Unlocking the Potential of Phantom Equity: Incentive and Compensation Strategies to Attract and Retain Top Talent
Navigating the landscape of employee incentives can be complex, particularly when exploring non-traditional compensation methods. Phantom stock, also known as synthetic equity, offers a unique solution for business owners seeking to incentivize and retain key personnel without giving away ownership in the company. Below, PilieroMazza attorneys answer commonly asked questions regarding the nature of phantom stock, outlining its structure, benefits, and the strategic considerations involved with this valuable tool for attracting and retaining top talent. What is a phantom plan . . . Read More
Novation and Recertification Requirements: A Post-Closing Guide for GovCon M&A Deals
After the sale or acquisition of a business or its assets, there are often one or more post-closing requirements that business owners must complete. In deals involving government contractors, two of these requirements are especially important: contract novation and size recertification. Below, PilieroMazza attorneys provide a post-closing guide for government contractors on meeting novation and recertification requirements to avoid costly penalties such as loss of contract award or criminal liability. Overview Parties preparing to acquire a small business government contractor, . . . Read More
Corporate Transparency Act, Part 1: Constitutionality, Exemptions, and Substantial Control
The Corporate Transparency Act (CTA), which came into effect on January 1, 2024, has significant implications for government contractors and commercial businesses. This client alert summarizes recent developments in the CTA—including constitutionality, physical office requirements, unpopulated joint ventures, and substantial control—to help businesses comply with and avoid harsh enforcement penalties. If you formed an entity on or after January 1, 2024, and are not subject to one of the exemptions, then you must file your initial BOI report within 90 days . . . Read More
Clocking in with PilieroMazza: #RES2024: New Workforce Updates for Tribally Owned Entities in Government Contracting
Weekly Update for Government Contractors and Commercial Businesses – March 14, 2024
If you have questions concerning the content below, please visit this link . Upcoming Events: Register to attend PilieroMazza’s upcoming events here . Recent Thought Leadership: Check out PilieroMazza’s recent client alerts and blogs here . Podcasts: Listen to PilieroMazza’s podcasts GovCon Live! here and Clocking in with PilieroMazza here . GOVERNMENT CONTRACTS Keys to Avoiding GAO’s Timeliness Trap, PilieroMazza Blog, Isaias “Cy” Alba, IV , Eric Valle GAO’s recent decision in Marathon Medical Corporation provides a cautionary tale for government contractors seeking to protest the terms by which an agency conducts a procurement. . . . Read More
PilieroMazza Annual Review: What DOJ’s Annual FCA Report Means for Government Contractors
Click here to view the recorded session. The False Claims Act remains an effective enforcement tool for the Justice Department, obtaining judgments over $10 Billion in the last three fiscal years combined. While the FCA remains the primary vehicle for the government to recover funds obtained by fraud or a material misrepresentation, what trends and mitigation strategies should government contractors know now to better prepare for FCA enforcement in the future? Join Matt Feinberg and Jackie Unger —attorneys from PilieroMazza’s False Claims Act and Audits & Investigation teams —reveal key takeaways from . . . Read More
Employee Retention Credit: Moratorium, Withdrawals, and March 22 Deadline for Voluntary Disclosure Program
The Employee Retention Credit (ERC)—sometimes called the Employee Retention Tax Credit or ERTC—is a refundable tax credit for certain eligible businesses and tax-exempt organizations that had employees and were affected during the COVID-19 pandemic. Amid growing concerns about aggressive marketing and scams involving fraudulent activity, the Internal Revenue Service (IRS) has announced several initiatives aimed at helping small businesses concerned about an ineligible ERC claim. In this client alert, PilieroMazza summarizes key points of the ERC and important considerations to . . . Read More
Keys to Avoiding GAO’s Timeliness Trap
GAO’s recent decision in Marathon Medical Corporation provides a cautionary tale for government contractors seeking to protest the terms by which an agency conducts a procurement. Specifically, Marathon reinforces a little-known rule: the Government Accountability Office considers an agency’s receipt of proposals to be adverse agency action in response to an agency level protest challenging the terms of a solicitation, and the ten-day rule for filing a subsequent protest at GAO begins running from the date on which the agency . . . Read More
PilieroMazza Annual Review: What DOJ’s Annual FCA Report Means for Government Contractors
What DOD’s Final DFARS Rule Means for Defense Contractors, American Manufacturing, and Protecting the Nation’s Supply Chain
On February 15, 2024, the Department of Defense (DOD) issued a final rule amending the Defense Federal Acquisition Regulation Supplement (DFARS) to implement Executive Order (EO) 14005, Ensuring the Future Is Made in All of America by All of America’s Workers, and strengthen Buy American Act (BAA) domestic preferences in DOD procurements. Below, PilieroMazza explains the final rule’s implications for defense contractors in the manufacturing sector and safeguarding the defense industry’s supply chain. Evolution of BAA Domestic Preference Rules The DOD’s final . . . Read More