Blecker: GM Recalls Show Need for Harsher Penalties for "Red Collar" Criminals
What Are the Drastic Ramifications of the New York State Anti-Money Laundering Actions and Penalty Enforcement?
Lessons Learned from the Parker Drilling DPA and Ralph Lauren NPA
The New Normal: Taking Responsibility for Your Vendors
Lessons Learned from the BizJet Executives FCPA Enforcement Actions
Crystal Ball Perspective: Will Healthcare Reform be Repealed if Romney Wins the Presidential Election?
In conflicting opinions released on July 22nd, two federal circuits split on whether Affordable Care Act subsidies are available under a federally operated health insurance exchange. “Pay or play” penalties apply only if...more
Entering into new, international markets may be good for developing business, but it also carries certain risks. This is particularly true in many countries where doing business may include making gifts, paying gratuities and...more
One thing the SEC likes to do is bring cases with a lot of deterrent value. That is, cases that it hopes will scare other people and companies into complying with the law. Often that means cases with large price tags...more
As you may have read, the Internal Revenue Service (“IRS”) recently announced changes to its offshore voluntary disclosure programs and announced new options for taxpayers to come into compliance with their U.S. tax...more
General contractors and their sureties on public works construction projects in California have faced an onslaught of claims, assessments, and lawsuits based on the failure of subcontractors, regardless of tier, to pay their...more
We frequently discuss enforcement actions in this blog, because understanding enforcement is a key aspect of trade compliance. From a fifty-thousand foot view, each enforcement case serves as a cautionary tale about the...more
What do a moving company and a hospital association have in common? The False Claims Act (FCA).
The American Hospital Association along with the United States Chamber of Commerce and the Pharmaceutical Research and...more
Global antitrust regulators are on pace to levy record-breaking cartel penalties in 2014. If global regulators keep pace, cartel penalties will surpass 2013’s record total. Through June, U.S. antitrust regulators issued...more
July 1, 2014 (Mimesis Law) -- Robert Blecker, professor of law at New York Law School, talks with Lee Pacchia about the recently released internal investigation into the failure to report a problem with ignition switches on...more
While much about the Zwerner case (U.S. v. Zwerner, Case No. 13-22082-CIV, So. Dist. Fl.) has been discussed regarding the FBAR penalties, there has not been much attention paid to the 6% late payment penalty and interest...more
In a major change to the Offshore Voluntary Disclosure Program, the streamlined filing compliance procedures with their 5% penalty, has been opened up to non-willful violators that reside in the U.S. This is to be contrasted...more
On June 5, the Treasury Department’s Office of Foreign Assets Controls (OFAC) announced a Dutch aerospace firm has agreed to pay $21 million to resolve allegations that the company violated U.S. sanctions on Iran and Sudan....more
On Wednesday, May 28, 2014, a jury in Miami issued a verdict against a taxpayer for $2.2 million in fees, interest, and civil penalties for willfully failing to file foreign bank account reports (FBARs) for his Swiss bank...more
You probably didn’t think Florida’s Halifax Health could make its situation any worse. After all, only two months ago Halifax agreed to pay $85 million to settle just the first half of a Medicare fraud case. That still...more
Before the ink on the Affordable Care Act was dry, prudent employers were analyzing the law to identify ways to save money and avoid many of the punitive aspects of the law....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 and excise taxes. To...more
The California Labor Code is full of potential penalties for the unwary employer. The penalties arguably exist to ensure compliance by unscrupulous employers but often the penalties result in a windfall to employees for an...more
Executive Summary: The D.C. Council is seeking to amend the D.C. Wage Theft Prevention Act less than one year after the last amendment. If passed, the amended law would substantially increase penalties...more
Recently revised guidance issued by the Pennsylvania Department of Environmental Protection (the Department or DEP) concerning use of community environmental projects (CEPs) in lieu of civil penalties warrant the attention...more
Most contractors know that they need a license prior to execution of a construction contract. But in many states, the time to obtain a license begins long before execution. In Florida, for example, not only must a contractor...more
A district court in the Northern District of California has held that the officer of a now-defunct corporation is personally responsible for the Trust Fund Recovery Penalty based upon the company’s failure to collect, account...more
The first installment payment for the new San Francisco Gross Receipts Tax was due April 30, 2014. Many questions about the new tax remain. While the City has provided some relief from installment underpayment penalties,...more
One of the laws that was passed in California in 2013 that did not receive much media attention was Assembly Bill 1386. AB 1386 amended Labor Code section 98.2 to give the Labor Commissioner additional means to collect wages...more
In Nate Holyoke Builders, Inc. et al. v. WCB AIU, WCB App. Div. No. 14-11 (April 24, 2014), the employer appealed a decision imposing a $30,000 penalty for misclassification of nine employees as independent contractors. The...more
The IRS recently released an FBAR Reference Guide, pertinent portions of which are reprinted below.
Who Must File the FBAR?
A United States person must file an FBAR if that person has a financial interest in or...more
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