ANALYSIS: Pushing the Limits of U.S. Securities Laws: ‘Foreign-Cubed’ Cases

The Supreme Court is poised this Term to address one of the hot issues in securities class-action litigation: the extent to which the U.S. securities laws…

Attorneys Who Fail to Disclose Foreign Opposition May Face Sanctions, Justice Department Official Says

Attorneys who deal with foreign cases and documents were told March 5 by a Department of Justice Tax Division attorney that there is no Fifth Amendment…

Bill to Implement Expanded Foreign Bank Reporting Proposals Expected to be Enacted Soon

Legislation that would put in place the provisions of the Foreign Account Tax Compliance Act, with a host of new reporting and disclosure requirements for…

Government Officials Expect Net Operating Loss Carryback Guidance on Consolidated Groups Soon

The Internal Revenue Service and the Treasury Department expect to release soon guidance on a new net operating loss carryback tax code provision that will…

IRS Offers Safe Harbor Where Qualified Intermediary Default Prevents Completion of Property Exchange

The Internal Revenue Service March 5 provided a safe harbor method for deferred reporting of gain or loss by taxpayers unable to complete a like-kind…

IRS Says Uncertain Tax Positions Proposal Not for 2009 Returns, Seeks More Comments

The Internal Revenue Service said March 5 it is extending the time for submission of comments on its recent proposal for mandatory reporting of uncertain tax…

ANALYSIS: With U.S. GAAP/IFRS Convergence Now an SEC Priority, Taxpayers Need to Consider Potential Multistate Impacts

As the financial crisis on Wall Street has subsided, the SEC is shifting its focus back to the proposed convergence of generally accepted accounting principles…

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