Category: Current Events
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Developments in the Corporate Transparency Act
In a previous post, Analytics described the reporting requirements of the Corporate Transparency Act (“CTA”). In brief, the Corporate Transparency Act created new reporting requirements for companies regarding their Beneficial Owner Information (“BOI”) to the Financial Crimes Enforcement Network (“FinCEN”), a bureau within the US Department of Treasury. Recent Happenings On December 3, the U.S.…
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Would Changing the Electoral College Make a Difference?
Every presidential election cycle sparks debate over the Electoral College—its history, mechanics, and political impact. Many of these discussions focus on instances where the winner of the popular vote was not elected President, and often suggesting alternative methods for selecting the President. However, what’s rarely explored is whether these alternatives would have actually changed the…
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AI is only as smart as the internet
Punchline: an customer got rickrolled by an AI. So what actually happened? Lindy.AI is an AI company that creates AI tools, including tools for customer support, HR, recruiting and sales. The story goes that CEO Flo Crivello was reviewing the output from their AI when a new customer asked for a video tutorial on how…
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Estate Tax Implications of Connelly vs. IRS
Life insurance proceeds are considered corporate assets, and need to be included when calculating the value of the company, potentially imposing additional estate tax liabilities. There are multiple ways to avoid this, including designating the individual owners as beneficiaries of the life insurance policy rather than the corporation. Background Brothers Michael and Thomas Connelly were…
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NFL Opens Doors to Equity Firms
In a significant shift for the National Football League (NFL), recent changes to the league’s ownership rules now permit equity firms to invest in minority shares of teams. This development marks a major transformation in the way NFL teams can be financed and managed, potentially reshaping the league’s ownership landscape. The NFL is the last…
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Copyright Damages Can Extend Beyond Three Years
In certain circumstances. A 6-3 decision on Warner Chappell Music, Inc. v. Nealy held that damages for copyright infringement can include all infringing acts, not just damages in the past three years. Prior to this decision, damages were limited to a three-year period under the Copyright Act. Background Music from the now defunct Music Specialists,…
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Changes to FRE 702
Background: Federal Rules of Evidence 702, commonly referred to as “FRE 702”, governs the admissibility of expert witness testimony. This is the revised text of FRE 702: “A witness who is qualified as an expert by knowledge, skill, experience, training, or education may testify in the form of an opinion or otherwise if the proponent…
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The Corporate Transparency Act
What is the Corporate Transparency Act? Passed, in 2021, the Corporate Transparency Act creates new reporting requirements for companies regarding their “Beneficial Owners”, the individuals who directly or indirectly own or control the company. For most companies, this will be simple. For other companies, such as those that have many owners or officers, have a…
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SECURE 2.0 is here
Late 2022 Congress and President Biden passed the Consolidated Appropriate Act. Referred to as SECURE 2.0, it expands on the provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019, or SECURE Act. Secure 2.0 was passed with the goal of substantially improving retirement savings options. Despite the breadth and depth of…