The SECURE 2.0 Act requires catch-up contributions (i.e., additional retirement plan contributions made by participants who are age 50 or older) made by higher-income participants to be designated as after-tax Roth contributions (the “Mandatory Roth Catch-up Requirement”). This new Mandatory Roth Catch-up Requirement was originally scheduled to take effect for taxable years beginning after December 31, 2023. However, the IRS granted an administrative transition period (through December 31, 2025) during which catch-up contributions made by higher-income participants were treated as satisfying the requirements even if they were not designated as Roth (see IRS Notice 2023-62). In January, the Department of… Read more
In two recent decisions, the New York Appellate Division held that a limited liability company (“LLC”) that does not sign its own operating agreement is not bound by the terms of that agreement; only its signatory members are bound. This holding opens the door to the unwelcome dynamic where LLC members may be bound to the bargained for rights and obligations by which they intended to govern the LLC, but the LLC is not. The operating agreement of an LLC is generally accepted as the foundational document of any LLC, providing for how the company will be governed as well… Read more
Gli obblighi di segnalazione delle informazioni sul beneficiario effettivo (BOI) ai sensi della nota Legge CTA sono ufficialmente tornati in vigore. Il 18 febbraio 2025, la Corte distrettuale degli Stati Uniti per il distretto orientale del Texas ha accolto l’appello del Dipartimento del Tesoro degli Stati Uniti per la sospensione dell’ordinanza del tribunale che concedeva un’ingiunzione preliminare a livello nazionale contro l’applicazione del Corporate Transparency Act nella causa Smith vs. U.S. Department of the Treasury. Poiché questa sentenza ha revocato l’unica ingiunzione nazionale rimasta sull’applicabilità del CTA, la FinCEN [United States Department of the Treasury Financial Crimes Enforcement Network |… Read more
The reporting obligations for filing Beneficial Ownership Information Reports under the Corporate Transparency Act are officially back in effect. On February 18, 2025, the United States District Court for the Eastern District of Texas granted the United States Department of the Treasury’s appeal for a stay of the court’s order granting a nationwide preliminary injunction against the enforcement of the Corporate Transparency Act (CTA) in Smith v. U.S. Department of the Treasury. As this ruling lifted the only remaining national injunction on the enforceability of the CTA, FinCEN has stated that Beneficial Ownership Information (BOI) reporting requirements under the CTA… Read more
Il 5 febbraio 2025, il Dipartimento del Tesoro degli Stati Uniti ha presentato un ricorso presso la Corte distrettuale degli Stati Uniti per il Distretto orientale del Texas per ottenere la sospensione dell’ordinanza del tribunale che concedeva un’ingiunzione preliminare a livello nazionale contro l’applicazione del Corporate Transparency Act (CTA) nel caso Smith v. U.S. Department of the Treasury. Tra le sue argomentazioni, il governo ha citato la sentenza della Corte Suprema degli Stati Uniti nel caso Top Cop Shop del Texas, che ha concesso la sospensione di un’ingiunzione preliminare a livello nazionale che aveva bloccato l’applicazione del CTA emessa da… Read more
U.S. Citizenship and Immigration Services (USCIS) has announced that the registration period for the fiscal year 2026 H-1B Cap will begin at noon Eastern on March 7, 2025, and will remain open until noon Eastern on March 24, 2025. During this period, employers can register each beneficiary for the selection process and pay the associated registration fee for each beneficiary electronically. By March 31, USCIS will notify employers of their selections via their online accounts. Selected beneficiaries will have 90 days to submit their H-1B petitions to USCIS for a visa start date of October 1. Key Changes for FY 2026 Registration… Read more
On February 5, 2025, the United States Department of the Treasury filed an appeal with the United States District Court for the Eastern District of Texas for a stay of the court’s order granting a nationwide preliminary injunction against the enforcement of the Corporate Transparency Act (CTA) in Smith v. U.S. Department of the Treasury. Among its arguments, the government cited the ruling of the United Stated Supreme Court in the Texas Top Cop Shop case which granted a stay of a nationwide preliminary injunction that had halted the enforcement of the CTA issued by a different district court in… Read more
La città di New York ha recentemente emanato il Fair Chance in Housing Act (la “Legge”) che vieta di chiedere o raccogliere informazioni sui precedenti penali di un richiedente l’alloggio prima di approvare la domanda. La legge si applica a tutti i proprietari, locatori, consigli di amministrazione e ai loro dirigenti e investigatori, compresi i consigli di cooperativa che esaminano le domande di acquisto, i consigli di cooperativa o di condominio che affittano o vendono appartamenti e, forse, i consigli di condominio che esercitano il diritto di prelazione o altre revisioni di proposte di vendita in cui vengono utilizzati controlli… Read more
Con l’insediamento di Donald J. Trump alla presidenza, l’applicazione delle norme sull’immigrazione è diventata una priorità assoluta, come dimostrano il discorso inaugurale e gli ordini esecutivi del presidente Trump. Sebbene non si sappia ancora quale sarà l’impatto sui datori di lavoro, si prevede che una componente essenziale sulla politica immigratoria della nuova amministrazione sarà un aumento delle verifiche delle norme applicabili ai posti di lavoro e delle verifiche circa l’utilizzo del modulo I-9 per la verifica di idoneità all’impiego. L’Immigration Reform and Control Act del 1986 (“IRCA”) vieta ai datori di lavoro di assumere persone non autorizzate a lavorare negli… Read more
The Supreme Court has stayed the nationwide injunction blocking the enforcement of the Corporate Transparency Act (CTA), but FinCEN says that Beneficial Ownership Information (BOI) reporting remains voluntary. On January 23, 2025, the Supreme Court granted the Government’s application for stay of the injunction issued by the United States District Court for the Eastern District of Texas in the Texas Top Cop Shop, Inc., et al. v. McHenry, et al. case.[1] The Supreme Court stayed the nationwide injunction pending the ruling on the appeal in the United States Court of Appeals for the Fifth Circuit. Oral arguments regarding the constitutionality… Read more
