The Sixth Circuit tackled a complex question involving the interpretation and application of Internal Revenue Code Section 1256 as it applies to so-called “major-minor” currency transactions. The term “major-minor” is a reference to the fact that a currency is considered “major” if positions in it are traded through regulated futures contracts and a currency is … Continue Reading
In a published decision this week, the Sixth Circuit reviewed the dismissal of an employee’s claim for excessive withholding of FICA taxes against her employer. In affirming the district court’s refusal to remand the federal tax case and subsequent outright dismissal of the claim, the court examined artful pleading, administrative remedies, and the timing of removal … Continue Reading
The Fourth Circuit Court of Appeals yesterday rejected two challenges to the constitutionality of the mandate requiring individuals to purchase health insurance under the recently enacted Patient Protection and Affordable Care Act, Public Law 111-148. Like the Third Circuit, and unlike the Sixth and Eleventh Circuits, the Fourth Circuit held that the challengers lacked standing. … Continue Reading
