In Mendu v. United States, the Court of Federal Claims held that penalties for failure to timely file a Report of Foreign Bank and Financial Accounts (FBAR), commonly known as “FBAR penalties,” were not subject to the Flora full payment rule, which requires a plaintiff to make payment of the full tax amount before they bring suit in the Court of Federal Claims or any US district court for the refund of any “internal-revenue tax.”
Tax equity financing transactions have become an increasingly popular way to provide a higher rate of return for outside investors and to help developers monetize an otherwise cost prohibitive project. In a recent Tax Court decision, Olsen v. Commissioner, T.C. Memo. 2021-41 (6 April 2021), the taxpayers invested in such a venture, but the result was a complete disallowance of all tax benefits because the investment was simply too good to be true and (according to the Department of Justice) a tax shelter. For individual taxpayers in particular, this case is an effective lesson on how not to structure investments in energy equipment transactions.
The Department of Labor and Employment (DOLE) and the Employment Compensation Commission (ECC) recently issued two separate guidelines (collectively, the “Issuances”) in connection with COVID-19. The Issuances provide guidance to covered employers and employees regarding the promotion of COVID-19 vaccination in the private sector as well as the classification of COVID-19 as an occupational and work-related disease.
Mental well-being is the foundation of a healthy life, which can be manifested in a number of ways, including the ability to cope with stress, productivity at work and participation in society in general. The importance of mental health cannot be undermined if an individual or organization is to thrive. Mental health well-being in the workplace has increasingly become a consideration for employers when it comes to ensuring long-term engagement and productivity among their workforce.
The Department of Labor and Employment (DOLE) and the Employment Compensation Commission (ECC) recently issued two separate guidelines (collectively, the “Issuances”) in connection with COVID-19. The Issuances provide guidance to covered employers and employees regarding the promotion of COVID-19 vaccination in the private sector as well as the classification of COVID-19 as an occupational and work-related disease.
In Commonwealth Director of Public Prosecutions v Citigroup Global Markets Australia Pty Ltd [2021] FCA 511, the Federal Court has handed down an important decision which highlights the dilemma that may be faced by an immunity applicant in complying with its duty to provide full, frank and truthful disclosure and to co-operate under the ACCC’s Immunity and Cooperation Policy for Cartel Conduct (ACCC Policy) and maintaining legal professional privilege over witness accounts provided to solicitors at an early stage in an investigation.
This week’s Government Enforcement video discussion, led by Baker McKenzie’s Tom Firestone and Jerome Tomas, will cover topics such as the Russian response to US sanctions, the trial of Mayor of Fall River, Massachusetts for extorting marijuana businesses, SEC Commissioner Peirce’s statement on an Index Fund SEC settlement, and the SEC and cyrpto assests.
In Mendu v. United States, the Court of Federal Claims held that penalties for failure to timely file a Report of Foreign Bank and Financial Accounts (FBAR), commonly known as “FBAR penalties,” were not subject to the Flora full payment rule, which requires a plaintiff to make payment of the full tax amount before they bring suit in the Court of Federal Claims or any US district court for the refund of any “internal-revenue tax.”
On May 18, 2021, US Customs and Border Protection published in the Federal Register a notice that announces the decision of the Secretary of Homeland Security to terminate arrival restrictions applicable to flights to the United States carrying persons who have recently traveled from, or were otherwise present within, the Republic of Guinea.
The Subsecretary of Open Government and Digital Country, dependent on the Chief of Cabinet of Ministers), created the Vacunación COVID-19 database by means of Disposition No. 06/2021, published in the Official Gazette on 21 April 2021. Its purpose is to organize, accelerate and make effective the administration of vaccines authorized by the competent entities and jurisdictions against COVID-19, contributing to the prevention of the virus and the limitation of its health consequences.
