Here's what you should know.
New Form I-9 Mandatory After May 7, 2013
The U.S. Citizenship and Immigration Services has released a new version of Form I-9 (Employment Eligibility Verification). Employers should begin using the newly revised Form I-9 for all new hires and re-verifications, but may continue to use…
What Employers Can Learn from Petraeus's Downfall
We have all witnessed the instantaneous fall from grace of General David Petraeus, which snowballed from anonymous harassing emails sent to Tampa socialite Jill Kelley to implicating Petraeus's biographer Paula Broadwell to revealing the racy details…
Sick Times in Seattle: A New Ordinance Provides Generous Leave for Seattle Employees
Beginning on September 1, 2012, a new law in Seattle will require certain employers to offer paid sick and safe time ("PSST") to employees who work within Seattle city limits. The Seattle Paid Sick and Safe Time Ordinance applies to all companies…
Employers Should Continue Using Current Form I-9 to Verify Employment Eligibility
The U.S. Citizenship and Immigration Services (USCIS) recently announced that employers should continue using the version of Form I-9 currently available on the USCIS website (dated 08/07/09) for purposes of verifying employment eligibility even…
IRS Issues Guidance on $2,500 Health Flexible Spending Account Limit
The IRS recently issued helpful guidance in Notice 2012-40 on the $2,500 annual limitation on salary reduction contributions to health flexible spending accounts ("FSAs"), effective beginning in 2013.
JOBS Act Directs SEC to Lift Ban on General Solicitation and General Advertising in Rule 506 Offerings
The recently enacted Jumpstart Our Business Startups Act (JOBS Act) directs the U.S. Securities and Exchange Commission (SEC) to adopt rules that remove the existing prohibition against general advertising and general solicitation in private…
JOBS Act Amends Exchange Act Registration Thresholds (Part 3 of 3)
This Client Update is the third part of a three-part series on the new Jumpstart Our Business Startups Act of 2012. This update summarizes the amended thresholds for registration under the Securities Exchange Act of 1934 and related changes under the…
IPO Streamlining and Reduced Reporting Requirements for Emerging Growth Companies, and Regulation A+ Offerings (Part 2 of 3)
This Client Update is the second segment in a three-part series on the new Jumpstart Our Business Startups Act of 2012. This update focuses on streamlined initial public offering and reporting requirements for a newly created category of "emerging…
JOBS Act Eases Burden on Fundraising for Small Companies (Part 1 of 3)
On April 5, 2012, the President signed into law the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"), which is intended to ease capital raising for smaller businesses by relaxing regulatory requirements. This update is the first segment…
SEC Adopts Final Rules on Performance-Based Fees
As discussed in a previous Tonkon Tip, the Securities and Exchange Commission issued an order raising the financial thresholds of Rule 205-3 under the Investment Advisers Act of 1940, which provides that only "qualified clients" may be charged a…
Transfer on Death Deeds: A Good Tool for Estate Planning in Oregon?
Effective January 1, 2012, Oregon law provides for a new form of deed known as a transfer on death (TOD) deed. These deeds allow an owner of real property to designate a beneficiary who will obtain title to that real property when the owner dies…
New H-1B Filings Begin April 2
April 2 through 6, 2012, is the initial filing window for new H-1B petitions to be filed against the USCIS FY2013 H-1B quota if the H-1B quota availability is immediately exhausted. Employers should determine as soon as possible whether they have any…
Final ERISA Service Provider Fee Disclosure Rules Go Into Effect July 1, 2012
On February 2, 2012, the Department of Labor ("DOL") issued final regulations requiring service providers to ERISA retirement plans to disclose information about the service providers' compensation and potential conflicts of interest. The final rules…
Washington Tax Nexus: Can You Afford to "Sleep Like a Baby?"
Mattress World, whose radio ads told listeners "it's not too late to sleep like a baby," recently announced that it owes the State of Washington approximately $1.7 million in uncollected sales taxes and will be shutting down its business.
SEC Overhauls Form ADV Part 1A to Conform to New Dodd-Frank Requirements
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 has significantly changed how investment advisers are regulated. Among other things, the Act (a) increased the amount of assets under management required for SEC registration and…
Dodd-Frank Broadly Expands SEC Whistleblower Program (Part 2 of 2)
As discussed in a previous update, the Securities and Exchange Commission recently issued final rules implementing its new whistleblower program designed to encourage reporting of potential violations of the federal securities laws.