Popular, Tax Planning, Employee Benefits

Trump Accounts: The New Child Savings Account Established Under the One Big Beautiful Bill Act

Foley & Lardner LLP on 7/10/2025

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBA). The OBBA established a new type of tax-advantaged savings account for minors, known as “Trump Accounts.” While the specific details of...more

IRS Adjusts Health Flexible Spending Account and Other Benefit Limits for 2025

Woodruff Sawyer on 10/24/2024

On October 22, 2024, the Internal Revenue Service (IRS) released Revenue Procedure 2024-40, which increases the health flexible spending account (FSA) salary reduction contribution limit to $3,300 for plan years beginning in...more

Secure Act 2.0 – Summary of Key Provisions

Kilpatrick on 6/28/2022

The House and Senate are moving forward on several versions of legislation, which are collectively known as the “Secure Act 2.0” because they would build off of the Secure Act, the last major retirement plan legislation...more

Policy Outlook: How The 2020 Election Outcomes Will Impact Your Business - Health Policy

McDermott Will & Schulte on 11/9/2020

In this session, health law policy authorities discussed changes likely in 2021 in a Biden Administration and how these changes will impact business objectives and strategies for health industry stakeholders...more

[Webinar] Policy Outlook: How The 2020 Election Outcomes Will Impact Your Business - November 5th, 12:00 pm - 2:15 pm EST

McDermott Will & Schulte on 10/22/2020

Are you prepared for the critical impacts of the US election outcome to you and your business in 2021 and beyond? Join McDermott’s lawyers and our policy and lobbying team for perspective on the effects of administration...more

ROCK OF AGES: The Arithmathean Pension Plan - Using the Pooled Income Fund for Non-Deferred Compensation Planning

Gerald Nowotny - Law Office of Gerald R.... on 10/9/2020

The first article for professional publication that I wrote was an article about using offshore trusts in non qualified deferred compensation planning. I called the article the Rastafarian Rabbi Trust. The article was...more

IRS Provides Additional Clarity on Key SECURE Act Provisions

Seyfarth Shaw LLP on 9/10/2020

On December 20th, before the outbreak of COVID-19 and the resulting pandemic, President Trump signed into law the Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”) and the Bipartisan...more

IRS Adjusts Distribution Guidance: Taxpayers Who Took Required Minimum Distributions in 2020 May Be Able to Return Them To A...

Goulston & Storrs PC on 8/3/2020

The IRS recently released Notice 2020-51, which provides further taxpayer-friendly guidance for the treatment of required minimum distributions paid from retirement accounts in 2020....more

New Planning Opportunities Inspired by IRS Memo on Taxation of Equity Awards

Troutman Pepper Locke on 7/27/2020

Synopsis - The Internal Revenue Service (IRS) released a Generic Legal Advice Memorandum, GLAM 2020-004 (the IRS Memo) dated May 18, 2020 addressing the timing of income and payroll tax withholding on three types of employee...more

Executive Compensation at Tax-Exempt Organizations Back in the Limelight – IRS Issues New Guidance

Seyfarth Shaw LLP on 6/12/2020

Seyfarth Synopsis: The IRS recently issued proposed regulations providing guidance under Internal Revenue Code (“Code”) Section 4960, which provides for an excise tax on tax-exempt organizations that pay certain executives in...more

IRS Announces Cost of Living Adjustment (COLA) Limits for 2020 Applicable to Retirement Plans

Pullman & Comley, LLC on 12/19/2019

The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2020. Many...more

A Little Extra: IRS Ups ACA Reporting Relief

Ballard Spahr LLP on 12/5/2019

Once again, the IRS has extended the deadline for furnishing Forms 1095-B and 1095-C to individuals. Reporting penalties will not apply to those who meet the applicable deadlines and complete the forms in good faith....more

Annual Limits on Qualified Plans for 2020

Stinson - Benefits Notes Blog on 11/7/2019

On November 6, 2019, the Internal Revenue Service (IRS) released Notice 2019-59, which sets forth the 2020 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The...more

US Treasury and IRS Targets for Audit

Carlton Fields on 10/29/2019

On October 8, 2019, the U.S. Department of Treasury and the IRS released the 2019-2020 “Priority Guidance Plan” for the 12-month period running from July 1, 2019, through June 30, 2020. The plan sets out the agencies’...more

Annual Reporting Requirements for Incentive Stock Options and Employee Stock Purchase Plans (UPDATED)

Orrick, Herrington & Sutcliffe LLP on 1/26/2018

Requirement to Report For (1) any exercise of an incentive stock option (ISO) during 2017 or (2) transfer during 2017 of a share previously purchased pursuant to a tax-qualified employee stock purchase plan (ESPP), the...more

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