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Retirement Plan Income Taxes New Legislation

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 37 - March 2024

Senate committee meetings continue under the Gold Dome as this report is published on Wednesday. With the Senate’s requirement that bills pass out of committee before the chamber convenes for Legislative Day 38, legislators...more

McDermott Will & Emery

What's In and What's Out (For Now)

McDermott Will & Emery on

After more than two months of negotiations in the US Congress, a slimmed-down version of the “Build Back Better Act” narrowly passed the US House of Representatives on November 19, 2021. All but one House Democrat voted for...more

Snell & Wilmer

Review of Qualified Plan Compensation Definition May be Needed Due To Tax Reform

Snell & Wilmer on

Tax reform made few changes that directly impact qualified retirement plans; however, it made some changes that may indirectly impact qualified retirement plans. We previously blogged on the indirect changes that tax reform...more

Sullivan & Worcester

Employment & Benefits News and Developments

Sullivan & Worcester on

NEW TAX LAW MAKES CHANGES TO COMMUTING BENEFITS - ...The Tax Cuts and Jobs Act of 2017 (“TCJA”) generally eliminates employer deductions for commuter transportation and parking fringe benefits. This includes deductions...more

Sherman & Howard L.L.C.

Tax Cuts and Jobs Act – Impact on Employee Benefit Plans

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (the “Act”) into law. While the Act is extensive, this Advisory discusses only the changes made to employee benefits such as qualified retirement plans,...more

Akin Gump Strauss Hauer & Feld LLP

President Trump Signs Tax Reform Bill into Law

On December 15, 2017, the House and Senate conference committee agreed on the terms of the final tax reform bill, previously referred to as the “Tax Cuts and Jobs Act” (the “Act”), which was subsequently approved by both...more

Stinson LLP

Changes in the Tax Cuts and Jobs Act of 2017 that Impact Individual Taxpayers for Non-Business Items

Stinson LLP on

The Tax Cuts and Jobs Act of 2017 makes substantial changes to the income taxes of individuals. The Act's individual changes noted in the attached chart generally expire on January 1, 2026, and the speculation will...more

Schwabe, Williamson & Wyatt PC

New Tax Law Provisions Affect Employee Benefit Programs

The Tax Cuts and Jobs Act (the “Act”) recently enacted by Congress will soon become effective. The primary focus of the new law is the reduction of corporate and individual income taxes. Nevertheless, a number of provisions...more

BakerHostetler

The Impact of the 2017 Tax Reforms on Employment-Based Benefits and Tax-Favored Compensation

BakerHostetler on

Whenever the United States Congress takes up “tax reform,” there always is a danger that the Congress will pay for such tax reform, in part, by eliminating many of the tax incentives that enable employers to provide...more

Baker Donelson

New Tax Plan Changes Rules on Health Coverage, Employee Benefits and Executive Compensation

Baker Donelson on

While primarily focused on individual and business tax cuts and reform, the final Republican tax cut bill includes several provisions expected to impact health care coverage and expenses. First, the bill effectively repeals...more

Robinson & Cole LLP

New Connecticut Mandatory Income Tax Withholding Requirements for Pension and Annuity Payments

Robinson & Cole LLP on

New legislation, effective January 1, 2018, will require certain payors of pensions and annuities to withhold Connecticut state income tax from distributions made from an employer pension, annuity, profit-sharing plan, stock...more

McDermott Will & Emery

Puerto Rico Legislation May Require Changes to Retirement Plans

McDermott Will & Emery on

Puerto Rico enacted new legislation in February that will require changes to tax-qualified retirement plans covering Puerto Rico employees, including both Puerto Rico-only and dual-qualified (US and Puerto Rico) retirement...more

McDermott Will & Emery

Tax Prepayment Window Closes on October 31, 2014, for Puerto Rico Retirement Plans

McDermott Will & Emery on

On July 1, 2014, Puerto Rico adopted new legislation (Tax Act 77), which provides a window from July 1, 2014 – October 31, 2014, for participants in Puerto Rico retirement plans to prepay at reduced rates Puerto Rico income...more

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