Newsletters & Alerts
H-1B visa petitions for nonimmigrant workers accepted April 1 until quota met
Employers who desire to hire H-1B aliens should consult with immigration counsel as soon as possible to file before the statutory quota is reached, which has occurred as early as the first day of the filing cycle in years past.
New advisory for financial institutions’ obligations vis-a-vis foreign-located Money Service Business
Financial institutions may find it necessary to update their anti-money laundering programs if they provide financial services to foreign-located MSBs or engage in financial transactions with these entities.
SEC’s No-Action Letter is good news for pre-IPO companies
On February 13, 2012, the Securities and Exchange Commission issued a No-Action Letter to the Fenwick & West LLP law firm. This No-Action Letter is good news for private companies that are approaching the statutory 500 shareholder limit.
Family Wealth Compass: Charting a course for your family’s future (February 2012)
Gunster’s most recent Family Wealth Compass newsletter, prepared by our Private Wealth Management Services Group, may be of interest to you and your high-net-worth clients.
President Obama signs new executive order blocking the property interests of the Iranian government, financial institutions
Previously, U.S. financial institutions receiving instructions to execute transactions involving the government of Iran were not required to block the transactions.
Tax refund fraud and identity theft become high priorities as tax season approaches
Now that it’s tax season, taxpayers must educate themselves about identity theft. Here are 7 suggestions to help reduce your risk of falling victim to tax refund fraud.
Section 5000C Tax Raises Withholding Issues For Banks
Since 2011, Section 5000C of the U.S. Internal Revenue Code has imposed an IRS-administered withholding tax on billions of dollars of products and services sold annually by foreign vendors to U.S. federal government agencies. One of the many issues raised by Section 5000C is the possibility that foreign and U.S. banks in the chain of [...]
Proposed E-Verify Legislation Filed in both the Florida House and Senate
State Representative Gayle Harrell (District 81- Port St. Lucie) and State Senator Thad Altman (District 24 – Melbourne) have filed companion legislative bills, HB1315 and SB 1638, respectively, with provisions relating to the verification of employment eligibility by employers in Florida, including mandatory use of the federal government’s E-Verify system. Both of the bills have [...]
IRS Announces 2012 Offshore Voluntary Disclosure Program
Commissioner Schulman cautions that “. . . people need to come in and get right with us before we find you.” This month the U.S. government announced its third offshore voluntary disclosure program (“2012 OVDP”). Under this 2012 OVDP, taxpayers who voluntarily come forward and report their previously undisclosed foreign accounts and income will be [...]
Treasury Designates Bank Tejarat For Its Involvement In WMD Proliferation Activities
The U.S. Department of Treasury (“Treasury”) recently announced (“Announcement”) the designation of Iran’s third-largest bank, Bank Tejarat, under Executive Order 13382 – Blocking Property of Weapons of Mass Destruction (“WMD”) Proliferators and Their Supporters. Treasury designated Bank Tejarat after finding that Bank Tejarat provided financial services to: (i) Bank Mellat; (ii) the Export Development Bank [...]
