Member News

Wilson Sonsini | Forecasting Healthcare Regulatory Developments in a Biden Administration

President Joe Biden was sworn into office on January 20, 2021. As with any incoming administration, new policies will be pursued while those of the previous administration are furthered, abandoned, or undone. The federal government is an enormous bureaucracy with several layers and, therefore, converting policies into quantifiable results takes months or even years. Early indicators of policies' prioritization, implementation, or their likelihood of success can provide a head start to regulated businesses scanning the horizon. It is in...

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Member News

TABS Inc. | New law extends COVID tax credit for employers who keep workers on payroll

The Internal Revenue Service (IRS) urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees on the payroll. The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, made a number of changes to the employee retention tax credits previously made available under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), including modifying and extending...

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Member News

Vulcan Insight | EU Commission seeks input for gig economy workers’ rights

When Ursula von der Leyen presented her Agenda for Europe as a European Commission presidential candidate advocating a ‘Union that strives for more’, she singled out the fact that “digital transformation brings fast change that affects our labour markets.” She committed at that time to “look at ways of improving the labour conditions of platform workers.” Since then, gig economy workers have played an increasingly crucial role in the provision of services across the EU as the pandemic has...

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Member News, New York Related News

Grassi | Remote Workforces May Bring UBT Savings for NYC Businesses

While New York State has maintained that non-residents who telecommuted to their NY-based jobs during COVID-19 are still subject to the state’s personal income tax under the convenience of the employer rule, the issue is less clear when it comes to business taxes, such as the NYC Unincorporated Business Tax (UBT). Partnerships, LLCs or sole proprietorships that are subject to the UBT may be able to realize additional tax savings on their 2020 returns due to their remote workforces. This is because the...

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Chapter News

Remarks by President Charles Michel following the second session of the video conference of the members of the European Council

Statements and remarks 26 February 2021 14:00 by President Charles Michel | Today we discussed security and defense. We want to act more strategically, to defend our interests and to promote our values. So we need to increase our ability to act autonomously and to strengthen our cooperation with our partners. We are committed to cooperating closely with NATO. A stronger Europe makes a stronger NATO. We exchanged views with Secretary General Stoltenberg about working together to improve our collective security...

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Chapter News

ECB | Speech: Unconventional fiscal and monetary policy at the zero lower bound

Keynote speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Third Annual Conference organised by the European Fiscal Board on “High Debt, Low Rates and Tail Events: Rules-Based Fiscal Frameworks under Stress” | One of the greatest conundrums and policy challenges of our times is the coincidence of persistently low real long-term interest rates and low inflation. Even before the coronavirus (COVID-19) pandemic, inflation across many advanced economies had been falling short of central banks’ aims...

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Member News

European-American Chamber of Commerce New York Congratulates Hippo Technologies, Inc. on Successful Inaugural Year and Welcomes Hippo Technologies as a Platinum Member

NEW YORK CITY, February 25, 2021 | Today, the European-American Chamber of Commerce New York (EACCNY) is pleased to congratulate its member firm Hippo Technologies, Inc., (Hippo Technologies), one of the leading virtual care companies that is delivering solutions for healthcare and medical education, as Hippo Technologies reaches the close of its inaugural year in business. Hippo Technologies’ flagship product, the Hippo Virtual CareTM (HVC) platform, was introduced to the market through more than 20 hospitals across China at the...

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Member News

Orrick | The Next Step: FinCEN Proposes to Require Reporting of Cryptocurrency Positions Held in Foreign Accounts

FinCEN recently took another important step toward bringing virtual currency into the financial assets reporting scheme. Taxpayers that have $10,000 or more in a foreign bank account have long been required to file a foreign bank account report (or “FBAR”) on FinCEN Form 114. The penalties for failing to report foreign bank accounts are significant: $10,000 for a non-willful failure and the greater of $100,000 and up to 50 percent of the unreported account balance for willful failures. While the...

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Member News

Offit Kurman | Many US and Foreign Companies in the US Will Need to Disclose Ownership

On January 1, 2021, the Corporate Transparency Act of 2019 (the “CTA”) became law.  The CTA is part of the newly enacted Anti-Money Laundering Act (“AMLA”), and is intended to fight money laundering and terrorism through the anonymous use of shell companies.  Under the CTA, many US and foreign companies registered in the US will need to disclose their beneficial ownership to the Financial Crimes Enforcement Network of the US Treasury (“FinCEN”).  Unlike in some foreign countries, including in Europe,...

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COVID-19 News, Member News

Cozen O’Connor | I-9 Documentation Review Amidst the COVID-19 Pandemic

As we approach April 1, 2021, employers should be aware of the ever-changing policies and procedures surrounding their requirements to complete the Employment Eligibility Verification Form I-9 (and E-Verify if they have registered to use it or are required to use it by law) for all new hires. Traditionally, the document inspection requirements of Form I-9 were completed in person when the new hire was going through the onboarding process of a new position, requiring the employee to complete...

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