is fitness-related, we’re on the same page … or hamster wheel.
Even with the strictest compliance with Occupational Safety and Health Administration (OSHA) regulations and best workplace safety practices, on-the-job injuries from time to time are inevitable in the construction industry.
The Equal Employment Opportunity Commission (EEOC) promised in a March 2022 hearing to address what it considered to be “severe and pervasive” discrimination in the construction sector.
On December 2, 2022, President Joseph Biden signed the Medical Marijuana and Cannabidiol Research Expansion Act (Cannabis Research Act), which provides a mechanism for industry and academia to access and research cannabis, including marijuana and other cannabis-derived products without violating the Controlled Substances Act (CSA).
Section 204 of Title II of Division BB of the Consolidated Appropriations Act, 2021 amended the Internal Revenue Code, the Employee Retirement Income Security Act of 1974 and the Public Health Service Act to add rules governing prescription drug data collection (RxDC).
From changing regulatory to employment issues, get practice advisories designed just for In-House Counsel. Subscribe for free.Subscribe Now
Unlock even more great content and insights by subscribing now. It's Free!Sign Up
Already have an account? Sign In.