Following the enactment of Tax Reform, practitioners have been anxiously awaiting the announcement of the 2018-2019 Priority Guidance Plan to see what guidance has been prioritized.
New York Paid Family Leave Benefit Level and Premium Rate Increases Announced for 2021
Just in time for the holiday weekend, the New York State Department of Financial Services (DFS) released its Paid Family Leave (PFL) employee premium rate and benefit level increase information for 2021.
New York Federal Judge Expands Accessibility to the Families First Coronavirus Response Act by Striking Certain DOL Final Regulations
The Families First Coronavirus Response Act (“FFCRA”) went into effect on April 1, 2020 along with the Department of Labor’s (“DOL”) regulations, which described employer obligations and employee rights under the FFCRA’s paid sick time law and expanded family medical leave to include paid family medical leave benefits.
DFS Pursuing First Enforcement Action After Fortune 500 Company Ignores Warnings of Security Shortcomings
On Wednesday, July 22, 2020, almost three and a half years after the Department of Financial Services’ (DFS) cybersecurity regulations (23 N.Y.C.R.R. Part 500) became effective, DFS issued its first enforcement notice.
New Family and Medical Leave Act Forms Issued by Department of Labor
The United States Department of Labor’s Wage and Hour Division (WHD) recently unveiled updated optional forms that employers and employees may use when applying for and coordinating Family and Medical Leave Act (FMLA) leave.
Have Your Employees Completed the New York State Sexual Harassment Training?
The COVID-19 pandemic forced many employers to make difficult operational and personnel decisions to ensure the longevity of their business. Some businesses that were ordered to close may have been able to continue paying their employees, but many had to turn to layoffs or furloughs in order to survive.
U.S. Supreme Court Rules That Title VII Protects LGBTQ Workers
In a landmark decision, the U.S. Supreme Court in Bostock v. Clayton County, Georgia ruled that Title VII of the Civil Rights Act of 1964 (“Title VII”) protects lesbian, gay, and transgender employees from workplace discrimination.
Unemployment Fraud Scam - What You Need To Know
Employers in New York and nationwide have seen an increase in fraudulent claims for unemployment benefits.
CCPA Final Regulations Submitted for Expedited Review
On June 1, 2020, the Office of the California Attorney General submitted final regulations under the California Consumer Privacy Act (“CCPA”) to the California Office of Administrative Law (“OAL”) for expedited review.
DFS Issues Guidance in Light of COVID-19 Cyber Risks
Last week, the New York Department of Financial Services (“DFS”) issued guidance to entities it regulates about maintaining cybersecurity awareness during the COVID-19 pandemic. Businesses have likely already seen the numerous news alerts regarding the increased risk of cyberthreats as bad actors take advantage of the upheaval caused by the current health crisis. At the end of March, the FBI reported that its Internet Crime Complaint Center had already received over 1200 complaints of COVID-19-related scams.
New York Amends Voting Leave Law
On April 3, 2020, Governor Cuomo signed the New York State FY 2021 Budget (click here for our recent LEGALcurrents summary on the Budget) which included, among other things, amendments to the New York State Election Law.
The Rush to C Corporation that Wasn’t
In November 2017, the IRS released proposed regulations clarifying the estate tax treatment of large lifetime gifts made now, while the federal estate and gift tax exemption is temporarily increased thanks to the Tax Cuts and Jobs Act of 2017. These proposed regulations, if they go into effect as drafted, provide an opportunity for wealthy taxpayers to lock in the temporarily increased exemption by making large lifetime gifts.
In light of Sen. Elizabeth Warren’s (D-Mass) New Year’s Eve announcement that she is running for President, thus kicking off not only the new year, but also apparently the formal beginning of the Presidential campaign season, we thought it timely to consider the most recent estate tax proposal of Sen. Warren, and how it compares to the current state of the estate tax.
The IRS has issued preliminary guidance on an unexpected and controversial provision of the Tax Cuts and Jobs Act (the “Act”): a new UBIT tax on non-profit employee parking.