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Tax Updates

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

Good Housekeeping Tips Every 401(k) Plan Sponsor Should Follow

by Ary Rosenbaum on

Good housekeeping isn’t just about keeping your house clean, it’s about keeping everything in order. When it comes to being a 401(k) plan sponsor, good housekeeping isn’t about dusting and putting baking soda in the...more

Is a Business Tax Reform Game Plan Beginning to Take Shape?

by McDermott Will & Emery on

Substantial tax reform is underway and the business community is intently awaiting details of this activity with the aim of positioning themselves to maximize opportunities and minimize any costs or risks that reform may...more

UK Tax Round Up - September 2017

by Proskauer Rose LLP on

UK Tax News and Developments - Finance (No 2) Bill 2017 - The second Finance Bill of 2017, known as Finance (No 2) Bill 2017, has now been published. As expected, this contains most of the provisions which were dropped from...more

Equifax Breach: What Can the Hackers Do with Your Information and How Can You Protect Yourself?

by Bowditch & Dewey on

The Equifax breach is not the biggest in terms of the number of people affected (the 2016 Yahoo breach compromised data associated with over 500 million user accounts compared to the 143 million people affected by the Equifax...more

Projected Estate and Gift Tax Exemptions for 2018 – How Much Can You Transfer?

by McNair Law Firm, P.A. on

The Consumer Price Index was released by the Labor Department in August 2017. Not everyone anxiously awaits the release of these numbers but the experts have now made estimates of how they will impact estate, gift, and...more

The Netherlands - Budget 2018 - Dividend withholding tax and non-resident taxation

by Dentons on

On 19 September 2017, the Dutch government released the State’s Budget for the year 2018. The Budget includes a draft bill to expand the dividend withholding tax exemption to tax treaty countries, to introduce a withholding...more

[Webinar] BakerHostetler Tax Reform Webinar - September 27th, 3:00pm ET

by BakerHostetler on

Please join former Congressman Mike Ferguson, leader of BakerHostetler’s federal policy team, for a special webinar on tax reform. You’ll hear directly from two key decision-makers in Congress, including Rep. Peter Roskam...more

IRS Issues Proposed Guidance on the Definition of Registered Form

by Dentons on

On September 15, 2017, the Internal Revenue Service (IRS) issued proposed regulations (REG-125374-16) amending the definition of obligations that are in registered form to take into account current market practices and...more

IRS and DOL issue retirement plan relief for hurricane victims

by Dentons on

The Internal Revenue Service (IRS) has provided welcome relief to individuals affected by Hurricanes Harvey and Irma. The relief permits plan sponsors to temporarily relax restrictions on hardship withdrawals, participant...more

District Court Invalidates Wheat Ridge Anti-TIF Initiative

On September 8, 2017, a Jefferson County District Court ("Court") essentially struck down Ballot Question 300 (“BQ300”), approved by the Wheat Ridge ("the City") voters on November 3, 2015. The ballot question was an...more

Section 7C

by Hogan Lovells on

Raising the red flag on low interest and interest free loans to trusts - Over the years, trusts have consistently proved to be a reliable and attractive vehicle for many, offering flexibility and benefits with regard to...more

New California Tax Agencies’ Roles Clarified

On September 16, 2017, California Governor Jerry Brown signed Assembly Bill (A.B.) 131 into law, making various changes to the Taxpayer Transparency and Fairness Act of 2017 (Act) enacted on June 27, 2017. The Act overhauled...more

Leveraging – A Hidden Advantage Of Roth 401(k) Accounts

by Fox Rothschild LLP on

There have been numerous articles published about the advantages of Roth IRAs and Roth 401(k) accounts. While no tax deduction is available for contributions to Roths, in general, distributions of both principal and earnings...more

Tax treaty interpretation

by Hogan Lovells on

On 31 August 2017, the Dutch Court of Appeals of 's-Hertogenbosch issued judgment in a case dealing with the application of the most-favoured-nation (MFN) clause contained in the Netherlands/South Africa Double Tax Agreement...more

IRS Announces Benefits Relief For Hurricane Victims

by Fox Rothschild LLP on

In the wake of Hurricane Harvey, the IRS provided some employee benefits-related relief to plan sponsors and participants. That relief was then extended to the victims of Hurricane Irma....more

IRS Offers Tax Relief for Those Impacted by Irma, Including for 1031 Exchanges

President Trump’s declaration of a major disaster in Florida and Georgia as a result of Hurricane Irma provides important tax relief for those residing in these states. This declaration provides automatic relief for those...more

Proposed Massachusetts Tax Regulations for Online Vendors Effective October 1, 2017

by Bowditch & Dewey on

In response to public comments issued on September 8, 2017 that won’t be published in the Massachusetts Register until September 22, 2017, the Massachusetts Department of Revenue (“DOR”) will require online vendors to collect...more

Asset Management Regulatory Roundup - September 2017 - Issue 6

by Dechert LLP on

A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details on Brexit: Impact on cross-border financial services contracts; cryptocurrency: initial...more

I Owe Joint Taxes with My Spouse: What Do You Do? Innocent Spouse Relief (Part 8)

by McNair Law Firm, P.A. on

Married couples may file a joint federal income tax return together, reporting their joint income and expenses. The benefit of a joint return is that the overall tax rate may often be lower. However, if a joint return is...more

Does investing in a PFIC make sense given FATCA reporting?

by Foodman CPAs & Advisors on

Since FATCA’s implementation in 2010, investing in a Passive Foreign Investment Company (PFIC) is a questionable decision. PFICs are reportable investments and their tax regime is punitive. Under FATCA, US Taxpayers’...more

Major GST/HST changes affecting investment limited partnerships

by Dentons on

On September 8, 2017, the Department of Finance Canada released proposed amendments to the Excise Tax Act (“ETA”) that could deem certain payments from “investments limited partnerships” to its general partner (“GP”), which...more

French Elections Pave Way for Labor, Tax Reforms

In the months following the election of President Emmanuel Macron, who is perceived as pro-business, as well as a parliamentary election in which the new president’s party won the majority, companies and entrepreneurs have...more

IRS, PBGC and DOL Provide Additional Hurricane Relief

The IRS issued an announcement paralleling the relief granted to Hurricane Harvey victims to those in Florida affected by Hurricane Irma. Announcement 2017-13 (the “Announcement”) relaxes hardship distribution standards for...more

The Trump threat to 401(k) and the reality of it

by Ary Rosenbaum on

When Donald Trump was elected President last November, there were quite a few people who promised gloom and doom as if it was the end of our republic. Despite the tweets and the drama, that really hasn’t panned out yet. Many...more

Dealing with Disaster: Issues and Relief for Employee Benefit Plans

by Alston & Bird on

In the period following natural disasters such as Hurricanes Harvey and Irma, employer plan sponsors will be faced with any number of hardship-related employee benefit plan administration issues. Many of these involve...more

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