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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Oldest Swiss Bank to Close After Pleading Guilty to Helping U.S. Clients Evade Taxes

Wegelin and Co., the oldest bank in Switzerland, will soon shut its doors following a guilty admission for helping American clients evade U.S. tax law by hiding more than a billion dollars in income from the Internal Revenue Service. Otto Bruderer, an official at the 270-year-old Swiss institution, entered the guilty plea on the bank’s […]

Author: James F. McDonough

February 8, 2013

Tribune Co. to Drop Certain Clawback Lawsuits Against Executives

Clawback Lawsuits to be Dropped, but NOT for all Executives The Tribune Co., owner of several notable newspapers and television stations, announced that it plans to drop some lawsuits against the executives that it asserts contributed to its bankruptcy. Following upon its recent emergence from bankruptcy protection, the company said it plans to drop the […]

Author: Joel R. Glucksman

February 7, 2013

Business Owners: Avoid Tax Compliance Hang-ups Related to Independent Contractors

Avoid Tax Compliance Issues There are a number of perks to hiring independent contractors for jobs, rather than relying on salaried employees. However, there can also be potential tax law missteps related to issuing forms to freelance workers, making it important for business owners to tread cautiously around filing season. Failing to comply with federal […]

Author: James F. McDonough

February 6, 2013

Employers Beware: Misclassification of Workers Is the Focus of DOL Action

On January 24, 2013, the U.S. Department of Labor (“DOL”) proposed to conduct a first-of-its-kind survey of employers and employees about their experiences and knowledge of worker “misclassification.” Worker misclassification occurs when a bona fide, common law employee is classified to be an “independent contractor” so as to avoid tax withholding, overtime pay and insurance […]

Author: Scarinci Hollenbeck, LLC

February 6, 2013

Handy Hardware Files for Chapter 11 Bankruptcy Protection

Handy Hardware Wholesale, Inc., a dealer-owned hardware wholesale group operating in 14 states filed for Chapter 11 protection under bankruptcy law after a costly expansion straddled it with debt. Handy filed for protection from its creditors in U.S. Bankruptcy Court in Wilmington, Delaware. The wholesale group has roughly 1,000 members, who wholly own the company, […]

Author: Joel R. Glucksman

February 5, 2013

Don’t Negotiate Without It: Tips for Drafting Non-Disclosure Provisions

Most businesses maintain as confidential various forms of proprietary information like revenue projections, operating expenses, secret formulas, business plans, customer lists and any number of other forms of information that would lose value if widely disseminated. At the same time, it is often necessary to share such information to further business goals. The use of […]

Author: Donald M. Pepe

February 5, 2013

O.J. Simpson Owes Half A Million Tax Debt to IRS

Former football star O.J. Simpson is facing a slew of legal issues and the latest involves a hefty tax debt owed to the Internal Revenue Service. Simpson, who is currently serving a 30-year prison sentence in Nevada’s Lovelock Correctional Center after a 2008 conviction involving kidnapping and armed robbery, has reportedly skipped out on paying […]

Author: Scarinci Hollenbeck, LLC

February 4, 2013

Facebook Settles Class-Action Lawsuit for $20 Million

Members represented in a class-action lawsuit against social media giant Facebook may be entitled to a $10 payout after the networking site agreed to a $20 million-dollar settlement. The class-action lawsuit revolves around Facebook’s use of members’ names, photos, likenesses and identities in sponsored ads without their permission. This scenario became an issue when the website […]

Author: Scarinci Hollenbeck, LLC

February 4, 2013

Senate Bill Would Create Private Cause of Action in New Jersey for Bad Faith Insurance Claims

Legislative efforts are again underway in New Jersey to establish a private cause of action for bad faith claims against insurers. This would help to codify bad faith doctrine recognized in Rova Farms Resort Inc. v. Investors Ins. Co., 65 N.J. 474 (1974) and in other decisions. Under current law, the Commissioner of Banking and […]

Author: Scarinci Hollenbeck, LLC

February 4, 2013

Insurance

DOJ, Sports Leagues Get Involved in New Jersey Sports Betting Law

A contentious new law in New Jersey that would allow residents to place wagers on sports has attracted the ire of the U.S. Department of Justice, which has now joined forces with colleges and professional sports leagues seeking to stop the legislation from going into effect. The controversy stems from a law signed last year […]

Author: Scarinci Hollenbeck, LLC

February 1, 2013

Grant Family Farms Seeks Chapter 7 Bankruptcy Protection

A Colorado community has been surprised after its first organic, community-supported agricultural farm was forced to file for Chapter 7 bankruptcy protection under federal bankruptcy law. Wellington, Colorado-based Grant Family Farms petitioned for Chapter 7 bankruptcy protection after operating in the community for 61 years. In a Chapter 7 bankruptcy, a trustee is appointed by […]

Author: Joel R. Glucksman

February 1, 2013

Judge Authorizes IRS to Seek Bank Records From UBS

The IRS is within its rights to request financial records from UBS of U.S. taxpayers suspected of hiding their income in accounts with Swiss bank Wegelin, a court ruled. U.S. District Judge William Pauley granted the Internal Revenue Service a motion to issue a “John Doe” summons – which requests information about possible tax fraud committed by individuals […]

Author: James F. McDonough

February 1, 2013

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