Thoughtful Insight and Updates on Legal Issues that Matter to You

Perspectives

New Clarification on UTP Disclosures from the IRS

In the aftermath of the release of the final Schedule UTP, IRS officials have been offering clarifications on several key issues that are of great concern to taxpayers. Service officials have also stated that further guidance on filing Schedule UTP may come before the end of the year.

McConnell Says Republicans Must Block Obama Tax Hikes

U.S. Senate Republican Leader Mitch McConnell (R-KY) spoke on November 4, 2010 at the Heritage Foundation in Washington, D.C., laying out his roadmap for the future of the Republican Party […]

Tea Party May Throw Kink Into GOP Trade Policies

By Ryan Davis Law360, New York (November 03, 2010) — In the past, a sweeping election win for Republicans reliably translated into wide support for free trade measures. That may […]

2,923 Small Biotechnology Companies to Receive $1 Billion in New Therapeutic Discovery Project Credits and Grants

On November 3, the Secretary of the Treasury, the Secretary of Health and Human Services, and the National Institute of Health Director announced recipients of the $1 billion in new therapeutic discovery project credits and grants created by the Affordable Care Act.

U.S. Attorney’s Office For the Southern District Of Florida Increasing Training And Expanding To Combat Fraud

The U.S. Department of Justice has granted the request of the US Attorney for the Southern District of Florida, Wifredo Ferrer, for additional resources and manpower as the US Attorney’s office struggles with its efforts to combat rampant fraud in South Florida.

Arizona Aviation Company Indicted for Violating Arms Export Control Act

On October 28, 2010, a federal grand jury indicted Floyd Stilwell, president and CEO of Marsh Aviation Co., an Arizona company for violating the Arms Export Control Act. The indictment charges that Stilwell and his company were part of a conspiracy to ship arms to Venezuela from November 2005 until February 2008.

Can 5,783 People and Businesses be Wrong? IRS Inundated with Comments on Proposed Tax Preparer Regulations

Between the end of July and the beginning of November, the IRS reports that over 5,000 people and businesses “ predominantly certified public accountants (CPAs) “ have filed public comments […]

Florida Ranked #5 Nationally in Business Tax Climate

The Tax Foundation, a nonpartisan, nonprofit organization that monitors fiscal policy nationwide, has released its 2011 edition of the State Business Tax Climate Index, which ranks from 1 (best) to […]

CBP Loosens the Reigns on Information Sharing for Customs Brokers

CBP recently proposed to amend federal regulations to allow customs brokers greater leeway in sharing confidential client information, with the clients written consent. Under the proposed amendments to 19 C.F.R. […]

FDA Embarks on New “Swift and Aggressive” Enforcement Approach

The FDA has recently published its Strategic Priorities document on its website. Found here, the draft document outlines the Agency’s goals for the years 2011-2015. According to the document, a variety of new programs will be instituted by the FDA in order to “sharpen the effectiveness and timeliness of its regulatory, compliance, and enforcement systems.” Reinforcing its commitment to “swift, aggressive enforcement actions to protect public health,” the goals contained in this document mirror those found in the Agency’s recent Enforcement Strategy document.