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Tax Labor & Employment

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

Compensation Season 2018: Section 162(m) and Related Considerations Post-Tax Reform

by White & Case LLP on

On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") was signed into law. The Act includes significant changes to the executive compensation deduction rules contained in §162(m) of the Internal Revenue Code (the...more

Harvey Weinstein, Tax Reform, And Nondisclosures - Oh My!

by Roetzel & Andress on

There is no doubt that the movement known as #MeToo has brought workplace sexual harassment to the forefront of conversation and is both a top priority and concern for all employers. One of the many names associated with this...more

Employers Beware: Tax Law Change Eliminates Tax Deductions Relating to Certain Settlements

by Dorsey & Whitney LLP on

The #MeToo movement has had far-reaching implications and appears to have influenced the new federal tax law. The legislation contains a provision that has received little attention but that may have serious, unintended...more

Revised VCP Fees – Simple Isn’t Always Better

by Bryan Cave on

The Internal Revenue Service (“IRS”) has described its recent changes to its Voluntary Correction Program (“VCP”) user fees as “simplification.” This simplification is achieved by significantly changing the way user fees are...more

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

New and Proposed Tax Legislation Present New Difficulties for Employers Attempting to Settle Sexual Harassment Claims

by Ervin Cohen & Jessup LLP on

Most employers have heard of the Tax Cuts and Jobs Act, signed into law on December 22, 2017, and have contemplated what it may mean for them. What has been largely overlooked, however, is a denial of deduction buried deep in...more

Helping Non-Profits Navigate Tax and Labor Issues

by Proskauer For Good on

Amanda Nussbaum, a partner in the Tax Department and a member of the Not-for-Profit Group at Proskauer, chairs a comprehensive seminar each fall for non-profits to discuss current developments and topics of interest related...more

Tax Cuts and Jobs Act: Impact on Tax-Exempt Organizations

On December 22, 2017, President Donald Trump signed into law the Tax Cuts and Jobs Act (the Act), which imposes a new excise tax on certain tax-exempt organizations for compensation paid to their covered employees in excess...more

A Game Plan for Employers Facing Possible ACA Penalties

by Carlton Fields on

All employers are at risk of receiving a notice from the IRS that they are liable for a penalty under the Affordable Care Act for failing to offer enough employees insurance coverage, or for failing to offer particular...more

New Tax Act Bars Deductions for Settlements Related to Certain Sexual Harassment Claims

The recently enacted Tax Cuts and Jobs Act (the Act) has been touted as the largest tax reform since 1986. Among its many provisions, the Act adds a new section to the Internal Revenue Code (Section 162(q)) targeting...more

New Paid Family Leave Tax Credit

by Sherman & Howard L.L.C. on

The recently-enacted Tax Cut and Jobs Act (the “Tax Act”) includes a provision that eases the burden for employers who adopt paid family and medical leave policies. The Tax Act added a new federal tax credit available...more

Plan Sponsors and Service Providers Must be Aware of Changes Made to Rules Pertaining to Puerto Rico Qualified Retirement Plans

by Littler on

Recent changes to Puerto Rico’s tax treatment of certain retirement plans have taken effect. Act No. 106 of August 23, 2017 (“Act 106”) amended Section 1081.01 of the Puerto Rico Internal Revenue Code as amended, (the “PR...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

Fringe Benefits: What Tax Reform Means to the Employer

by McDermott Will & Emery on

The new tax reform legislation includes important changes to the tax treatment of employer-sponsored benefit programs, including transportation benefit programs and moving expense reimbursements. The law also creates a new...more

New Tax Bill Includes Novel “Harvey Weinstein” Provision to Prevent Sexual Harassment

by Reed Smith on

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act, with the goal of completely revamping the tax code. In addition to changing many basic facets of tax law, the bill also includes a provision in...more

#MeToo Impacts Harassment Damages/Taxes

by Sherman & Howard L.L.C. on

The recently-enacted Tax Cut and Jobs Act (the “Tax Act”) includes an unheralded change to the tax law that will directly affect sexual harassment settlements. As a direct result of the recent highly-publicized cases...more

FMLA Tax Credit Available For Some Employers Who Offer Paid Leave

by Snell & Wilmer on

Although the federal Family & Medical Leave Act (FMLA) does not require employers to provide paid leave, the Tax Cuts and Jobs Act, signed late last year by President Trump, provides a tax credit incentive beginning this year...more

2018 Limits Announced for Benefits and Other Tax Provisions

Members of Saul Ewing Arnstein & Lehr’s Tax and Employee Benefits and Executive Compensation Practices have outlined the recently announced 2018 dollar limits on the Social Security Wage Base, compensation and deferrals for...more

Employment Law - January 2018

New Tax Bill Deletes Deduction for Sexual Harassment Settlements - Why it matters - Employers, take note: The new Tax Cuts and Jobs Act contains a provision that prohibits deductions for settlements or payments related...more

UPCOMING DEADLINES: (1) Form W-2 Reporting Of Employer-Provided Health Coverage; And (2) Medicare Part D Notices To CMS

by Fraser Trebilcock on

Unless subject to an exemption, employers must report the aggregate cost of employer-sponsored health coverage provided in 2017 on their employees’ Form W-2 (Code DD in Box 12) issued in January 2018. Please see IRS Notice...more

Beltway Buzz - January, 2018 #2

Some welcome hot air has finally come to D.C., and it’s not just coming from the mouths of politicians and regulators. Seriously. It’s 60 degrees today in D.C.! This time last week, it was 20 degrees. That’s quite a flip-flop...more

Tax Act: New Opportunity to Defer Income from Certain Private Company Equity Grants

by WilmerHale on

The new Section 83(i) of the tax code, enacted as part of the Tax Act, allows certain private company employees to elect to defer, solely for income tax purposes and for a period of up to five years, the income attributable...more

New Tax Law Prohibits Deduction for Sexual Harassment Settlements With Confidentiality Clauses

The new tax reform law contains a provision intended to address continuing concerns over sexual harassment in the workplace. Now employers that settle sexual harassment or sexual abuse claims with employees cannot deduct...more

Tax Act: Taxation of Fringe Benefits After Tax Reform

by WilmerHale on

The Tax Act makes changes to the tax treatment of fringe benefits that impact both employers and employees. Employers are now denied certain deductions to which they were previously entitled, including expenses for parking...more

Tax Act: Deductibility of Executive Compensation After Tax Reform

by WilmerHale on

Section 162(m) of the Code generally disallows the deduction of compensation in excess of $1 million paid by a public company to a “covered employee” in any single taxable year. The Tax Act makes the following changes to...more

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