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Focus on the Fringes
The IRS is midstream in its now well-publicized expanded enforcement program, implemented, in significant part, through its “soft contacts” initiative. Somewhat surprisingly, the IRS has been forthcoming concerning the “hot spots” attracting its scrutiny. At the same time, however, the “soft contacts” spotlight is starting to attract the attention of state charity officials willing to assert jurisdiction in executive compensation controversies. Predictably, fueled by this regulatory attention, as well as published studies of executive compensation and loans, the media has expanded its coverage of nonprofit exposes.
The IRS has just published proposed regulations seeking to clarify the interrelationship between the requirements for tax-exempt status and the imposition of intermediate sanctions. This against the backdrop of the Senate Finance Committee hearings on Charitable Organizations, the Committee staff's recommendations for legislative reform (published earlier this year), and the more recently published Final Report of the Panel on the Nonprofit Sector.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.