News & Analysis as of

Compliance Internal Revenue Service

Compliance programs typically refer to formalized institutional procedures within corporations and organizations to detect, prevent and respond to indvidual and widespread instances of regulatory violations. ... more +
Compliance programs typically refer to formalized institutional procedures within corporations and organizations to detect, prevent and respond to indvidual and widespread instances of regulatory violations.  In response to many corporate scandals evidencing rampant unethical business practices, many nations, including the United States, began passing strict regulatory frameworks aimed at curbing these abuses. Notable pieces of legislation in this area include the U.S. Foreign Corrupt Practices Act (FCPA), Sarbanes-Oxley (SOX), and the U.K. Bribery Act, to name a few. The foregoing statutes and the severe penalties often associated with them form the basis of many modern institutional compliance programs. less -
Proskauer Rose LLP

Wealth Management Update - September 2024

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The September 2024 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 4.8%, a decrease from the August 2024 rate of 5.2%. The September applicable federal rate (“AFR”) for use...more

Mitratech Holdings, Inc

What Triggers an I-9 Audit?

The word “audit” can strike fear in the hearts of HR professionals across the country. With increasing fines, an I-9 audit can turn a small mistake into a big cost....more

NAVEX

Whistleblower Awards Keep Adding New Compliance Pressures

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Whistleblower awards from regulatory agencies seldom make news in corporate compliance circles anymore, but two recent items from the world of whistleblower awards do deserve compliance officers’ attention. They’re a reminder...more

Bracewell LLP

Creating an Army of In-House Investigators

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In its never-ending war on corporate fraud, the Department of Justice (“DOJ”) has just commissioned a private army to fight as never before. On August 1, the DOJ launched a three-year program to provide financial rewards to...more

Mintz - Technology, Communications & Media...

Telephone and Texting Compliance News: Regulatory Update — FCC Acts Against Provider Facilitating Tax Robocalls and Initiates...

Federal Communications Commission Takes Further Action Against Provider Facilitating Illegal Tax Robocalls - Following up on its previous enforcement actions, the Federal Communications Commission’s (Commission)...more

Arnall Golden Gregory LLP

Q&A With Allison Raley: Defending Against Government Investigations

Q: What are the primary areas of focus in your practice related to government investigations? A: My practice primarily focuses on defense against enforcement actions brought by regulatory bodies such as the Office of Foreign...more

BakerHostetler

Prevailing Wage and Apprenticeship Requirements - Analysis of the Final Regulations

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As covered in our prior alerts, the Inflation Reduction Act modified and reinstated existing renewable energy credits, enacted new renewable energy credits, and included a mechanism for certain tax credits to increase by a...more

PilieroMazza PLLC

Weekly Update for Government Contractors and Commercial Businesses – June 2024 #4

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Construction Industry Wage-and-Hour Issues: 6 Tips for Laying a Foundation of Compliance - The construction industry feeds a significant part of the U.S. economy, providing millions of short- and long-term jobs across the...more

Allen Barron, Inc.

What is the “Abusive Use of Partnerships” and Why does the IRS Care?

Allen Barron, Inc. on

What is now considered as the “abusive use of partnerships,” and why would this matter to the IRS? The agency recently released IR-2024-166, which is intended to provide “new guidance to stop partnerships from using...more

Proskauer - Employee Benefits & Executive...

A Pop Culture Guide to the Final Amendments to the QPAM Exemption Taking Effect on June 17, 2024

The DOL recently finalized amendments to the QPAM exemption that will considerably alter the exemption’s conditions effective as of June 17, 2024 (for a detailed summary of the changes, please see our post here). There are a...more

Allen Barron, Inc.

When to Consider the IRS Voluntary Disclosure Program or VDP

Allen Barron, Inc. on

Are you wondering when a US taxpayer should consider the IRS Voluntary Disclosure Program or VDP? Are you concerned about unreported or under-reported income, financial accounts, assets, investments, cryptocurrency or...more

Allen Barron, Inc.

IRS Updated Streamlined Filing Compliance Procedures

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What do you need to know about the IRS updated Streamlined Filing Compliance Procedures or "Streamlined Procedures?" Are you concerned about unreported or under-reported offshore income or assets? Are there accounts you...more

Dickinson Wright

The Top Affordable Care Act Reporting Mistakes We Continue to See in 2024

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Nearly once a week, I receive a frantic call or email from a current or potential client who has received a proposed or final assessment from the IRS related to Affordable Care Act (“ACA”) reporting. So-called “Applicable...more

Lathrop GPM

Regulators Examining Interested Party Transactions in Healthcare and in other Nonprofits

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State attorneys general, the IRS, and other regulators are focused on “interested party” (conflict-of-interest) transactions in the healthcare and nonprofit sectors. While these transactions are generally permissible and may...more

NAVEX

The Broader Significance of the DOJ Whistleblower Rewards Program

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The Department of Justice (DOJ) signaled it will soon join the list of government agencies to have implemented a whistleblower rewards program, putting further pressure on companies to have in place an effective compliance...more

Holland & Hart - The Benefits Dial

ERISA, ERISA…Just an Old Sweet Song Keeps ERISA on my Mind

“Georgia” on your mind? As we look towards the upcoming Masters golf tournament weekend, our minds turn to the condition of the greens (exquisite), the players tee off order (does afternoon help or hinder Tiger on an expected...more

Foley & Lardner LLP

Peter Rabbit Discovers Compliance!

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Well, Easter has come, which can only mean that it is time for our spring holiday compliance special! In honor of the season, here are some interesting facts about Beatrix Potter, the author of The Tale of Peter Rabbit: ...more

Kaufman & Canoles

ESOPs & Employee Benefits Q1 2024 Client Update

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On behalf of the ESOPs & Employee Benefits team, we hope you’re enjoying the first days of Spring, when the longer days allow more time to ponder the ever-changing landscape of employee benefits compliance. Please find below...more

Foodman CPAs & Advisors

Jets Corporativos Y El IRS

El 2/21/24, el IRS anunció que comenzará a auditar el uso de aviones corporativos como parte de su esfuerzo más amplio para asegurar que los grupos de altos ingresos “no pasen desapercibidos” en sus responsabilidades...more

Foodman CPAs & Advisors

Corporate Jets And The IRS

On 2/21/24, the IRS announced that it will begin auditing corporate jet usage as part of its larger effort to ensure high-income groups “don’t fly under the radar” on tax responsibilities. IRS Commissioner Danny Werfel...more

Whitman Legal Solutions, LLC

Court Decision Doesn’t Affect Corporate Transparency Act Requirements for Most Companies and Real Estate Investors

On March 1, 2024 a United States District Court in Alabama held in National Small Business United dba National Small Business Association v. Yellen (NSBA Case) that the Corporate Transparency Act (CTA) is unconstitutional. ...more

ArentFox Schiff

Investigations Newsletter: Deputy Attorney General Monaco Warns Industries: “Fraud Using AI is Still Fraud”

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On March 7, Deputy Attorney General Lisa Monaco delivered the keynote remarks at the American Bar Association’s (ABA) 39th National Institute on White Collar Crime. She noted that artificial intelligence (AI) “holds great...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

DOJ Official Cites Old West ‘WANTED’ Posters in Announcement of New Whistleblower Monetary Awards Program

On March 7, 2024, Deputy Attorney General Lisa Monaco said that the U.S. Department of Justice (DOJ) will test out a program to pay whistleblowers if they provide information on serious financial crimes and foreign and...more

ArentFox Schiff

10 Legal Issues for Nonprofit and Association Leadership in 2024

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As 2024 gets underway, the nonprofit sector will continue to face new challenges in addition to grappling with ongoing challenges that continue to impact the sector. Our interdisciplinary team, serving thousands of nonprofits...more

BakerHostetler

Weekly Blockchain Blog - March 2024

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Crypto Exchanges Launch Institutional Platform, LATAM Stablecoin - A major U.S. cryptocurrency exchange recently announced the launch of an institutional platform “aimed at institutions, asset managers, hedge funds and...more

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