Compensation

News & Analysis as of

IRS releases updated safe harbors for management contracts in tax-exempt bond-financed projects

On August 22, 2016, the Internal Revenue Service released Revenue Procedure 2016-44. The purpose of this revenue procedure is to provide revised and broader “safe harbors” under which certain private management contracts will...more

New IRS Management Guidance is Flexible, Furthers P3s

State and local governments and 501(c)(3) organizations have been given very flexible guidance by the IRS for longer-term private management of tax-exempt bond financed projects to facilitate general operations and major...more

New Jersey Appellate Court Clarifies Definition of Compensation under Advisers Act

On August 12, 2016, the United States Court of Appeals for the Third Circuit affirmed the decision of the District Court of New Jersey and held in United States v. Everett C. Miller that the defendant was an “investment...more

Reasonable Compensation Issues Remain On the IRS Radar Part II: S-Corporation Concerns

Our May 26, 2016 article, Reasonable Compensation Issues Remain on the IRS Radar ("Part I"), discussed how the IRS scrutinizes the reasonableness of compensation payments made to C-corporation shareholder-employees. As...more

Up We Go Again – Financial Threshold Increases Effective 1 July 2016

Employers should be alert to the threshold changes which come into effect on Friday 1 July 2016 when the 2016/17 financial year commences in Australia. Below we provide a summary of the changes and what they mean in...more

How Gov't Contractors Can Avoid Pay Transparency Mishaps

The final rule implementing Executive Order 13665 (the Pay Transparency Act) went into effect on Jan. 11, 2016. The act prohibits employers from requiring their employees to keep their compensation confidential. Under the new...more

Blog: Supreme Court Considers Compensation Under The Riot Act

In The Mayor’s Office for Policing and Crime v Mitsui Sumitomo Insurance Co (Europe) Ltd & Ord [2016] UKSC 18, the Supreme Court ruled on the quantification of compensation available to insurers under the Riot Act 1886,...more

Contracts and Unfair Trade Practices, Redux

A recent decision by the North Carolina Business Court underscores the challenges faced by a party who tries to convert a breach of contract into a violation of N.C. Gen. Stat. § 75-1.1. A breach of contract alone, even...more

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

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

U.S. Department of Labor Finalizes Fiduciary Definition and Conflict of Interest Rule

On April 6, 2015, the U.S. Department of Labor (Department) issued its highly anticipated final rule addressing when a person is considered to be a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA)...more

Post-Friedrichs, The Agency Fee Ground Is Still Shaking Mightily, But For A Different Reason

Agency fee contract provisions in collective bargaining agreements that require public sector bargaining unit employees, as a condition of employment, to pay the union for the cost of contract administration, grievance...more

New Tribunal Compensation Limits 2016

The annual increases in compensation will take effect on 6 April 2016. The most notable changes are as follows: - The limit on a week’s pay for the purposes of calculating statutory redundancy payments and the basic...more

Increase in UK Employment Compensation Limits

The maximum compensation that the Employment Tribunal can award for “ordinary” unfair dismissal claims will increase from 6 April 2016, as will the weekly wage figure for calculating an employee's entitlement to a statutory...more

Court Of Chancery Limits Attorney Charging Lien

An “attorney charging lien” allows an attorney to recover compensation for his services from a fund recovered with his assistance....more

Construction Corner: Construction Contract Basics

In a previous Construction Corner Post we discussed the primary elements of a design contract for a school construction project. In this post we will describe the basic elements of a construction contract for a school...more

OIG issues report on CFPB civil penalty fund victim identification process

The Office of Inspector General for the Fed and CFPB has issued a report on the results of its audit of the CFPB’s process for identifying victims eligible to receive compensation from the Consumer Financial Civil Penalty...more

Pay-to-Play: FINRA Requests SEC Approval of Proposal to Regulate Political Contributions

The Securities and Exchange Commission (“SEC”) recently published for comments rules proposed by the Financial Industry Regulatory Authority, Inc. (“FINRA”) and the Municipal Securities Rulemaking Board (“MSRB”) to regulate...more

How Much Do You Make? – New OFCCP Regulations Protect Employee And Job Applicant Discussions on Compensation

Happy New Year from your friends at the OFCCP. This week brings the enforcement of requirements stated under Executive Order 13665, which prohibits federal contractors from discriminating or otherwise conducting adverse...more

New Jersey Supreme Court Establishes Test for Compensation Disgorgement When Employee Breaches Duty of Loyalty

The New Jersey Supreme Court has held that a court may order the disgorgement of an employee's compensation when the employee has breached his or her duty of loyalty to the employer—even if the employer has not sustained...more

Fenwick Employment Brief

Bag Checks for Apple Employees Not Compensable Time - Apple Inc. recently convinced a California federal district court to dismiss a certified class action alleging that Apple had a legal duty to pay store workers for...more

Commonwealth a step closer to compensation for delayed PBS price drops

The Full Federal Court has held that the Therapeutic Goods Act 1989 (Cth) (TG Act) does not limit the Commonwealth’s ability to seek compensation for losses arising from the operation of an interlocutory injunction...more

A Couple Of Points About Receiverships

There's a lot to wonder about receiverships. Like, how is the Receiver's compensation calculated? And does it make a difference to compensation if a corporate shareholder says the receivership was unnecessary, and that it...more

Proposed rules under section 707 governing disguised compensation for services

The proposed Department of Treasury regulations under IRC section 707(a)(2)(A) set forth standards to determine when a payment arrangement to a partner shall be treated as disguised compensation. Section 707(a) generally...more

OFCCP Issues Final Rule Prohibiting Pay Secrecy Policies and Actions By Federal Contractors

The Office of Federal Contract Compliance Programs (“OFCCP”) issued its Final Rule last week implementing Executive Order 13665 (entitled Non-Retaliation for Disclosure of Compensation Information). Executive Order 13665...more

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