News & Analysis as of

Income Taxes › Employer Contributions

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... more +
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 -
Seyfarth Shaw LLP

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

Seyfarth Shaw LLP on

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

McDermott Will & Emery

Just Catching Up? Payroll Challenges Plague Roth Catch-Up Contribution Implementation

McDermott Will & Emery on

In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond. The SECURE 2.0 Act requires participants who earned more than $145,000 in FICA...more

Walkers

Guernsey’s new secondary pensions law - key points and FAQs

Walkers on

Guernsey’s new secondary pension law will be coming into force on 1 July 2024. It will be implemented on a phased basis over a 15 month period, beginning with the largest employers (those with 26 or more employees). The...more

Gerald Nowotny - Law Office of Gerald R....

ROCK OF AGES video

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Rock of Ages - The Arithmathean Pension Plan is a creative idea on how to use a pooled income fund as a version of non-qualified deferred compensation. Provide a lifetime annuity of tax-free distributions for key employees!...more

Troutman Pepper

How to Free Up Access to Employer Assets and/or Ease Employee Access to Vested Benefits During COVID-19

Troutman Pepper on

Who Needs to Know - Employers and Employees Impacted by COVID-19. Why It Matters - Employers and employees alike continue to feel the impact of the COVID-19 pandemic. Despite a variety of tax incentives, employers may...more

Troutman Pepper

PROVIDING COVID-19 FINANCIAL RELIEF: How to Free Up Access to Employer Assets and/or Ease Employee Access to Vested Benefits

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Q. Are there any COVID-related tax incentives that could benefit employers and employees?...more

Hinshaw & Culbertson - Employment Law...

CARES Act Program Expands Scope of Educational Assistance Plans to Include Employer Repayments of Student Loans

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A new rule under the CARES Act could be beneficial for employees with outstanding student loan debt, and even provide some cost savings for employers as well. The CARES Act expanded the scope of Educational Assistance...more

Conn Kavanaugh

IRS Provides COVID-19 Related Filing and Payment Relief

Conn Kavanaugh on

March 24, 2020 As COVID-19 has been disrupting our personal and professional lives, the April 15 tax deadline continued to loom on the horizon. In welcome news for many, on Friday, Treasury Secretary Steven Mnuchin announced,...more

McDermott Will & Emery

UK Tax Changes Shift Worker Classification Burden to Clients

McDermott Will & Emery on

The UK Government has con?rmed that it will extend to the private sector tax rules designed to target tax avoidance by contractors who operate through an intermediary personal service company (PSC). The UK Government has...more

Holland & Knight LLP

Se amplía la fecha máxima de facturación electrónica para los contribuyentes del régimen SIMPLE

Holland & Knight LLP on

Con motivo de las modificaciones realizadas por la Ley de Financiamiento – Ley 1943 de 2018 – Colombia actualmente se encuentra en proceso de implementar el sistema de facturación electrónica con validación previa a su...more

Dorsey & Whitney LLP

Major Changes to IR35

Dorsey & Whitney LLP on

In April 2020, major changes will be made to the off-payroll working rules (commonly known as “IR35”). All businesses that engage individuals (usually referred to as “contractors”) through personal service companies should...more

Holland & Knight LLP

Connecticut Enacts Business Tax Credit for Student Loan Assistance

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Connecticut recently passed "An Act Establishing a Tax Credit for Employers That Make Payments on Certain Loans Issued to Employees by the Connecticut Higher Education Supplemental Loan Authority" (Act). The Act, signed on...more

Holland & Knight LLP

IRS May Allow Employer Contributions to 401(k) Plans for Employees Repaying Student Loans

Holland & Knight LLP on

• With growing student loan debt pushing employees to delay contributing to their employers' 401(k) plans, many employers have been looking for ways to help their employees save for retirement. • A recent Internal Revenue...more

Akin Gump Strauss Hauer & Feld LLP

Tax Cuts and Jobs Act

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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

Locke Lord LLP

A U.S. Employer’s Guide to Basic UK Employment and Immigration Laws

Locke Lord LLP on

UK employment law is constantly developing and it has been challenging for employers to keep up with the changes in recent years. All employers in the UK, no matter how big or small, are required to comply with these laws or...more

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