As of September 11, 2018, the US Citizenship & Immigration Services (USCIS) implemented a new policy which states an officer reviewing a recently filed petition has the discretion to outwardly deny the petition without first issuing a Request for Evidence or a Notice of Intent to Deny. This policy is intended to encourage petitioners to submit as Read More »
The Federal Reserve's Alternative Reference Rates Committee recently recommended the Secured Overnight Financing Rate (SOFR) as an alternative for the London interbank offered rate (LIBOR). LIBOR is the index rate frequently used in tax-exempt bonds, commercial loans and mortgages and interest rate swaps and other derivatives to establish the interest rates payable by borrowers and Read More »
There are times when cases presented to this office involve a dancer who has transitioned from being a highly successful competitive dancer to coach or performer. As more years pass between the dancer's last competition and the dancer's current work as a coach or performer, there may be concerns about using older results to support Read More »
As part of the New York State budget signed by Governor Cuomo earlier this year, sweeping legislative changes were made to strengthen sexual harassment laws. Two major changes, which become effective October 9, 2018, require employers to adopt a robust sexual harassment prevention policy and provide annual sexual harassment prevention training. This reform, which was Read More »
Enacted in December 2017, the Tax Cuts and Jobs Act of 2017 (the "TCJA") contains a provision that incentivizes long-term investments in economically distressed areas designated as Opportunity Zones ("OZ"). The TCJA added §1400Z to the Internal Revenue Code (the "IRC"), which provides for the deferral of capital gains tax, a step-up in basis, and Read More »
The Authorities Budget Office ("ABO") has proposed a new rule which will codify Industrial Development Agencies' ("IDAs") existing website posting requirements under Section 859-a of the General Municipal Law ("GML"). The rule will require IDAs to post all policies and forms (both blank and project specific) to their websites. The ABO notes the proposed rule Read More »
The Securities and Exchange Commission ("SEC") announced on August 20, 2018, the adoption of amendments to Rule 15c2-12 of the Securities Exchange Act of 1934 (the "Rule") relating to debt and other financial obligations undertaken in a direct placement. Compliance with the changes will be required 180 days after publication of the amendments in the Federal Register. Read More »