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 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.
Cadwalader attorneys analyzed recent guidance by the Delaware Court of Chancery on the interplay between "boilerplate" merger agreement provisions and "bespoke" provisions that are drafted for a specific transaction.
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.
An IRS and U.S. Treasury Department notice of proposed rulemaking relating to the new Opportunity Zone tax incentive was published in the Federal Register. Comments on the proposal must be submitted by December 28, 2018.