On April 12, 2018, Governor Andrew Cuomo signed into law the New York State Budget Bill which includes several significant requirements to address workplace sexual harassment.
New York Temporarily Allows Remote Witnessing of Wills and Other Documents in Response to COVID-19 Pandemic
New Law Prohibits Employers from Discriminating Based on an Employee’s Reproductive Health Decision Making
On May 7th, the IRS introduced a new platform that will allow access to tax-exempt organizations’ public information more quickly and easily (See IRS-2018-116.) The Tax Exempt Organization Search (TEOS) replaces the old platform, EO Select Check. On TEOS, images of Form 990 recently filed will be available for the first time.
On April 24, 2018 the Securities and Exchange Commission (“SEC”) announced a settlement with Altaba, Inc., formerly Yahoo! Inc., for misleading investors by failing to disclose a data breach in which Russian hackers stole data for hundreds of millions of Yahoo accounts. This settlement and penalty, the first by the SEC following a data breach, comes in the wake of recent SEC guidance on cybersecurity risks and disclosures.
Under the Tax Cuts and Jobs Act, a new excise tax applies to compensation in excess of $1 million paid to any of the five most highly-compensated employees of an exempt organization as well as certain separation payments made to these individuals (roughly equal to three times base salary). It’s unclear, however, whether these apply to public colleges and universities.