Employee Benefits Law Report

Tag Archives: tax law

Tax reform will affect public company executive compensation arrangements and related proxy statement disclosures

While opinions on the Tax Cuts and Jobs Act vary, one thing everyone can agree on is that it is a game changer in many areas of law and business. We explain this change and outline what it could mean for public companies in our recent post over at our firm’s Banking & Finance Law Report blog.

Click here to read the full article: Tax reform will affect public company executive compensation arrangements and related proxy statement disclosures.…

IRS previews qualified plan determination letter changes in new guidance

The Internal Revenue Service (IRS) issued guidance on Jan. 4, 2016, that clarifies certain implications of its previously announced changes to the employee plans determination letter program. These clarifications, announced in Notice 2016-03 (Notice) are necessary to cover open issues raised from prior guidance that in effect shuts down the determination letter program for most amendments to individually designed plans.…

Same-Sex Marriages Recognized for Federal Tax Purposes

The United States Department of the Treasury and the Internal Revenue Service (the “Agencies”) yesterday announced that same-sex couples who were legally married in jurisdictions that recognize same-sex marriages (i.e., either in states within the United States, United States territories or in other countries) will be treated as married for federal tax purposes. Recognition will be granted without regard to whether the couple lives in a jurisdiction that recognizes same-sex marriage. This new position was announced in Rev. Rul. 2013-17, as augmented by a series of Frequently Asked Questions dealing with same-sex spouse issues and related domestic partner and civil …

403(b) Plan Termination Roadmap

Section 403(b) plans were historically important for tax-exempt employers, but under current tax laws, maintaining a 403(b) plan may no longer be viable or advisable for an employer. An employer that wants to pull out the 403(b) plan termination roadmap first needs to ask a basic question: can I get the engine started (will the investment vendors cooperate with this process)? If the answers to this question is “yes,” then the employer can follow the roadmap set forth in Revenue Ruling 2011-7.…

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