Down It Goes! Illinois Prejudgment Interest Struck Down – What To Do Now
5/31/22
By: Jonathan Schwartz and Patrick Eckler Judge Marcia Maras of the Circuit Court of Cook County struck down as violative of the Illinois state constitution, PA 102-0006, which permits prejudgment interest in personal injury and wrongful death cases. This ruling is of great significance for those with cases that predate the statute’s effective date, July…
5/25/22
By: Matthew A. Wachstein In the recent case of VAS Holdings & Investments LLC v. Comm’r of Revenue, No. SJC-13139, 2022 Mass. LEXIS 204 (May 16, 2022), the Supreme Judicial Court of Massachusetts (SJC) reversed the Appellate Tax Board’s holding that a nondomiciliary corporation could be taxed for its capital gains from the sale of…
Considerations for accountants in responding to a subpoena for client documents
4/6/22
By: Nancy Reimer and Lori Eller When a CPA or its firm is served with a subpoena requesting a client’s tax or financial information, there are best practices and steps they should take prior to responding to the subpoena. Federal and state law, as well as the American Institute of Certified Public Accountants’ (“AICPA”) Code…
Accounting for the COVID-19 employee retention credit limitation in your federal tax return
2/22/22
By: Ryan Giggi As we embark on another tax season, Americans from coast to coast will once again need to navigate a complex and ever-changing web of COVID-19 related law on their federal tax returns. One important change particularly impacting employers and their accountants is the recent limitation of the Employee Retention Tax Credit (“the…
1/28/22
By: Paul Piantino III, Esq., Kaitlyn Grajek, Esq. and Julia Bover, Esq. On December 31, 2021, New York Governor Kathy Hochul signed into law the Comprehensive Insurance Disclosure Act, (the “Act”). It takes effect immediately and applies to all pending civil actions in the State of New York. The Act amends CPLR 3101(f), a discovery…
New Year’s resolutions for design professionals: negotiate new contracts carefully
1/20/22
By: Catherine Bednar The start of a new year is an excellent time for design professionals to review and implement measures for avoiding and minimizing their potential exposure from liability claims. Below are some key contract issues to consider as you pursue new projects and business opportunities. Avoid Heightened Standards of Care and Warranties. Architects…
Eleventh Circuit clarifies standard of care for attorneys advising on unsettled areas of the law
1/12/22
By: Alyssa Wolf A recent ruling in the Eleventh Circuit affirmed a decision of the Northern District of Alabama siding with a law firm sued for malpractice after not warning the client to cease behavior in an unsettled area of law later found to be illegal. In Reynolds v. Levin No. 20-13581, 2021 WL 4627905…
1/10/22
By: Kirsten Patzer and Courtney Mazzio On October 27, 2021, the Federal Trade Commission (“FTC”) announced an update to the rules implemented by the Gramm-Leach-Bliley Act expanding the definition of “financial institutions” under the Financial Privacy Rule and requiring these institutions to enact specific measures to protect their customers’ nonpublic personal information under the accompanying…
Legal considerations for stethoscope hygiene in a new era of infection control (COVID-19)
12/21/21
By: Edward Solensky, Jr. A recent article in American Heart Journal Plus: Cardiology Research and Practice discusses how stethoscopes may be implicated in medical malpractice lawsuits as a potential cause of healthcare-associated infections (HAIs). The authors note that while there is limited evidence demonstrating a direct connection between stethoscope contamination and HAIs, malpractice lawsuits often…
Recent Second Circuit decision demonstrates importance of carefully drafted engagement letters
12/6/21
By: David A. Slocum A recent decision issued by the United States Court of Appeals for the Second Circuit demonstrates the importance of having carefully drafted client engagement letters clearly defining the scope of an attorney’s representation. In Allegrino v. Moscou, 2021 U.S. App. LEXIS 34936 (2d. Cir. November 24, 2021), the Second Circuit Court…
Attention debt collectors in California: new law requires action by December 31, 2021
12/3/21
By: Mandy D. Hexom Beginning January 1, 2022, pursuant to California’s new Debt Collection Licensing Act (DCLA), all consumer debt collectors who are collecting on their own account or the account of others, including debt buyers, must be licensed with the California Department of Financial Protection and Innovation (DFPI). To comply with this new law, consumer debt collectors must apply for a…
11/1/21
By: Marissa Dunn E-filing has radically changed the way we practice law. No longer are the days of finding parking near the courthouse and waiting your turn in line for the clerk. So too has service by physical mail disappeared. E-service dominates in jurisdictions where e-filing is provided. But is this always a positive trend? Compared to the olden days…