News & Analysis as of

Securities Tax Civil Procedure

Read need-to-know updates, commentary, and analysis on Securities issues written by leading professionals.

Financial Services Weekly News - May 2017

by Goodwin on

Editor's Note - In This Issue. The Senate confirmed Jay Clayton as the new chairman of the U.S. Securities and Exchange Commission (SEC), the Federal Deposit Insurance Corporation (FDIC) released its final handbook for...more

Update on Nonqualified Stock Options and Statutory Limitations on Refunds Claims

by Shipman & Goodwin LLP on

In Allen v. Commissioner, 324 Conn. 292 (2016), the Connecticut Supreme Court did not permit a Connecticut taxpayer to seek a refund in connection with a late-filed tax return because the return was filed more than three...more

Tax Court Rules that Extensions of Variable Prepaid Forward Contracts Do Not Result in Taxable Exchanges

by Proskauer - Tax Talks on

Last week, in McKelvey v. Commissioner¸ the U.S. Tax Court held that the extension of a typical variable prepaid forward contract (“VPFC”) did not give rise to a taxable exchange to the obligor because a VPFC is solely an...more

MoFo New York Tax Insights - Volume 8, Issue 3

by Morrison & Foerster LLP on

ALJ Finds CEO Changed Domicile from New York City to Texas - A New York State Administrative Law Judge has held that the CEO of Match.com (“Match”) changed his domicile from New York to Texas for New York State and City...more

Development of Russian court practice on taxation of dividends distributed to a Russian branch of a foreign parent company

by Dentons on

On 4th of October 2016 the Commercial Court of Tambov Region delivered a judgement in case No. ?64-3695/2016 under the claim of “Uvarovsky Sugar Plant” Closed Joint Stock Company (the “Company”)....more

Court Rules Coequal Stockholders Owe Fiduciary Duties To Each Other

by Allen Matkins on

Stockholders in closely held corporations often operate their companies as if they were partnerships. Does that mean that the stockholders, like partners, owe fiduciary duties to each other?...more

IRS Announces Fines Paid to FINRA Are Not Deductible

by Morgan Lewis on

Fines pertaining to violations of federal securities laws and certain FINRA rules may not be deducted. The Internal Revenue Service (IRS) in low-level advice recently announced its position that certain fines paid to...more

Just How Is Basis Acquired After All?

by Bryan Cave on

Dorrance v. U.S., 2015 WL 8241954 (9th Cir. 2015) - This case is the latest in the cases involving tax impact of the sale of stock received by a policy holder from a mutual life insurance company on demutualization, and...more

A Compilation of Non-Enforcement Actions

by Foley & Lardner LLP on

Non-Enforcement - Amendments to the Venture Capital Fund Adviser and Private Fund Adviser Exemptions - Last month the SEC’s Division of Investment Management issued a guidance update (Update) addressing recent...more

Is Your Corporation “Zeroing Out” Income at End of Year Through Bonuses? Watch Out!

by Pessin Katz Law, P.A. on

For the last few years the IRS has warned taxpayers that it would look closely at year-end bonuses that resulted in “zeroing out” taxable income of a corporation by deducting the bonuses as salary rather than a payment of...more

Another ROBS Gone Wrong – IRS Disqualifies ESOP

On November 23, 2015 the U.S. Tax Court issued a declaratory judgment that the Internal Revenue Service (IRS) did not abuse its discretion in issuing a Letter of Revocation of the tax qualified status of the Fleming...more

New York Trial Court Dismisses FCA Tax Case against Vanguard; Determines Relator Violated Confidentiality Provisions of State...

by Dorsey & Whitney LLP on

On November 13, 2015, the New York State Supreme Court dismissed a qui tam action brought under New York State Finance Law §§ 187-194 (“False Claims Act”) against The Vanguard Group Inc., The Vanguard Group of Mutual Funds,...more

$228 Million: The Cost of Independent Contractor Misclassification for FedEx Ground in California

by Pepper Hamilton LLP on

Yesterday, June 12, FedEx announced in papers filed with the SEC that its Ground Division “has reached an agreement in principle with [drivers] in the independent contractor litigation that is pending in …California [federal...more

New York’s Highest Court Considers Constitutionality of Retroactive Taxing Statute

by Hodgson Russ LLP on

Questioning the constitutionality of state personal income tax provisions seems to be all the rage these days. On the heels of the Supreme Court’s decision in Comptroller v. Wynne discussed in our recent blog post, New York’s...more

The New Section 6501(c)(10) Regulations

by McDermott Will & Emery on

The Internal Revenue Service (IRS) and the U.S. Department of the Treasury recently finalized Treas. Reg. § 301.6501(c)-1(g), which interprets § 6501(c)(10)’s extended limitations period (and other associated rules) where a...more

Minority Shareholders Liable as Transferees for Unpaid Corporate Taxes Due to Wrongdoing of Majority Shareholders

by Charles (Chuck) Rubin on

The Tax Court has found two minority shareholders liable to return several million of dividends they received from a corporation when the corporation failed to pay federal income taxes at the direction of majority...more

Court Rejects “Merger Tax” Litigation Settlements That Benefit Primarily Plaintiffs’ Attorneys and Plaintiffs Who Do Not Represent...

It is no secret that when a public company announces a merger, lawsuits follow. There is nothing inherently wrong with this phenomenon. If the merger price is woefully unjustifiable or if shareholders are not given adequate...more

Employer Liable For Reduced Value of Deferred Compensation Benefits Due to Failure to Properly Withhold FICA Taxes

A federal district court recently ruled that an employer who failed to timely withhold Social Security and Medicare taxes (FICA taxes) on nonqualified deferred compensation (NQDC) in accordance with the special timing rule...more

Tax Court Characterizes Technology Executive’s Merger Proceeds as Ordinary Income

by Mintz Levin on

On October 30th, the U.S. Tax Court ruled that a key executive of a technology company acquired by Google for $93 million was required to report a large portion of his merger consideration as ordinary compensation income....more

Former Adjunct Business School Professor, His Firm, the Placement Broker and Its Managing Partner Named in SEC Offering Fraud...

by Dorsey & Whitney LLP on

The Commission instituted administrative proceedings centered on an offering fraud orchestrated by a former adjunct Professor at Columbia Business School who taught, and previously specialized in, turning around troubled...more

September 2014: International Arbitration Update

Avoiding Litigation in the Host State’s Courts in Investor-State Disputes After the Urbaser and Teinver Decisions. Previously, foreign investors whose investments have been damaged by governmental measures of the host...more

Washington Supreme Court Narrows Efficacy of Late Notice Defense

by Carlton Fields on

Even when the claims in a lawsuit arguably fall within the coverage terms of the defendant’s liability insurance policy, the circumstances might suggest facts that would establish a defense to coverage. In that case, the...more

Perspectives - Fall 2012 Volume 3, Edition 2: An Executive Compensation, Benefits & Human Resources Law Update

In this Issue: - Don’t “Moench”ion It: Supreme Court Rejects Presumption of Prudence for ESOP Fiduciaries - Avoiding Claims of Excessive Fund Fees - Risk of ERISA Class Actions Can Be Reduced by Use of...more

The Ropes Recap: Mergers & Acquisition Law News - Second Quarter 2014

by Ropes & Gray LLP on

In this issue: -Delaware Legislative Update -Delaware Supreme Court Upholds Facial Validity of Fee-Shifting Provisions in Bylaws of Delaware Non-Stock Corporation -News from the Courts: -Court...more

Employee Benefits Developments - June 2014

by Hodgson Russ LLP on

In This Issue: - Rulings, Opinions, Etc. ..Validating Rollover Contributions: New Guidance - Case ..Stock Drop Case Development: The Supreme Court Rejects The Presumption Of Prudence ..Dividend...more

48 Results
|
View per page
Page: of 2
Cybersecurity

Follow Securities Updates on:

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.

Feedback? Tell us what you think of the new jdsupra.com!