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Settling Alimony Obligations
Two recent cases suggest an important difference between the current tax treatment of alimony payments and the pre-1984 treatment of alimony payments. 'Alimony,' of course, is a defined term, and the definition can be structured to include whatever transfers seem appropriate from a tax policy perspective as distinct from the meaning of the term for state law purposes. Under current law, a cash payment from one former spouse to the other will be included in the income of the recipient and deductible by the payor if it meets four conditions: 1) the payment is made under a divorce or separation instrument; 2) it is not designated as not includable/nondeductible; 3) the former spouses do not live in the same household; and 4) the payor is not legally obligated to make the payment or a 'substitute' for the payment after the death of the recipient. I.R.C. ' 71(b)(1). Missing from this list are the requirements of prior law that cash payments be 'periodic' and that they be made to discharge the payor's obligation to support the payee. A lump sum cash payment that meets the statutory requirements could, therefore, be taxable alimony.
Lump Sum Payments
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
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.
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.