Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
ELA Responds to Proposed Budget Legislation
On Jan. 13, 2004 the Treasury Department announced a series of legislative proposals, included in the president's fiscal year 2005 budget, for the purpose of closing loopholes, halting several abusive tax avoidance transactions, and simplifying the tax code. Of particular interest to the leasing community is the proposal: “Stop Abusive Leasing Transactions with Tax-Indifferent Parties.” According to the Treasury Department's proposal, taxpayers increasingly have used purported leasing transactions to “acquire” significant tax benefits from a tax-indifferent party, such as a municipal transit authority or foreign government, in exchange for a modest fee. These transactions do not involve any useful economic activity, such as the acquisition or financing of business assets, and instead simply move a tax benefit, including depreciation, from a party that cannot use it (the municipality or foreign government) to a party that can (the taxpayer). Congress sought to limit these transactions in 1984, but these rules have proved ineffective over time. The administration's proposal would sharply limit the tax benefits claimed by the taxpayer in these transactions.
The Equipment Leasing Association of America (ELA) issued a response to the Treasury Department's 2005 proposed budget plan to stop leasing transactions with “tax-indifferent parties,” citing clear negative consequences that compromise many organizations' abilities to finance projects and infrastructure. Michael Fleming, president of ELA, stated that the Treasury Department's proposal “will take away the ability for tax-exempt entities, such as hospitals, charities, and schools, already strapped for capital, to lease equipment and severely limit their financing options. Calling the proposal “poorly thought out” Fleming further added that it would “raise the cost of making needed assets and services available to these organizations.”
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.