April 20, 2021 – Alerts
By Matthew D. Lee and Marissa Koblitz Kingman
The Justice Department continues to intensify its crackdown on COVID-19 relief program fraud, a clear indication that any individual or business that has benefited from the government aid should expect enhanced scrutiny from various government agencies in the coming months and possibly…
By Patrick J. Egan, Joshua Horn and Stephanie Ohnona
Two businessmen have been convicted in U.S. District Court for the Southern District of New York of helping a California-based cannabis company avoid bank flags for illegal cannabis-related transactions. A New York jury found the men guilty of bank fraud conspiracy in violation of 18…
Matthew S. Adams and Marissa Koblitz Kingman have authored an article for New Jersey Lawyer entitled “The Nuts and Bolts of Compassionate Release Applications for Federal Inmates.” You can read the full article here.
Joshua Ashby and Kimberly L. Kwan have co-authored a Corporate Compliance Insights article entitled “How the Corporate Transparency Act Shakes Up AML: Beneficial Ownership Updates and More.” Their article addresses the recently-enacted Corporate Transparency Act, and how that new law changes what constitutes beneficial ownership and establishes more robust automated data collection. In addition, the…
By Matthew D. Lee and Marissa Koblitz Kingman
The Justice Department has widened its crackdown on COVID-19 fraud, announcing the first criminal case alleging misuse of federal relief funds designated for medical providers. The egregious nature of the alleged fraud and relatively small amount of funds involved provide valuable clues about the pace, breadth and…
In recognition of the continuing economic hardship caused by the COVID-19 pandemic, the Internal Revenue Service is easing its collection activities to avoid the seizure of bank accounts containing either Economic Impact Payments or Paycheck Protection Program loan proceeds.
In a guidance memorandum issued to all collection employees, the IRS has directed that before issuing…
The U.S. Justice Department announced its first civil settlement with a Paycheck Protection Program borrower alleged to have committed fraud in connection with this highly popular COVID-19 relief program. A bankruptcy online retailer and its chief executive officer agreed to pay $100,000 in damages and penalties to resolve claims that they committed fraud in connection
…
On January 12, 2021, please join members of Fox’s Tax Controversy team for a review of recent developments in federal tax controversy and civil and criminal tax enforcement, as well as a look ahead at what 2021 may hold. Matthew D. Lee, Jerald David August and Vivian Hoard will review recent developments in federal…
By Maureen Monaghan and Adam Young
The Consolidated Appropriations Act, 2021 (Act), signed into law on December 27, 2020, amends certain tax provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Families First Coronavirus Response Act (FFCRA). It also clarifies the tax treatment of Paycheck Protection Program (PPP) loan forgiveness,…
The $900 billion Consolidated Appropriations Act of 2021 (the Act) modifies the Paycheck Protection Program (PPP) in a variety of business-friendly ways likely to benefit both existing PPP borrowers and businesses that receive a second PPP Loan.
Specifically, the Act includes the following noteworthy changes:
The Act…
This website uses cookies to improve your experience. By continuing to browse our website you consent to our use of cookies as set forth in our Cookie Policy. Learn More
