News & Analysis as of

Tax Updates

Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.

A Paid Family Leave Tax Credit Calculator: Paid Leave Can Contribute To An Employer’s Bottom Line

by Jackson Lewis P.C. on

Rarely do human resources professionals and employment lawyers contribute to an employer’s bottom line. But the new federal tax credit for employer-provided paid family and medical leave offers a unique opportunity to do just...more

Tax Reform's Impact on 401(k) Plan Loan Offset Treatment - Actions for Plan Administrators and Human Resources Benefits Managers

by Holland & Knight LLP on

• The recent Tax Cuts and Jobs Act of 2017 (the Act), enacted on Dec. 22, 2017, contains a few rules that will impact benefit administrators. • This client alert focuses on changes made to the tax treatment of plan loan...more

Employment & Benefits News and Developments

by 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

EU: “Hard” Brexit Would Come with Border Friction and Costs

The European Union has published a technical note warning of dire consequences for businesses if the UK leaves the EU with no deal in place. The European Commission has warned companies across Europe to prepare for...more

Congress Kicks the Can Down the Road Again – Cadillac Tax On High Cost Employer Health Coverage Delayed to 2022

by Snell & Wilmer on

Section 4980I, which was added to the Internal Revenue Code by the Affordable Care Act, was originally supposed to take effect in 2018. This tax is commonly called the “Cadillac tax” because it imposes a 40% excise tax on...more

Massive Budget Deal Includes Important Changes To Hardship Withdrawal Rules

by Seyfarth Shaw LLP on

On Friday, February 9, 2018, the Bipartisan Budget Act of 2018 (the “Act”) was signed into law by President Trump, ending a brief government shutdown that began at 12:01 a.m. on Thursday, February 8, 2018. In addition to...more

Recent Legislation Impacts Qualified Retirement Plans

by Sherman & Howard L.L.C. on

On February 9, 2018, Congress passed and the President signed – the Bipartisan Budget Act of 2018, H.R.1892 (“BBA”). In addition to funding the federal government through March 23, 2018, the BBA contains a number of tax...more

Virtual Currency Tax Consequences

by Carlton Fields on

A growing number of startups are offering virtual currencies to investors through initial coin offerings (ICOs) as a way to raise capital, often with little or no awareness of the tax consequences of their actions....more

Ballot Initiative Seeks to Eliminate Prop 13 for Commercial and Industrial Real Estate

Initiative 17-0055 would limit Proposition 13 protection to residential property. New initiative seeks to eliminate Proposition 13 protection for commercial and industrial property by requiring fair market value...more

Agricultural Producers to Market Through Cooperatives

by Hodgson Russ LLP on

The Tax Cuts and Jobs Act, signed into law on December 22, 2017, should provide powerful new tax benefits for many agricultural businesses in 2018. Farm operations organized as C corporations, whose 2017 earnings were taxed...more

Tax Legislation Enacted – Impact on REITs

by Bryan Cave on

Recent tax legislation, informally known as the Tax Cuts and Jobs Act (the “Act”), will have a widespread impact on individuals and corporations, including real estate investment trusts (“REITs”) and their shareholders. In...more

The Use of Expert Testimony in Tax Court, Part II

by Moskowitz LLP on

In Part I, we introduced the Feinberg vs. Commissioner of Internal Revenue case, which demonstrates the financial challenges faced by marijuana businesses due to their inability to deduct ordinary and necessary business...more

Let's All Wait Until After 2023 to Die in Connecticut

by Murtha Cullina on

Until the passage of the 2017 Tax Cuts and Jobs Act, the federal applicable exclusion amount for the estate of a person dying in 2018 was scheduled to be $5.6M. The federal applicable exclusion amount sets (i) the applicable...more

AAML Opposition to Repeal of the Alimony Tax Deduction

We blogged recently about the 2017 Tax Cuts and Jobs Act which, in part, eliminates the tax consequences of alimony. To briefly recap, alimony is tax-deductible to the payor and taxable as income to the recipient under the...more

Qualified Opportunity Zones: New Chance to Reward Private Investments

by Murtha Cullina on

With the passage of H.R. 1, the federal “Tax Cuts and Jobs Act,” Congress last December approved a new program of tax incentives to spur private investment in designated low-income community census tracts which will be known...more

Insights Into Tax Reform’s Radical New Game Plan for Tax Exempt

by Winstead PC on

The new tax law brought an unpleasant surprise for many tax-exempt organizations by imposing a 21 percent excise tax on compensation in excess of $1 million and on certain ‘‘parachute payments.’’ Organizations, including...more

Affordable Rental Housing Environment – Tax Reform and Other Factors

Public Law No. 115-97 (once known as the Tax Cuts and Jobs Act) (the Act) became law on December 22, 2017. While nearly two months have passed, there are still many unknowns. This brief outline covers some of the questions...more

Medical Device Industry Gets Yet Another MDET Reprieve

by Arnall Golden Gregory LLP on

When the short-lived government shutdown ended on January 22, so did this year’s implementation of the 2.3% medical device excise tax (MDET). The tax was to be effective on January 1, 2018 and the first payment to the...more

Minnesota Legislature Convenes 2018 Session - Legal Wrangling Threatens Progress

by Stinson Leonard Street on

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

New Jersey Alcoholic Beverage Bills to Watch 2018 – Part 1: Craft Distillers

As the new legislative session started in New Jersey, a number of bills concerning alcoholic beverages were introduced (or re-introduced). In this multi-part series, we highlight some of the bills to keep an eye on to see if...more

Maryland leading the charge with energy storage tax credits

by Womble Bond Dickinson on

On January 1, 2018, the Maryland Energy Administration (MEA) kicked off a program designed to encourage installation of energy storage systems in the state of Maryland. This program comes on the heels of supporting...more

Employers Take Note: Tax Season Phishing Scams on the Rise

by Fisher Phillips on

It is tax season once again, and with it comes an increased threat of phishing scams targeting human resources and payroll personnel. In 2016, the IRS alerted employers to a then-emerging email phishing scheme in which...more

Budget 2018 - Buyers Stamp Duty Changes

by Dentons on

The Minister for Finance, in his Budget Statement 2018, announced changes to the tax rate for buyers stamp duty for acquisitions of residential properties in Singapore. This change came amid a property market which saw an...more

Times Up For Tax Breaks On Secret Settlements

by Davis Brown Law Firm on

#TimesUp and #metoo has dominated the news cycle for months. With the public spotlight on the Harvey Weinstein, Matt Lauer, and Larry Nassar scandals, some people fear confidential settlement agreements may perpetuate sexual...more

No tax deduction for sexual harassment payments subject to NDAs

by Bricker & Eckler LLP on

Parts of the Tax Cuts and Jobs Act that took effect January 1, 2018, have amended Section 162 of the Internal Revenue Code to eliminate tax deductions for settlements, payouts and attorney’s fees “related to sexual harassment...more

21,093 Results
|
View per page
Page: of 844
Cybersecurity

Follow Tax Updates on:

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.