Businesses leaders concerned with managing risk that can arise when an employee or other workforce member violates Sentencing Guideline or other rules for which the business or leader is legally accountable should not overlook the value of getting their human resources department and others responsible for managing performance on the compliance team.
Posted in Bankruptcy, CEO, D&O, Director Liabiloity, Employment, Fiduciary Responsibility, Internal Controls, Officers, Shareholder Liability, Tax
Tagged Compliance, directors liability, Employer, employment, Federal Sentencing Guidelines, Internal Controls, officers liability, Risk Management, Sarbanes-Oxley, Sox
IRS Establishes Safe Harbor Election for Allocating Success-Based Fees Paid On Certain Business Transactions
The Internal Revenue Service is establishing a new safe harbor that businesses may elect to use when allocating success-based fees paid in connection with a business organizsatoin under Treasury Regulation § 1.263(a)-5(e)(3) of the Income Tax Regulations.
Revenue Procedure 2011-29 will be published in Internal Revenue Bulletin 2011-18 on May 2. It will provide that in lieu of maintaining the documentation required by § 1.263(a)-5(f), electing taxpayers may elect to treat 70 percent of the success-based fee as an amount that does not facilitate the transaction. The remaining portion of the fee must be capitalized as an amount that facilitates the transaction.
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• TPA’s Embezzlement Guilty Plea Reminds Plan Sponsors, Fiduciaries & Service Providers To Ensure Fiduciaries, Administrators & Staff Prudently Selected, Monitored & Bonded
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• DOL Announces Changes To H-2B Prevailing Wage Calculation Rules
• $1 Million + FLSA Overtime Settlement Shows Employers Should Tighten On-Call, Other Wage & Hour Practices
• Medical Resident Stipend Ruling Shows Health Care, Other Employers Should Review Worker Classification, Payroll & Other Practices
• CMS Physician Compare Web Site Offers Consumers New Provider Info Source
• Avoiding Post-Holiday Celebration Sexual Harassment & Discrimination Liability
• Small Employers Should Weigh If Health Premium Tax Credit Justifies Changing Employee Leasing Arrangements
• 2011 Standard Mileage Rates Announced
• Proposed New Defined Benefit Plan Annual Funding Notice Rule Reminder of Need to Carefully Manage Pension Plan Responsibilities
• Affordable Care Act Grandfathered Plan Rules Loosened To Allow Insured Plans Making Some Insurance Changes To Qualify
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• EEOC Attacks Medical Leave Denials As Prohibited Disability Discrimination
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©2011 Cynthia Marcotte Stamer. Non-exclusive right to republish granted to Solutions Law Press. All other rights reserved.
Posted in Bankruptcy, CEO, M&A, Tax
Tagged Bankruptcy, compensation, corporate tax, corporate transactions, mergers & acquisitions, restructuring, success-based fees, Tax, traansactions
Executives, board members, and other business leaders of companies providing health, 401(k) or other employee benefits under plans regulated by the Employee Retirement Income Security Act of 1974, as amended (ERISA) should heed a series of recent fiduciary liability settlement orders and lawsuits of the U.S. Department of Labor (Labor Department) as important reminders of the potential personal liability exposures executives can may face if their company’s benefit programs are not appropriately maintained and administered.
Posted in Bankruptcy, CEO, D&O, Director Liabiloity, Employment, Fiduciary Responsibility, Fraud, Internal Controls, Officers, Reengineering, Shareholder Liability
Tagged Boards, D&O, E&O, Employee Benefits, ERISA, Fiduciary Liability, TPAs