The Supreme Court overturned the Chevron doctrine in a 6 to 3 decision, Loper Bright Enterprises v. Raimondo. That doctrine required the courts to defer to an agency’s interpretation of federal law if the statute was...more
The Tax Cuts and Jobs Act of 2017 amended the law to introduce a new, one-time, mandatory repatriation tax on trillions of dollars of accumulations held abroad by American-controlled foreign entities. The tax is imposed on...more
6/25/2024
/ Constitutional Challenges ,
Controlled Foreign Corporations ,
Corporate Taxes ,
Foreign Corporations ,
International Tax Issues ,
Moore v US ,
SCOTUS ,
Shareholder Litigation ,
Sixteenth Amendment ,
Tax Cuts and Jobs Act ,
Tax Liability
Connelly v. United States involved determining the fair market value of a closely-held corporation for purposes of estate taxation. A corporation, owned by two brothers, was obligated to buy back the shares of the first to...more
6/18/2024
/ Business Ownership ,
Business Succession ,
Buy-Sell Agreements ,
Closely Held Businesses ,
Connelly v United States ,
Estate Planning ,
Estate Tax ,
Fair Market Value ,
IRS ,
Life Insurance ,
Redemption Agreement ,
SCOTUS ,
Shareholders ,
Small Business ,
Survivorship
The issue in Connelly v. US is whether, for estate tax purposes, the value of a closely-held corporation using corporate-owned life insurance to redeem the shares of a decedent shareholder increases the value of the company...more
In Helix Energy Solutions Group, Inc. v. Hewitt, a 6-3 decision issued on February 22, 2023, the United States Supreme Court decided what “salary” means for purposes of applying the regulations exempting highly compensated...more
3/6/2023
/ Employer Liability Issues ,
Employment Litigation ,
Exempt-Employees ,
Fair Labor Standards Act (FLSA) ,
Federal Labor Laws ,
Helix Energy Solutions Group Inc v Hewitt No 21-984 ,
Highly Compensated Employees ,
Human Resources Professionals ,
Non-Exempt Employees ,
Over-Time ,
Salaried Employees ,
SCOTUS ,
Wage and Hour ,
White-Collar Exemptions
The U.S. Supreme Court recently heard arguments in Hughes v. Northwestern University, in which the Seventh Circuit Court of Appeals had rejected claims that the fiduciaries of two defined contribution retirement plans at...more
2/17/2022
/ 401k ,
Benefit Plan Sponsors ,
Class Action ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fees ,
Fiduciary Duty ,
Hughes v. Northwestern University ,
Plan Participants ,
Remand ,
Retirement Plan ,
Retirement Plan Providers ,
SCOTUS
Many employers offer 401(k) and other retirement plans for their employees as part of the cost of doing business. Too often, retirement plans are established and operated without much thought given to the numerous legal...more
The following is a short checklist of issues that Massachusetts and other employers need to address as the laws relating to retirement, medical and other employee benefits have changed. The details regarding the application...more