Retroactive Application

Legal Alert: Court Rejects Retroactivity of Dodd–Frank's Whistleblower Remedies

by Thomas Bundy, III, Cynthia M. Krus, Allegra Lawrence-Hardy, Lee Peifer, Holly H. Smith, Lewis Wiener | Sutherland Asbill & Brennan LLP on 4/18/2013

Since the 2010 enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act, a recurring question in judicial opinions interpreting the Act’s whistleblower provisions has been whether these provisions should be...more

Guilty Plea Means Deportation, Says Supreme Court

by Michele Bowman | Lawyers.com on 2/26/2013

The U.S. Supreme Court on Feb. 20 held that one of its 2010 rulings – that under the Sixth Amendment, criminal defense attorneys must warn their clients that guilty pleas can result in deportation – does not apply...more

The State Of California Seeks Back Taxes From Small-Business Shareholder- Not So Fast

by Anthony Diosdi | Moskowitz LLP on 2/14/2013

A closer look at federal constitutional case law would seem to indicate that the State of California may not find it so easy to seek refunds plus interest after all....more

California’s Attempt to Retroactively Tax its Residents

by Marty Dakessian, Kyle O. Sollie | Reed Smith on 2/12/2013

In Cutler v. Franchise Tax Board, a case litigated by Reed Smith, a California Court of Appeal held that the California property and payroll requirements of California’s Qualified Small Business Stock provisions were invalid....more

Tax Alert: FTB Disallows California Qualified Small Business Stock Benefits

by Adam Halpern, Andrew Kim, Ronald Schrotenboer | Fenwick & West LLP on 2/5/2013

The California Franchise Tax Board (FTB) recently issued FTB Notice 2012-03, stating that the FTB will disallow the exclusion or deferral of gain under California's qualified small business stock (QSBS) statute for all tax...more

Congress Extends 100% Exclusion For Gains From Sales Of Qualified Small Business Stock

by Orrick, Herrington & Sutcliffe LLP on 1/28/2013

As a pleasant surprise to many investors, the recently enacted American Taxpayer Relief Act of 2012 (the “Act”) extends the 100% exclusion for gains from sales of Qualified Small Business Stock (“QSB Stock”) to QSB Stock...more

Payment Matters: Court Rules That Medicare DSH Statute Means What It Says

by Thomas W. Coons | Ober|Kaler on 1/25/2013

In recent times, the provider community has enjoyed success in challenging the Secretary’s interpretation of the Medicare disproportionate share hospital (DSH) adjustment provisions and what, the providers have maintained,...more

ESMA Provides Confirmation, Relief For Fears Of Front-Margin For Swaps

by Felix Shipkevich | Shipkevich PLLC on 1/25/2013

The European Securities and Markets Authority (ESMA) has said that a new regulatory regime will not impose swaps margin requirements retroactively. The prospect of changing margin costs for enduring trades came to be know...more

IRS Provides Administrative Guidance On Excludable Transportation Benefit Limits, Retroactively Increased As Of January 1, 2012

by Randall I. Cherkas, Michael Kadlec, Andrew J. Rudolph | Pepper Hamilton LLP on 1/25/2013

On January 16, 2013, the Internal Revenue Service (IRS) issued Notice 2013-8 providing a special administrative procedure for employers with respect to 2012 transit benefits. Under Section 132(f) of the Internal Revenue Code...more

Employers Can Obtain Refund for Excess FICA Tax Paid as Result of Increased Excludable Limit for Transit Benefits

by Maureen O'Brien, Ruth Wimer | McDermott Will & Emery on 1/23/2013

On January 11, 2013, the Internal Revenue Service published Notice 2013-8 providing a special administrative procedure for employers with respect to 2012 transit pass benefits. The American Taxpayer Relief Act retroactively...more

IRS Guidance to Implement Retroactive Increase in 2012 Mass Transit Benefit Limits—January 31 Deadline

by Vicki M. Nielsen | Ogletree, Deakins, Nash, Smoak & Stewart,... on 1/18/2013

On January 16 the Internal Revenue Service (IRS) issued guidance on the application of the retroactive increase in excludible transit benefits, as enacted under the American Taxpayer Relief Act of 2012 (ATRA). IRS Notice...more

Legal Alert: Correcting 2012 Withholding Errors

by Jeffrey S. Ashendorf | FordHarrison on 1/18/2013

One of the changes made by the American Taxpayer Relief Act ("ATRA") was to restore the $240 monthly limit on employer-provided transit passes or commuting transportation, which had reverted to $125 as of January 1, 2012. ...more

FTB Retroactively Denies "Qualified Small Business Stock" Personal Income Tax Benefits

by David Herbst, Matthew Portnoff | Manatt, Phelps & Phillips, LLP on 1/9/2013

On December 21, 2012, the Franchise Tax Board ("FTB") released Notice 2012-03 (the "FTB Notice"), which notice outlines the procedures the FTB will apply in response to the Court of Appeal's recent decision in Cutler v....more

Under Construction - December 2012

by Wade R. Budge, Stuart J. Einbinder, Richard G. Erickson, Joshua Grabel, Jennifer R. Phillips, Nora R. Pincus, Scott C. Sandberg, James J. Sienicki, Jeffrey M. Singletary, Nicole Sornsin | Snell & Wilmer L.L.P. on 12/31/2012

In This Issue: Letter from the Editor; Colorado Construction Law Developments in 2012; Arizona Court of Appeals Issues Decision Related to the Application of the Statute of Repose and Economic Loss Doctrine for...more

FTB issues Notice to Retroactively Deny "Qualified Small Business Stock" Tax Benefits. Amended Returns Should be Filed.

by Matthew Richardson | Sheppard Mullin Richter & Hampton LLP on 12/28/2012

A California appellate court recently held as unconstitutional the California statutes extending the benefits of selling “qualified small business stock” (QSBS) to California taxpayers. In Cutler v. Franchise Tax Board (2012)...more

2012 Year In Review – Part 1

by Peter M. Friedman, Douglas Mintz, Joseph Zujkowski | Cadwalader - Financial Restructuring on 12/24/2012

In This Issue: - March 9, 2012: Publication of Dynegy Examiner’s Report - March 29, 2012: SDNY Rules That 363 Sales May Not Be Free and Clear of Future Claims - May 15, 2102: Eleventh Circuit Rules in...more

Colorado Construction Law Developments in 2012

by Scott C. Sandberg | Snell & Wilmer L.L.P. on 12/20/2012

While Colorado’s General Assembly passed no significant legislation affecting construction law in 2012, the Colorado Court of Appeals handed down a number of significant rulings....more

Law That Allows Taxpayer To Defer Capital Gains On Sale Of Small Business Stock With The Subsequent Purchase Of Stock In...

by Kronick, Moskovitz, Tiedemann & Girard on 9/11/2012

A court of appeal recently found unconstitutional a Revenue and Taxation Code provision that allows a taxpayer to defer capital gains when he or she sells stock in a qualified small business if the taxpayer uses the gain to...more

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