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And just like that, it’s December 20th already. For those of you who celebrate, have you finished your Christmas shopping yet? I’m expecting a few packages in the mail today, and then just a few things left to wrap before I’m ready for the big day!
But before I get to that wrapping, let’s “wrap” up this week on ILNToday (like what I did there?). We have a truly international roundup for you today:
Prior to diving into the franchise pool for that perfect chunk of a franchise, make sure whether your franchise territory is exclusive or non-exclusive? If it’s exclusive then same brand’s franchise in the given territory won’t let you affect your sales and if it’s non-exclusive then one has to be extra vigilant as the same brand’s franchisee can become a hindrance in fetching revenues. Read on about the pros and cons of the same…More…
When the National Fraud Authority published its Annual Fraud Indicator in June 2013 it estimated that the annual cost of fraud to the UK economy is £52bn. Whilst this might be a huge amount, more recent reports estimate the actual cost is over £85bn (nearly 5.5% of the GDP) of which between 21% and 25% are insider-enabled frauds, i.e. those in which an organisation’s officers, agents or employees are involved. A fifth to a quarter of all businesses has been subject to such issues. More…
The Court of Appeal has decided that, when basing jurisdiction on the Brussels Regulation, it is not possible to deem agreement or consent to jurisdiction from the factual circumstances.
In Antonio Gramsci Shipping v Aivars Lembergs [2013] EWCA Civ 730, the claimant was the owner of vessels chartered to companies controlled by the defendant, who was not domiciled in the jurisdiction. It was alleged that the companies were set up and the charterparties entered into as part of a fraudulent scheme to divert profits from the claimant. The charterparties contained English jurisdiction clauses, and the claimant brought proceedings against the companies in England and obtained judgment. More…
Davis Malm shareholder Robert J. Galvin was recently quoted in the noted online condominium resource HOALeader.com. Mr. Galvin offered insight on the following topics:
Davis Malm shareholder Robert J. Galvin was recently quoted in the noted online condominium resource HOALeader.com. Mr. Galvin offered insight on the following topics:
For more information about HOA Leader, please visit: www.hoaleader.com.
In its latest addition to guidance concerning the effects of the U.S. Supreme Court’s decision in United States v. Windsor, the Internal Revenue Service (“IRS”) has issued Notice 2014-1 to address certain issues relating to cafeteria plans, flexible spending accounts (“FSAs”), and health savings accounts (“HSAs”).
In Windsor, the Supreme Court held that the federal Defense of Marriage Act (“DOMA”), which precluded recognition of same-sex marriages under federal law, was unconstitutional. The decision left many unanswered questions involving the effect of the decision on employer-provided benefits. With respect to issues under the Internal Revenue Code (“Tax Code”), the IRS has previously issued guidance confirming that same-sex couples will be treated as married for federal tax purposes regardless of where the couple is married. Further, the IRS has also addressed some tax issues under employer medical and retirement plans, including establishing certain procedures for claiming refunds of employment and income taxes, and adjustments for withholding by employers. (See our Epstein Becker Green Client Alerts entitled “The Supreme Court Strikes Down DOMA—Benefit Plan Sponsors Have Much to Consider” and “Treasury and IRS Issue Guidance on DOMA—Many, but Not All, Questions Are Answered“). Although previous guidance was effective as of September 16, 2013, many questions remained, including how to apply the various tax rules to events occurring before the decision and before the September 16, 2013, effective date.
In its latest addition to guidance concerning the effects of the U.S. Supreme Court’s decision in United States v. Windsor, the Internal Revenue Service (“IRS”) has issued Notice 2014-1 to address certain issues relating to cafeteria plans, flexible spending accounts (“FSAs”), and health savings accounts (“HSAs”).
In Windsor, the Supreme Court held that the federal Defense of Marriage Act (“DOMA”), which precluded recognition of same-sex marriages under federal law, was unconstitutional. The decision left many unanswered questions involving the effect of the decision on employer-provided benefits. With respect to issues under the Internal Revenue Code (“Tax Code”), the IRS has previously issued guidance confirming that same-sex couples will be treated as married for federal tax purposes regardless of where the couple is married. Further, the IRS has also addressed some tax issues under employer medical and retirement plans, including establishing certain procedures for claiming refunds of employment and income taxes, and adjustments for withholding by employers. (See our Epstein Becker Green Client Alerts entitled “The Supreme Court Strikes Down DOMA—Benefit Plan Sponsors Have Much to Consider” and “Treasury and IRS Issue Guidance on DOMA—Many, but Not All, Questions Are Answered“). Although previous guidance was effective as of September 16, 2013, many questions remained, including how to apply the various tax rules to events occurring before the decision and before the September 16, 2013, effective date.
This week, the Senate joined the House in passing the bipartisan budget deal crafted by Senator Patty Murray (D-WA) and Rep. Paul Ryan (R-WI). Nine Republicans joined all 55 members of the Democratic caucus in passing the bill. President Obama said he will sign the bill, making it law.
The bill sets top-line funding levels at $1.012 trillion for fiscal 2014 and $1.014 trillion for fiscal 2015, while providing $63 billion in sequester relief over two years, paid for through a combination of fees and mandatory savings. The deal will also reduce the deficit by $28 billion over the next 10 years.
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