The Tax Cuts and Jobs Act of 2017 (TCJA) upended public company compensation structures nationwide. Prior to the TCJA, Section 162(m) of the Internal Revenue Code of 1986, as amended, generally provided for a $1 million...more
3/2/2020
/ Acquisitions ,
Compensation & Benefits ,
Corporate Taxes ,
Covered Employees ,
Executive Compensation ,
Mergers ,
Privately Held Corporations ,
Public Hearing ,
Publicly-Traded Companies ,
Section 162(m) ,
Securities Exchange Act ,
Tax Cuts and Jobs Act ,
Tax Deductions
The U.S. Court of Appeals for the First Circuit has held in Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry Pension Fund that two Sun Capital Funds were not under common control with Scott Brass...more
The U.S. government has military bases and outposts around the world, and – as it does within the United States – utilizes contractors to support its mission overseas. Because military personnel and employees of government...more
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
• The U.S. Department of Labor (DOL) has issued an opinion letter on when workers in a gig economy are contractors or employees.
• The analysis turns on the economic reality of the relationship between the service provider...more
5/6/2019
/ Department of Labor (DOL) ,
Economic Realities Test ,
Employer Liability Issues ,
Fair Labor Standards Act (FLSA) ,
Gig Economy ,
Hiring & Firing ,
Independent Contractors ,
Misclassification ,
Opinion Letter ,
Third-Party Service Provider ,
Virtual Marketplace Companies (VMCs) ,
Wage and Hour
• Now that the IRS has issued additional guidance on the practical considerations of the election to defer compensation allowed by Section 83(i) of the Internal Revenue Code of 1986, as amended, it has become clearer that...more
• Administrators of all employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) should ensure their plans' compliance with ERISA's Summary Plan Description (SPD) requirement.
•...more
3/7/2018
/ Benefit Plan Sponsors ,
COBRA ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Employer Liability Issues ,
Health and Welfare Plans ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Penalties ,
Plan Administrators ,
Retirement Plan ,
Summary Plan Description
• 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
2/22/2018
/ 401k ,
Deadlines ,
Early Retirement Distributions ,
Employee Benefits ,
Excise Tax ,
Executive Compensation ,
Human Resources Professionals ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
IRA Rollovers ,
IRS ,
Loans ,
New Rules ,
Offsets ,
Plan Administrators ,
Plan Documents ,
Qualified Retirement Plans ,
Retirement Plan ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Tax Returns ,
Termination ,
Trump Administration
The Internal Revenue Service (IRS) on June 21, 2016, published long-awaited proposed rules on nonqualified deferred compensation plans under Section 409A of the Internal Revenue Code of 1986, as amended (Section 409A). These...more
The latest decision in the series of Sun Capital cases was released on March 28, 2016, by the U.S. District Court for the District of Massachusetts. In Sun Capital Partners III, LP v. New England Teamsters & Trucking Indus....more