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New IRS Guidance on Obtaining Refunds for Net Operating Loss Carrybacks, Corporate AMT Carryforward Credits and Filing Amended Returns for Partnerships

The Energy Law

1] The Internal Revenue Service (“ IRS ”) now has published guidance on how refunds attributable to the newly-permitted 5-year carryback of NOLs in section 172 of the Internal Revenue Code (the “ Code ”) and the accelerated use of AMT Carryforward Credits in section 53(e) of the Code can be obtained.

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2020 Louisiana Investment Adviser Update

The Energy Law

Starting on May 1, 2020, and no later than June 30, 2020, investment advisers (and broker-dealers) will be required to file a Form CRS electronically through the IARD (the CRD for broker-dealers). These priorities generally follow the SEC’s 2019 examination priorities. Form CRS is part of Form ADV (ADV Part 3). Available at [link].

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Maritime Industry COVID 19 Update

The Energy Law

In response to the continuing COVID-19 epidemic, the United States Coast Guard, Centers for Disease Control and Prevention, U.S. Equal Employment Opportunity Commission, and U.S. Customs and Border Protection have issued a series of administrative guidelines or regulations broadly affecting international maritime commerce.

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Guidance and Relief for Retirement Plans Due to the COVID-19 Pandemic

The Energy Law

Good faith delivery includes use of electronic means where the plan fiduciary reasonably believes participants have effective access, including email, text messages, and continuous access websites. More information on Participant Loans under the CARES Act can be found here.

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Louisiana and Texas COVID-19 Stay-at-Home Orders and Effects on State Courts

The Energy Law

Day-to-day life has been dramatically impacted by the coronavirus disease 2019 (COVID-19), and many courts in Louisiana and Texas have been forced to close or limit operations in conjunction with stay-at-home orders. A brief discussion of how COVID-19 has affected Louisiana and Texas courts is discussed here.