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Tag: finance


Business Law & Regulations, Finance

Federal Court Blocks Illinois Equal Pay Amendment: What Employers and Staffing Agencies Need to Know

March 28, 2024

Via: JD Supra

A federal court in Chicago recently granted a preliminary injunction enjoining the Illinois Department of Labor from enforcing one of several amendments made in August 2023 to the Illinois Day Labor and Temporary Labor Services Act (the “Act”). The amendments […]


Business Law & Regulations, Finance

Council of EU publishes updated text of proposed Regulation on instant credit transfers in euro

March 15, 2024

Via: LexBlog

On 15 March 2024, the Council of the EU published the updated text of the proposed Regulation amending the Single Euro Payments Area Regulation, the Cross-Border Payments Regulation, the Settlement Finality Directive and the Second Payment Services Directive as regards […]


Business Law & Regulations, Finance

CBA “checks the math” on recent CFPB credit card report finding large bank issuers charge higher interest rates than smaller issuers

March 4, 2024

Via: LexBlog

After targeting credit card late fees in its proposed rule, the CFPB has set its sights on further attacking credit card pricing through interest rates. The CFPB published a blog late last month stating that credit card interest rate margins […]


Financing your Business

Small Business Guide to Storing Credit Card Information

March 1, 2024

Via: Fit Small Business

Some small businesses, such as those that offer subscriptions, need to store customer credit card details. However, card networks take the security of credit card data seriously and employ strict merchant guidelines for storing credit card information. We provide an […]


Business Law & Regulations, Workplace Safety & Health

Workplace Reform Rolls on… Again

February 26, 2024

Via: JD Supra

The Federal Labor Government (Government) has completed its third tranche of workplace relations reform with the recent passage through Federal Parliament of its Fair Work Legislation Amendment (Closing Loopholes No. 2) Bill 2023. Along with its ‘Secure Jobs, Better Pay’ […]


Tax Code, Regulations and Guidance

US Treasury Says IRS is Focused on Tax Evasion Targeting

February 26, 2024

Via: JD Supra

The US Department of the Treasury has recently reinforced the progress on enforcement, specifically how the IRS is focused on tax evasion targeting and the targeting of high-income individuals and entities. The IRS has deployed Artificial Intelligence (AI) and state-of-the-art […]


Business Law & Regulations, Finance

CFPB seeks approval for new auto finance data collection

February 19, 2024

Via: LexBlog

The CFPB recently published a notice in the Federal Register indicating that it is seeking approval from the Office of Management and Budget (OMB) for the collection of additional auto finance data pursuant to its authority under the Dodd-Frank Act […]


Tax Code, Regulations and Guidance

Tax vote this week? Uncertain. Filing season open? Definitely

January 29, 2024

Via: POLITICO

The House returns to Washington today, after a week away — and, no, it’s not clear whether the chamber will vote on the bipartisan tax bill in the coming days. The official House schedule still has the measure that would […]


Tax Code, Regulations and Guidance

Bonus Tax Rate: What It Is, How It’s Calculated & Tips to Lower It

January 25, 2024

Via: Fit Small Business

Similar to salaries, employee bonuses are subject to taxes—specifically, a bonus tax rate, which is typically a flat rate of 22%. This can change depending on the amount of the bonus and the method used to calculate the applicable bonus […]


Tax Code, Regulations and Guidance

Tax bill passes committee, so now what?

January 22, 2024

Via: POLITICO

Supporters of the bipartisan tax bill needed a statement vote out of the House Ways and Means Committee on Friday to help their cause — and they sure got one. Only three of the committee’s 43 members voted against the […]


Business Law & Regulations, Finance

CFPB proposed rule would make certain overdraft program’s credit subject to Regulation Z disclosure requirements and could cap overdraft fees at $3

January 19, 2024

Via: LexBlog

In furtherance of the Biden Administration’s “junk fee” agenda, on January 17, 2024, the Consumer Financial Protection Bureau issued its proposed rule to amend Regulations E and Z to regulate overdraft services provided by “very large financial institutions” (an insured […]


Tax Code, Regulations and Guidance

New guidance answers questions for retirement plan sponsors

January 16, 2024

Via: JD Supra

In late December 2023, the Internal Revenue Service provided additional guidance in the form of questions and answers (“Q&As”) with respect to certain key qualified retirement plan provisions of the Consolidated Appropriations Act, 2023, known as the SECURE 2.0 Act […]


Tax Code, Regulations and Guidance

A new year to talk about a tax bill

January 2, 2024

Via: POLITICO

Let’s be honest — negotiations over a tax bill are essentially in the same spot they were when lawmakers hightailed it out of Washington last month. People working on a potential deal, both in and out of government, are optimistic […]


Tax Code, Regulations and Guidance

The Nonprofit Sector Need Not Apply: The Corporate Transparency Act and its Tax-Exempt Organization Exemptions

December 27, 2023

Via: National Law Review

ArentFox Schiff’s clients report being inundated with notices from registered agents and other service providers to comply with the Corporate Transparency Act (CTA), a new law that will require many existing and newly formed entities to register with and disclose […]


Tax Code, Regulations and Guidance

Significant Tax Law Changes in Germany: Year-End Status

December 18, 2023

Via: JD Supra

Due to delays, in particular as a result of the ruling by the Federal Constitutional Court (BVerfG) of November 15, 2023, selected tax changes are now to be included in the Act on the Promotion of Orderly Secondary Credit Markets […]


Tax Code, Regulations and Guidance

Update on Tower Health’s Chester and Montgomery County Real Estate Tax Exemption Appeals

December 14, 2023

Via: LexBlog

On October 16, 2023, the Pennsylvania Supreme Court granted Tower Health’s Petition for Allowance of Appeal related to the Montgomery County hospital property. The Supreme Court is going to address the following two issues on appeal: Whether the Commonwealth Court […]


Tax Code, Regulations and Guidance

The bullish case for a tax bill

December 11, 2023

Via: POLITICO

Former House Ways and Means Chair Dave Camp definitely has experience when it comes to year-end tax negotiations — and now he’s got some insight on the current set of talks that have sparked so much interest in D.C. tax […]


Business Law & Regulations, Finance

Ninth Circuit imposes limits on personal jurisdiction over foreign-based payment processor

December 5, 2023

Via: JD Supra

Unlike “general” personal jurisdiction, which allows a court to hear all claims against a defendant as long as that defendant is “at home” in the state, “specific” jurisdiction applies to defendants with less intimate ties to the forum state but […]


Tax Code, Regulations and Guidance

IRS Increases 2024 Federal Estate Tax Exemption and Gift Tax Exclusions: Key Points for Taxpayers

November 20, 2023

Via: JD Supra

Estate planning is a lot like putting together a puzzle. The client provides you with their box lid showing what they want the ultimate result of their plan to look like. Then, estate planners are tasked to identify and gather […]


Tax Code, Regulations and Guidance

Circling back on foreign tax credits

November 13, 2023

Via: POLITICO

A bipartisan crew of House members is urging the Treasury Department to give businesses a further break on new Foreign Tax Credit regulations. Treasury announced back in July that they were giving taxpayers a two-year reprieve from those rules, which […]