News & Analysis as of

Wage and Hour Tax Deductions

Fisher Phillips

Employers Must Meet Federal Prevailing Wage and Apprenticeship Requirements to Earn New Tax Credits and Deductions

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Federal officials recently outlined prevailing wage and apprenticeship requirements that projects need to adopt if they want to take advantage of the enhanced tax credits and deductions created by the Inflation Reduction Act...more

Gould + Ratner LLP

The Impact of the $900 Billion Appropriations Act on Employers and Their Employees

Gould + Ratner LLP on

Last week, Congress passed a $900 billion Appropriations Act. In addition to providing much-needed funding for vaccine distribution, direct payments to the vast majority of Americans, and a renewal of the popular Paycheck...more

Troutman Pepper

How to Free Up Access to Employer Assets and/or Ease Employee Access to Vested Benefits During COVID-19

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Who Needs to Know - Employers and Employees Impacted by COVID-19. Why It Matters - Employers and employees alike continue to feel the impact of the COVID-19 pandemic. Despite a variety of tax incentives, employers may...more

Troutman Pepper

PROVIDING COVID-19 FINANCIAL RELIEF: How to Free Up Access to Employer Assets and/or Ease Employee Access to Vested Benefits

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Q. Are there any COVID-related tax incentives that could benefit employers and employees?...more

Fisher Phillips

An Employer’s Guide To Managing PTO Donation Requests In The COVID-19 Age

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As the pandemic continues to scar wide portions of our society, a number of employees have expressed to their employers an interest in donating their own PTO to help co-workers and community members adversely impacted by...more

Downs Rachlin Martin PLLC

Maximizing PPP Loan Forgiveness | Webinar

For businesses that received a loan through the Paycheck Protection Program (PPP), the rules are still being refined, regulations continue to evolve and new guidance continues to be published. Despite the rapidly evolving...more

Brownstein Hyatt Farber Schreck

Opportunities for Small Business in the CARES Act of 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides assistance to small businesses impacted by COVID-19. Congress did not, however, provide a one-size-fits-all solution. Instead, small businesses must...more

Burr & Forman

Key Tax Provisions of the CARES Act

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The COVID-19 or Coronavirus has disrupted demand in many industries and is wreaking havoc on budgets and cash flow projections. On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act or Act),...more

Robins Kaplan LLP

Financial Daily Dose 3.17.2020 | Top Story: The Bear Market Roars, with Markets Falling nearly 13% as Whole Sectors of US Economy...

Robins Kaplan LLP on

As Americans [way-too] slowly come to the realization that COVID-19 is a very real and very present threat, the business world is changing around them at a staggering pace. Stocks nosedived again on Monday, with the three...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Mexico’s Unit of Measure and Update (UMA): New Values to Increase on February 1, 2020

On January 9, 2020, Mexico’s National Institute of Statistics and Geography published in the Official Gazette of the Federation the daily, monthly, and annual values of the Unit of Measure and Update (UMA). These are...more

Downs Rachlin Martin PLLC

Vermont Legislative Update 04-12-2019 - An analysis from DRM's Government & Public Affairs Team

PFAS bill progresses - The House Natural Resources Committee finished deliberation this week on S.49, a bill that grants the Agency of Natural Resources more discretion in setting the maximum contaminant level for PFAS...more

McDermott Will & Emery

Changes in Executive Compensation

In a presentation at McDermott’s Employment and Employee Benefits Forum, Andrew Liazos discussed areas of focus for Section 162(m) and third-party loan funding for employee stock purchase plans (ESPPs). He also provided...more

Burr & Forman

The New Section 199a 20% Profit Deduction For Pass-Thru Business Owners: Employee Leasing May Help

Burr & Forman on

Under the 2017 Tax Cuts and Jobs Act, Congress enacted a new Section 199A 20% profit deduction for owners of pass-through businesses, and which include Subchapter S corporations, LLCs, sole proprietorships, and even certain...more

Akin Gump Strauss Hauer & Feld LLP

Swiss Tax Law Changes: New Withholding Tax Rules

• Under Swiss law, Swiss employers must levy an employment withholding tax on the salary received by foreign nationals who do not hold a permanent residence permit. • Only taxpayers whose salary exceeds a certain amount...more

Brooks Pierce

Hurricane Florence Disaster Recovery FAQ

Brooks Pierce on

Our thoughts are with the individuals and businesses affected by Hurricane Florence. The Brooks Pierce team would like to help provide some peace of mind during this time of recovery. We hope the information below will be...more

Verrill

Tax Alert: Understanding the New Pass-Through Business Deduction Rules Under Code Section 199A

Verrill on

Due to the significant changes to the Internal Revenue Code (“Code”) made by the Tax Cuts and Jobs Act (“Tax Act”) at the end of last year, the Department of the Treasury has been very busy issuing guidance and proposed...more

Snell & Wilmer

The 162(m) Transition Rule Guidance Has Arrived

Snell & Wilmer on

On August 21, 2018, the IRS released Notice 2018-68 providing its initial guidance on the Tax Cuts and Jobs Act (Act) transition rule for changes under 162(m). Before the Act, 162(m) limited a public company’s tax deduction...more

Burr & Forman

New IRS Proposed 199A Regulations Provide Guidance on 20% Profit Pass-Through Deduction

Burr & Forman on

On August 8th, the IRS released its much-awaited Proposed Regulations on the new Section 199A 20% profit deduction for pass-through businesses. The new deduction applies to essentially all types of businesses other than C...more

Best Best & Krieger LLP

[WEBINAR] Labor & Employment Law: What Changed in 2017

Best Best & Krieger Labor & Employment attorneys discussed new legislation and case law impacting California employers - private and public. What Was Discussed -Legislation passed in 2017 -Wage and hour update ...more

Skadden, Arps, Slate, Meagher & Flom LLP

Employment Flash - April 2018

This edition of Employment Flash looks at recent court decisions, including the U.S. Supreme Court's rulings on cases relating to the definition of a whistleblower and exemptions from the overtime pay provisions. This edition...more

Fisher Phillips

What Every Employer Needs To Know About The Tax Reform Law

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Late last year, Congress passed the Tax Cuts and Jobs Act (the “Act”) and it was quickly signed by the President. The Act seeks to reform the current tax system and contains numerous provisions that may be significant to...more

Sullivan & Worcester

Employment & Benefits News and Developments

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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

Stinson LLP

Minnesota Legislature Convenes 2018 Session - Legal Wrangling Threatens Progress

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The 2018 Minnesota legislature kicked off at noon yesterday with no solution to the legal standoff in the Minnesota Senate over whether a Republican state senator can legally hold both her Senate seat and be lieutenant...more

Burr & Forman

The New Section 199A 20% “Profit Deduction” for Pass-Through Businesses: The Undecided Issue of Owner Compensation

Burr & Forman on

Under the Tax Cuts and Jobs Act, Congress is now offering a new 20% deduction for “pass-through” businesses – i.e. businesses that are not corporations. With the corporate tax rate being reduced under the new law to a flat...more

Foster Garvey PC

Decoding the Tax Cuts and Jobs Act – Part IV: The IRC § 199A Deduction for Qualified Business Income—the Devil Is in the Details...

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BACKGROUND - The Tax Cuts and Jobs Act (“TCJA”) adopted a new 20% deduction for non-corporate taxpayers. It only applies to “qualified business income.” The deduction, sometimes called the “pass-through deduction,” is...more

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