News & Analysis as of September 22, 2024

Income Taxes › Defined Benefit Plans

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Want to Put More Away in Your 401(k)? Qualified Plan Limits Generally Increase in 2024

Seyfarth Shaw LLP on 11/3/2023

Seyfarth Synopsis: The IRS just announced the 2024 annual limits that will apply to tax-qualified retirement plans. For a third year in a row, the IRS increased the annual limits, allowing participants to save even more in...more

Weekly IRS Roundup December 19 – December 23, 2022

McDermott Will & Emery on 12/28/2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 19, 2022 – December 23, 2022...more

KNOCK YOURSELF OUT - RESUSCITATING TAXPAYERS WITH BUYER'S REMORSE!

Gerald Nowotny - Law Office of Gerald R.... on 1/12/2021

Tax Planning for 2020 in 2021, yes you can! Cares Act gives the ability to install a qualified retirement plan. Eliminate 2020 taxation associated with investment income. #taxes #qualifiedretirementplan #financialadvisors...more

KNOCK YOURSELF OUT - RESUSCITATING TAXPAYERS WITH BUYER'S REMORSE!

Gerald Nowotny - Law Office of Gerald R.... on 1/9/2021

Nowotny On Death and Taxes podcast episode 32 Knock Yourself Out - Resuscitating Taxpayer's With Buyer's Remorse; learn how to do tax planning for 2020 in 2021; it's not too late! Eliminate all of your taxation associated...more

Weekly IRS Roundup December 16 – 20, 2019

McDermott Will & Emery on 12/27/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 16 – 20, 2019. December 16, 2019: The IRS released a notice extending the phase-in...more

Weekly IRS Roundup August 19 – 23, 2019

McDermott Will & Emery on 8/27/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of August 19 – 23, 2019. August 20, 2019: The IRS released a proposed regulation that provides...more

(Another) Change To The Annual HSA Limit

Fox Rothschild LLP on 5/10/2018

The 2017 Tax Cut and Jobs Act,signed into law on December 22, 2017, added Internal Revenue Code section 4960, which imposes a 21% excise tax on annual compensation in excess of $1 million paid by an “applicable tax-exempt...more

Tax Cuts and Jobs Act

Akin Gump Strauss Hauer & Feld LLP on 11/10/2017

On November 2, 2017, the Committee on Ways and Means of the U.S. House of Representatives released its tax reform bill titled the Tax Cuts and Jobs Act (the “House Bill”). On November 6, 2017, Kevin Brady, Chairman of the...more

The Republican Tax Plan and the Revenue-Raising Assault on Employee Compensation

A&O Shearman on 11/9/2017

On November 2, 2017, the Republican caucus of the House of Representatives unveiled its plan to overhaul the nation’s tax code. In an apparent effort to raise revenue, the “Tax Cuts and Jobs Act,” if adopted, would...more

Supreme Court Rules DOMA Unconstitutional – Employee Benefit Plan Implications

Troutman Pepper on 6/28/2013

Yesterday, the U.S. Supreme Court, in U.S. v. Windsor, ruled that Section 3 of the Defense of Marriage Act (DOMA) is unconstitutional because it violates the Fifth Amendment’s equal protection guaranty for persons of the same...more

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Income Taxes › Defined Benefit Plans

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