New York State recently established the Employer Compensation Expense Program allowing employers to elect to pay an Employer Compensation Expense Tax on payroll expenses paid to covered employees, which in turn allows the...more
The Internal Revenue Service (IRS) has issued Notice 2018-68 (Notice) providing guidance on changes in Code Section 162(m) made by the Tax Cuts and Jobs Act of 2017 (TCJA), Public Law 115-17. The Notice has some good news and...more
Businesses and nonprofits operating in Pennsylvania that hire independent contractors or corporate directors who live outside of Pennsylvania, or that pay rent on Pennsylvania property to landlords living outside of...more
Due to the varying methods of state conformity to the Internal Revenue Code, both the prior and current versions of Section 162(m) continue to be a consideration for state taxes....more
The adoption of Internal Revenue Code Section 83(i) under recent US tax reform will allow certain private company employees to defer federal income tax on eligible stock options and restricted stock units for up to five years...more
Several employer deductions will be reduced or eliminated, including the cost of business-related entertainment expenses and qualified transportation fringe benefits, but employers may be able to claim a credit for a...more
Settlements with the government and those related to sexual harassment claims, as well as certain attorney’s fees, will be impacted by newly disallowed deductions....more
New tax provisions have significant impact on structuring mergers and acquisitions.
In light of the recent passage of HR 1 (the Act) and ensuing sweeping changes to tax law in the United States, certain tax-related aspects...more
Fines pertaining to violations of federal securities laws and certain FINRA rules may not be deducted.
The Internal Revenue Service (IRS) in low-level advice recently announced its position that certain fines paid to...more
Little-noticed changes in the 2015 PATH Act accelerated form filing deadlines and waived retroactive corrections for small-dollar errors, effective 2017.
The Protecting Americans from Tax Hikes (PATH) Act of 2015 was...more
Congress and the IRS have expanded the availability and procedures for maximizing the income tax and FICA tax exclusion for mass transit benefits, but immediate action is required to satisfy the IRS special relief provisions...more
The 2015 Cromnibus and the Tax Increase Prevention Act of 2014 solve some problems and raise others.
On December 16, 2014, U.S. President Barack Obama signed the Consolidated and Further Continuing Appropriations Act...more
1/9/2015
/ Affordable Care Act ,
Appropriations Bill ,
Employee Retirement Income Security Act (ERISA) ,
Expatriates ,
Health Insurance ,
Individual Retirement Account (IRA) ,
Multiemployer Plan ,
PBGC ,
Qualified Retirement Plans ,
Tax Credits ,
Tax Extenders
The decision in Quality Stores not only kills FICA tax refunds for millions of unemployed workers, but it also requires proactive employer actions to maximize future employer and state unemployment benefit payments to...more
Notice 2013-61 provides alternative administrative procedures for reporting income and FICA tax adjustments in response to the Windsor decision and Revenue Ruling 2013-17.
On September 24, the U.S. Department of the...more
Plan sponsors will need to take prospective and, possibly, retroactive action in order to ensure compliance with the guidance.
On August 29, the U.S. Department of the Treasury and the Internal Revenue Service (IRS)...more
High Court considers the constitutionality of DOMA, which may create tax-refund opportunities for employers and employees before April 15....more
Court of Federal Claims agrees with the IRS position that section 409A applies to discounted stock options; holding is important for compensatory stock option grants.
On February 27, the U.S. Court of Federal Claims...more