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The IRS Updates Technical Guide 58 for Tax-Exempt Private Foundations: Not all clocks stop ticking

Practice: Tax-Exempt Organizations and Nonprofits

Accrued unpaid interest and principal payments will be included in calculating excise taxes on self-dealing loans after the expiration of the limitations period Last month the Internal Revenue Service (“IRS”) revised Technical Guide 58 (“TG58”) concerning the excise taxes imposed for self-dealing transactions between private foundations and disqualified persons. While
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Carmody Advises GEM Manufacturing in Sale to Core Industrial Partners

Industry: Manufacturing

Practice: Corporate & Business, Employee Benefits & Executive Compensation, Environmental, Mergers, Acquisitions, and Joint Ventures

Carmody's Corporate team lead by Tom Candrick and Kevin Palumberi advised GEM Manufacturing on its sale to Core Industrial Partners, with support from Adam Brocklehurst, Johanna Bachmair, Deborah Brancato and Mark Williams. Click here to read: Private equity firm acquires Waterbury business | Hartford Business Journal

Carmody Torrance Promotes Three to Partner

Practice: Corporate & Business, Labor & Employment, Trusts, Estates & Fiduciary

https://www.law360.com/pulse/articles/1563389/carmody-torrance-promotes-3-to-partner Carmody law firm elevates three to partner | New Haven BIZ

Carmody Torrance Sandak & Hennessey Elects Three to the Partnership

Industry: Healthcare

Practice: Corporate & Business, Labor & Employment, Litigation, Tax-Exempt Organizations and Nonprofits, Trusts, Estates & Fiduciary

Carmody has elected three of its lawyers to the partnership effective January 1, 2023. Commenting on the promotion of the new partners, Managing Partner Rick Street said: “Stephanie, Janie and Tamara are all dedicated, smart lawyers who have made significant contributions to the firm and the communities where they live
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As crypto enters the compensation world, Startups should walk before running

Practice: Corporate & Business, Emerging Companies: Start@Carmody, Employee Benefits & Executive Compensation, Labor & Employment

The use of cryptocurrency is starting to gain a substantial foothold in employment and compensation according to the U.S. Department of Labor. For startup companies and other employers, this trend should call for both excitement and caution. First, last month the DOL’s Employee Benefits Security Administration published a compliance assistance
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Treatment of Environmental Liabilities in Bankruptcy

Industry: Financial Institutions

Practice: Corporate & Business, Environmental

Attorneys Pamela Elkow and Thomas Sansone co-authored the chapter “Treatment of Environmental Liabilities in Bankruptcy” in the American Bar Association's Environmental Aspects of Real Estate and Commercial Transactions - 5th Edition.

Carmody Advised New Opportunities in the Development of CT Food4Thought

Practice: Corporate & Business, Mergers, Acquisitions, and Joint Ventures

Carmody advised its long time client New Opportunities in the development of CT Food4Thought, a project that is focused on increasing the availability of locally grown produce to communities while providing training and employment opportunities in an agricultural environment. The project also aims to increase the unrestricted revenue to support
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Carmody Torrance Sandak & Hennessey Elects Five Attorneys to the Partnership

Practice: Corporate & Business, Litigation, Real Estate & Land Use

Carmody has elected five of its lawyers to the partnership effective January 1, 2022. Commenting on the promotion of the new partners, Managing Partner Rick Street said: “All five of these talented lawyers have made significant contributions to the firm and their communities. Every day these attorneys are steadfast in
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Carmody Continues Growth with Six New Attorneys

Practice: Corporate & Business, Litigation, Real Estate & Land Use

Carmody  welcomes six new associate attorneys to the firm, demonstrating the firm’s continued growth across its offices and practices. Gideon Asemnor (New Haven) joins the firm’s Litigation practice. Before joining Carmody, Gideon practiced in the areas of professional liability, construction law, product liability, and commercial litigation at a firm in
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Carmody Torrance Sandak & Hennessey LLP Welcomes Timothy S. Klimpl As Counsel

Practice: Corporate & Business, Employee Benefits & Executive Compensation, Labor & Employment

Timothy Klimpl, of New Canaan, Connecticut has recently joined Carmody Torrance Sandak & Hennessey LLP as Counsel in the firm’s Stamford office. Tim is a seasoned attorney with experience providing ERISA advice and related services to a variety of plan sponsors and employee benefit plans, including corporate, nonprofit, multiemployer and
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