The DOJ filed charges against the owner of two companies in Florida that provide Medicare services for submitting false and fraudulent claims in order to receive (i) reimbursement from Medicare and (ii) loans from the Paycheck Protection Program.
The DOL adopted a rule amendment to create a new safe harbor which allows certain employee benefit plan administrators to provide plan participants with information using electronic media as the default method of delivery.
The IRS issued final regulations removing "minimum documentation requirements that ordinarily must be satisfied in order for certain related-party interests in a corporation to be treated as indebtedness for Federal tax purposes."
Cadwalader attorneys reviewed recently proposed IRS regulations confirming that transitions from LIBOR and other interbank offered rates to alternative reference rates in debt instruments and derivatives will not be taxable events.
The IRS proposal amending certain regulations to address the transition from interbank offered rates to other reference rates for debt instruments and non-debt contracts was published in the Federal Register.
An investment fund challenged an IRS determination that various contracts entered into between the fund and an investment bank resulted in the fund having effective ownership of the positions that were the subject of the contracts.
U.S. Treasury Deputy Secretary Justin Muzinich highlighted developments in housing finance reform, Committee on Foreign Investment in the United States reform, digital taxation, and cryptocurrency policy.
Elizabeth Warren (D-MA), Tammy Baldwin (D-WI), Sherrod Brown (D-OH), Mark Pocan (D-WI) and Pramila Jayapal (D-WA) introduced a bill to govern the private funds that engage in change in control transactions.
A U.S. District Court granted a DOJ and IRS request to uncover the identities of Finnish residents who may be using U.S.-issued payment cards in Finland to avoid reporting income and paying Finnish income tax.
The SEC Division of Investment Management granted no-action relief to certain Puerto Rico retirement plans that participate in "bank-maintained" collective trust funds from the requirement to register - such trust funds as investment companies and the beneficial interests in such trust funds.