News & Analysis as of September 19, 2024

Roth Conversions

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Fiscal Cliff is a non-technical economic term used popularly to describe a series of tax increases and mandatory budget cuts set to occur at the beginning of 2013. The term "cliff" refers to the idea that such increases and cuts would be catastrophic to the fragile economy and consequently, force the economy off of a metaphorical cliff. less -

Roth Conversion Opportunities Expand, But Practical Questions Remain

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

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

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

Fiscal Cliff Legislation - Employee Benefits and Compensation Provisions of Interest

Patterson Belknap Webb & Tyler LLP on 1/18/2013

Earlier this month we notified you that that under the American Taxpayer Relief Act of 2012—i.e., the “fiscal cliff legislation”—Congress extended the ability of employers to pay or reimburse an employee on a tax-free basis...more

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

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

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

Congress Avoids the Fiscal ‘Cliff’—Now What?

McDermott Will & Emery on 1/10/2013

The new federal tax bill establishes permanent income, estate, gift and generation-skipping transfer tax provisions that present additional planning opportunities for 2013 and beyond. ...more

New Law Expands “In-Plan” Roth 401(k) Conversions

McDermott Will & Emery on 1/10/2013

The American Taxpayer Relief Act of 2012 (the "fiscal cliff" bill) allows employers to amend 401(k), 403(b) and governmental 457(b) plans to permit participants to convert pre-tax account balances to Roth account balances. ...more

Fiscal Cliff II: What’s Next For Tax Reform?

K&L Gates LLP on 1/9/2013

On January 1, 2013, the Senate and House of Representatives passed the American Taxpayer Relief Act of 2012 (“ATRA”), signed into law by President Obama on January 2. ATRA averts the “fiscal cliff” by making permanent the...more

Legal Alert: The Cliff-Hanger (Chapter One) is Over: Highlights of the American Taxpayer Relief Act of 2012

Eversheds Sutherland (US) LLP on 1/8/2013

On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the Act), effective as of January 1, 2013. In general, the Act made permanent for most taxpayers the tax rate cuts first enacted...more

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Fiscal Cliff › Income Taxes › Roth Conversions

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