On March 11, 2021, President Biden signed into law the American Rescue Plan Act (ARPA), in furtherance of the fifth phase of the federal government’s response to the COVID-19 crisis. The full text of the bill is published here. The key tax provisions of the Phase 5 Stimulus are summarized in this Alert, and
Podcast: The Evolving Regulatory Landscape for ERISA Plan Fiduciaries—Cybersecurity Concerns for Plan Sponsors
In this second episode of our Ropes & Gray podcast series addressing emerging issues for fiduciaries of 401(k) and 403(b) plans to consider as part of their litigation risk management strategy, ERISA & benefits partner Josh Lichtenstein and benefits principal David Kirchner discuss the importance of implementing a robust cybersecurity program for benefit plans to
The CFTC Signals New Era in Enforcement of Cryptocurrency Trading with Action Against Antivirus Software Pioneer John McAfee
For the first time, the United States Commodity Futures Trading Commission (“CFTC”) filed a complaint alleging a manipulative scheme involving digital assets.The CFTC’s complaint, filed on March 5, 2021 in the Southern District of New York, charged antivirus software creator John McAfee and his former employee, Jimmy Gale Watson, who served as executive adviser of
Amendment to D.C. False Claims Act Will Allow Tax Actions, Enhancing Tax Enforcement in the District
In mid-March, amendments to the D.C. False Claims Act (the “D.C. Act”) providing for tax fraud enforcement under the Act will become effective unless Congress vetoes the reforms before that time. Among other changes, the amended D.C. Act will allow private citizen whistleblowers to bring lawsuits, on behalf of the District, against taxpayers who have