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Reporting Requirements Failure-to-File

Latham & Watkins LLP

Recent Developments for Directors - November 2024

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SEC Penalizes Director for Misleading D&O Questionnaire Response - The SEC recently brought an enforcement action against a director for causing violations of the proxy rules by failing to disclose a close personal...more

Rivkin Radler LLP

Unconstitutionally Excessive FBAR Penalties? It Depends

Rivkin Radler LLP on

You may recall that earlier this year the IRS launched an initiative to pursue 125,000 “high-income, high-wealth” taxpayers who have not filed taxes since 2017. These were cases where the IRS received third party information...more

Fox Rothschild LLP

EEOC Cracks Down on Repeated Failure to File EEO-1 Component Reports as This Year's Deadline Looms

Fox Rothschild LLP on

As we previously reported, the deadline for employers to submit their EEO-1 Component 1 reports is June 4, 2024. The federal regulations requiring reporting of the EEO-1 Component data also provide a mechanism for the EEOC...more

Constangy, Brooks, Smith & Prophete, LLP

EEOC lowers the boom on EEO-1s

Employers who (allegedly) didn't file are being sued. The Equal Employment Opportunity Commission announced on Wednesday that it has filed suit against 15 employers in 11 states and in a variety of industries for failing to...more

Fisher Phillips

EEOC Sues Employers for Not Filing EEO-1 Reports: 5 Steps You Should Take Before June 4 Deadline to Avoid Similar Fate

Fisher Phillips on

In an unprecedented action, federal workplace law officials just filed suit against 15 employers in 10 states alleging that they failed to file their mandatory EEO-1 reports and asking the court to order the employers to do...more

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

California Civil Rights Department’s Pay Data Enforcement Action Highlights Risks Related to Failures to File Required Reports

As the 2023 California pay data reporting cycle begins, a look at the California Civil Rights Department’s (CRD) recent pay data reporting enforcement actions provides a helpful reminder of the potential risk that exists for...more

Woods Rogers

Virginia Community Associations and the Corporate Transparency Act: New Federal Reporting Requirements Effective January 1, 2024

Woods Rogers on

Effective January 1, 2024, most Virginia community associations will be required to comply with the federal Corporate Transparency Act (“CTA”) and its regulations, unless a community association fits within one of the narrow...more

Gray Reed

FBAR Penalty Defenses and Techniques: The Wrong “Willful” Penalty Computation

Gray Reed on

On September 8, 2023, the IRS issued a News Release suggesting that FBAR compliance investigations and audits would heat up in the near future.  For those unfamiliar with FBARs, federal law requires United States persons to...more

Cadwalader, Wickersham & Taft LLP

Supreme Court Hands Taxpayers a Victory in FBAR Penalty Case

Taxpayers recently won a significant victory at the Supreme Court in a penalty case involving a non-willful failure to file a Report of Foreign Bank and Financial Accounts (“FBAR”) under the Bank Secrecy Act (the “BSA”)....more

Woods Rogers

Corporate Transparency Act: Final Regulations Issued

Woods Rogers on

Read part one of this article series here. Historically, information about small to mid-sized businesses has been within the exclusive province of state governments. As such, business entities have been able to maintain...more

Gray Reed

Supreme Court Will Hear Non-Willful FBAR Penalty Dispute

Gray Reed on

On June 21, 2022, the United States Supreme Court agreed to hear a dispute involving split decisions among the circuit courts on non-willful penalties. The Fifth Circuit parted ways with the taxpayer friendly decision of the...more

Gray Reed

Missing Annual Franchise Tax Reports Can Have Big Consequences

Gray Reed on

A corporate client of the firm was recently sued for breach of contract and other violations. However, the company manager found himself facing a personal liability allegation for the company debts....more

Polsinelli

Timely FBAR Filing as Important as Ever Following Circuit Court Decisions

Polsinelli on

Last week the Ninth Circuit issued a win for taxpayers in US v. Boyd, limiting penalties for non-willful violations of the requirement to file a Report of Foreign Bank and Financial Accounts (FBAR). ...more

Freeman Law

Court Strikes Down Largest Non-Willful FBAR Penalty Ever

Freeman Law on

I have previously written on the Bittner (E.D. Tex.) case in a prior Insight.  Briefly summarized, the taxpayer, Mr. Bittner, was a dual citizen of both Romania and the United States.  However, in 1990, he moved back to...more

Foley & Lardner LLP

IRS Announces Plans to Increase Audits on High-Net-Worth Individuals and their Related Entities

Foley & Lardner LLP on

At the end of June, the Commissioner of the IRS Large Business and International Division announced a new campaign to audit high-net-worth individuals and the entities (such as partnerships, corporations, trusts, and private...more

Stinson - Corporate & Securities Law Blog

SEC Charges 13 Private Fund Advisers for Failure to File Form PF

The SEC announced settlements with 13 registered private fund investment advisers who repeatedly failed to provide required information that the agency uses to monitor risk. ...more

Mintz

Not Just Mergers – FTC Highlights Commonly Missed HSR Reportable Transactions

Mintz on

The Premerger Notification Office (the “PNO”) of the Federal Trade Commission (the “FTC”) recently issued a reminder about often overlooked “transactions” that may require notification under the Hart-Scott-Rodino Antitrust...more

Perkins Coie

Hart-Scott-Rodino Annual Report for Fiscal Year 2016: Increases in Filings and Second Requests, Impact on Executive Stock...

Perkins Coie on

The Hart-Scott-Rodino Annual Report Fiscal Year 2016 , published last year by the Federal Trade Commission (FTC) and the U.S. Department of Justice (DOJ), summarizes FTC and DOJ actions conducted under the Hart-Scott-Rodino...more

Dechert LLP

Non-U.S. Companies Should Use Caution When Investing in U.S. “Agricultural Land”

Dechert LLP on

A non-U.S. company that buys or sells U.S. real estate that is or once was used for agricultural purposes may face reporting requirements in connection with such transactions. These reporting obligations might apply whether...more

Cadwalader, Wickersham & Taft LLP

SEC Issues Guidance on Conflict Minerals Rule

On May 30, 2013, the Securities and Exchange Commission issued guidance related to the requirement that issuers disclose the use of conflict minerals in their products, as mandated by the 2010 Dodd-Frank Wall Street Reform...more

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