Client Alerts

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“Many States Switching to Uniform MLO Test”
January 2013

David J. Pellegrino

In 2013, three New England states will no longer require the state-specific test component for licensing mortgage loan originators (MLOs) due to the implementation of the new National SAFE MLO Test with a uniform state component.

“IRA Charitable Rollover Provisions Revived”
January 2013

The American Taxpayer Relief Act of 2012, signed into law on January 2, 2013, revives the IRA charitable rollover provisions which originally expired in 2011.

“President Signs American Taxpayer Relief Act of 2012”
January 2013

On Wednesday, January 2, 2013, President Barack Obama signed into law the American Taxpayer Relief Act of 2012.

“The 7520 Rate Drops to All-Time Low”
November 2012

The U.S. Treasury has announced that the applicable federal rate under Section 7520 of the Internal Revenue Code (the “7520 rate”) for November 2012 is 1%, matching an all-time low.

“Misclassification of Independent Contractors – Increased Risks and Damages under New Law”
November 2012

Michael A. Gamboli

In the past few years, the United States Department of Labor (“DOL”) has greatly increased its efforts to punish employers who misclassify employees as independent contractors.

“Tax Exemption Adjustments”
October 2012

The Internal Revenue Service has announced annual inflation adjustments for more than two dozen tax provisions.

“A Contract Provision Waiving a Subcontractor’s Rights to Make Bond Claims is Void”
August 2012

Drew W. Colby

In Costa v. Brait Builders Corporation, the highest Court in Massachusetts addressed the question of whether a contract term is void because it precluded a Subcontractor from bringing a payment bond claim on a public project.

“Proposed and Temporary Regulations Addressing Portability”
August 2012

In June, the Internal Revenue Service issued proposed regulations and temporary regulations addressing the portability of a deceased spouse’s unused federal estate tax exemption.

“SEC Seeks Further Authority to Regulate the Municipal Securities Market”
August 2012

Eugene G. Bernardo II
Alexandra W. Pezzello

On July 31, 2012, the Security and Exchange Commission (the “SEC”) issued its much-awaited Report on the Municipal Securities Market (the “Report”).

“New Case Mandates Specific Language in Dispute Forum Clauses”
July 2012

Drew W. Colby

The Massachusetts Appeals Court has just issued a controversial decision, Boland v. George S. May International Company, affecting “choice of forum” contract clauses wherein the parties identify the state having jurisdiction over disputes.


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