By Alan Winston Granwell, Andrea Darling de Cortes, and Alexander R. Olama of Holland & Knight LLP Virtual currency transactions are now a prime focus of Internal Revenue Service (IRS) scrutiny. The IRS has numerous information-gathering tools to enforce its taxing power, including summons, artificial intelligence, data analytics, whistleblowers and even a taxpayer's social media. The takeaway from the IRS focus on this area is that individuals should properly report and pay tax on virtual currency transactions or prepare to pay back...

By Joanna Dodd Massey, President & CEO of JDMA Inc They may be young, but Gen Z now accounts for 40% of consumers and already influences between $29 billion and $143 billion in direct spending. Since the youngest of them are only nine years old, their buying power will continue to grow. That means their importance simply cannot be overstated. Despite having similar psychographics to younger millennials, Gen Z is distinct in a variety of significant ways that smart marketers...

The new act introducing a collective damages action on an opt-out basis for persons domiciled in the Netherlands will come in to force and effect on January 1st, 2020. As we reported in our newsletter of February 6th, 2019, no monetary damages could be sought on a collective basis under the old collective action regime. The essence of the new Act on the Resolution of Mass Claims in a Collective Action, also known by its Dutch acronym “WAMCA”, is that...

By Rogers Stevens, Associate, Pepper Hamilton LLP Q: An employee in my company has requested intermittent leave as an accommodation for what he claims is a debilitating “anxiety,” but he has no job performance issues and seems fine to me. Are we required to provide a reasonable accommodation under the ADA for anxiety? A: The question of whether an employee’s anxiety constitutes a disability under the Americans with Disabilities Act (“ADA”) is rather tricky for employers. Most people experience some level...

Broadly speaking, artificial intelligence (AI) is the term given to the ability of computer software to simulate human cognition, allowing machine systems to learn, reason, and interact. Over time, algorithmic software can be “trained” to make connections – from random inputs to revealing outputs – which allow it to “learn”, and “make” decisions. This decision-making process, when conducted without any human involvement, is known as automated decision making (ADM). Common examples of ADM are: An autonomous vehicle stopping so it doesn’t...

In most states for certain claims, the statute of limitations is tempered by the "discovery rule," under which the limitations period does not start until the claimant knew or should have known of its claim against the wrongdoer. Although some types of claims may not get the benefit of this rule—such as claims for defamation—the statute of limitations governing claims for misappropriation of trade secrets is generally tempered by the discovery rule. Thus, an injured party that does not...

ING Groep N.V. notes the announcements made today by the European Banking Authority and the European Central Bank (ECB) regarding the information of the 2019 EU-wide Transparency Exercise and fulfillment of the EBA Board of Supervisors’ decision. Background 2019 EU-wide Transparency Exercise At its meeting in April 2019, the EBA Board of Supervisors approved the package for the 2019 EU-wide Transparency Exercise, which since 2016 is performed on an annual basis and published along with the Risk Assessment Report (RAR). The annual...