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
We recently reported on the National Labor Relations Board’s McLaren Macomb decision, which held that employers commit an unfair labor practice by merely proffering a severance agreement including broad confidentiality and non-disparagement clauses, regardless of whether the employee actually signs the agreement. The Board’s General Counsel (“GC”) has now issued a Guidance Memorandum explaining her
On March 13, 2023, the U.S. Equal Employment Opportunity Commission (“EEOC”) released its Annual Report for fiscal year (“FY”) 2022, demonstrating a significant increase in the number of charges of discrimination filed with the agency, as well as emails and calls to the agency’s contact center, from the year prior.
A total of 73,485 new
The United States Department of Justice (DOJ) recently announced a nationwide policy that gives credits for companies that make “voluntary self-disclosures” for corporate misconduct. The policy builds on changes to DOJ’s Corporate Enforcement Policy that was announced in January.
The U.S. Attorneys’ Offices’ (USAO) Voluntary Self-Disclosure Policy, which was prepared by a Corporate Criminal
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
On February 22, 2023, the United States Supreme Court issued a 6-3 decision holding that an employee who is paid a day rate (without any weekly guarantee) must be paid overtime under the Fair Labor Standards Act (“FLSA”) because day rates are inconsistent with the Department of Labor (“DOL”) regulations governing many exemptions from the
Today the Louisiana Department of Revenue issued Revenue Information Bulletin No. 23-009, concerning partnership filing requirements for the 2022 tax year. The purpose of the RIB is to specifically provide administrative filing relief for certain eligible partnerships with regard to the 2022 tax year. However, the RIB does indicate that at the appropriate time these
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
The U.S. Department of Labor (“DOL”) announced today that it will publish a Notice of Proposed Rulemaking on October 13, 2022, in order “to help employers and workers determine whether a worker is an employee or an independent contractor under the Fair Labor Standards Act.” This marks the Biden Administration’s second attempt to rescind the
Employers may no longer require Covid-19 testing for on-site employees across the board. The Equal Employment Opportunity Commission (EEOC) announced on July 12, 2022, that “going forward employers will need to assess whether current pandemic circumstances and individual workplace circumstances justify viral screening testing of employees to prevent workplace transmission of COVID-19.”
This means that