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Tax Labor & Employment

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

Senate Republicans Release Bill to "Repeal and Replace" the Affordable Care Act

by Littler on

On June 22, 2017, Senate Republicans released a draft of their legislation to repeal and replace the Affordable Care Act (“ACA”). After the House narrowly passed its version of ACA overhaul legislation, the American Health...more

Senate Healthcare Bill Released for Public Review

Just over four weeks after the Congressional Budget Office (CBO) released its score of the American Healthcare Act (AHCA), the bill passed by a narrow margin in the U.S. House of Representatives, the U.S. Senate released ‘The...more

Severance Agreements – Three Tax Traps for the Unwary

by Foley & Lardner LLP on

Severance agreements – especially severance agreements for terminating executives – are ripe with potential tax planning challenges and opportunities....more

2017-2018 Legislative Session: Wage Theft and Other Employment Issues

Massachusetts lawmakers continue to debate legislation this session with substantial implications for employers in the Commonwealth. Bills aimed at preventing wage theft by employers, establishing a paid family and medical...more

Trump Tax Proposal Could Create Compensation-Related Opportunities

The Trump administration’s proposed overhaul of the federal income tax system includes a reduction of the maximum federal corporate income tax rate from 35 percent to 15 percent. If enacted, the proposal — a one-page outline...more

If Timely Notice is Given, the Cost to Correct a 401(k) Exclusion Error May Be Reduced

by Dickinson Wright on

Occasionally, an employer may determine that it did not withhold deferral contributions for a new employee in accordance with the terms of its 401(k) plan. If the plan has an automatic enrollment feature, and the error is...more

Employment Law This Week: NLRB’s “Quickie Election” Rules, Layoff Doesn’t Violate FMLA, Plans Exempt from ERISA, Amended...

by Epstein Becker & Green on

We invite you to view Employment Law This Week® - a weekly rundown of the latest news in the field, brought to you by Epstein Becker Green. We look at the latest trends, important court decisions, and new developments that...more

Good Bets By A 401(k) Plan Sponsor That Will Limit Their Liability

by Ary Rosenbaum on

I’m not much of a betting man because I hate to lose. Some will say that playing the stock market is gambling, but shrewd, informed investment decisions usually do well in the end. Retirement plan sponsors can make bets that...more

The Rise of the Group Health Insurance Captive

With its “employer mandate”—i.e., the requirement that applicable large employers make an offer of group health coverage to substantially all full-time employees or face the prospect of a penalty—the Affordable Care Act (ACA)...more

Key Considerations for Asset Managers under the DOL’s Fiduciary Rule

by Ropes & Gray LLP on

On June 9, the long-anticipated compliance date for the U.S. Department of Labor’s fiduciary rule arrived. As a result, many institutions and individuals, including asset managers of open- and closed-end funds,...more

What the New Kansas Income Tax Bill Will Mean for Individuals and Businesses

by Stinson Leonard Street on

The saga of Kansas income tax law changes concluded earlier this week when Kansas lawmakers overrode Gov. Sam Brownback's veto of a bill that dismantled the governor's signature tax cuts. With the state facing an estimated...more

403(b) Pre-Approved Retirement Plans List

by Bryan Cave on

We’ve recently updated the list of 403(b) pre-approved retirement plans that have received an IRS favorable opinion or advisory letter. A favorable opinion or advisory letter for a 403(b) pre-approved plan means that the IRS...more

Tax Reform 2017 - Will it Ever Come?

by Dickinson Wright on

For tax attorneys, tax reform is always a hot topic. President Trump was elected with GOP majorities in both chambers of Congress, which would normally make the forecast for tax reform actually being enacted favorable. ...more

How Plan Sponsors Can Avoid Cutting Their Nose To Spite Their Face

by Ary Rosenbaum on

I once worked for a man who was the type of person who wouldn’t have mind to have lost $5 to save $3. I was at a Synagogue where the fundraising chairperson would only always organize events at the very last minute and never...more

ERISA Exemption Upheld for Religious-Affiliated Hospitals

Hospitals that are “church-affiliated” may be breathing easier this week, following the U.S. Supreme Court’s decision on Monday that defined benefit qualified retirement plans (a/k/a pension plans) are not subject to the...more

Documentation Relief For Hardship Distributions

by Fisher Phillips on

Retirement plans are permitted, but not required, to provide in-service distributions of elective deferrals to participants if they can show financial hardship, which is defined as a hardship that is “deemed to be on account...more

Timing is Everything: IRS Raises the Stakes for Employers Who Delay FICA Taxation of Deferred Compensation

by Ward and Smith, P.A. on

Employers, both for-profit and tax-exempt organizations, often overlook the complex FICA tax rules applicable to deferred compensation. Unfortunately, this oversight now can be a real problem for the employer. When an...more

Supreme Court Confirms Standards for ERISA’s Church Plan Exception

by Hinshaw & Culbertson LLP on

In a clear win for religiously-affiliated employers, including hospital systems and educational institutions, a unanimous Supreme Court found that a statutory exception to ERISA’s requirements for “church plans” applies to...more

Proposed 457(f) Regulations: Opportunities and Challenges

by McDermott Will & Emery on

The 2016 proposed regulations significantly expanded 457(f) plan sponsors’ ability to permit elective deferrals, use noncompetition agreements and make larger severance payments than otherwise permitted under 409A without...more

Compliance With the ERISA Fiduciary Advice Rule for Private Investment Fund Managers and Sponsors and Managed Account Advisers:...

The DOL's "fiduciary advice rule" (the "Rule") will take effect on June 9, 2017. The DOL has published FAQs on the implementation of the Rule applicable to the period between June 9th and December 31st (the "Transition...more

High Court Agrees Pension Plans Sponsored by Church-Affiliated Hospitals Are ERISA-Exempt and Upholds Decades of IRS, PBGC and DOL...

by Genova Burns LLC on

In a much-anticipated decision, on June 5 the U.S. Supreme Court held that a pension plan sponsored by a religious affiliated nonprofit hospital qualifies as an ERISA-exempt church plan even though the plan was not initially...more

Structured Thoughts: News for the financial services community, Volume 8, Issue 5

Implementing the DOL Fiduciary Rule - Background - On June 9, 2017, key provisions of the fiduciary rule adopted by the Department of Labor (“DOL”) will become applicable for most broker-dealers, as well as many...more

Updated Employer Mandate Tax Assessment Guidance: “Would You Believe …?”

by Balch & Bingham LLP on

Maxwell Smart, aka “Agent 86” in the 1960’s TV series Get Smart, claimed to have survived “fiendish” water torture – 300 gallons at the rate of one drop a minute. When disbelieved, he asked, “Would you believe a quart?” The...more

Telemedicine: Proceed With Caution

by Fisher Phillips on

One of the hottest benefit trends in 2017 is the adoption of free or low-cost “telemedicine” programs to provide employees easy and affordable access to medical care. However, you need to proceed with caution when introducing...more

We Didn’t Start The 401(k) Fire; It’s Always Been Burning

by Ary Rosenbaum on

I live in Long Island, so I think by a local law, I have to be a Billy Joel fan. He’s not up there with Aerosmith, The Eagles, and Fleetwood Mac for me, but he’s up there. I know it’s blasphemy to say it, but I always loved...more

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