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Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

President Trump’s Tax Plan

by Butler Snow LLP on

In rounding out his first 100 days in office, President Trump released an overview of his proposed tax plan. The one page bullet point plan consists of general taxpayer relief for individuals in the form of a simplified tax...more

How to Avoid Costly Beneficiary Designation Litigation – Helpful Hints for All Benefit Plans

by Foley & Lardner LLP on

When administering an employee benefits plan, it is critically important to provide clear and specific instructions as to how a participant can designate a beneficiary. A recent federal district court opinion in Florida...more

Tax Truths: Volume 1, No. 2 – December 2016

by Ballard Spahr LLP on

AN ANALYSIS OF TAX LAW PROPOSALS OF THE PRESIDENT-ELECT AND THE HOUSE - President-elect Trump made tax reform a highlight of his campaign, calling for fewer tax brackets, lower individual rates, and reduced corporate tax...more

Executrix Held Liable Under Federal Claims Statute For Actions Taken Prior to Appointment as Executrix

by Charles (Chuck) Rubin on

A decedent died while owing over $340,000 in unpaid federal income tax liabilities. His estate was insolvent. The assets of his estate consisted almost entirely of a 100% interest in one corporation and 50% of another...more

Guide To Doing Business in Australia: Taxation (Updated)

TAXATION - It is not possible to give a complete outline of the scope of the taxation system in this guide. A brief outline of the basic taxation principles and some of the major forms of taxation are discussed...more

Reach Out And Designate Someone?

The seemingly staid world of retirement plan beneficiary designations was surprised by a recent federal appeals court decision suggesting that a new beneficiary could be designated by a telephone call. ...more

Divorce and Beneficiary Designations—Florida Law Changes

by Carlton Fields on

Introduction - This article discusses a significant change in Florida law regarding the effect of dissolution or annulment of marriage on designations of one former spouse as beneficiary upon death of the insured other...more

Maine Governor Proposes Major State Tax Restructuring

by Pierce Atwood LLP on

Maine Governor Paul LePage has proposed a major restructuring of Maine’s tax system as part of his FY 2016-2017 budget submission. Generally, the governor’s proposal decreases the state’s reliance on income tax revenue and...more

Family Office Key Employees’ Use of Employee Investment Trusts

by Perkins Coie on

Recent Development - Family office key employees have new flexibility under recent SEC guidance regarding the nature and range of persons who can properly be involved in the administration of their trusts. ...more

Eighth Circuit Decisions Reminds Employers Of Importance Of Granting ERISA Plan Administrators Discretion To Interpret Plan Terms

Recently, the United States Court of Appeals for the Eighth Circuit released an opinion which highlights the importance of ensuring ERISA plan documents grant plan administrators the discretion to construe and interpret the...more

Litigation Alert: Trust/Owner Not 'Trade or Business' for Withdrawal Liability Purposes

by Reed Smith on

Pacific Coast Shipyards Pension Fund v. Nautical Engineering, Inc. - On January 13, 2014, the U.S. District Court for the Northern District of California (the "District Court") granted a motion to dismiss, holding that...more

Important 2014 Tax Developments

by Pessin Katz Law, P.A. on

The list is not intended to be exhaustive. - Income: IRS rules that incentives to health care professionals and hospitals for using electronic records are income to those receiving the...more

Pension News - November 2013

by DLA Piper on

In This Issue: - Automatic enrolment - The Pensions Regulator - Pension Protection Fund - Department for Work and Pensions - Case law - Other News - On The Horizon - Contact Details -...more

Timely Year-End Tax Planning Can Reduce Taxes

by McNees Wallace & Nurick LLC on

Year-end tax planning could be especially productive this year because timely action could nail down tax breaks that won’t be around next year unless Congress acts to extend them, which at the present time, looks doubtful....more

Energy Newsletter - September 2013

by King & Spalding on

In This Issue: - New Rule Proposed By OSHA Regarding Silica Exposure Likely To Impact Fracking And Increase Risk Of Litigation - Texas Supreme Court Reaffirms Minerals Estate's Superior Rights -...more

Courts Do Not Always Agree

I blogged recently about a decision from a federal district court in Virginia (Eastern District) involving a widow who sought to recover life insurance benefits from her late husband’s employer-sponsored group term life...more

Employment Cannot Be Devised [Florida]

by Charles (Chuck) Rubin on

Estate planners often have clients that want to include directions in their wills and trusts that don’t directly relate to dispositions of assets....more

State Law Cannot Reallocate Life Insurance Proceeds That Accrued To Named Beneficiary Under Federal Law

The Supreme Court recently held that federal law pre-empts state law that attempts to reallocate proceeds accruing to the designated beneficiary of a federal life insurance policy. Hillman v. Maretta, 133 S. Ct. 1943 (2013)...more

International Taxation

by Jackson Walker on

INTRODUCTION - A. Foreign Persons - Doing Business or Investing in the U.S.. Foreign persons who plan to do business in the United States or invest in a new or existing U.S. business entity are faced with a...more

Takeover Code Amendments Extend the Rights of Pension Scheme Trustees

by Morgan Lewis on

Amendments include new requirements regarding offerors' intentions, documents provided to trustees, trustees' opinions on offers, and publication of agreements between offerors and trustees....more

Rhode Island Opens Tax Amnesty Window by David C. Morganelli, Esq. and Ryan W. Sawyer, Esq.

by Partridge Snow & Hahn LLP on

The Rhode Island General Assembly recently passed the “2012 Rhode Island Tax Amnesty Act" which was promptly signed into law by the Governor on June 15, 2012. The Amnesty Act authorizes the Rhode Island Division of Taxation...more

Business Owners – Is Now the Time to Sell?

by Ronald Adams on

As business revenues and values have declined over the past number of years, many owners delayed the possible departure from their business through retirement or sale, either waiting for things to get better, or as result of...more

Don't Hold Annuities In Trusts - Well, Maybe It's Okay

by Charles (Chuck) Rubin on

Section 72 of the Internal Revenue Code generally provides favorable deferral of income tax for qualified annuities. However, Code Section 72(u) disallows such favorable treatment when the annuity is owned by someone other...more

McAfee & Taft: AgLINC: Agriculture & Equine Industry Legal Information News & Commentary - March 2010

by McAfee & Taft on

Inside This Issue: 2 Landowner considerations when negotiating wind energy leases 3 Avoiding pitfalls associated with crop insurance 3 DOL issues rule change for workers on farms 4 Do you need to update your estate...more

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