Effective: January 1, 2024 The IRS has released the 2024 cost-of-living adjustments applicable to the dollar limitations on benefits and contributions of retirement plans and health and welfare benefit plans. We recommend...more
On November 1, 2023 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits. Almost all of the limits shown below have increased from last year....more
With less than a week and a half remaining to avert a government shutdown, Congress appears no closer to finding a solution. This means that a shutdown could occur as early as October 1, 2023. Alcohol industry members should...more
On October 21, 2022, the Internal Revenue Service (IRS) released Notice 2022-55, which sets forth the 2023 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans....more
On November 4, 2021, the Internal Revenue Service (IRS) released Notice 2021-61, which sets forth the 2022 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The...more
The Internal Revenue Service recently announced its cost-of-living adjustments applicable to dollar limitations on benefits and contributions for retirement plans generally effective for Tax Year 2022 (see IRS Notice...more
The newly unreported (does not set precedent) decision of Covone v. Curreri makes two bold moves: (1) asserting that the passage of time is not a change in circumstance warranting a modification to child support and (2)...more
The ongoing COVID-19 pandemic has presented public retirement systems with significant financial challenges that may cause some employers to attempt to disaffiliate or withdraw, leading to disputes about their ability to...more
The ongoing COVID-19 pandemic has presented public retirement systems with a serious financial challenge. In response ? beyond reducing current retirees’ COLA, which we covered in Part I — plan settlors may seek to reduce...more
Public retirement systems in the United States are among the entities that may be particularly affected by the COVID-19 pandemic and the resulting economic downturn that has upended so many businesses and governments...more
I. Factual Background - During the 34-day government shutdown occurring between December 2018 and January 2019, producers and importers of beer, wine and distilled spirits needing label approval to bring new products to...more
The cannabidiol ("CBD") industry is exploding today. Hemp and hemp-derived CBD were classified as Schedule I controlled substances under the Controlled Substances Act of 1972 ("CSA") until the passage of the Agriculture...more
The no-end-in-sight government shutdown has thrown a wrench into the operations of brewers across the country. One brewer, DC-based Atlas Brew Works, is trying to do something about it. On January 15, Atlas filed a lawsuit...more
Planning to brew something that needs a formula approval or a COLA approval? Have a new facility in the works? If so, you might want to reconfigure your schedule because the government shutdown has caused the TTB to suspend...more
On November 1, 2018, the Internal Revenue Service (IRS) announced the cost-of-living adjustments affecting tax-qualified pension plans for 2019. Most of the general pension limitations, including the limit on annual...more
On November 1, 2018 the Internal Revenue Service announced the cost-of-living adjustments for the various qualified retirement plan limits. The vast majority of the limits shown below have increased from last year....more
Certificate of Label Approval (or COLA) can be one of the more frustrating processes for brewers. Each label must be approved by the Alcohol and Tobacco Tax and Trade Bureau (TTB). Once the COLA is issued, only certain,...more
TTB Industry Circular 2018-2, dated March 26, 2018, expanded the list of allowable revisions for approved Certificate of Label Approval (COLA) applications. The three new allowable revisions are to... ...more
In Revenue Procedure 2018-18, the Internal Revenue Service announced a reduction in the HSA contribution limit for family coverage in 2018 to $6,850 from $6,900. The self-only HSA contribution limit for 2018 remains unchanged...more
We previously addressed the Tax Cuts and Jobs Act (“TCJA”) impact on Health Savings Account contribution limits for 2018. The TCJA changes to inflation adjustments also reduced the amount an employer can provide as adoption...more
GOVERNMENT CONTRACTS - Pentagon Warns CEOs: Protect Your Data or Lose Our Contracts - According to an article from Govexec.com, the Pentagon has issued a warning to defense-industry contractors, insinuating that they...more
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2018. Many...more
As 2017 comes to an end, we are happy to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered year-end...more
The IRS recently announced cost-of-living adjustments for 2018 in Notice 2017-64 and related guidance. The key dollar limits for qualified retirement plans and health and welfare plans are noted below....more
Recently, the Alcohol and Tobacco Tax and Trade Bureau (TTB) issued an update to its existing public guidance on personalized labels. The current update clarifies the process for obtaining an approved COLA for personalized...more