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Monthly Archives: December 2021
IRS issues guidance regarding the retroactive termination of the Employee Retention Credit
The Internal Revenue Service today issued guidance for employers regarding the retroactive termination of the Employee Retention Credit. The Infrastructure Investment and Jobs Act, which was enacted on Nov. 15, 2021, amended the law so that the Employee Retention Credit … Continue reading
Posted in Taxation
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No Service, No Default
Sheriff’s return of service constituted prima facie evidence of service on the person named on the form, but the form did not correctly describe that person, so the prima facie evidence did not show service. Affidavits contesting whether the person … Continue reading
Posted in General
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Boy Scouts Insurer Chubb to Pay $800 Million in Sex-Abuse Compensation Deal
The Boy Scouts of America, which filed bankruptcy last year over a growing wave of lawsuits from abuse survivors, has apologized. The Boy Scouts reached an $800 million settlement with Chubb Ltd.’s Century Indemnity Co. over childhood sexual abuse within … Continue reading
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Annual Inflation Rises to 6.8 Percent, the Highest Rate Since 1982
Consumer prices surged 6.8% in the year leading into November and 0.8% last month alone as a roaring economy overwhelmed struggling supply chains fueling inflation. The consumer price index (CPI), a closely watched gauge of inflation, rose sharply in November. … Continue reading
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Indiana Bankruptcy Petition Preparer Sentenced in Federal Court
Ronya Phillips of Goshen, Indiana, was sentenced to serve 18 months home detention upon her plea of guilty to two counts of suborning perjury. Phillips was formerly a bankruptcy petition preparer in which she prepared bankruptcy petitions and other documents … Continue reading
Posted in Bankruptcy
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Puerto Rico Mayor, Official Charged in U.S. Corruption Case
Ángel Pérez Otero, the mayor of Guaynabo, one of the wealthiest cities in Puerto Rico, was arrested on corruption charges. He faces three counts, including bribery and extortion, and is accused of regularly accepting payments of $5,000 in exchange for … Continue reading
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Malls Ditch Shopping to Fill Large Number of Vacant Retail Stores
Battered mall owners need to fill more than 90 million square feet, about the size of 16 Mall of Americas, heading into 2022. With dozens of retail chains already cutting back or shutting down, it won’t get any better if … Continue reading
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CEO of Private Jet Charter Company Convicted of Bankruptcy Fraud
A federal judge convicted a Reston businessman yesterday on a series of fraud charges relating to a bankruptcy case in which he discharged over $6 million in personal debt, according to a DOJ press release. According to court records and … Continue reading
Posted in Bankruptcy, General
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Tax benefits of making a business accessible to workers and customers with disabilities
Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible for tax credits and deductions. Here’s an overview of the tax incentives designed to encourage employers to hire qualified people with disabilities and … Continue reading
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Self-Described Bitcoin Creator Must Pay $100 Million in Suit
The Australian computer scientist who claims he invented Bitcoin was told by a U.S. jury to pay $100 million in damages over claims that he cheated a deceased friend over intellectual property for the cryptocurrency, Bloomberg News reported. Jurors in … Continue reading
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