The Senate voted 91-4 to extend the highway trust fund authorization through October 29th from its current expiration date of July 31st, 2015 and it is not headed to the President for signature. The bill – H.R. 3236 –...more
With the impending deadline early next year, most applicable large employers are (or should be) in the process of gearing up for what is perhaps the biggest Affordable Care Act (“ACA”) compliance challenge this year — the...more
All Federal PACs are required to submit a campaign finance report to the Federal Election Commission (FEC) on or before Friday, July 31, 2015. Unless the PAC has elected a monthly filing schedule, the semi-annual report must...more
The Federal Housing Administration (FHA) recently announced a proposed rule change that would establish a deadline for lenders to file insurance claims and modify its current policy for reimbursements when foreclosure and...more
All US international authorization holders and US international service providers must file International Traffic and Revenue Reports.
Common carriers and voice over Internet Protocol (VoIP) providers that offer...more
Carriers and providers of interstate and international telecommunications, including, but not limited to, interconnected Voice over Internet Protocol providers, providers offering interstate telecommunications for a fee on a ...more
Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties. To avoid such...more
On July 6, HUD’s Federal Housing Administration (FHA) proposed a rule to establish a maximum time period for FHA-approved lenders to file insurance claims for benefits following the foreclosure of FHA-insured mortgages....more
In April 2015, the U.S. Citizenship and Immigration Services (USCIS) announced that it received enough H-1B petitions to reach the statutory cap of 85,000 total visas for fiscal year 2016, within the first week of the filing...more
With a second court ruling in late June in favor of the U.S. Department of Education, the Gainful Employment Rules ("GE Rules") took effect on July 1, 2015. The GE Rules will, ultimately, provide new challenges to the...more
After almost a year of discourse and revision, New York’s Department of Financial Services’ final “BitLicense” regulation has been published in the New York State Register and an application has been made available. This...more
Filing an amended tax return does not negate the need to file a timely petition for refund with the Pennsylvania Department of Revenue’s Board of Appeals. In a case decided in June, Quest Diagnostics Venture, LLC v....more
It’s official. New York published the final BitLicense in its state register, which launched a 45-day period for businesses to submit a completed application for a License to Engage in Virtual Currency Business Activity. As...more
On June 24, the New York State Register published the Department of Financial Services’ BitLicense framework, requiring companies and individuals who provide virtual currency services involving New York or a New York Resident...more
With the June 30 deadline to file the FBAR form fast approaching, the IRS issued another reminder to taxpayers with bank accounts located outside of the United States. The IRS noted that during 2014, the total number of FBAR...more
The U.S. Bureau of Economic Analysis (BEA) has extended the deadline for first-time filers of BE-10 forms to June 30, 2015. The BEA is willing to consider reasonable requests for extension, provided that the extension...more
Today the Internal Revenue Service issued two public notices reminding taxpayers of their obligations to report foreign assets as the June 30 FBAR deadline fast approaches. Each notice referred to the extensive guidance...more
In order to avoid penalties, companies should be sure to complete mandatory online registrations well in advance of the 6 July deadline.
Companies which operate employee share plans in the UK are required to make a...more
Those individuals who are currently in custody or who are on probation or who have completed a sentence for one of the decriminalized felonies under Proposition 47 need to act soon. The clock is ticking on the filing deadline...more
Can a complaint be “filed” before the “filing process” is completed? Actually, yes, according to Farley v. Koepp, No. 14-1695, a recent decision from the Seventh Circuit written by Judge Sykes.
Here is the scene: Late on...more
New Capital Certificates or certification letters are to be submitted by filing deadlines associated with ranges based on unfunded commitments from Institutional Investors.
On June 4, the U.S. Small Business...more
As I discussed in a prior blog post, if you have more than $10,000 in a foreign bank account, you are obligated to file Form 114 (commonly known as an FBAR). Failure to make this filing can result in significant civil...more
The United States Small Business Administration (SBA) released its annual recertification notice on June 4, 2015. Small Business Investment Company (SBIC) Funds with unfunded commitments from Institutional Investors must...more
While FBAR reporting rules are frequently misunderstood, US persons have several options to correct mistakes, before the government learns of the non-compliance.
June 30th is the annual deadline for filing a Foreign...more
As reported in last week’s edition of Corporate & Financial Weekly Digest and our client advisory, each US person who had a “foreign affiliate” at any time during its 2014 fiscal year is required to file a Form BE-10 report....more
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