FICA Taxes › American Taxpayer Relief Act

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News & Analysis as of May 22, 2013

Corporate Law Report: Economic Espionage Act, Top FCPA Enforcement Actions, Trademark Audits, and More

American Taxpayer Relief Act of 2012: Expanded Roth Conversions and Other Benefit and Retirement Related Provisions

by King & Spalding on 2/5/2013

On January 2 , 2013, President Obama signed the American Taxpayer Relief Act of 2012 (H.R. 8) (the “Relief Act”) into law. While the principal intention of the Relief Act was to avert the key elements of the “fiscal cliff” by...more

IRS Provides Administrative Guidance On Excludable Transportation Benefit Limits, Retroactively Increased As Of January 1, 2012

by Randall I. Cherkas, Michael Kadlec, Andrew J. Rudolph | Pepper Hamilton LLP on 1/25/2013

On January 16, 2013, the Internal Revenue Service (IRS) issued Notice 2013-8 providing a special administrative procedure for employers with respect to 2012 transit benefits. Under Section 132(f) of the Internal Revenue Code...more

High Net Worth Family Tax Report, Vol. 8, No. 1 - January 2013

by Loeb & Loeb LLP on 1/24/2013

Table of Contents: Remember to file your gift tax return and other follow-up related to 2012 gifts; Review estate plans in light of $5 million exemption becoming permanent; Annual exclusion amount for gifts increased for...more

Employers Can Obtain Refund for Excess FICA Tax Paid as Result of Increased Excludable Limit for Transit Benefits

by Maureen O'Brien, Ruth Wimer | McDermott Will & Emery on 1/23/2013

On January 11, 2013, the Internal Revenue Service published Notice 2013-8 providing a special administrative procedure for employers with respect to 2012 transit pass benefits. The American Taxpayer Relief Act retroactively...more

Congress Approves The American Taxpayer Relief Act Of 2012, Preventing "Fiscal Cliff"

by Christopher Abrams, Alicia Kirkpatrick, D. Scott Lindstrom, William J. Sanders, David N. Zimmerman | Polsinelli on 1/22/2013

After much contention,Congress passed the American Taxpayer Relief Act of 2012, and President Obama signed the legislation on January 2, 2013. The Act avoids automatic sunset provisions that were scheduled to take effect...more

American Taxpayer Relief Act Affects Mass Transit Benefits and Other Employee Benefits

by Emily Erstling, Paul M. Hamburger, Lisa Berkowitz Herrnson, Steven Weinstein | Proskauer Rose LLP on 1/21/2013

On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 ("ATRA") into law. ATRA, adopted as an alternative to stepping over the "fiscal cliff," preserves most of the Bush-era tax cuts and...more

IRS Guidance to Implement Retroactive Increase in 2012 Mass Transit Benefit Limits—January 31 Deadline

by Vicki M. Nielsen | Ogletree, Deakins, Nash, Smoak & Stewart,... on 1/18/2013

On January 16 the Internal Revenue Service (IRS) issued guidance on the application of the retroactive increase in excludible transit benefits, as enacted under the American Taxpayer Relief Act of 2012 (ATRA). IRS Notice...more

Legal Alert: Correcting 2012 Withholding Errors

by Jeffrey S. Ashendorf | FordHarrison on 1/18/2013

One of the changes made by the American Taxpayer Relief Act ("ATRA") was to restore the $240 monthly limit on employer-provided transit passes or commuting transportation, which had reverted to $125 as of January 1, 2012. ...more

Recent tax law changes of 2013

by Sheppard Mullin Richter & Hampton LLP on 1/15/2013

On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 into law. Summarized below are highlights of those and other changes to Federal tax laws affecting income, payroll, gift and estate, and...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

Congress Narrowly Avoids "Fiscal Cliff," But Not Increase In 2013 Social Security Tax Rate

by Rena Pirsos | XpertHR - Partnered with LexisNexis on 1/5/2013

Keeping Americans in suspense until the very last minute, Congress narrowly averted the "fiscal cliff" by passing the American Taxpayer Relief Act of 2012 (ATRA), H.R. 8, late in the evening on New Year's Day. President Obama...more

FICA Tax “Holiday” Ends With 2012, and Social Security and Medicare Contributions Increase For Some Employees

by Kristyn Bunce DeFilipp, Robert A. Fisher | Foley Hoag LLP on 1/3/2013

On January 1, 2013, Congress approved the American Taxpayer Relief Act of 2012, the bill designed to avert the so-called “fiscal cliff.” The Act, which President Obama signed into law yesterday, extended certain tax relief...more

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