News & Analysis as of September 21, 2024

Payroll Taxes › Alternative Minimum Tax

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Payroll taxes are taxes that are often calculated and remitted based on a percentage of an employee's wages, but they can also include fixed charges. Payroll taxes consist of two types of taxes: 1) taxes that are withheld by an employer from an employee's wages and 2) taxes paid by an employer based on the amount of an employee's wages. These taxes may be advanced income tax payments on behalf of an employee. They are also employer and employee payments to a variety of government programs, such as social security, and unemployment/disability insurance. less -

Inflation Reduction Act

White and Williams LLP on 9/21/2022

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (“IRA”) into law. While much of the legislation is geared towards climate change mitigation, clean energy, and provisions to promote health care...more

Tax Relief to Help Weather the Storm of COVID-19

Jaburg Wilk on 4/29/2020

As the COVID-19 pandemic has wreaked havoc on our personal, financial and business lives, the government has responded with legislative and administrative relief. This is a high-level summary of some of the enacted measures...more

Key Tax Provisions Affecting Businesses Contained in the CARES Act

Vedder Price on 4/3/2020

The economic aid and recovery bill that has been the subject of heated debate within Congress and much coverage in the news media was signed into law by President Trump on March 27, 2020. The new law, known as the...more

President Signs $2 Trillion CARES Act With Significant Tax and Workforce Relief for Businesses and Individuals

BakerHostetler on 3/30/2020

On March 25, 2020, the Senate passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, an approximately $2 trillion so-called Phase 3 relief and stimulus package containing a host of tax and economic provisions...more

Tax Implications of COVID-19

Polsinelli on 3/23/2020

The U.S. Congress has been moving swiftly in recent weeks to address the COVID-19 pandemic. The $8.3 billion Coronavirus Preparedness and Response Supplemental Appropriations Act was signed into law by President Trump on...more

Unexpected Risks of Early Exercise Incentive Stock Options

Dorsey & Whitney LLP on 7/27/2017

Canadian companies and their outside counsel occasionally ask about the ability to grant early exercise incentive stock options (“ISOs”) to limit the impact of the U.S. alternative minimum tax (“AMT”) to their U.S. employees....more

Tax Truths: Volume 1, No. 2 – December 2016

Ballard Spahr LLP on 12/8/2016

AN ANALYSIS OF TAX LAW PROPOSALS OF THE PRESIDENT-ELECT AND THE HOUSE - President-elect Trump made tax reform a highlight of his campaign, calling for fewer tax brackets, lower individual rates, and reduced corporate tax...more

Understanding the American Taxpayer Relief Act of 2012

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

The Fiscal Cliff Deal - What does it mean for you and your business?

Butler Snow LLP on 1/18/2013

In the early morning hours of January 1, 2013, the Senate approved the American Taxpayer Relief Act of 2012 (the “Act”) by a vote of 89-8. Less than 24 hours later, the House of Representatives also approved the Act by a vote...more

Estate Planning After the Fiscal Cliff Deal

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

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: Tax Implications for U.S. Taxpayers Living Abroad

Patterson Belknap Webb & Tyler LLP on 1/11/2013

Although the American Taxpayer Relief Act of 2012 (“Fiscal Cliff Legislation”) passed last week does not contain any sweeping changes targeted at U.S. taxpayers living abroad, a number of provisions are relevant to such U.S....more

Washington Insight - Special Edition: Congress Steps Away From Fiscal Cliff

King & Spalding on 1/11/2013

For months in Washington, and beyond, attention has been focused on the "fiscal cliff" -- the combination of the expiration of the Bush tax cuts and the looming budget cuts referred to as "sequestration." Negotiations led by...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

New Year's Day Federal Tax Legislation

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

Fiscal Cliff Tax Changes

Troutman Pepper on 1/7/2013

On New Year’s Day 2013, the “American Taxpayer Relief Act of 2012” (the Act) was enacted to avoid the impact of automatic “fiscal cliff” tax increases. The Act, effective January 1, 2013, retains and makes permanent the...more

The Permanent (For Now) Fiscal Cliff Compromise of 2012

Troutman Pepper on 1/4/2013

In dramatic fashion, Congress adopted its New Year’s tax resolutions just in time to save us from falling off the cliff. The American Taxpayer Relief Act of 2012 (ATRA) passed the Senate in the wee hours of New Year’s...more

President Obama Signs "Fiscal Cliff" Legislation into Law

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

Burr Alert: The Other Side Of The "Fiscal Cliff"

Burr & Forman on 1/3/2013

Congress began 2013 by passing "The American Taxpayer Relief Act of 2012" (the "Act") reflecting a plan negotiated by Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.) to avoid a series of tax hikes...more

Washington Watch: House GOP Leadership and the ‘Fiscal Cliff’

McDermott Will & Emery on 1/3/2013

An analysis of the year-end fiscal negotiations and their consequences. As the United States rapidly approached the “fiscal cliff,” negotiations between President Barack Obama and House Speaker John Boehner (R-OH)...more

Post-Fiscal Cliff: What the New American Taxpayer Relief Act Does and Does Not Do

Holland & Knight LLP on 1/3/2013

At midnight on December 31, 2012, the United States briefly fell off of the much-anticipated and highly publicized "fiscal cliff," with income tax rates rising on most taxpayers and a host of substantial spending cuts...more

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Payroll Taxes › Alternative Minimum Tax

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