News & Analysis as of

Trade Preferences Extension Act (TPEA)

Night Note: The 1st 100 Days: Commerce’s Unprecedented Action

by Alston & Bird on

Typically in antidumping proceedings involving market economy countries, the Department of Commerce calculates normal value using the producer’s actual sales or costs of production. However, in the final results of...more

The Revival of the Age of Antidumping and Countervailing Duty Cases

For the first time since the era of pagers, dial-up, and Y2K hysteria, U.S. trade remedy cases are experiencing a resurgence. Under U.S. law, U.S. producers of goods may petition the U.S. government to impose extra tariffs on...more

Antidumping Developments: Adverse Facts Available Update

by Kelley Drye & Warren LLP on

In our September 2015 edition of the Trade Advisor, we discussed the effect that recent amendments to the antidumping laws would have on the U.S. Department of Commerce’s (“the Department”) ability to apply facts available...more

Trade & Manufacturing - News of Note - December 2015

by King & Spalding on

The WTO Reaches 500 Requests for Dispute Settlement - The World Trade Organization (WTO) reached a milestone on November 10 when Pakistan filed the 500th request for trade consultation since the organization’s inception...more

Trade & Manufacturing - News of Note - November 2015

by King & Spalding on

GSP Program Review Results in Changes to Covered Products and Countries - In late September, the Office of the United States Trade Representative announced the outcome of the Generalized System of Preferences (GSP)...more

A New Reality for Uncooperative Parties

by Kelley Drye & Warren LLP on

Recent changes to the antidumping laws will make it more difficult for uncooperative parties to argue for a reduced dumping rate on appeal. Section 502 of the Trade Preferences Extension Act of 2015 (“the Act”) amends the...more

The ERISA Litigation Newsletter - August 2015

by Proskauer Rose LLP on

Editor's Overview - As the summer draws to a close, this month's Newsletter previews three cases that the U.S. Supreme Court already has agreed to hear that ought to be of particular interest to ERISA plan sponsors and...more

Tax Changes Included in the Trade Preferences Extension Act of 2015

by Burr & Forman on

The recently enacted Trade Preferences Extension Act of 2015 (the "Act") contains a number of tax provisions affecting businesses and individuals which have not been widely reported. The Act adds a requirement for claiming...more

Trade & Manufacturing - August 2015

by King & Spalding on

Services Take Center Stage in TiSA; Goods Sector Should Applaud - With Congress preoccupied with the debate over whether to renew Trade Promotion Authority (TPA) (so-called "fast track" authority) and the merits of the...more

IRS Issues New Forms for ACA Reporting; Congress Increases Penalties for Failure to Meet Requirements

by Ballard Spahr LLP on

The IRS has completed drafts of the 2015 forms and instructions for employers, insurers, and other health plan sponsors to use to meet their reporting obligations for the employer and individual mandates under the Affordable...more

Important Tax Provisions Contained in Acts Extending Highway Trust Fund and Trade Preferences

by Williams Mullen on

On July 31, 2015, President Obama signed P.L. 114-41, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (“Highway Act”), into law. Although the Highway Act is primarily for the purpose of...more

The Affordable Care Act’s Reporting Requirements for Carriers and Employers (Part 4 of 24): Highlights from the Draft 2015...

The IRS recently issued draft 2015 Instructions for Forms 1094-C and 1095-C (“2015 Instructions”). These are the forms that employers with 50 or more full-time employees (including full-time equivalent employees) in the...more

Renewal of the Generalized System of Preferences (GSP) – How U.S. Importers Can Take Advantage of Significant Duty Savings Under...

by Polsinelli on

The Generalized System of Preferences (GSP), a unilateral U.S. preferential trade program recently renewed by Congress, offers substantial duty savings for U.S. importers of qualifying merchandise. The GSP is intended to aid...more

United States Extends Trade Preference Programs, Continues to Monitor South Africa's Compliance with Commitments on Imports of...

by King & Spalding on

On June 29, President Obama signed the Trade Preferences Extension Act of 2015 and extended key preferential trade programs with many of the world's developing economies. These programs include the Generalized System of...more

ACA Information Reporting Penalties Have Been Increased

by Snell & Wilmer on

Code Sections 6055 and 6056 require large employers and all employers (even small employers) sponsoring self-funded health plans to file information returns with the IRS and furnish statements to applicable employees...more

ACA Reporting Update: New Forms, Higher Penalties & Other Guidance

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

The Affordable Care Act’s Reporting Requirements for Carriers and Employers (Part 2 of 24): Yikes! The Costs of Failing to Comply...

The Affordable Care Act (ACA) imposes information reporting rules on providers of minimum essential coverage, e.g., insurance carriers and self-funded plans, and on applicable large employers, i.e., those employers that are...more

Have You Requested a Refund on Your Imports Under GSP?

by Thompson Coburn LLP on

Background - Effective July 29, 2015, through the Trade Preferences Extension Act of 2015, Congress extended the duty-free treatment under the Generalized System of Preferences (GSP) through December 31, 2017. The GSP...more

Recent Legislative Developments Will Create Headaches and Increase Financial Risks for Mortgage Servicers and Originators

by K&L Gates LLP on

Two recent legislative developments, which have largely gone unnoticed, will dramatically raise the stakes for mortgage servicers and originators who file IRS Forms 1098. First, the Trade Preferences Extension Act of 2015,...more

Affordable Care Act Reporting Penalties Significantly Increased

by McDermott Will & Emery on

On June 29, 2015, President Barack Obama signed the Trade Preferences Extension Act (the Act) into law. In addition to containing several revenue offsets, the Act significantly increased penalties for incorrect information...more

Employment Law - July 2015 #2

DOL Proposes Major Overhaul of Overtime Rules: Why it matters - Expanding the scope of employees eligible for overtime, the Department of Labor (DOL) released its long-awaited new rules revising the white collar...more

Trade Preference Programs Get New Life

On June 29, 2015, the Trade Preferences Extension Act of 2015 became Public Law No. 114-27. As a result, the Generalized System of Preferences (GSP) was extended to December 31, 2017, with retroactive effect to July 31, 2013...more

New Law Doubles the Penalties for Failure to File Correct Tax Information Returns and Provide Payee Statements

On June 29, President Obama signed into law the Trade Preferences Extension Act of 2015. Quietly embedded in Section 806 of this new law is a provision that doubled the cap on penalties, from $1.5 million to $3 million, for...more

Trade Act Reinstates Expired Health Coverage Tax Credit (HCTC)

On July 6, 2015, President Obama signed the Trade Preferences Extension Act of 2015. Among other things, the Trade Act retroactively reinstated the Health Coverage Tax Credit (HCTC), which had previously expired on January...more

New Trade Act Hikes Penalties for Information Return Failures

by Goulston & Storrs PC on

The newly-enacted Trade Preference Extension Act boosts the penalties for failing to provide accurate information returns to the IRS and payees – such as Forms W-2, 1098, and 1099, as well as Forms 1095-B and 1094-B. The...more

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