News

Proposed US Tax Legislation Aims to Curb Hedge Fund Reinsurance

By EsqSocial Corporation 06/07/15

Senator Ron Wyden (D-OR) has released legislation, the Offshore Reinsurance Tax Fairness Act (ORTFA), which aims to close what he perceives to be a loophole used to exploit an exception to the passive foreign investment company or PFIC tax rules....

First Time Abate

By EsqSocial Corporation 06/07/15

Taxpayers who file a return late, make a late payment, or make a late tax deposit are subject to penalties. What is not known by most taxpayers, and a lot of tax practitioners, is that the IRS has a program to abate these penalties for those that...

The Sigelman Case and DOJ’s FCPA Trial Record

By EsqSocial Corporation 06/07/15

In the aftermath of the Sigelman FCPA criminal trial, the FCPA Paparazzi is in full force hyperventilating about “trends,” “messages,” and “lessons learned.” As a former prosecutor with plenty of trial experience (over 75 criminal trials, two of...

SEC Proposes Rule Regarding Clawback of Erroneously Awarded Incentive-Based Compensation

By EsqSocial Corporation 06/07/15

The SEC has proposed Rule 10D-1 under the Securities Exchange Act of 1934 to implement the clawback provisions contained in Section 954 of the Dodd-Frank Act. Under the proposal, in the event that a public company restates its financial statements...

OPM sued by workers’ union in proposed class action

By EsqSocial Corporation 06/07/15

The Office of Personnel Management (OPM) was sued this week in the D.C. federal court by its workers’ union the American Federation of Government Employees (AFGE). Significantly, the suit named OPM Director Katherine Archuleta and Chief Information...

District Court Orders Transfer of Case During Claim Construction Briefing: Did the Transfer Stay the Briefing Deadlines?

By EsqSocial Corporation 06/07/15

Defendants LG Electronics Inc. and LG Electronics U.S.A., Inc. (collectively, "LG") filed a motion to clarify the district court's order transferring the case to the district of New Jersey, seeking a ruling that the court's deadlines were suspended...

Whistleblower Reinstatement Highlights Need for Companies to Keep Detailed Files on Personnel

By EsqSocial Corporation 06/07/15

In 2012, a jury ruled that Bayer Corporation had unlawfully terminated one of its sales representatives, Mike Townsend, because he alerted the Arkansas Attorney General to incidents of physicians overbilling Medicaid for the company’s drugs....

U.S. Supreme Court Issues Ruling Favorable To Employers Involved In Disparate-Impact Litigation

By EsqSocial Corporation 06/07/15

On June 25, 2015, the U.S. Supreme Court issued a 5 to 4 ruling in Texas Dep’t of Housing & Community Affairs v. Inclusive Communities Project, Inc., No. 13-1371 (2015). Now that the dust has settled from the Supreme Court’s recent term, what does...

U.S. Supreme Court Upholds Premium Subsidies on Federally Run Health Insurance Exchanges

By EsqSocial Corporation 06/07/15

On June 25, 2015, in a 6-3 majority opinion, the U.S. Supreme Court confirmed the availability of premium subsidies for health coverage purchased on Affordable Care Act (ACA) health insurance exchanges, regardless of whether those are state or...

Medical Residents Held Subject to FICA

By EsqSocial Corporation 06/07/15

In the case of University of Texas System v. U.S., 759 F.3d 437, (2014) the U.S. Supreme Court on April 27, 2015 declined to review a decision of the U.S. Fifth Circuit Court of Appeals which, affirming the district court, held that medical residents...

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