Publication
An officer’s duty to exercise due diligence: A clarification?
A recent decision of the District Court of New South Wales has clarified the content, nature and extent of an officer’s duty to exercise due diligence.
Global | Publication | November 18, 2016
The Internal Revenue Service (“IRS”) has extended the deadline for furnishing some, but not all, 2016 information reports required by the Patient Protection and Affordable Care Act (“ACA”).
In IRS Notice 2016-70, the IRS extended the deadline for furnishing to individuals 2016 Forms 1095-B and 1095-C from January 31, 2017 to March 2, 2017. These forms provide information to individuals about offers of health coverage and coverage provided. The IRS also extended the good faith transitional relief penalties related to these 2016 information-reporting forms.
However, the IRS did not extend the deadlines for filing the 2016 Forms 1094-B, 1095-B, 1094-C and 1095-C with the IRS. The deadline for filing these forms with the IRS remains February 28, 2017, if not filed electronically, or March 31, 2017, if filed electronically. The IRS did not change the provisions regarding automatic extensions of time for filing certain returns, which remain available.
In light of the recent election, the fate of the ACA remains unclear. However, companies are encouraged to continue compliance with the law while it remains in effect.
Read the full text of IRS Notice 2016-70 here.
Publication
A recent decision of the District Court of New South Wales has clarified the content, nature and extent of an officer’s duty to exercise due diligence.
Publication
ASIC has released Consultation Paper 378 'Safeguard mechanism reforms
Publication
We are delighted to announce that Al Hounsell, Director of Strategic Innovation & Legal Design based in our Toronto office, has been named 'Innovative Leader of the Year' at the International Legal Technology Association (ILTA) Awards.
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