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  • March 27, 2024
    In a rare published decision, the Michigan Court of Appeals enforced a provision in an auto lease that allowed either party to demand arbitration, even though the dealer had assigned the lease to a finance company and no longer owned the lease, and even though plaintiff argued that his claim did not involve the lease agreement.  
  • March 22, 2024
    Employers with candidates who require initial H-1B employment authorization should plan to submit a registration for those candidates when the H-1B electronic registration period opened on March 6, 2024. The electronic registration period has been extended to 12 p.m. EST on March 25, 2024. During this period, employers may submit registrations for any employees they wish to sponsor for initial H-1B employment authorization.
  • March 20, 2024
    On February 21, 2024, the IRS announced plans to increase funding under the Inflation Reduction Act to audit the use of corporate aircraft by large corporations, partnerships, and high-income individuals. 
  • March 18, 2024
    The European Union recently passed a sweeping law regulating corporations and business leaders with respect to artificial intelligence. The first legislation of its kind, the EU Artificial Intelligence Act seeks to impose legal and ethical standards on companies that develop and use AI. While the act does not impose legal obligations on organizations that operate exclusively in the United States, it will serve as a harbinger and potential model for AI restrictions that may one day be passed by the U.S. Congress and state legislatures.
  • March 14, 2024
    Congress perhaps made an unintended drafting error in the Tax Cuts and Jobs Act when it required a taxpayer to decrease its deduction for research and experimental expenditures. The apparent drafting error is in IRC §280C(c)(1), which provides that if a taxpayer’s research credit for a taxable year exceeds the amount allowable as a deduction for research expenditures for the taxable year, the amount of research expenses chargeable to capital account must be reduced by the excess and not by the full amount of the credit.  
  • March 13, 2024
    In 2022, Congress passed the Bankruptcy Threshold Adjustment and Technical Corrections Act, raising the debt limits for bankruptcy cases under the Small Business Reorganization Act and under chapter 13, making more debtors eligible for relief under these provisions of the Bankruptcy Code. The increases were temporary and will revert to lower values in June unless Congress extends them or makes them permanent. This significant change could affect the eligibility of businesses seeking bankruptcy protection and may create a surge in bankruptcy filings before the deadline.
  • March 12, 2024
    The United States District Court of the Eastern District of Texas has struck down the 2023 NLRB regulations defining joint employer status, opining that they were overbroad and could allow a finding of joint employer status even when the putative joint employer did not meet the common law definition of an employer. 
  • March 7, 2024
    Unscrupulous promotors caused many taxpayers to file claims for the Employee Retention Credit even when they did not qualify. As a result, the IRS views claims for this credit with suspicion and has created several programs allowing taxpayers to withdraw their claims without penalty. In conjunction with this this approach, the IRS has now begun sending letters to taxpayers who have claimed the Employee Retention Credit requesting additional evidence supporting the claim.
  • March 5, 2024
    On March 1, 2024, an Alabama federal court declared the Corporate Transparency Act (CTA) unconstitutional—but only enjoined its enforcement as to the specific litigants.
  • March 1, 2024
    Concerns that the Supreme Court's opinion in MOAC Mall Holdings LLC v Transform Holdco LLC may affect property sales in bankruptcy cases have been put to rest following a recent Fifth Circuit opinion that stated Section 363(m) is alive and well and continues to bar challenges to good faith bankruptcy sales.