News & Analysis as of

Tax Cuts and Jobs Act

Tax Reform's New Incentives for Investments in Low-Income Communities: Part 3 - Key Benefits for Investing Taxpayers and a Review...

by Holland & Knight LLP on

• Part 1 and Part 2 of this series of Holland & Knight alerts described a new tax incentive contained in the Tax Cuts and Jobs Act for investments in low-income communities designated as "Opportunity Zones." • In Part 3,...more

Impact of the Tax Cuts and Jobs Act on the Real Estate Industry

by Shearman & Sterling LLP on

On December 22, 2017, H.R.1, commonly referred to as the Tax Cuts and Jobs Act (“Tax Act”) was signed into law. The Tax Act made the most significant changes to the U.S. tax code since 1986, and will have an effect on...more

A Paid Family Leave Tax Credit Calculator: Paid Leave Can Contribute To An Employer’s Bottom Line

by Jackson Lewis P.C. on

Rarely do human resources professionals and employment lawyers contribute to an employer’s bottom line. But the new federal tax credit for employer-provided paid family and medical leave offers a unique opportunity to do just...more

Tax Reform's Impact on 401(k) Plan Loan Offset Treatment - Actions for Plan Administrators and Human Resources Benefits Managers

by Holland & Knight LLP on

• The recent Tax Cuts and Jobs Act of 2017 (the Act), enacted on Dec. 22, 2017, contains a few rules that will impact benefit administrators. • This client alert focuses on changes made to the tax treatment of plan loan...more

Employment & Benefits News and Developments

by Sullivan & Worcester on

NEW TAX LAW MAKES CHANGES TO COMMUTING BENEFITS - ...The Tax Cuts and Jobs Act of 2017 (“TCJA”) generally eliminates employer deductions for commuter transportation and parking fringe benefits. This includes deductions...more

Agricultural Producers to Market Through Cooperatives

by Hodgson Russ LLP on

The Tax Cuts and Jobs Act, signed into law on December 22, 2017, should provide powerful new tax benefits for many agricultural businesses in 2018. Farm operations organized as C corporations, whose 2017 earnings were taxed...more

Tax Legislation Enacted – Impact on REITs

by Bryan Cave on

Recent tax legislation, informally known as the Tax Cuts and Jobs Act (the “Act”), will have a widespread impact on individuals and corporations, including real estate investment trusts (“REITs”) and their shareholders. In...more

Let's All Wait Until After 2023 to Die in Connecticut

by Murtha Cullina on

Until the passage of the 2017 Tax Cuts and Jobs Act, the federal applicable exclusion amount for the estate of a person dying in 2018 was scheduled to be $5.6M. The federal applicable exclusion amount sets (i) the applicable...more

AAML Opposition to Repeal of the Alimony Tax Deduction

We blogged recently about the 2017 Tax Cuts and Jobs Act which, in part, eliminates the tax consequences of alimony. To briefly recap, alimony is tax-deductible to the payor and taxable as income to the recipient under the...more

Qualified Opportunity Zones: New Chance to Reward Private Investments

by Murtha Cullina on

With the passage of H.R. 1, the federal “Tax Cuts and Jobs Act,” Congress last December approved a new program of tax incentives to spur private investment in designated low-income community census tracts which will be known...more

Insights Into Tax Reform’s Radical New Game Plan for Tax Exempt

by Winstead PC on

The new tax law brought an unpleasant surprise for many tax-exempt organizations by imposing a 21 percent excise tax on compensation in excess of $1 million and on certain ‘‘parachute payments.’’ Organizations, including...more

Affordable Rental Housing Environment – Tax Reform and Other Factors

Public Law No. 115-97 (once known as the Tax Cuts and Jobs Act) (the Act) became law on December 22, 2017. While nearly two months have passed, there are still many unknowns. This brief outline covers some of the questions...more

Minnesota Legislature Convenes 2018 Session - Legal Wrangling Threatens Progress

by Stinson Leonard Street on

The 2018 Minnesota legislature kicked off at noon yesterday with no solution to the legal standoff in the Minnesota Senate over whether a Republican state senator can legally hold both her Senate seat and be lieutenant...more

Times Up For Tax Breaks On Secret Settlements

by Davis Brown Law Firm on

#TimesUp and #metoo has dominated the news cycle for months. With the public spotlight on the Harvey Weinstein, Matt Lauer, and Larry Nassar scandals, some people fear confidential settlement agreements may perpetuate sexual...more

No tax deduction for sexual harassment payments subject to NDAs

by Bricker & Eckler LLP on

Parts of the Tax Cuts and Jobs Act that took effect January 1, 2018, have amended Section 162 of the Internal Revenue Code to eliminate tax deductions for settlements, payouts and attorney’s fees “related to sexual harassment...more

Governor Cuomo’s Amended Budget Bill Would Address the Deemed Repatriation Dividend Provisions

by McDermott Will & Emery on

New York is the latest state to address certain state tax implications of the 2017 federal tax reform bill, the Tax Cuts and Jobs Act. Governor Andrew Cuomo’s 30-day amendments to the Governor’s Budget Bill were released on...more

Gaming & Hospitality Legal News: Volume 11, Number 2 - The More Things Change, The More They … Change: Recent Developments In...

by Dickinson Wright on

Executive Summary and Takeaway: Trade secrets and confidential information are receiving increasing protection in many states, and as more states perceive this as a "business friendly" issue, this trend will continue and...more

ALERT: The Tax Cuts and Jobs Acts Provisions Apply to Colleges and Universities

by Pullman & Comley, LLC on

Although much of the reporting on the Tax Cut and Jobs Act recently enacted by Congress has focused on the deductions for individuals and businesses, the bill also includes several provisions that apply specifically to...more

Tax Reform: Impact on Businesses and Individuals

The 2017 Tax Act - Signed into law on December 22, 2017 - Provisions apply NOW – to taxable years beginning after December 31, 2017 - Corporate and International Changes are “permanent;” almost all individual changes...more

2017 New Tax Law: Pass Through Provisions

by Blank Rome LLP on

On December 20, 2017, Congress passed its comprehensive tax reform bill, the Tax Cuts and Jobs Act (“the Act” or “the Bill”), which was signed into law by President Trump on December 22, 2017. The Bill represents one of the...more

What Do You Think About…Deemed Repatriation?

by K&L Gates LLP on

The tax reform bill signed into law by President Trump on December 22, 2017, taxes U.S. shareholders on their share of the previously untaxed deferred income of foreign corporations. Known as “deemed repatriation,” this tax...more

Mixed Messages on PABs: Fit for the Chopping Block or Cornerstone of Infrastructure Finance?

by Bracewell LLP on

Only a few months ago, the public finance industry was shaken when the U.S. House of Representatives proposed to eliminate tax-exempt private activity bonds (“PABs”), despite previous assurances that tax reform would not...more

IRS Issues Guidance Related to the Filing Obligations Resulting from the New CFC Downward Attribution Rules

by Benesch on

As discussed in our previous Client Bulletin U.S. Tax Reform: Key Considerations for Non-U.S. Families with Connections to the United States, the Tax Cuts and Jobs Act (the “Act”) changed the stock attribution rules that are...more

Impact of US Tax Reform on Insurance Companies

On December 22, 2017, President Donald Trump signed into law a budget reconciliation act commonly referred to as the Tax Cuts and Jobs Act (TCJA). This sweeping tax bill represents the most comprehensive reform of U.S. tax...more

Hardship Distribution Changes – Tax Reform May Have Unintended Consequences

by Snell & Wilmer on

When tax reform proposals were floating around in the fall of 2017, several early proposals to the Tax Cuts and Jobs Act (the “Act”) included changes to the hardship distribution rules for qualified retirement plans. However,...more

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