Insights

Responding to volatility in the market and liquidity constraints caused by the COVID-19 pandemic, in Notice 2020-25 (the “Notice”), the IRS provides temporary relief for governmental issuers seeking to purchase their own tax-exempt variable rate demand obligations that are “qualified...

As a result of the prohibitions on public gatherings resulting from the COVID-19 pandemic, issuers of tax-exempt private activity bonds have been facing difficulty complying with the federal tax laws requiring that a public hearing be held to allow interested...

On April 9, 2020, the IRS and Treasury Department released Revenue Procedure 2020-24 (the Revenue Procedure) and Notice 2020-26 (the Notice). The Revenue Procedure provides technical guidance for corporations with respect to the net operating loss (NOL) provisions of the...

On April 23, 2020, the IRS and the Treasury Department released Proposed Regulations that provide guidance for how tax-exempt organizations (“EOs”) conducting multiple unrelated trades or businesses can calculate their unrelated business taxable income (“UBTI”) in light of the enactment...

What 5 key points do buyers and sellers need to negotiate to get oil and gas deals done in today’s challenging market? Alastair Young, a partner in Bracewell’s London office, shares his perspective.

The volume of evolving information arising out of the coronavirus pandemic is astounding. How do employers sort through it all to know what is important for your company and role within the organization? Bracewell’s webinar aims to help. Our Labor...

On April 28, Treasury Secretary Steven Mnuchin announced the SBA would be conducting audits of all businesses that received greater than $2 million in PPP loans, reiterating his warning from last week that businesses borrowing under the Paycheck Protection Program...

On April 10, 2020, the IRS and Treasury Department released Revenue Procedure 2020-22 (the Revenue Procedure), providing guidance with respect to the application of the provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act relating to the limitation...

Shortly after the passage of a bill injecting an additional $310 billion into the Small Business Administration’s Paycheck Protection Program, the SBA has issued another supplemental Interim Final Rule (IFR) providing new guidance on several issues, including eligibility for hedge...

U.S. Supreme Court settles circuit split over whether plaintiffs must prove willful infringement in order to recover a defendant’s profits The Supreme Court’s decision Thursday in Romag Fasteners, Inc. v. Fossil, Inc. significantly expanded the monetary relief available for trademark...

As regulated companies and facilities around the country consider their approaches to partially or even fully returning to the workplace – even essential facilities that have remained open but with limited staffing – it seems inevitable that they will discover...

During the coronavirus lockdown, many companies are turning to their contracts to consider whether relief might be available under force majeure provisions. Watch this Bracewell Legal Brief, where Darren Spalding, a partner in our London office, details 5 key issues...

A number of class-action lawsuits have been filed targeting national and community banks for their processing of loans under the Small Business Administration’s Paycheck Protection Program (PPP). It is not surprising that disputes have already arisen, given the swift creation...

On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which modifies certain business tax provisions in the Internal Revenue Code (IRC). For more detailed information regarding the CARES Act, see here. The...

On April 21, EPA published the revised definition of “Waters of the United States,” or “WOTUS,” in the Federal Register. WOTUS is a lynchpin phrase in the Clean Water Act that determines the jurisdictional reach of multiple agencies. The Clean...