News & Analysis as of

Tax Refunds Banking Sector

Fox Rothschild LLP

No Check, Please! Trump Orders US Treasury Department to Go Digital-Only

Fox Rothschild LLP on

The federal government is putting paper checks on notice. In an Executive Order (EO) signed on March 25, President Trump directed the Department of the Treasury to stop issuing — and accepting — paper checks for nearly all...more

Kilpatrick

High Court Tax Refund Ruling Indicates State Law Authority

Kilpatrick on

On Feb. 25, The U.S. Supreme Court issued its decision in Rodriguez v. Federal Deposit Insurance Corp., a case involving a dispute between (1) the trustee in bankruptcy of a defunct bank holding company, and (2) the FDIC, as...more

Ballard Spahr LLP

Forfeiture Case Based on Alleged Elaborate $230 Million Russian Laundering and Fraud Scheme to Settle

Ballard Spahr LLP on

On the eve of trial this past Friday, the government announced an agreement to settle, subject to court approval, a major civil forfeiture action in the Southern District of New York. In the case, United States v. Prevezon...more

Ballard Spahr LLP

Supplemental Interagency Guidance on Tax Allocation Agreements

Ballard Spahr LLP on

The federal bank regulators recently issued additional guidance on intercompany income tax allocation agreements between holding companies and their depository institution subsidiaries. Intended to clarify the ownership of...more

Orrick - Finance 20/20

Three Agencies Seek Comment on Joint Supplemental Guidance on Income Tax Allocation Agreements

On December 19, Fed, FDIC and OCC issued a statement seeking comment on supplemental guidance on income tax allocation agreements involving holding companies and insured depository institutions. ...more

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