Campaign for Compliance Last year the IRS announced a new campaign to target “Withholding and International Individual Compliance” regarding Forms 1042 and 1042-S. Those who make payments of certain U.S.-source income to foreign persons must comply with withholding, deposit, and reporting requirements. The IRS campaign promised to address “withholding agents who make such payments but do not meet all their compliance duties.” In accordance with this promise, the IRS initiated the campaign, uncovering several thousand…

Inside Business Immigration

Immigrant Entrepreneurship: An American Success Story

By Robert Y. Maples˘ on June 18, 2019

On June 4, 2019, the Kenan Institute released a timely policy brief, “Immigrant Entrepreneurship: An American Success Story,” on the value of highly skilled and motivated foreign entrepreneurs to the U.S. economy. The brief states, “When looking at the founding of the United States’ largest startups…[t]he immigrant-founded startups employ an average of more than 1,200 workers each, and have collective values of $248 billion.” This brief follows a March 2019 comprehensive analysis of the …

EB-5 Insights

Immigrant Entrepreneurship: An American Success Story

By Robert Y. Maples˘ on June 18, 2019

GT L&E Blog

Nevada Mandates Paid Time Off for Workers

By Tami Cowden on June 17, 2019

On June 13, 2019, Nevada Governor Steve Sisolak signed SB 312 into law to require Nevada employers to provide paid leave to workers. Specifically, the bill requires that employees receive 0.01923 hours of paid leave for each hour worked. Under this formula, a worker who works 40 hours per week for 52 weeks will be entitled to approximately 40 hours of paid leave. Workers must receive the same rate of pay for the paid leave…

GT Amsterdam Law Blog

Dutch Heating Supply Act Revised: Consequences for Landlords

By Monisha Sardjoe & Marijn Bodelier on June 17, 2019

Introduction Starting 1 July 2019, the scope of the Dutch Heating Supply Act (Warmtewet) (the Act) will be revised. The revision will have significant consequences for landlords of residential units or business space (including office and retail) who supply heat to their tenants. As of July 1, landlords will be exempted from the Act.[1] This blog post explains the current obligations of landlords pursuant to the Act and the consequences of the Revised Act…

Inside Business Immigration

Presidential Memorandum on Enforcing the Legal Responsibilities of Sponsors of Aliens – Stakeholder Message

By Robert Y. Maples˘ on June 17, 2019

USCIS Acting Director Cuccinelli tweeted June 14 that “@USCIS took action to further @POTUS directive to enforce the legal responsibilities of sponsors. Self-sufficiency is a principle that has been enshrined in our laws since the 1800s & we must ensure that immigrants who become part of our country abide by this principle.” His multiple tweets also stated that USCIS will now “remind individuals at their adjustment of status interviews of their sponsors’ responsibilities… reimbursement…

Financial Services Observer

The Newest SEC OCIE Risk Alert: Cloud Storage Is Great, If Your Cloud Is Secure!

By Paul Ferrillo on June 14, 2019

On May 23, 2019, the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert on the importance of storing customer and data in a cloud environment in a secure fashion. Titled “Safeguarding Customer Records and Information in Network Storage – Use of Third Party Security Features,” the risk alert addresses proper cloud storage practices, and in particular, what potential problems the registered investment adviser and broker-dealer community should be on guard for…

Inside Business Immigration

Greenberg Traurig Attends Samsung’s “Seoul Sisters” Event

By Greenberg Traurig on June 14, 2019

Greenberg Traurig was proud to attend Samsung’s annual “Seoul Sisters” Women’s Conference in Teaneck, New Jersey. The event was created for Samsung employees from across all of Samsung’s North American subsidiaries to come together and discuss best practices, leadership topics, and other hot topics. Greenberg Traurig is especially proud that one of the key presenters was former GT Co-President Hilarie Bass, who is now President and Founder of the Bass Institute for Diversity & Inclusion and…

Emerging Technology Views

Forget About Fake News, How About Fake People? California Starts Regulating Bots as of July 1, 2019

By Ed Chansky & Ian C. Ballon on June 14, 2019

California SB 1001, Cal. Bus. & Prof. Code § 17940, et seq., takes effect July 1, 2019. The law regulates the online use of “bots” – computer programs that interact with a human being and give the appearance of being an actual person – by requiring disclosure when bots are being used. The law applies in limited cases of online communications to (a) sell commercial goods or services, or (b) influence a vote in an…

GT Israel Law Blog

Proposed Regulations for Qualified Foreign Pension Funds that are Exempt from U.S. Tax on Disposition of U.S. Real Property Interests

By Pallav Raghuvanshi on June 13, 2019

The Foreign Investment in Real Property Tax Act of 1980, as amended (FIRPTA), imposes tax on gain realized on disposition by nonresident alien individuals or foreign corporations (non-U.S. persons) of a U.S. real property interests (USRPI) by treating such gain as effectively connected with the conduct of a U.S. trade or business by such non-U.S. persons (effectively connected income, or ECI). The FIRPTA tax is enforced by requiring the purchaser (or other transferees) of a…

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Now Is the Time to Consider Voluntary Disclosure: Advancement of the IRS Campaign on Withholding Tax Noncompliance for Forms 1042, 1042-S

Immigrant Entrepreneurship: An American Success Story

Immigrant Entrepreneurship: An American Success Story

Nevada Mandates Paid Time Off for Workers

Dutch Heating Supply Act Revised: Consequences for Landlords

Presidential Memorandum on Enforcing the Legal Responsibilities of Sponsors of Aliens – Stakeholder Message

The Newest SEC OCIE Risk Alert: Cloud Storage Is Great, If Your Cloud Is Secure!

Greenberg Traurig Attends Samsung’s “Seoul Sisters” Event

Forget About Fake News, How About Fake People? California Starts Regulating Bots as of July 1, 2019

Proposed Regulations for Qualified Foreign Pension Funds that are Exempt from U.S. Tax on Disposition of U.S. Real Property Interests

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