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By William Hamilton
Assume that your e-mail will be printed on the front page of the New York Times. If you would be embarrassed or concerned, don't send it.
For over a century, telephone service subscribers have been subject to a federal excise tax (FET) on communications services. Initially designed to curb the federal deficit caused by the Spanish-American War, the FET currently imposes a 3 percent levy on all "telephone service," "local telephone service," and "teletypewriter exchange service."
In the first decisions issued by the Supreme Court under Chief Justice Roberts, the Court ruled that, under the Fair Labor Standards Act (FLSA), employees must be paid for time spent walking from their employer’s locker room to the work floor after "donning," or putting on, unique protective gear, as well as time spent walking to and waiting to "doff" or take off, unique protective gear.
The United States Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) has issued a new regulation addressing "Internet applicants," which will go into effect on February 6, 2006.
On October 22, 2004, the American Jobs Creation Act of 2004 was signed into law. This legislation added Section 409A to the Internal Revenue Code, fundamentally changing the tax treatment of deferred compensation plans, including certain severance pay plans and agreements.
Change is in the air with regard to the way in which prospective purchasers, lenders and others will conduct environmental due diligence in the future. These changes stem from Congress’ enactment of the Small Business Liability Relief and Brownfields Revitalization Act, 115 Stat. 2356 (the Brownfields Amendments of 2002 or Amendments).
On Tuesday, October 12, the Supreme Court agreed to hear two wetlands cases (both from Michigan) that could help clarify the extent of federal jurisdiction under the Clean Water Act and to address the issues that were not reached in the Court’s 2001 decision of Solid Waste Agency of Northern Cook County v. Corps, 531 U.S. 159 (2001) (SWANC).
In the past, generally accepted accounting principles (GAAP) did not require companies to report liabilities for environmental conditions, such as contaminated facilities or buildings with asbestos-containing materials, unless there was a pending or threatened legal proceeding associated with the condition.
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