Charitable Planning With Guest Stephanie Hood: Navigating Complex Rules and Traps for the Unwary
Once Removed Episode 11: Spousal Lifetime Access Trusts, or SLATs
The Line Between Gift Giving and Bribery
Hedge Fund Guy and the Terrible, Horrible, No Good Very Bad Statue
The Federal Gift Rules Assistant: What You Need to Know and Why
NGE On Demand: GRAT Trusts with Eric Mann
To Give or Not to Give: Considerations for Year-End Gifting
Lifting the Fog Over Lobbying Compliance - updated with impact of COVID-19 on NYS lobbying community
The Trump Administration stated last week that it will prioritize compliance and enforcement against colleges and universities with respect to the U.S. Department of Education (ED)'s foreign gift, contract and ownership...more
Cryptocurrency has revolutionized the financial markets but also created tax traps for the unwary investor. Building on proposed regulations issued last year, the IRS recently increased its oversight of cryptocurrency...more
Now that the legislative session is underway—and the 2024 election is fast approaching—organizations that work to influence public policy or elections should focus on the significant changes to Minnesota’s lobbying and...more
Wealthy families should consider taking advantage of the favorable estate planning environment that 2024 brings. Next year, the estate, gift, and generation-skipping transfer tax exemptions, which are adjusted annually for...more
McDermott’s Private Client Practice led interactive discussions on a broad range of topics pertinent to ultra-high-net-worth families, their family office representatives and other advisors at our Private Client West Coast...more
Congressional Republicans are increasingly focused on ensuring that U.S. colleges and universities are properly disclosing gifts and contracts from foreign sources under Section 117 of the Higher Education Act of 1965, 20...more
This advisory summarizes Section 117 requirements and enforcement, highlights key aspects of the updated guidance, and identifies considerations for higher education institutions given the U.S Department of Education’s...more
El servicio de impuestos internos de Estados Unidos (Internal Revenue Service o IRS) recientemente anunció una amnistía nueva que permite presentar ciertas declaraciones de 2019 y 2020 sin multa antes del 30 de septiembre de...more
ADDED BY POPULAR DEMAND: Virtual Conference for Higher Education Compliance - Attend SCCE’s virtual Higher Education Compliance Conference, November 8, 2022, and hear from experienced professionals on a range of higher...more
Summary - Effective July 1, 2022, Maryland will expand its lobbyist employer reporting requirements. The same day, Vermont’s recently enacted Code of Ethics will take effect regarding gifts to public servants....more
Foreign Gifts and IRS Reporting - U.S. persons who receive gifts or bequests from foreign persons beware—these gifts or bequests may need to be reported to the Internal Revenue Service (“IRS”). The consequences for failing...more
Since January of 2020, over 175,000 COVID-19 related GoFundMe campaigns were created, raising more than $416 million. While donors may be feeling charitable, they should know that their contributions are likely not...more
Senators Bob Menendez (D-NJ) and Jim Risch (R-ID) recently introduced bipartisan legislation that would further expand the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS or the Committee) to...more
In the News. The Securities and Exchange Commission (SEC) announced that it adopted Rule 12d1-4 under the Investment Company Act of 1940 (the 1940 Act), providing a new regulatory framework for fund-of-funds and final...more
As described in previous alerts dated June 18, 2019 and January 17, 2020, the U.S. Department of Education (ED) has been increasing its scrutiny of higher education institutions’ contracts with, and gifts from, foreign...more
Mid-pandemic, the U.S. Department of Education (ED) has weighed in on controversial new requirements for reporting college and university foreign gifts and contracts. ED has: •Published the disclosure form it included with...more
As federal, state and local governments grapple with the COVID-19 outbreak, a number of jurisdictions have modified certain ethics, lobbying and campaign finance requirements in response to the crisis. Below, we describe...more
The U.S. Department of Education (DOE) recently announced that it is launching an investigation into the foreign gifts reporting practices of two higher education institutions. ...more
On 4 February 2020, the Office of Management and Budget (OMB) announced that OMB and the U.S. Department of Education (ED) have decided to withdraw the emergency information collection request that ED had submitted to OCR on...more
The Higher Education Act was passed by Congress in 1986. Since then, higher education institutions have been required by Section 117 of the act to biannually report to the U.S. Department of Education (ED) gifts from or...more
As discussed in a previous alert dated June 18, 2019, the U.S. Department of Education (the “Department”) over the last year increased its scrutiny of postsecondary institutions’ contracts with, and gifts from, foreign...more
On 17 December 2019, the U.S. Department of Education (ED) published in the Federal Register notice of a new information collection request (ICR) related to reporting requirements under Section 117 of the Higher Education Act...more
• U.S. institutions of higher education are required to report foreign gifts and contracts under Section 117 of the Higher Education Act. • The U.S. Department of Education has launched investigations into at least four...more
The U.S. Department of Education (the Department) in recent months has undertaken increased scrutiny of postsecondary institutions’ contracts with, and gifts from, foreign entities and individuals. Although long-required to...more
Depending upon how foreign real estate is owned and/or controlled, a number of different tax reporting regimes may be implicated. Each of these has its own corresponding penalties and generally applies to United States...more