On December 29, 2022, Treasury released a white paper indicating the anticipated direction of proposed guidance on the critical mineral and battery component requirements for the new clean vehicle credit under section 30D. The guidance will be critical to automakers and consumers seeking to qualify for tax credits available for purchase of EVs under the
Notice 2023-9, “Section 45W Commercial Clean Vehicles and Incremental Cost for 2023”
Concurrent with the white paper and Notice 2023-1, discussed in a separate blog, on December 29, 2022, the IRS released Notice 2023-9, which provides a safe harbor for determining the incremental cost of qualified commercial clean vehicles for the section
The Sixth Circuit recently affirmed a district court’s application of nonmutual offensive collateral estoppel to negligence claims arising out of an MDL—potentially raising the stakes for bellwether trials that are not considered binding by the district court at the outset and the impact that rulings in those cases could have on later decisions.
The Colorado Attorney General released updated draft rules interpreting the Colorado Privacy Act on December 21, 2022 (“Draft Rules”). These revisions follow a series of stakeholder sessions on November 10th, 15th, and 17th. The Attorney General will convene a formal rulemaking hearing on February 1, 2023. In advance of the formal rulemaking hearing, stakeholders may
Today, in Notice 2023-10, the IRS announced a delay in the new reduced reporting threshold for section 6050W applicable to third-party settlement organizations (TPSOs). Section 9674(a) of the American Rescue Plan Act of 2021 amended section 6050W(e) to provide that, for returns for calendar years beginning after December 31, 2021, a TPSO is required
This afternoon, in Announcement 2023-2, the IRS announced that brokers are not required to report additional information with respect to dispositions of digital assets until the IRS and Treasury issue final regulations under sections 6045 and 6045A. The Infrastructure Investment and Jobs Act of 2021 (the “Act”) amended sections 6045 and 6045A to clarify
The New York Department of Financial Services (“NYDFS”) published the latest draft of its Proposed Second Amendment to its landmark Cybersecurity Regulation (23 NYCRR 500) on November 9, 2022. The proposed second amendment comes after an initial comment period on an earlier-released draft amendment released on July 29, 2022. NYDFS is accepting comments
The Supreme Court recently granted certiorari in a case to resolve a circuit split that has serious implications for companies who are unsuccessful in their efforts to enforce arbitration provisions in federal district courts.
In Coinbase, Inc. v. Bielski, No. 22-105, the defendant moved to compel arbitration in two putative class actions. The motions to
On December 14, 2022, the members of the Organization for Economic Co-operation and Development (“OECD”) (which includes various EU Member States, Mexico, Turkey, the UK and the United States) and the EU, adopted the Declaration on Government Access to Personal Data held by Private Sector Entities (“Declaration”).
On December 15, 2022, the Advocate Generals (“AG”) of the Court of Justice of the European Union (“CJEU”) issued two separate opinions in cases C‑487/21 and C‑579/21 on the right of access, pursuant to Article 15 GDPR. The first case concerns the proper interpretation and application of Article 15(3), which permits a data subject to