SDNY Bankruptcy Court Enters Final Default Judgments Against Properly Served Foreign Defendants

By Kevin C. Maclay, Todd E. Phillips and Sally J. Sullivan Recently, in the Advance Watch bankruptcy, the Bankruptcy Court for the Southern District of New York ruled that a bankruptcy judge is authorized to enter a final default judgment in an adversary proceeding against a foreign defendant who failed to respond to a validly-served […]

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Seek Global Trademark Protection Under the Madrid Protocol

  Employment Law   Avoid Costly Employer Mistakes Today’s employers face a growing list of liability dangers. They begin as soon as a business starts looking for job applicants and can continue even after employees leave the company. Here are three cases involving a medical practice, a manufacturer and a restaurant that highlight some of the […]

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IRS Adds Foreign Trust Information Reporting to Compliance Campaign Program

On May 21, 2018, the IRS Large Business and International (LB&I) division added foreign trust information reporting to its “compliance campaigns,” signaling that the IRS sees a “compliance risk” in this area that requires a targeted response to achieve compliance objectives.  LB&I specifically indicated that it will take a “multifaceted approach” to improving compliance, including […]

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New York Enhances Disclosure of Online Political Ads and Requires Online Platforms to Create Archives

On April 18, 2018, Governor Andrew Cuomo signed the New York Democracy Protection Act—which expands the disclosure obligations for online political advertising in the State of New York and requires television, satellite, cable, radio stations, and providers, as well as online platforms—to verify advertiser registration with the New York State Board of Elections and, in […]

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IRS Guidance Removes Obstacle to Restructuring Tax-Exempt Organizations

Under newly issued guidance, the IRS has made it easier for many tax-exempt organizations to restructure. The IRS will now continue to recognize as exempt, those organizations that: change their structure from an unincorporated association to a corporation; reincorporate from one state to another; domesticate in a new state; or merge one corporation with or […]

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INSIGHT: First Class, Global Entry, and Now Tax Compliance: the New Must-Have for Today’s International Traveler

Join Our Email Distribution List   INSIGHT: First Class, Global Entry, and Now Tax Compliance: the New Must-Have for Today’s International Traveler  Bloomberg Tax: Daily Tax Report March 6, 2018   Dianne Mehany and Arielle Borsos of Caplin & Drysdale discuss the IRS’s plans to implement the 2015 passport revocation statute, which authorizes the IRS to […]

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IRS to Revoke Passports for Seriously Delinquent Tax Debts Starting February 2018

As detailed in our prior alert (here), Congress enacted Fixing America’s Surface Transportation Act (the “FAST Act”) in December 2015 and authorized the Internal Revenue Service (“IRS”) to notify the Department of State (“State Department”) when any individual has a “seriously delinquent tax debt.”  After receiving notice, the Secretary of State may deny that person […]

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New IRS Procedures Will Impact Nonprofits

The IRS has announced procedural changes that will impact exempt organizations in 2018.  These changes concern new organizations and organizations that have lost exemption due to automatic revocation.  They also affect any organization where the IRS is proposing to retroactively revoke its exemption as a result of an IRS examination.   The most significant changes […]

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2018 Ushers In New Estate Planning Opportunities and Pitfalls

  On December 22, 2017, President Trump signed into law the most sweeping tax reform bill in over 30 years (the “2017 Tax Act” or the “Act”).  For clients and their advisors, this client alert focuses on the estate planning implications of the new law.  Estate, Gift, and GST Changes The Act increases the estate […]

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