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Dec 5, 2024 | 
edinburghlive.co.uk | Christopher A. Jones |Chris Jones
Payroll compliance in Scotland can be complex, but it doesn’t have to be confusing. While it’s important to understand key regulations in order to remain compliant and avoid costly penalties, there is a lot of help and support available, both online and from specialists in the field here in Scotland. One way of doing it is by using a managed payroll service.
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Dec 3, 2024 | 
jdsupra.com | Christopher A. Jones |William Mitchell |Sharon Shachar
The Internal Revenue Service (IRS) recently released IRS Form 15620, Section 83(b) Election (Form 15620), an approved form for taxpayers to use to make a Section 83(b) election. A taxpayer is not required to use Form 15620 to make a Section 83(b) election, but using this form will ensure that taxpayers include all required information, and we recommend using the form going forward.
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Jul 10, 2024 | 
jdsupra.com | Christopher A. Jones |Karam Putros
[co-author: Ruben Pinchas, Summer Law Student]On June 20, 2024, the Canadian Securities Administrators (CSA) issued a notice regarding Coordinated Blanket Order 31-930 - Exemption to Allow Exempt Market Dealer Participation in Selling Groups in Offerings of Securities under a Prospectus (order), which will temporarily allow exempt market dealers (EMDs) to participate in prospectus offerings as a member of a selling group, subject to certain limitations.
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Jun 21, 2024 | 
jdsupra.com | Christopher A. Jones |Karam Putros |Joe Zed
As part of its mandate to foster capital formation and competitive capital markets, the Ontario Securities Commission (OSC) has recently introduced certain time-limited initiatives to improve access to capital for early-stage businesses in Ontario. These initiatives include creating new dealer registration exemptions for early-stage businesses and not-for-profit angel investor groups and extending the self-certified investor prospectus exemption pilot program.
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Jun 4, 2024 | 
jdsupra.com | Christopher A. Jones |Katie Leesman
SummaryThe Treasury Department and IRS on Wednesday issued an eagerly awaited notice of proposed rulemaking to incentivize clean energy facilities: the “clean electricity production credit”—Section 45Y credit—and “clean electricity investment credit”—Section 48E credit—established by the Inflation Reduction Act of 2022. The Upshot The proposed Section 45Y and Section 48E credits incentivize wind, solar, and geothermal facilities that achieve net zero greenhouse gas emissions.
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Mar 18, 2024 | 
jdsupra.com | Christopher A. Jones |Edward I. Leeds |Rachel Loscheider
SummaryThe Commonwealth of Pennsylvania changed its tax treatment of assistance that employers provide for dependent care services – including dependent care flexible spending accounts. Retroactive to January 1, 2023, Pennsylvania will no longer tax employees on amounts that employers pay or subsidize for dependent care up to $5,000 ($2,500 for employees who are married and file separate returns).
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Mar 13, 2024 | 
jdsupra.com | Chris Hunter |Christopher A. Jones |Henry Bian
For many startups and scaleups, intellectual property (IP) is crucial to the company’s competitive advantage and, therefore, its overall success and value. This bulletin provides a refresher on the common categories of IP in Canada and best practices for protecting and leveraging IP that companies should implement and investors should seek. What Constitutes IP in Canada?
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Feb 13, 2024 | 
jdsupra.com | Christopher A. Jones |Wendi L. Kotzen |William Mitchell
SummaryOn January 31, 2024, the United States House of Representatives passed the Tax Relief for American Families and Workers Act of 2024 (TRAFW Act), which is now under consideration in the Senate. The TRAFW Act, in addition to other changes, would implement several important business tax changes. The Upshot The TRAFW Act would increase the amount of business interest that a taxpayer can deduct for tax years beginning after December 31, 2021 and prior to January 1, 2026.
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Jan 26, 2024 | 
jdsupra.com | Christopher A. Jones |Wendi L. Kotzen
SummaryThe current draft of the Tax Relief for American Families and Workers Act of 2024 includes a proposed provision that would dramatically accelerate the deadline to file claims for the Employee Retention Credit (ERC) to January 31, 2024. The Upshot The ERC is a much-scrutinized refundable tax credit of up to $26,000 per employee for certain wages paid by employers between March 12, 2020, and before October 1, 2021.
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Jan 17, 2024 | 
news.bloomberglaw.com | Christopher A. Jones
The last three months of 2023 offered some interesting developments of note for Pennsylvania taxpayers, particularly those who work in Delaware and New York, Philadelphia residents, and executors of trusts. Philadelphia Wage Tax Credit DeniedIn a 3-2 decision, the Pennsylvania Supreme Court upheld the Commonwealth Court and sided with the Philadelphia Department of Revenue in Zilka v.
