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

The Bubbler: January 2018

2017 is in the books and 2018 is now upon us. A dramatic close to 2017 on Capitol Hill ushered in sweeping changes to the tax code that will begin to impact both employers and employees in a number of ways – some more...more

US Tax Reform Impacts Roth Individual Retirement Account Conversions

by Morgan Lewis on

HR 1 makes Roth IRA conversion recharacterizations a thing of the past, but is silent on whether recharacterizing 2017 Roth IRA conversions in 2018 will be permitted....more

2017 Legislative Summary (Part Two): The Budget “Implementer” And Its Effect On Connecticut’s Schools And Public Employers.

In 2017, our firm published a summary of new legislation affecting Connecticut’s schools and public sector employers. However, the 2017 “regular session” of the Connecticut General Assembly was not the final word. Due to the...more

IRS Releases New Tables for Employee Income Tax Withholding

by Hinshaw & Culbertson LLP on

On January 11, 2018, the IRS issued its new withholding tables to assist employers with processing payrolls and withholding federal income tax under the new Tax Reform Act signed into law late last year (the “Act”). IRS...more

WEB EXCLUSIVE December 2017: The Top 14 Labor And Employment Law Stories

by Fisher Phillips on

It’s hard to keep up with all the recent changes to labor and employment law. While the law always seems to evolve at a rapid pace, there were an unprecedented number of changes each month in 2017. December was no different,...more

The Year in Review

by Cozen O'Connor on

We’re Still Waiting - A Look Back – and Thanksgiving in New England, 2017 - Loyal readers of this missive may recall that in our last two annual tax updates, “Make America Great Again!” and “Okay, Now What?” we...more

Update: IRS Announces Employee Benefit Plan Limits for 2018

by McDermott Will & Emery on

On Monday, November 27, 2017, the Social Security Administration announced that the it is lowering the maximum amount of earnings subject to the Social Security tax for 2018 to $128,400. The Social Security Administration...more

House Tax Bill Would Fundamentally Change Executive Compensation and Employee Benefit Practices

by Morrison & Foerster LLP on

On November 2, 2017, the House Ways and Means Committee unveiled the Tax Cuts and Jobs Act (the “Bill”), which, if enacted, could dramatically impact certain aspects of executive compensation and employee benefit issues. The...more

The Time is Right to Contact Recordkeepers About Hardship Substantiation

If your 401(k) plan recordkeeper has not talked to your company lately about hardship distributions, it may be time to reach out to the recordkeeper. The short story is that the IRS recently issued an internal memorandum...more

Presidential Actions on Regulatory Rollback: The Order of the Orders

Since his inauguration on January 20, 2017, President Trump has issued a number of presidential orders and memoranda relating to the reduction of regulation. ...more

2017-2018 Legislative Session: Employer Updates

As the 2017-2018 legislative session continues to unfold on Beacon Hill, Massachusetts lawmakers are considering several policy proposals that have significant implications for employers across the Commonwealth. The FY2018...more

MoFo New York Tax Insights - Volume 7, Issue 12

by Morrison & Foerster LLP on

NYC ALJ Holds That Consulting Firm May Source Receipts Based on Location of Independent Contractors - The nature of the services performed by a corporation, and how that corporation should source its receipts from those...more

OSHA Issues Final Rule On Complaints Under Affordable Care Act's Anti-Retaliation Provision

by Holland & Knight LLP on

The Affordable Care Act (ACA) added Section 18C to the Fair Labor Standards Act (FLSA) to prohibit retaliation against employees who engage in certain activities protected by the ACA. Responsibility for receiving and...more

MoFo New York Tax Insights - Volume 6, Issue 12

by Morrison & Foerster LLP on

NYC Tribunal Rejects Claim That First Amendment Requires Use of Audience Factor for Sourcing Receipts from Credit Ratings - The New York City Tax Appeals Tribunal, reversing an Administrative Law Judge decision, has held...more

Treasury Department and IRS Publish Final Hybrid Plan Regulations and Announce Extension of Required Amendment Date for Certain...

by Snell & Wilmer on

The Treasury Department and the IRS recently issued final regulations (the “2015 Final Regulations”) relating to hybrid retirement plans, including cash balance pension plans. The 2015 Final Regulations provide...more

Tax Court: Stock based Compensation Costs Need not be Included in International Cost-Sharing Arrangements

The Stunning Altera Case - Employee stock options are an important part of compensation—both as income to the executives and as a deduction for the employer. But when stock options are used by multinational companies,...more

SEC Interpretive Release on the Terms “Spouse” and “Marriage”

by Seyfarth Shaw LLP on

In another federal action that employers need take note of, last week the U.S. Securities Exchange Commission (SEC) issued its “Commission Guidance Regarding the Definition of the Terms ‘Spouse’ and ‘Marriage’ Following the...more

Executive Labor Summary - June / July 2015

What are the labor implications of Supreme Court’s decision in King v. Burwell? - On June 25, the U.S. Supreme Court upheld the Affordable Care Act (also known as “Obamacare”) in a 6-3 decision written by Chief...more

How Does the King v. Burwell Decision Affect the Affordable Care Act?

by Foley & Lardner LLP on

The Supreme Court handed the Obama administration a key victory this morning, upholding the tax credits that allow many low-income Americans to purchase health care insurance in states where the federal government is running...more

Massachusetts DOR May Lose Staff This Summer

by McDermott Will & Emery on

The Massachusetts Department of Revenue (DOR) likely will have significantly less employees starting July 1, 2015, due to a Massachusetts employee retirement incentive program. Governor Charlie Baker recently signed...more

Expect MDOR Audit Delays After the July 4, 2015 Holiday

Governor Charlie Baker’s recent plan to trim the number of Massachusetts employees was recently signed into law. According to published reports, more than half of all employees at the Massachusetts Department of Revenue are...more

Pensions Alert UK: April 2015 reforms: Final regulations made

by DLA Piper on

The introduction of the DC flexibilities announced in last year’s Budget is now only a matter of days away, and in recent weeks various sets of regulations have been made in final form which will come into force on 6 April...more

Reed Smith LLP Advises Multistate Tax Commission Work Group on Class Action and False Claims Act Model Statutes

by Reed Smith on

Last week, the Multistate Tax Commission (the “MTC”) conducted its 2015 Winter Committee Meetings in Kansas City, Missouri. Among the agenda topics were model provisions concerning the application of consumer class action and...more

Washington Healthcare Update

by McGuireWoods LLP on

This Week: Upcoming Hearing: HHS Sec. Burwell Appearing Before E&C Committee on FY2016 Budget... CMS Issues 2016 Payment and Policy Updates for Medicare Health and Drug Plans... CMS Releases Improved Rating System for Nursing...more

Municipal Legal News - Volume 1 Number 1

by Dickinson Wright on

Major Freedom of Information Act ("FOIA") Amendments - Public Act 563 of 2014 ("Act 563") amends the FOIA to impose a number of new regulations on public bodies. All municipalities will need to review their FOIA...more

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