On July 4, 2025, President Trump signed into law the so-called “One Big Beautiful Bill Act.” The Act established new above-the-line tax deductions for “qualified tips” and “qualified overtime compensation.” To facilitate...more
The IRS has issued a new fact sheet (FS-2024-22) to address frequently asked questions about educational assistance programs (EAPs), also known as Section 127 plans....more
On December 14, 2022, the U.S. Department of Labor (DOL) and the Internal Revenue Service (IRS) signed and published a Memorandum of Understanding for Employment Tax Referrals (the “MOU”). The MOU establishes a system for...more
12/28/2022
/ Corporate Counsel ,
Department of Labor (DOL) ,
Employer Liability Issues ,
Gig Economy ,
Independent Contractors ,
IRS ,
Memorandum of Understanding ,
Misclassification ,
Tax Liability ,
Tax Penalties ,
Wage and Hour
On August 28, 2020, the U.S. Department of the Treasury issued guidance for employers with respect to the deferral of the employee portion of certain payroll taxes. This guidance stems from a presidential memorandum issued...more
One of the most enticing reasons to obtain a loan under the Paycheck Protection Program (PPP) is the potential for the loan’s forgiveness. The federal Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized the...more
On February 26, 2020, the IRS published proposed regulations implementing changes made by the Tax Cuts and Jobs Act of 2017 (TCJA) regarding the elimination of deductions for entertainment and the limitation on food and...more
2/28/2020
/ Business Expenses ,
Business Taxes ,
Corporate Counsel ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Meals-Gifts-and Entertainment Rules ,
Proposed Regulation ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning
Businesses with operations in California have begun to identify options and implement strategies for compliance with Assembly Bill (AB) 5, which imposes the ABC test for identifying whether a worker is an independent...more
10/30/2019
/ 1099s ,
ABC Test ,
Corporate Counsel ,
Corporate Restructuring ,
Employee Definition ,
Employer Liability Issues ,
Employment Tax ,
Freelance Workers ,
Gig Economy ,
Hiring & Firing ,
Income Taxes ,
Independent Contractors ,
IRS ,
Labor Regulations ,
Misclassification ,
Out-of-State Employees ,
Retroactive Application ,
Safe Harbors ,
State and Local Government ,
State Labor Laws ,
Tax Rates ,
Wage and Hour
On June 15, 2016, the New York State Department of Labor (“NYSDOL”) published a proposed rule governing the permissible methods for an employer in New York to pay wages to employees. The most radical change is that all...more