News & Analysis as of

Audits

Nemo Est Supra Leges

by Womble Bond Dickinson on

This past week’s U.S. Immigration and Customs Enforcement nationwide I-9 Employment Eligibility Verification Audit of 7-Eleven stores reminds us that no one is above the law. In the early morning hours of January 10, 2018,...more

New Partnership Audit Regulations Released as Permitting Push-Out Election Through Tiered Partnerships

by Ropes & Gray LLP on

In a trilogy of releases in the last six weeks, the Department of Treasury (“Treasury”) provided much-needed guidance on the implementation of the partnership audit rules in the Bipartisan Budget Act of 2015 (the “BBA...more

Five Immigration To-Do’s for Employers in 2018

by Davis Wright Tremaine LLP on

The White House and Department of Homeland Security have announced plans to change the legal immigration system in ways that could significantly impact employers with foreign workers who are managers, executives,...more

Has Your Partnership or LLC Agreement Been Updated to Comply with the New Tax Rules?

The new partnership audit rules substantially change the audit procedures for partnerships (including multi-member LLCs) and may require that you update certain provisions within your partnership or LLC agreement to maintain...more

IRS Issues Final Regulations For Electing Out Of Centralized Partnership Audit Regime

The IRS has issued final regulations under IRC § 6221(b), implementing rules for electing out of the new centralized partnership audit regime enacted under the Bipartisan Budget Act of 2015. The final regulations under IRC §...more

Do You Want to See the Report That an OFCCP Compliance Officer Must Complete on Your Audit Before It Can Be Closed?

In order to close an Office of Federal Contract Compliance Programs (OFCCP) evaluation, a compliance officer (CO) must complete the Standard Compliance Evaluation Report (SCER) Form. The SCER is an internal OFCCP document...more

Immigration Update - I-9 Audits and Even ICE Site Visits Return with a Vengeance

by Poyner Spruill LLP on

Acting ICE Director Thomas Homan: “ [Our] clear message to employers who scheme to hire and retain a workforce of illegal immigrants: we will find you and hold you accountable”...more

Nationwide 7-Eleven Immigration Raids Herald New Worksite Enforcement Strategy

by Fisher Phillips on

Slurpees are not the only ICE-y things being served at 7-Eleven these days. For the second time in five years, Immigrations and Customs Enforcement (ICE) raided dozens of 7-Eleven stores across the country in search of...more

Breaking News: Immigration Agents Raid Over 100 7-Eleven Stores, Warning All U.S. Employers to Prepare for Random Immigration...

Hundreds of Immigration & Customs Enforcement (ICE) agents walked into over 100 7-Eleven stores throughout Los Angeles—without any notice or warning. No, the ICE agents were not buying the famous 7-Eleven Slurpee; rather,...more

Time to Test and Audit Your Compliance Program

by Michael Volkov on

We all enjoy citing government sources for guidance on an effective ethics and compliance program. Whether it is the United States Sentencing Guidelines, the Justice Department’s and SEC’s FCPA Guidance, Health and Human...more

Five Major Compliance Predictions for 2018

by Michael Volkov on

When you look back on the rise of the ethics and compliance profession, you cannot ignore the history of accomplishments. It is easy to minimize these accomplishments as a reaction to the government’s aggressive FCPA...more

CAQ Releases New Tool to Assist Audit Committees with New Auditor’s Reporting Model

by WilmerHale on

In December, the Center for Audit Quality released The Auditor’s Report: Considerations for Audit Committees. The new tool is designed to assist audit committees navigate the new auditor’s reporting model by summarizing the...more

New Partnership Audit Rules

New rules that change the way that partnership entities are audited took effect on January 1, 2018. Partnership entities include all entities that are taxed as partnerships under federal tax law, including traditional...more

Regulators Focus on Audit Quality, New Accounting Standards and Other Developments at 2017 AICPA Conference

by WilmerHale on

Always a fertile source of guidance, this year’s American Institute of Certified Public Accountants Conference on Current SEC and PCAOB Developments, held on December 4-6, was no exception. Discussions during this year’s...more

Immigration in 2018: Unknowns…

One thing is known about immigration law in 2018: it will bring many unknowns. Since the current administration assumed power in January of 2017, we have reported countless (nearly daily) changes to immigration policies, from...more

New Year Brings Major Changes To California Employers’ Immigration Practices - FAQs Regarding California AB450 – The Immigrant...

by Fisher Phillips on

Soon after ringing in the New Year, California employers will need to spend the beginning of 2018 coming to grips with a significant new law that will require an immediate adjustment to immigration-related business practices....more

SEC Issues Staff Guidance on Tax Act’s Accounting Impact

The SEC staff released the following statement on December 22, 2017. We will monitor this guidance and provide any relevant updates. The Securities and Exchange Commission today announced publication of staff guidance for...more

A Deeper Dive Into Oregon’s Landmark Pay Equity Law

by Fisher Phillips on

Six months ago, the Oregon legislature passed the most sweeping statewide equal pay law in the nation. It was a confusing move for some. After all, Oregon has had an equal pay law on the books since the early 1980s, while the...more

Worksite Enforcement Check Up: Get Ready for 2018

by McNair Law Firm, P.A. on

E-Verify undergoes an early ‘spring cleaning’ each year when USCIS disposes of E-Verify records more than 10 years old. E-Verify users who have been using the online employment verification system for 10 years or more should...more

New Year’s Resolutions: Top 5 Consequential Changes in the 2018 NDAA

by Blank Rome LLP on

The National Defense Authorization Act (“NDAA”) for Fiscal Year 2018 was signed into law on December 12, 2017, and authorizes a topline national defense budget of $700 billion. While the 2018 NDAA makes a number of changes to...more

New IRS Partnership Audit Rules Take Effect Jan 1: What You Need to Know

On January 1, 2018, the rules and procedures relating to IRS audits of partnerships, including those limited liability companies taxed as partnerships, (for purposes here, collectively, the “Partnerships”) will change. The...more

Third Circuit Addresses Preemption By Federal Common Law

The states employ unclaimed property laws (also referred to as escheat laws) to determine if property owned by one person but that is in the possession of another person is subject to the state’s control after the period of...more

More Than Mere Loose Ends: Immigration Compliance During Mergers and Acquisitions

by Vedder Price on

Mergers and acquisitions are often complex transactions involving numerous parties and myriad moving parts. While the parties are understandably focused primarily on the economic aspects of the deal, immigration compliance is...more

Newly Proposed Partnership Audit Rules Allow for Multiple-Tier “Push-Out” Election

by Dechert LLP on

The U.S. Department of the Treasury (the “Treasury”) and the U.S. Internal Revenue Service (the “IRS”) have issued a new installment of proposed regulations under the centralized partnership audit regime included in the...more

New IRS Audit Rules To Impact Partnerships (LLCs) In 2018

For tax years beginning after December 31, 2017, a new centralized audit regime for partnerships and LLCs will take effect. Currently, audit adjustments made by the Internal Revenue Service for partnerships (LLCs) are made at...more

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