News & Analysis as of

Look-Back Measurement Period

Miller Canfield

Why Shouldn’t Equitable Tolling Apply to the Federal Tax Refund Look-Back Period?

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In Libitzky v. United States, the United States Court of Appeals for the Ninth Circuit affirmed disallowance of a $700,000 federal income tax refund claim. The court said that this was an “unfortunate” case, but they were...more

Opportune LLP

Business Combinations vs Asset Acquisitions ...

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The classification of a transaction as either a business combination or an asset acquisition for financial reporting purposes has recently received greater attention. The differences between the two types of transactions can...more

BakerHostetler

Warner Chappell Music, Inc. v. Nealy: Supreme Court Allows Retrospective Copyright Damages Beyond 3 Years Based on Discovery Rule

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Ruling in favor of a Miami music producer, Sherman Nealy, over a song by rapper Flo Rida, the Supreme Court held on May 9 that there is no time limit for recovering monetary damages in copyright cases that are otherwise...more

Genova Burns LLC

Times Up? Not So Fast: Supreme Court Rules Damages Are Not Limited to Three Year Look Back Where Copyright Act Claim is Timely...

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The U.S. Supreme Court issued a decision this week, finding that the 3-year statute of limitations for claims under the Copyright Act does not limit recovery of damages to three years prior to the filing of the lawsuit. The...more

BCLP

EPA Publishes Extensive PFAS Chemical Reporting Rule With Wide-ranging Impacts

BCLP on

On September 28, 2023, the United States Environmental Protection Agency (“EPA”) issued a pre-publication rule for reporting and recordkeeping requirements regarding per- and polyfluoroalkyl substances (“PFAS”) under the...more

Health Care Compliance Association (HCCA)

[Event] Regional Healthcare Compliance Conference - September 15th, Minneapolis, MN

Looking for compliance education and networking in your area? HCCA’s Regional Healthcare Compliance Conferences offer practitioners convenient, local compliance education that covers a wide variety of current and emerging...more

Venable LLP

Maryland Legislation Repealing the Statute of Limitations for Civil Suits Based on Child Sexual Abuse Is Signed into Law

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On April 11, Governor Wes Moore signed into law the Child Victims Act of 2023, which permits survivors of child sexual abuse to file a civil lawsuit at any time, repealing both the current statute of limitations and the...more

Fox Rothschild LLP

Look-Back Period Questioned in NJ Wage and Hour Case

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Earlier this month in Maia v. IEW Construction Group, the New Jersey Appellate Division confronted a critical issue concerning this state’s wage and hour laws. The case centered on amendments passed by the state Legislature...more

Fisher Phillips

Top 10 Ways Employers Can Avoid Regular Rate Wage Mistakes On Their 2023 Resolutions Lists

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When the US Department of Labor’s Wage and Hour Division published a Final Rule on the regular rate in late 2019, it gave employers the freedom to more easily offer perks and benefits to their employees without running afoul...more

Bradley Arant Boult Cummings LLP

SBA Adopts 24-Month Period for Employee-Based Size Determinations

The U.S. Small Business Administration (SBA) recently issued a final rule adopting a 24-month — as opposed to the current 12-month — average to calculate a business’s number of employees for eligibility purposes in all SBA...more

Holland & Knight LLP

SBA Adopts 24-Month Lookback for Employee-Based Size Standards

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The U.S. Small Business Administration (SBA) issued a final rule on June 6, 2022, making significant changes to its methodology for calculating the size of certain businesses. The rule becomes effective July 6, 2022....more

Pullman & Comley - For What It May Be Worth

Assessor Error and Tax Refunds

When the City of Stamford converted all of its records to an electronic system in 1993, the assessor erroneously listed the property at 3 Hackett Circle West as comprised of 1.15 acres.  In fact, the total acreage was either...more

Jones Day

Business Restructuring Review | May–June 2022

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FIFTH CIRCUIT WEIGHS IN ON BANKRUPTCY ASSET SALES FREE AND CLEAR OF LEASEHOLD INTERESTS - The ability of a trustee or chapter 11 debtor-in-possession (“DIP”) to sell bankruptcy estate assets “free and clear” of competing...more

Jones Day

Delaware Bankruptcy Court Rejects Use of Tax Code Look-Back Period in Avoidance Action

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The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to avoid fraudulent transfers is an important tool to promote the bankruptcy policies of equality of distribution among creditors and maximizing...more

Kelley Drye & Warren LLP

Ten Years Gone – Delaware Bankruptcy Judge Rejects Effort to Extend Lookback Period for Avoidance of Pre-Bankruptcy Transfers

A recent decision by Delaware Bankruptcy Judge John Dorsey will limit the ability of bankruptcy trustees to expand the lookback period for avoiding pre-bankruptcy transfers beyond the four years provided under most state law...more

Jones Day

Another Court Adopts Majority View in Approving Bankruptcy Trustee's Use of Tax Code Look-Back Period in Avoidance Actions

Jones Day on

The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to avoid fraudulent transfers is an important tool promoting the bankruptcy policies of equality of distribution among creditors and maximizing...more

Kramer Levin Naftalis & Frankel LLP

Bankruptcy Court Permits Chapter 7 Trustee to Utilize IRS’ Look-Back Period in Seeking to Avoid Fraudulent Transfers

In its recent decision in Mitchell v. Zagaroli, Adv. Pro. No. 20-05000, 2020 WL 6495156 (Bankr. W.D.N.C. Nov. 3, 2020), the Bankruptcy Court for the Western District of North Carolina held that the Chapter 7 trustee could...more

Akin Gump Strauss Hauer & Feld LLP

National Defense Authorization Act Boosts SEC’s Disgorgement Authority and Ability to Seek Other Equitable Relief

Amendments Come on the Heels of Supreme Court Decisions on SEC Disgorgement - On January 1, 2021, Congress passed the National Defense Authorization Act (NDAA). Embedded in the NDAA’s more than 1,400 pages is Section...more

WilmerHale

Congress Amends Exchange Act, Expanding SEC Enforcement Power

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On January 1, 2021, amendments to Section 21(d) of the Securities Exchange Act of 1934 (Exchange Act) codifying and expanding the power of the Securities and Exchange Commission (SEC or Commission) to obtain disgorgement in...more

Latham & Watkins LLP

US Congress Affirms and Expands SEC’s Disgorgement Authority in Annual Defense Spending Bill

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The legislation - passed via the first congressional override of the Trump presidency - extends the SEC’s ability to obtain disgorgement for violations of federal securities laws. Key Points: ..As amended, the...more

Miles & Stockbridge P.C.

Bankruptcy Court Within Fourth Circuit Permits Fraudulent Conveyance Claims to Move Forward Under IRS 10-Year Reach Back Period

Miles & Stockbridge P.C. on

A recent opinion by the United States Bankruptcy Court for the Western District of North Carolina kept alive a bankruptcy trustee’s fraudulent conveyance claims based on, in part, the Internal Revenue Code (“IRC”) 10-year...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

5 Key Executive Compensation Trends and Issues for 2021

The 2021 executive compensation season will be more challenging than usual for most companies due to the financial and economic consequences of the COVID-19 pandemic. To meet these challenges, companies should be aware of...more

Seyfarth Shaw LLP

NY Legislature Votes to Extend Child Victims Act Deadline

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Some important news on the CVA front. Wednesday evening the New York State Legislature responded to mounting criticism that Gov. Cuomo exceeded his executive authority in issuing an Executive Order that extended the CVA look...more

Holland & Knight LLP

February 2020 Small Business Roundup

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Veteran-Owned Business Priority - In 2016, the U.S. Supreme Court surprised many by hearing a bid protest concerning the application of the "Rule of Two" for veteran-owned small businesses in procurements run by the U.S....more

Eversheds Sutherland (US) LLP

Top five unclaimed property trends for 2020

Unclaimed property audits and compliance issues will continue to be a challenge for companies in a wide range of industries. States view escheat as an important source of revenue, and contingent fee auditors will do their...more

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