Notification Regarding the Corporate Transparency Act

Pursuant to the Corporate Transparency Act (“CTA”), starting January 1, 2024, domestic reporting companies and applicable foreign reporting companies will need to report information to the Financial Crimes Enforcement Network (“FinCEN”) regarding the identities of their beneficial owners, which include: (1) persons who directly or indirectly own or control at least 25% of the reporting […]

PNR Newsletter.pdf

The IRS recently issued Notice 2022-36, which provides a potential opportunity for penalty relief to certain people and businesses who file certain 2019 and 2020 tax and information returns late. The relief applies to the failure to file penalty which is typically assessed at a rate of 5% per month and up to 25% of […]

Leslie Share recently presented “Making Changes to Irrevocable Trusts: What Can You Do?” for National Business Institute. This webinar reviews how practitioners may “fix” otherwise “broken” irrevocable trusts using techniques such as general and limited powers of appointment, Trust Protector amendments, substituting “outside” property, tax reimbursement clauses, judicial and nonjudicial modification, judicial reformation, settlement agreements […]

H-1B season is here! There are 65,000 available each year with an additional 20,000 allotted to foreign nationals with U.S. earned master degrees. Last year, there were H-1B petitions filed, causing USCIS to conduct a lottery to determine which cases would be accepted for processing. For the third year in a row, USCIS will be […]

U.S. Citizenship and Immigration Services (USCIS) has issued confirming that, effective November 12, 2021, certain dependent spouses of individuals in H-4, E and L status will qualify for an automatic extension of work authorization up to 180 days. Employers should accept the following documents for I-9 Employment Eligibility Verification purposes during the automatic extension period: […]