Businesses, organizations, state and local governmental entities and individuals who collect and store personal information about Rhode Island residents should start planning now to comply with the new Rhode Island Identity Theft Protection Act, which goes into effect on June 26, 2016 and replaces the existing law. Businesses and organizations of any size are affected....
A United States citizen or resident that owns (or has signatory authority over) an account at a foreign bank with a value in excess of $10,000 annually must file a Report of Foreign Bank and Financial Account (or “FBAR”) with the Treasury Department. The FBAR is separate from – and in addition to – any...
First mortgage holders in Rhode Island beware: in a 4-1 decision handed down on December 4, 2015, the Rhode Island Supreme Court has ruled that pursuant to the Rhode Island Condominium Act, RIGL § 34-36.1-1.01 et seq., liens for six months of unpaid common fees prior to the foreclosure have super-priority status, and can extinguish first-priority mortgages under...
In Downey v. Chutehall Construction Co. (Lawyers Weekly No. 11-001-16), the Massachusetts Appeals Court ruled a contractor can be liable for violating building codes despite the fact that the party suing it directed the contractor to perform the non-compliant work. The contractor argued that the owner told it the roof had only one layer of roofing materials on...
This summer, new federal legislation was enacted which requires executors of decedents’ estates to file information statements with the Internal Revenue Service (“IRS”) as well as with estate beneficiaries, or face penalties. This new legislation also dictates how beneficiaries will establish cost basis for property inherited from a decedent. New Internal Revenue Code (“IRC”) Sections...
The U.S. Court of Appeals for the Federal Circuit, in a 9-3 decision in In re Tam, has declared a provision of the federal trademark law unconstitutional as violating the First Amendment guarantee of free speech. The provision in question permits the U.S. Patent and Trademark Office (“USPTO”) to refuse to register disparaging marks. The case involves...
Recently, you may have received emails and alerts concerning proposed IRS regulations requiring charities to disclose donor Social Security Numbers (“SSN”). While donor privacy is a major concern, the proposed regulation should not be. The proposed rule does not require organizations to collect/report donor SSNs. Reporting donor SSNs would be optional, and the decision...
As seen in the Journal of Taxation, Vol. 123, Number 6
By Alicia J. Samolis and Michael A. Gamboli In June we alerted you to the fact that the Department of Labor (“DOL”) was planning to increase the minimum weekly salary an employee must be paid in order to qualify for an exemption from overtime. Since that time, the DOL has published a proposed rule increasing the...
On July 10, 2015, Rhode Island enacted significant legislation to address the ever-growing reality of incapacitated adults (persons having attained age eighteen) who need a guardian but spend time in more than one state. Another key but unfortunate reason this legislation is important is the increase in family disputes resulting in the “snatching” of an...
