As noted in our prior advisory, the IRS may impose significant penalties on U.S. citizens and residents who receive gifts exceeding certain thresholds from foreign persons and who fail to report those gifts to the IRS. A 2023 U.S. Tax Court decision potentially created a new defense against such penalties. Andrew Lee discusses the May 3, 2024, U.S. Court of Appeals for the District of Columbia Circuit that reversed the Tax Court’s decision and how, despite the D.C. Circuit’s decision, taxpayers may still have potential arguments against the imposition of penalties for the failure to report foreign gifts. https://lnkd.in/e9C9YkFy
Kelley Drye & Warren LLP
Law Practice
New York, New York 11,650 followers
A powerhouse firm with the heart of a boutique. AmLaw 200, Chambers ranked, full service law firm.
About us
Kelley Drye is an AmLaw 200 law firm of more than 350 lawyers and other professionals practicing in New York, NY; Washington, D.C.; Los Angeles, CA; San Diego, CA; Chicago, IL; Stamford, CT; Parsippany, NJ; and Houston, TX. A powerhouse firm with the heart of a boutique, Kelley Drye & Warren LLP values the success of our clients above all. Skilled practitioners in the areas of litigation, regulatory, real estate, corporate and bankruptcy combine talents to address the unique complexities of our clients’ legal challenges. We are practical in our advice and creative in our approach. Founded in 1836, we’ve got history behind us, and we’re just getting started. For more than 180 years, Kelley Drye has provided legal counsel carefully connected to our client’s business strategies and has measured success by the real value we create. We apply a wealth of experience to 21st century business problems. Follow us on Twitter @KelleyDrye and on Instagram @kelleydryewarren The New York Rules of Professional Conduct may consider content on this page to be attorney advertising. Prior results do not guarantee a similar outcome.
- Website
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http://www.kelleydrye.com
External link for Kelley Drye & Warren LLP
- Industry
- Law Practice
- Company size
- 501-1,000 employees
- Headquarters
- New York, New York
- Type
- Partnership
- Founded
- 1836
Locations
Employees at Kelley Drye & Warren LLP
Updates
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Maryland joins the wave of wage transparency legislation sweeping the nation, with the recent passage of Bill 649 expanding the state's Equal Pay for Equal Work Act. If signed by the governor, the bill will require Maryland employers of any size to include salary ranges in job solicitations and advertisements. See Mark Konkel and Benjamin Gilman's latest Labor Days post for more on this significant development and links to their previous posts on similar wage and pay transparency requirements under the NYC Pay Transparency Law and California’s laws governing pay transparency. https://lnkd.in/ekTawPSB #PayTransparency
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Last week, the Consumer Financial Protection Bureau released an insightful report on rewards/loyalty programs, aligning with a joint hearing alongside the Department of Transportation. While focusing on credit card rewards, the report highlights crucial takeaways for any company involved in rewards/loyalty programs. For a summary of the key details, check out Donnelly McDowell's latest blog post. https://lnkd.in/eT_mskjY
CFPB Report and Hearing with DOT Highlight Risks with Rewards Programs
kelleydrye.com
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Dominique Wilkins, NBA Hall of Famer and diabetes advocate, is taking legal action over his image being used without consent to promote a diabetes supplement. Gonzalo Mon weaves through the details of Wilkins’ lawsuit to help you sidestep possible legal fouls. https://lnkd.in/eij8N2M7 #AdvertisingLaw #AdLaw
NBA Hall of Fame Player Sues Over Unauthorized Use of Image
kelleydrye.com
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Kelley Drye & Warren LLP reposted this
Kelley Drye & Warren LLP is proud to join in celebrating Asian American, Native Hawaiian and Pacific Islander Heritage Month. We reflect upon the rich diversity within Asian American, Native Hawaiian and Pacific Islander communities and appreciate the ways in which these communities contribute to and enrich American history and culture.
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The rumors that the California AG’s office would provide more clarity on California’s "Hidden Fees" law turned out to be true. Gonzalo Mon and Beth Chun's latest blog post summarizes some of the more notable answers from the set of FAQs released this week related to SB 478, which takes effect on July 1, 2024. https://lnkd.in/ejQP_B8p #HiddenFees #AdvertisingLaw #AdLaw
California Issues FAQs on Hidden Fee Law
kelleydrye.com
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We hosted an event last night in partnership with NALSC: the National Association of Legal Search Consultants. New York Managing Partner Rob Steiner welcomed everyone, and Labor and Employment practice Chair Mark Konkel offered a great presentation and Q&A session on Pay Transparency laws geared toward the recruiters in attendance.
Legal Recruiter focused on the placement of lateral partners and lateral partner groups; in-house placements
Great NALSC regional meetup tonight! Thanks to Stephanie Casker and Kelley Drye for organizing and hosting!! As always, thanks to our members and Stephanie Ankus for making this happen! #nalsc #legalrecruiting
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Join Kelley Drye’s State Attorneys General Ad Law team for the next program in their State Attorneys General Webinar Series led by Co-Chair, Paul Singer, Special Counsel Abigail Stempson and Senior Associate Beth Chun. This month features First Assistant Attorney General Brent Webster, of the state of Texas. Under Webster’s leadership, Texas has filed a number of high profile consumer protection cases and launched a number of investigations that will be discussed during the webinar. Register now: https://lnkd.in/gu3vub3J
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Missed Laura Riposo VanDruff on the recent "Another Privacy Bill on Capitol Hill" webinar with Daniel Solove and Jules Polonetsky? Catch a recording of the program here: https://lnkd.in/g2A2u_SK
VIDEO Webinar: Another Privacy Bill on Capitol Hill: The American Privacy Rights Act https://lnkd.in/eS3p7XCu Prof Daniel Solove is joined by Jules Polonetsky (FPF) and Laura Riposo VanDruff (Kelley Drye & Warren)
Webinar American Privacy Rights Act
https://www.youtube.com/
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With less than two months until California’s "Hidden Fees" law goes into effect companies still need more clarity on how to comply. Read more in the latest blog post from Gonzalo Mon and Beth Chun. https://lnkd.in/ghSxdAGq #HiddenFees #AdvertisingLaw #AdLaw
California DOJ Dispels Myths on New Hidden Fee Law
kelleydrye.com