Internet Privacy – We Have a (Tentative) Deal with Europe
On February 2, 2016, a day after the European Union (EU) deadline had passed, the US and the European Union announced a deal on the methods by which US businesses can gather personal customer information from across the Atlantic without violating EU regulations on internet privacy.
Filing a Section 83(b) Election: Did Your Client Miss the 30-Day Deadline?
A recurring issue for many business lawyers involves an employee who receives stock subject to vesting conditions. The normal approach is to have the employee file a “Section 83(b) election” with the IRS within 30 days of receiving the stock. The Section 83(b) election is an election to recognize any income associated with the stock grant immediately upon receipt of the stock. If the employee does not file the Section 83(b) election within 30 days of the grant date, the employee is generally forced to recognize the stock value as income as he or she satisfies the vesting conditions – which will often happen at a time when the stock has appreciated and the amount of taxable income has correspondingly increased.
I Just Bought a Bottle of Paul Newman Salad Dressing!
Many businesses promise their customers to devote some percentage of the business’s revenue or profits, or some fixed amount per purchase, to worthy or charitable causes. Sometimes, this is motivated by genuine humanitarian instincts. Sometimes, it is merely a marketing device. Often, the altruistic motivations blend together with the advertising angle.
Internet Privacy – Europe Rejects US Safe Harbor Standards as Inadequate
In early October, the European Court of Justice, an EU tribunal, declared that the US Department of Commerce safe harbor standards for ensuring internet privacy were insufficient under EU law.
New Tax Law Signed in Late July – Changes in Income Tax Filing Dates for Corporations and Partnerships
President Obama signed an eleventh-hour extension of a highway-spending bill on July 31, 2015. Tucked away in the corners of this legislation are a few gems that will have an impact on business lawyers and CPAs across the country.