New IRS Guidance for Foreign Banks and Withholding Agents

The Foreign Account Tax Compliance Act (FATCA) was enacted in 2010 to combat tax evasion by Americans using Swiss bank accounts and hiding other financial assets overseas. FATCA requires Foreign Financial Institutions (FFIs), including banks, mutual funds, and hedge funds, to report information about American accounts to the Internal Revenue Service. FFIs that do not…

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New Coverage Rule for Workers’ Compensation in California

The New Year brings with it resolutions, football games, and of course, the implementation of new laws in California. In fact, California enacted 900 new laws for 2017, and one of those will increase costs for many businesses in the state. In Assembly Bill number 2883, the state government amended the Labor Code to increase…

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Trump’s Tax Proposals for the New Year

President-elect Trump has proposed to simplify the tax code after his inauguration in 2017. His tax plan is available on his campaign website, aided by his various statements concerning tax reform which are contained in other press releases. To reduce complexity, Trump would eliminate the personal exemption and head of household filing status. He also…

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Whistleblower Immunity Provision

With the New Year rapidly approaching, it is the time of year when businesses review the past year’s successes and failures, as well as plan what they want to accomplish in 2017. It also should be a time when businesses review their legal contracts to make sure that they are current with all applicable laws…

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