Depending on the nature of your business, your employees may routinely handle or have access to information that is subject to privacy protection or financial/securities regulations under various federal and state laws. Improper handling or disclosure of statutorily-protected or otherwise private information could potentially result in (1) statutory and privacy…
The processes of setting and communicating prices are two of the most fundamental roles of a business. Price affects a business’s sales, revenue, investment returns, and ultimately profit. As a result, the term “price fixing” has a strong negative connotation, and deservedly so. Restrictions on price competition represent actual threats…
Delaware law permits a court to pierce the corporate veil of a company and hold its owners personally liable “where there is fraud or where [the corporation] is in fact a mere instrumentality or alter ego of its owner.” See, e.g., Geyer v. Ingersoll Publ’ns Co., 621 A.2d 784, 793…
Generally, it is the rule that a corporate director is not personally liable for the misconduct of co-directors where he or she has not participated in the misconduct. See, e.g., Seale v. Citizens Sav. & Loan Ass’n, 806 F.2d 99 (6th Cir. 1986). Corporate officers and directors can only become…
File your tax returns. A week from now will be too late. It can be cumbersome, stressful and certainly annoying. But it’s one of those things in life. Do it and be done with it. Some added incentives to filing: A. Avoid costly consequences Did you know the IRS late-filing…
Very soon, the federal government could know what you bought for dinner last night, or whether you and your wife are having a nasty email fight about something very personal-and they could know this all because of CISPA-The Cyber Intelligence Sharing and Protection Act of 2013. If you’re using gmail,…
Sure, we’ve all heard that mobile software applications collect more personal data from our smart phones than they need to or should; and the mobile apps’ privacy policies are such a byzantine morass, none of us read them anyway. But the news that the most popular children’s mobile software apps…
Jennifer O’Brien, a tenured New Jersey public school elementary teacher with 13 years of teaching experience and a master’s degree in education, was teaching a class of 23-first grade students (all of whom were minorities and mostly six-years old), when she posted on her own, private Facebook page these comments…
Politics aside (because, let’s face it, it’s all about our own, bottom-line individual/household budgets), let’s look at the impact of yesterday’s tax legislation. As with everything in life, there is good news and bad news. The federal fiscal plunge may not be as steep, but it doesn’t mean there isn’t…
United States citizens have an obligation to report to the IRS on Schedule B of their U.S. Individual Income Tax Return, Form 1040, whether they had a financial interest in, or signature authority over, a financial account in a foreign county in a particular year by checking “Yes” or “No”…
In this economy, many small businesses continue to struggle just to stay afloat and, out of desperation, find means of shuffling business funds around to pay immediately due bills and put off paying others. Some business owners have used employment tax withholding to use the government as a bank to…
As tax defense attorneys and former IRS prosecutors, we are very experienced in resolving Maryland and federal tax problems. One of the common issues we encounter involve the failure to pay Maryland sales and use tax. I. Applicable Statutes and Case-Law Section 11-102(a) of the Tax-General Article, Annotated Code of…
As a lawyer who has successfully defended many types of insider trading allegations by both the SEC and CFTC, I am often asked to explain what type of insider trading is prohibited by the CFTC within the commodities and futures markets? I. General Overview and Background of CFTC Generally, regulation…
Generally speaking, a Maryland corporation provides protection to individuals from personal liability associated with debts of the corporate entity. When a plaintiff or creditor is able to go after an owner’s personal assets, it is commonly called “piercing the corporate veil”. Maryland law is crystalline that the corporate entity will…
Simply put, an insurance agent has no general duty to advise its insureds, with regard to essentially anything after the issuance of the policy. In Maryland, as well as other jurisdictions, the basis for not holding agents to a standard of care stems from a fear that to do so…