On Wednesday, September 27, the Treasury Department announced a new proposed rule extending the deadline for companies formed in 2024 to comply with the Corporate Transparency Act’s beneficial ownership and control reporting rules. 

The Corporate Transparency Act requires most existing and most new businesses to file a detailed report with FINCEN (the United States Treasury’s Financial Crimes division) detailing who the major owners and managers are.  Currently, the filing period commences January 1, 2024.

On June 27, the Federal Trade Commission, with the concurrence of the Department of Justice, proposed a burdensome overhaul of the current requirements for Hart-Scott-Rodino (“HSR”) Act filings, which are generally required for larger mergers and acquisitions. The changes stand to greatly increase the volume of documents that the FTC and DOJ receive, resulting in unprecedented delays in the merger process and placing an added burden on businesses and practitioners.

New IRS guidance confirms no step up in basis for grantor trust assets that are not included in the decedent’s estate.

Rev. Rul. 2023-02 clarifies that the basis adjustment under section 1014 of the Internal Revenue Code does not apply to “step up” the basis for assets in grantor trusts treated as owned by the

The National Labor Relations Board (“NLRB”) ruled this week in the McLaren Macomb case, a decision applicable to both non-unionized and unionized employers, that merely including standard confidentiality and non-disparagement provisions in a severance agreement violates the National Labor Relations Act (the “Act”).  The new Biden administration Board found that such provisions “interfere with, restrain

The SECURE 2.0 Act of 2022 (“SECURE 2.0”), signed into law by President Biden on December 29, 2022, is another round of retirement reforms that began with the original SECURE Act (i.e., the “Setting Every Community Up for Retirement Enhancement Act”) passed in 2019. SECURE 2.0 is memorialized in “Division T” of the