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IRS Victory in Tax Shelter Case May Cost BNY Mellon $800 Million post image

IRS Victory in Tax Shelter Case May Cost BNY Mellon $800 Million

The Internal Revenue Service won a major victory in a high-profile tax shelter case that may carry costly implications for multinational corporations. A federal U.S. Tax Court handed down a ruling that bars Bank of New York Mellon from claiming millions of dollars in foreign tax credits arranged by Barclays. The case involves complex tax […]

Author: Scarinci Hollenbeck, LLC

Link to post with title - "IRS Victory in Tax Shelter Case May Cost BNY Mellon $800 Million"
Recent NJ Employment Decision Highlights Common FMLA Pitfalls post image

Recent NJ Employment Decision Highlights Common FMLA Pitfalls

A recently decided New Jersey employment decision highlights several common pitfalls posed by an employee’s pregnancy rights under applicable laws. It specifically addresses an employers’ obligation to provide individualized notice of Family Medical Leave Act (FMLA) rights when an employee requests leave or the employer learns that an employee’s leave may be for an FMLA-qualifying […]

Author: Scarinci Hollenbeck, LLC

Link to post with title - "Recent NJ Employment Decision Highlights Common FMLA Pitfalls"
Hostess Begins First Round Of Bankruptcy Auctions post image

Hostess Begins First Round Of Bankruptcy Auctions

Hostess Brands will soon begin the process of auctioning off its most iconic labels in an effort to emerge from protection under bankruptcy law. The process will begin in the last week of February, during which the company will auction off several of its brands, including Wonder Bread, Dow Jones Newswires reports. One bidder – Flowers […]

Author: Joel R. Glucksman

Link to post with title - "Hostess Begins First Round Of Bankruptcy Auctions"
New SEC Technology to Focus on Suspicious Corporate Disclosures post image

New SEC Technology to Focus on Suspicious Corporate Disclosures

The Securities and Exchange Commission (SEC) is increasingly turning to technology to help root out fraud. The agency recently announced plans to launch a new computer software program that will detect accounting anomalies in corporate disclosures submitted to the regulator. The new data driven approach is expected to bolster the SEC’s risk assessment process when […]

Author: Dan Brecher

Link to post with title - "New SEC Technology to Focus on Suspicious Corporate Disclosures"
Ja Rule Released From Prison in Gun Case To Serve Time for Tax Evasion post image

Ja Rule Released From Prison in Gun Case To Serve Time for Tax Evasion

Rapper Ja Rule, whose real name is Jeffrey Atkins, was recently released from federal prison for illegal gun possession only to be sent into custody for failing to comply with federal tax law. The Platinum-selling rapper served most of his two year sentence for possessing illegal firearms, and was recently escorted by U.S. Marshals to […]

Author: James F. McDonough

Link to post with title - "Ja Rule Released From Prison in Gun Case To Serve Time for Tax Evasion"
Splitting Inheritances Evenly May Not Always Be the Best Policy post image

Splitting Inheritances Evenly May Not Always Be the Best Policy

How Will You Split Their Inheritance? When it comes to dividing up an estate among heirs, many affluent individuals and business owners balk at leaving one child more assets, cash, or property than their other children for fear that it will cause sibling rivalry. However, when business interests or family heirlooms are involved, this may […]

Author: Scarinci Hollenbeck, LLC

Link to post with title - "Splitting Inheritances Evenly May Not Always Be the Best Policy"
Actual Malice Proofs—Meant to Be Difficult, Not Impossible Part I post image

Actual Malice Proofs—Meant to Be Difficult, Not Impossible Part I

When a public figure brings a defamation lawsuit, he is required to prove that the defendant acted with actual malice, meaning he must present evidence that the defendant knew his statement to be false or that he had serious doubts as to the statement’s veracity.  The public figure’s burden is meant to be difficult; it […]

Author: Joel N. Kreizman

Link to post with title - "Actual Malice Proofs—Meant to Be Difficult, Not Impossible Part I"
Mary J. Blige Faces Tax Lien on New Jersey Mansion post image

Mary J. Blige Faces Tax Lien on New Jersey Mansion

Grammy winner and R&B artist Mary J. Blige is facing a host of financial issues that recently culminated in a $900,000 tax lien being placed on her home. The state of New Jersey imposed the lien on Blige’s 18,250-square-foot mansion in Saddle River after Blige violated tax law by failing to pay back taxes. She bought the home […]

Author: James F. McDonough

Link to post with title - "Mary J. Blige Faces Tax Lien on New Jersey Mansion"
Reader's Digest Seeks Chapter 11 Bankruptcy Protection post image

Reader's Digest Seeks Chapter 11 Bankruptcy Protection

Reader’s Digest, a long-time staple in most American homes, is seeking Chapter 11 protection under bankruptcy law to unload hundreds of millions of dollars in debt. RDA Holding, parent company of the Reader’s Digest Association, sought court protection in White Plains, New York, while it attempts to implement a restructuring plan with creditors. The proposed […]

Author: Joel R. Glucksman

Link to post with title - "Reader's Digest Seeks Chapter 11 Bankruptcy Protection"
Internet Gaming One Step Closer in New Jersey post image

Internet Gaming One Step Closer in New Jersey

New Jersey is poised to legalize Internet gaming, becoming just the third state in the country to do so.  Although Gov. Chris Christie recently issued a conditional veto of the legislation, lawmakers have stated that they are confident that they will quickly have a revised bill on his desk. The law only legalizes intra-state online […]

Author: Robert A. Marsico

Link to post with title - "Internet Gaming One Step Closer in New Jersey"
Former Hockey Player Joins Class-Action Lawsuit Against NCAA post image

Former Hockey Player Joins Class-Action Lawsuit Against NCAA

NCAA Facing Class-Action Lawsuit Kyle Solomon, former hockey player for the University of Maine, has joined three other athletes in a class-action lawsuit against the National Collegiate Athletic Association for the way the organization handles concussions. Solomon – whose hockey career was halted his sophomore year due to a concussion – joined former Eastern Illinois football player […]

Author: Scarinci Hollenbeck, LLC

Link to post with title - "Former Hockey Player Joins Class-Action Lawsuit Against NCAA"
IRS to Appeal Court's Tax Licensing Decision post image

IRS to Appeal Court's Tax Licensing Decision

Court Makes Decision on Tax Licensing Case The U.S. District Court for the District of Columbia recently ruled the Internal Revenue Service did not have the authority to license independent tax preparers. However, the IRS said it plans to appeal the decision, a move that may affect as many as many as 700,000 professionals who file […]

Author: Scarinci Hollenbeck, LLC

Link to post with title - "IRS to Appeal Court's Tax Licensing Decision"

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