In response to taxpayer and state government requests, including a 2024 letter from governors of nine states imploring the Internal Revenue Service (IRS) to clarify the federal tax treatment of premiums and benefits under...more
1/30/2025
/ Employee Benefits ,
Employee Contributions ,
Employment Tax ,
Excise Tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Paid Family Leave Insurance Program ,
Paid Leave ,
Self-Insurance ,
State Labor Laws ,
Tax Liability ,
Tax Planning ,
Taxable Income
The American Rescue Plan Act of 2021 expands upon some popular tax credit provisions and makes other changes to a key tax provision regarding compensation deduction limitations. These changes are summarized below...more
3/15/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Employee Retention ,
Families First Coronavirus Response Act (FFCRA) ,
Internal Revenue Code (IRC) ,
Non-Discrimination Rules ,
Paid Leave ,
Qualified Health Plans ,
Relief Measures ,
Tax Credits ,
Wage and Hour
Section 162(m) of the Internal Revenue Code (“Code”), which disallows the deduction by any publicly held corporation with respect to certain compensation paid to a covered employee over $1,000,000, was amended by the 2017 Tax...more
On December 2, 2017, the U.S. Senate passed its version of the Tax Cuts and Jobs Act (the “Senate Bill”). Our Benefits Law Advisors blog previously discussed some of the major provisions of a draft House of Representatives...more
On November 2, 2017, the U.S. House of Representatives unveiled the Tax Cuts and Jobs Act (H.R. 1) (the “Bill”) as part of proposed tax reform legislation. The Bill is sweeping in scope and provides for significant changes to...more
The Internal Revenue Service recently issued proposed regulations under Section 409A of the Internal Revenue Code (“Section 409A”) in an effort to clarify and modify parts of the current final regulations (issued in 2007) and...more