Liability Issues for Open Businesses During the Crisis
The Virginia Department of Taxation released its 2024 legislative summary detailing changes, effective July 1, 2024, to Virginia’s state and local tax laws. The following discussion focuses on a few of the changes you may...more
Effective October 20, 2024, New York hospitals must have in place State-mandated changes to their financial assistance (“FA”) programs (including FA eligibility criteria and debt collection practices) and their practices...more
The IRS expects to send out over 125,000 collection letters to high-income taxpayers who did not file one or more federal income tax returns between 2017 and 2021. As part of the new collection initiative, approximately...more
The US Department of the Treasury has recently reinforced the progress on enforcement, specifically how the IRS is focused on tax evasion targeting and the targeting of high-income individuals and entities. The IRS has...more
As looming collection action efforts against delinquent taxpayers intensifies, the Internal Revenue Service is attempting to increase voluntary compliance and payment for outstanding liabilities. The IRS announced automatic...more
Avisos de Cobros del IRS se reiniciarán en 2024 así como un nuevo alivio de multas para aproximadamente 4.7 millones de personas, empresas y organizaciones exentas de impuestos a las que no se les envió un recordatorio...more
On 12/19/23, the IRS announced the restart of IRS collection notices as well as a new penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent an automated IRS...more
Beginning on January 1, 2024, the IRS will resume automated collection notices for all tax years. Individuals, businesses, trusts, estates, and tax-exempt organizations may be eligible for penalty relief for tax years 2020...more
Before responding to a creditor’s citation to discover assets ("CDA"), financial institutions should consider whether the court presiding over the judgment can lawfully direct them to act against a debtor's accounts. Even if...more
The IRS Independent Office of Appeals (“IRS Appeals”) was established to provide an “independent” IRS function that is separate and independent from the IRS’s compliance functions that maintain responsibility for collecting...more
The answer to the question “Can the IRS Collect Assets Abroad”” is yes, based on the Office of Chief Counsel Internal Revenue Service memorandum dated February 24, 2022. The memorandum discusses the IRS Collection Procedures...more
Effective July 1, 2022, the New Jersey Supreme Court has increased the jurisdictional limits in civil courts. The New Jersey Special Civil Part jurisdictional limit has increased from $15,000 to $20,000....more
A party claiming that its opponent waived their right to compel arbitration by participating in litigation cannot be required to show prejudice, the U.S. Supreme Court ruled on May 23, 2022 in a unanimous opinion written by...more
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 4, 2021 – October 8, 2021... October 4, 2021: The IRS released a practice unit,...more
In response to the increased use and enforcement of class and collective action waivers, plaintiffs’ attorneys are now relying on a new strategy to gain leverage over businesses. More specifically, they have started to...more
A closely held business may come to our firm for any number of reasons. The owners may be selling the business, for example, or they may be thinking about spinning off a division. In some cases, the owners are considering the...more
Troutman Sanders and Pepper Hamilton are producing a series of podcasts to discuss litigation topics that have been brought to the forefront by the COVID-19 pandemic and how businesses might be able to prepare and respond. ...more
A recent decision from the North District of Illinois has expanded on the Seventh Circuit’s holding in Pantoja v. Portfolio Recovery Assocs., LLC, 852 F.3d 679 (7th Cir. 2017) regarding revival warnings in collections letters...more
Eighteen years ago, the Seventh Circuit crafted “safe harbor” language which, if used, shielded debt collectors from liability under 15 U.S.C. § 1692g. A recent decision, Boucher v. Fin. Sys. of Green Bay, 2018 U.S. App....more
A federal district court in Pennsylvania recently granted summary judgment to a debtor in a lawsuit filed against a collection law firm under the Fair Debt Collection Practices Act (FDCPA)....more
The Internal Revenue Service has for some time made available a comprehensive set of Questions & Answers covering the Affordable Care Act’s (ACA) employer shared responsibility rules. (These are the rules that are codified in...more
One thing I’ve learned over time is not to bottle up anger. Ever since I was a kid, I was passive-aggressive, I wouldn’t confront people with issues that bothered me and I’d bottle it up until I blew up later down the line. I...more
As litigators are well aware, a lawsuit frequently begins and ends with discovery. Complaints must be carefully worded and allegations carefully chosen in order to maximize success in developing a record and in exploring...more
When someone owes the IRS taxes, as a result of not paying the tax shown as due on a tax return or where the IRS audits and imposes additional taxes owed, the IRS will “assess” this tax liability, and with penalties and...more
I had an occasion recently to compare the preference laws of the US and Canada in a cross-border matter, and wanted to share the attached compendium comparing the insolvency laws of the U.S., Canada and Mexico, Insolvency...more