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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....

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...

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...

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...

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...

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...

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....

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...

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...

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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