News & Analysis as of September 24, 2024

Income Taxes › Student Loans

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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 -

Help Paying for College – Federal Tax Credits

Bowditch & Dewey on 2/27/2024

Education income tax credits are one way students and parents can help pay for college. There are two types of federal tax credits available to taxpayers: the American opportunity tax credit (AOTC) and the lifetime learning...more

Activities Contrary to Public Policy – Revoking the Tax Exempt Status of Universities

Rivkin Radler LLP on 11/9/2023

It appears that many of the country’s colleges and universities believe they have not already contributed enough to the decline of American education and to the erosion of our society, generally. These institutions of...more

Weekly IRS Roundup August 21 – September 1, 2023

McDermott Will & Emery on 9/6/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for August 21, 2023 – September 1, 2023....more

Tax Tips for New College Graduates

Bowditch & Dewey on 6/22/2023

As new college graduates cross the stage to receive their diplomas, many will also be heading to their first full-time jobs. There are some tax tips new graduates can implement early on that will help with savings in the long...more

Taxation & Representation, September 13, 2022

Brownstein Hyatt Farber Schreck on 10/24/2022

LEGISLATIVE LOWDOWN - Recess Recap: What happened over the last month in the world of tax? Congress Considers Options to Delay Impending Shutdown. With Congress unable to reach a consensus on appropriations bills for...more

The Latest COVID-19 Stimulus: Highlights of Key Tax Provisions in the American Rescue Plan Act of 2021

Gould + Ratner LLP on 3/19/2021

The American Rescue Plan Act of 2021 (ARPA, 2021) was signed by President Biden on March 11, 2021 to address the continuing economic impact on employers and employees the coronavirus (COVID-19) pandemic has posed. The ARPA...more

Coronavirus: The Hill and the Headlines, March 2021 # 12

Hogan Lovells on 3/17/2021

In Washington: President Biden on Tuesday began what is expected to be a weeks-long sales pitch to tout the new coronavirus relief package. Biden visited Smith Flooring in Chester, Pennsylvania, a small business that received...more

Key Tax Provisions of $1.9 Trillion COVID-19 Aid Package

ArentFox Schiff on 3/12/2021

At $1.9 trillion, the American Rescue Plan Act of 2021, signed into law by President Biden on March 11, 2021, is the largest aid package passed by Congress since the start of the pandemic. With the Rescue Act, Congress hopes...more

More Key Tax Provisions from the Consolidated Appropriations Act

Bowditch & Dewey on 1/21/2021

On December 27, 2020, Congress passed the 5,593 page Consolidated Appropriations Act. The “Act” includes several provisions and extensions of previously expiring provisions relevant to individual taxpayers: MEDICAL EXPENSE...more

Consolidated Appropriations Act, 2021 Changes to Qualified Retirement Plans and Certain Fringe Benefits

Jackson Walker on 1/12/2021

Employee Fringe Benefit Changes - Student Loan Repayment - The Consolidated Appropriations Act, 2021 (the “Act”) extended the period during which an employer may pay a portion of a student’s loan under an educational...more

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

Hinshaw & Culbertson - Employment Law... on 5/6/2020

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

Congress Passes Largest Ever Economic Stimulus Package: Key Provisions Of Cares Act - Update April 2020

A&O Shearman on 4/29/2020

Originally published March 27,2020 – Last updated April 27,2020 The Novel Coronavirus (COVID-19) pandemic has swiftly and significantly unsettled key sectors of the U.S. economy, impacted the viability of many businesses and...more

Business And Individual Income Tax Provisions Of The Cares Act

Goodwin on 4/1/2020

On Friday, March 27, Congress passed, and the President signed, the bipartisan “Coronavirus Aid, Relief, and Economic Security Act” (the “Act”), a $2 trillion economic stimulus plan to provide funding and tax relief to...more

The CARES Act: Tax Relief and Incentives

Jackson Walker on 4/1/2020

Friday, March 27th, the President signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act. The CARES Act contains significant tax relief for individuals and businesses. Below are the tax highlights....more

Congress Passes Largest Ever Economic Stimulus Package: Key Provisions of CARES Act

A&O Shearman on 3/30/2020

The Novel Coronavirus (COVID-19) pandemic has swiftly and significantly unsettled key sectors of the U.S. economy, impacted the viability of many businesses and affected the financial health of millions of Americans. In...more

Connecticut Enacts Business Tax Credit for Student Loan Assistance

Holland & Knight LLP on 7/18/2019

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

What's Happening at the West Virginia Legislature - Issue 3

Spilman Thomas & Battle, PLLC on 1/21/2019

By the end of the 10th day of the 60-day session, the House has introduced 522 bills and the Senate 354. We discuss below a few of those bills and other developments in West Virginia that may interest our readers....more

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

Holland & Knight LLP on 9/21/2018

• 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

Summary of Tax Cuts and Jobs Act

Schwabe, Williamson & Wyatt PC on 12/29/2017

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Junior Goes to College! Innovative Strategies to Save for Your Children's College Education with Pre-Tax Dollars

Gerald Nowotny - Law Office of Gerald R.... on 9/17/2013

Overview - The cost of college tuition has gone through the roof. The average cost of a private university can range from $40,000-60,000 per year. The cost of a public university is a lot less in most cases except that...more

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Income Taxes › Student Loans

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