News & Analysis as of

Fringe Benefits

Key Tax Reform Issues for Nonprofit Membership Organizations/Associations

Associations avoided the harshest proposals but should be aware of several important new tax issues. Associations subject to unrelated business income tax can no longer use losses in one unrelated business to offset income...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

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

The Repeal Of The Section 162(M) Performance-Based Exception - The End Of Performance Pay?

The Tax Cuts and Jobs Act (the "Act") expanded the scope of the $1 million dollar deduction limitation under Section 162(m) of the Internal Revenue Code of 1986, as amended ("Section 162(m)") and, subject to a transition...more

Tax Bill Means Changes to Employee Benefits and Executive Compensation

On December 22, 2017, President Trump signed into law a tax bill reconciling both the House and Senate versions of the so-called Tax Cuts and Jobs Act. The Act’s major provisions are lowering the corporate tax rate to 21%...more

Tax Cuts and Jobs Act – Impact on Employee Benefit Plans

by Sherman & Howard L.L.C. on

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (the “Act”) into law. While the Act is extensive, this Advisory discusses only the changes made to employee benefits such as qualified retirement plans,...more

President Trump Signs Tax Reform Bill into Law

On December 15, 2017, the House and Senate conference committee agreed on the terms of the final tax reform bill, previously referred to as the “Tax Cuts and Jobs Act” (the “Act”), which was subsequently approved by both...more

Tax Reform and Employee Benefits – What You Need to Know Now

by Foley & Lardner LLP on

As you have probably heard by now, the recently enacted Tax Cuts and Jobs Act (the Tax Reform Act) made significant changes to the Internal Revenue Code. With regard to executive compensation, the Tax Reform Act made widely...more

Tax Reform: Spotlight on Compensation and Benefits Provisions

by Baker Donelson on

The new tax bill (the "Act") - a culmination of months of back-and-forth between the House and Senate Republicans - was signed into law on December 22, 2017. The Act fulfills many of the promises made by the Trump...more

Much Ado About (Almost) Nothing?

by Foley & Lardner LLP on

Impact of Tax Reform on Employer-Provided Retirement, Welfare, and Fringe Benefits - The recently enacted Tax Cuts and Jobs Acts (the “Tax Reform Act”) made significant changes to the Internal Revenue Code. Although there...more

Initial Tax Disclosures Regarding 162(m) in Proxy Statements

Many know that the Section 162(m) deduction limit for performance-based compensation has been repealed by the recent tax legislation together with implementation of other changes, effective for taxable years beginning after...more

Tax Cuts and Jobs Act of 2017

by Cohen & Grigsby, P.C on

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (the “TCJA”), the most comprehensive tax reform passed in decades. The majority of the changes in the TCJA affect individual and corporate income...more

Five Things Employers Should Know about Tax Reform

With the enactment of the Tax Cuts and Jobs Act comes sweeping changes to executive and equity compensation and employee benefits. Employers should evaluate whether they will be subject to the $1 million tax deductibility...more

New Deferral Opportunity for Stock Awards

The Tax Cuts and Jobs Act includes a new provision that can delay the taxation of compensation paid to employees of “eligible corporations” in the form of “qualified stock” for up to five years. The provision is set forth in...more

The Impact of the Tax Cuts and Jobs Act on Employee and Fringe Benefits

The Tax Cuts and Jobs Act makes some notable, though targeted, changes to the employee benefits landscape. We summarize some of the more significant changes in the Question and Answers set out below....more

Tracking Tax Reform: The Executive Compensation and Employee Benefit Provisions of The Tax Bill

by Locke Lord LLP on

On December 20, 2017, the House of Representatives and the Senate voted to enact the tax reform bill, which has been renamed “To provide for reconciliation pursuant to titles II and V of the concurrent resolution on the...more

New Tax Cuts and Jobs Act Affects Employee Benefit Plans and Executive Compensation Arrangements

by Ballard Spahr LLP on

The Tax Cuts and Jobs Act, signed into law by President Donald J. Trump shortly before Christmas, is the most significant tax reform legislation in more than 30 years. ...more

2018 Tax Reform Series: Tax Law Changes To Employee Fringe Benefits

by Jackson Lewis P.C. on

Below is the second article in our series covering the employee benefits-related changes contained in the Tax Cuts and Jobs Act signed by the President on December 22, 2017. As discussed below, the Act makes several...more

Tax Reform: The Five Big Changes Affecting Employee Benefits

by Dickinson Wright on

On December 22, 2017, President Trump signed H.R. 1 (formerly, the “Tax Cuts and Jobs Act” (the “Act”)) into law. While the Act was primarily focused on business tax cuts and individual tax reform, the Act includes several...more

New Tax Act Disclosures, Explanations and Examples

Disclosures regarding the new tax act, often referred to as the Tax Cuts and Jobs Act or TCJA, continue to be prominent in SEC filings. Set forth blow is an explanation of the often obscure GAAP accounting driving many of the...more

How Tax Reform Will Affect Employee Benefit Plans

by Pepper Hamilton LLP on

On December 22, President Donald Trump signed into law H.R. 1 (the Act), which makes widespread changes to the Internal Revenue Code. The Act makes several changes to the rules governing retirement plans, welfare plans and...more

Tax Reform Advisory:  Exempt Organizations

by Goulston & Storrs PC on

On December 22, 2017, the President signed into law H.R. 1, informally known as the “Tax Cuts and Jobs Act” (the “Act”), implementing sweeping changes to United States tax regimes for exempt organizations, businesses in which...more

New Tax Law Provisions Affect Employee Benefit Programs

The Tax Cuts and Jobs Act (the “Act”) recently enacted by Congress will soon become effective. The primary focus of the new law is the reduction of corporate and individual income taxes. Nevertheless, a number of provisions...more

Impact of 2017 Tax Reform Bill on Executive Compensation and Employee Benefits

by Reed Smith on

The Senate and House approved, and the President of the United States is expected to sign into law, the Tax Cuts and Jobs Act (the “Tax Reform Bill”). Despite the media’s predominant focus on the sweeping reforms to...more

Nonprofit Guide To The “Tax Cuts And Jobs Act”

by Seyfarth Shaw LLP on

The 2017 “Tax Cuts and Jobs Act” impacts tax-exempt organizations in a variety of ways, including by reducing incentives for charitable giving, applying an excise tax on executive compensation in excess of $1 million per...more

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