Labor & Employment Law, Wills, Trusts, & Estate Planning, Tax Law

Understanding the American Taxpayer Relief Act of 2012

by W. King Copler | Chambliss, Bahner & Stophel, P.C. on 2/14/2013

The American Taxpayer Relief Act of 2012 was signed into law on January 2, 2013. The Act permanently extends many of the Bush-era tax cuts, while increasing tax rates for higher income taxpayers. Below is a brief summary of...more

IRS Releases Updated Retirement Plan Correction Procedures

by Harry Atlas, Jessica Kuester, Lisa Tavares | Venable LLP on 1/23/2013

The IRS recently released the long-awaited updated version of the Employee Plans Compliance Resolution System (EPCRS), Revenue Procedure 2013-12. EPCRS allows the sponsor of a tax-deferred retirement plan to voluntarily...more

Roth Conversion Opportunities Expand, But Practical Questions Remain

by Jeff Belfiglio | Davis Wright Tremaine LLP on 1/21/2013

The recent “fiscal cliff” tax law, the American Taxpayer Relief Act (ATRA), includes a provision effective Jan. 1, 2013 that greatly expands the ability of plan participants to convert pre-tax plan accounts to after-tax Roth...more

Estate Planning After the Fiscal Cliff Deal

by Katten Muchin Rosenman LLP on 1/17/2013

Now that a deal averting the fiscal cliff has finally been reached, many of the tax and planning issues that have been mired in uncertainty for the past two years (and even longer in some cases) may be resolved. Numerous tax...more

IRS Releases Revised Retirement Plan Correction Program Including Important New Guidance For 403(b) Plans

by David Rosner, C. John Wentzell, Jr. | Ogletree, Deakins, Nash, Smoak & Stewart,... on 1/16/2013

On December 31, 2012, as Times Square in New York was getting ready to drop the crystal ball, the Internal Revenue Service (IRS) dropped long-awaited guidance regarding retirement plan corrections in the form of Revenue...more

How Will the American Taxpayer Relief Act of 2012 Affect You - Details of Legislation passed by Congress to Avoid Fiscal Cliff

by Robert Howell, Westray Veasey | Poyner Spruill LLP on 1/15/2013

On January 2, President Barack Obama signed into law the American Taxpayer Relief Act of 2012, H.R. 8 (ATRA), preserving many of the key tax provisions passed during the George W. Bush presidency, which were scheduled to...more

American Taxpayer Relief Act of 2012 Approved by Congress and Signed by the President

by Dechert LLP on 1/11/2013

Summary - President Obama on January 2, 2013 signed into law the American Taxpayer Relief Act of 2012 (the “Act”). The Act extends certain tax rates, tax credits, and other provisions previously enacted by other tax...more

IRS Releases Updated Employee Plan Correction Procedures

by Lori Atkin, Dennis R. Bonessa, Dodi Walker Gross, John D. Martini, Allison Warden Sizemore | Reed Smith on 1/9/2013

On December 31, 2012, the Internal Revenue Service (the “IRS”) released Revenue Procedure 2013-12, which contains long-awaited updates to the Employee Plans Compliance Resolution System (“EPCRS”), previously set forth in...more

Fixing the Debt: Update on U.S. Fiscal Cliff Crisis (9th Edition) - January 1, 2013

by Rosemary Becchi, Micah Green, Erin McGrain, Daris Meeks, Emanuel Rossman, Aubrey Atwood Rothrock, III, Joseph Urso | Patton Boggs LLP on 1/8/2013

THE LEGISLATION - Following a day of tumultuous House Republican caucus deliberations, at 11:00 pm, the House passed The American Tax Relief Act of 2012, a cliffhanger deal negotiated by Vice President Biden and Senate...more

The American Taxpayer Relief Act of 2012

by Luis Patiño, Taylor Perodeau, Laura A. Taylor | Venable LLP on 1/8/2013

Introduction - As you no doubt have heard, the U.S. was set to plunge over the “fiscal cliff” on New Year’s Day if Congress failed to act. In the early morning hours of New Year’s Day, a deal was made that averted the...more

New Year's Day Federal Tax Legislation

by Jeffrey Mannisto | Manatt, Phelps & Phillips, LLP on 1/7/2013

On January 1, 2013, the House and Senate approved the American Taxpayer Relief Act of 2012 (H.R. 8, as amended by the Senate) (the "2012 Tax Relief Act"). The 2012 Tax Relief Act, signed into law by President Obama on...more

Highlights of the American Taxpayer Relief Act of 2012

by Ropes & Gray LLP on 1/5/2013

President Obama has signed the American Taxpayer Relief Act of 2012 (the “Act”). The Act partially averts the so-called “fiscal cliff,” making permanent many Bush-era tax rate provisions while increasing taxes on...more

President Obama Signs "Fiscal Cliff" Legislation into Law

by Edward Beckwith, John Lehrer II, Michael Nydegger, Jeffrey Paravano, Edward Ptaszek, Jr., Paul Schmidt, Christopher Swift, William J. Weber | BakerHostetler on 1/4/2013

As you likely have heard, the President signed the American Taxpayer Relief Act (H.R. 8) (the "Act") on January 2, 2013. The Act, popularly known as the "fiscal cliff" legislation, permanently extends the Bush era tax cuts...more

New 3.8% Medicare Tax on Investment and Unearned Income Beginning in 2013

by Thompson Coburn LLP on 11/14/2012

Starting January 1, 2013, a new 3.8% Medicare tax will apply to the investment and “unearned income” of individuals, trusts and estates. The tax is intended to apply to income exempt from the regular FICA or self-employment...more

IRS Announces COLA Increases for Dollar Limitations on Benefits and Contributions

by Jason A. Rothman | Ogletree, Deakins, Nash, Smoak & Stewart,... on 10/19/2012

On October 18, 2012 the Internal Revenue Service (IRS) announced the cost-of-living adjustments (COLA) impacting tax-qualified pension plans for 2013....more

The New GST/HST Regime for Registered Pension Plans – An Update on the Deemed Supply and Master Trust Issues

by Osler, Hoskin & Harcourt LLP on 9/6/2012

The sales tax compliance associated with a registered employee pension plan funded through a trust (RPP Trust) has become significantly more complex since certain new GST/HST rules took effect, beginning with the 2010 fiscal...more

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

by Partridge Snow & Hahn LLP on 8/30/2012

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

Department of Labor Issues Guidance on New ERISA Fee-Transparency Rules

by Gary Young on 5/29/2012

Department of Labor Issues Guidance on New ERISA Fee-Transparency Rules by Gary S. Young on May 29, 2012 July 1, 2012 is a significant date for Plan Sponsors and other Plan Fiduciaries. By that date, they should have...more

The Department of Labor Fee Transparency Initiatives: Part 2 - Mandatory Service Provider Fee Disclosures - Updated

by Butler, Snow, O'Mara, Stevens and Cannada,... on 5/1/2012

For a number of years, the Department of Labor has been concerned about the amount of fees and expenses charged to tax-deferred retirement plans and the transparency of fee and expense information available to plan...more

New Tax Guidance on Use of Annuities in Retirement Plans

by Sutherland Asbill & Brennan LLP on 2/6/2012

On February 2, 2012, the Internal Revenue Service (IRS) and Department of Treasury, together with the White House, released four pieces of guidance with the stated purpose of easing certain burdens on providing annuity...more

Legal Update - November 2011

by Trenam Kemker on 11/15/2011

In This Issue: - New IRS Program Offers Tax Relief from Misclassification of Workers - The New Florida Power of Attorney Act Excerpt from New IRS Program Offers Tax Relief from Misclassification of...more

Business Owners – Is Now the Time to Sell?

by Ronald Adams on 9/20/2011

We are holding a Complimentary Business Succession Seminar on September 29th, 2011 at the Hilton Hotel in Mesa (U.S. 60 and Alma School Road) from 4:00 to 5:30 PM, to help business owners turn their dream of succession into...more

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

by Charles (Chuck) Rubin on 6/27/2011

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

The Department of Labor Fee Transparency Initiatives: Part 2 - Mandatory Service Provider Fee Disclosures

by Butler, Snow, O'Mara, Stevens and Cannada,... on 6/1/2011

For a number of years, the Department of Labor has been concerned about the amount of fees and expenses charged to tax-deferred retirement plans and the transparency of fee and expense information available to plan...more

How to Maximize Your Life Insurance Premium Payments by Minimizing Premium Expense Charges

by Maureen O'Leary Guth on 4/14/2011

Do you own any Universal Life, Variable Universal Life or Guaranteed Universal Life insurance policies? If you do, you may be able to increase the cash value in your policies simply by strategically timing your premium...more

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Labor & Employment Law › Wills, Trusts, & Estate Planning › Tax Law