Under Internal Revenue Code, Section 1031 (“Section 1031”), the taxpayer may exchange certain property for other like property and defer gain recognition on the relinquished property. The Tax Cuts and Jobs Act of 2017 (“TCJA”) limited the…
On October 30, 2020, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule (“Final Rule”) that amends Regulation F, 12 C.F.R. part 1006, which implements the Fair Debt Collection Practices Act, 15 U.S.C. 1692, et seq. (“FDCPA”).
On December 10, 2020 the U.S. Department of Health and Human Services, Office for Civil Rights (“HHS”) announced proposed modifications to the Health Insurance Portability and Accountability Act (“HIPAA”) Privacy Rule (45 CFR Parts 160 and 164). The…
On November 30, 2020, the Board of Governors of the Federal Reserve System, the OCC, and the FDIC released a statement that details the projected timeline of the transition away from the U.S. Dollar London Interbank Offered Rate (“LIBOR”). The…
The Centers for Disease Control and Prevention (“CDC”) made two key changes to its recommendations concerning COVID-19 on October 21, 2020 and December 2, 2020. These changes impact when an individual is required to quarantine after coming into…
On Friday, December 4th, 2020, the U.S. House of Representatives passed H.R. 3884, the Marijuana Opportunity Reinvestment and Expungement Act (MORE Act) by a vote of 228 to 164. If enacted, the MORE Act would end federal prohibition of cannabis,…
On November 18, 2020, the Internal Revenue Service (IRS) issued Revenue Ruling 2020-27 and Revenue Procedure 2020-51, which, respectively, provided additional guidance regarding the IRS position on the non-deductibility of expenses funded with…
Employers with non-exempt employees who travel to and from various worksites should review and be aware of the impact of a recently issued opinion letter, FLSA 2020-16, from the U.S. Department of Labor’s (“DOL”) Wage and Hour Division (“WHD”),…
On November 3, 2020, the Department of Labor (DOL) issued an Opinion Letter addressing various situations in which an employee was engaged in training activities and opined as to whether or not such training was compensable time under the Fair…
The HHS Office of Inspector General (“OIG”) published its intent to review some key measures the Federal government made in response to COVID-19. Those key measures include the Medicare program’s telehealth policy changes and oversight of funds…
“Our perfect companions never have fewer than four feet.” ~ Sidonie-Gabrielle Colette
Over time, dogs and other animals have played many roles in society that span beyond being comforting companions in our homes. Of these roles, arguably one of the…
On October 26, 2020, the Internal Revenue Service (“IRS”) announced the official estate and gift tax limits for 2021. Currently, the estate and gift tax exemption equivalent is $11.58 million per individual (or $23.16 million for a married couple).…
