Tag Archives: Tax
IRS Extends Transition Relief for Puerto Rico Qualified Plans to Participate in U.S. Group Trusts and Deadline to Transfer Assets
Posted in the National Law Review an article by attorney Nancy S. Gerrie and Jeffrey M. Holdvogt of McDermott Will & Emery regarding U.S. employers with qualified employee retirement plans that cover Puerto Rico: On December 21, 2011, the U.S. Internal Revenue Service (IRS) issued Notice 2012-6, which provides welcome relief for U.S. employers with qualified employee retirement plans that cover Puerto Rico …
Congress Reconsiders Independent Contractor Classification
Posted in the National Law Review an article by Robert B. Meyer and David L. Woodard of Poyner Spruill LLP regarding Employee MisClassification Prevention Act (EMPA): It appears that Congress has again turned its attention to the issue of employee/independent contractor classification. On October 13, 2011, Rep. Lynn Woolsey (D-CA) reintroduced legislation titled the “Employee Misclassification Prevention Act” (EMPA). This bill, …
Ford Motor Credit Company v. Chesterfield County: Reading Constitutional Fairness And Supply Side Economics Into The Virginia Tax Code
Recently posted in the National Law Review, Winner of the Winter 2011 Student Legal Writing Contest, Adam Blander of Brooklyn Law School wrote an article regarding the recent decision of Ford Motor Credit Company v. Chesterfield County: In the recent decision of Ford Motor Credit Company v. Chesterfield County,[1] the Virginia Supreme Court held that the gross receipts of a taxpayer’s local business branch …
Is the $5 Million Gift Tax Exempt Amount About to End?
Recently posted in the National Law Review an article by Elyse G. Kirschner and Carlyn S. McCaffrey of McDermott Will & Emery regarding the The Tax Relief Act of 2010 made significant changes to the gift, estate and generation-skipping, however, not permanent: The Tax Relief Act of 2010 made significant changes to the gift, estate and generation-skipping transfer …
2011 Wisconsin Act 49: Wisconsin Tax Law Amended to Conform with Federal Adult Child Coverage Requirements
Posted in the National Law Review an article by Alyssa D. Dowse and Timothy C. McDonald of von Briesen & Roper, S.C. regarding Wisconsin’s state income tax law for health coverage provided to an employee’s adult child to the exclusion provided for that coverage under federal income tax law. As expected, Governor Scott Walker has signed legislation to conform the exclusion …
Wisconsin Eliminates Income Tax Disparity on Health Coverage for Adult Children
Posted on November 9, 2011 in the National Law Review an article by attorneys Kelli A. Toronyi, Charles P. Stevens and Kirk A. Pelikan of Michael Best & Friedrich LLP regarding Wis. Act 49.: On November 4, 2011, Governor Walker signed into law 2011 Senate Bill 203 now known as 2011 Wis. Act 49. The bill, which received large bipartisan support among Wisconsin legislators, exempts …
ABA Conference: Criminal Tax Fraud and Tax Controversy
The National Law Review wanted to bring your attention to the upcoming 28th Annual National Institute on Criminal Tax Fraude and the Fisrt National Institute on Tax Controversy on December 1-2, 2011 in Las Vegas: Program Description The National Institute on Criminal Tax Fraud is the annual gathering of the criminal tax defense bar. This year, it …
IRS Announces Retirement Plan Limitations for 2012 Tax Year – Most Limits Increased
Recently posted in the National Law Review an article written by Alyssa D. Dowse of von Briesen & Roper, S.C. regarding the cost of living adjustments for the 2012 tax year: The Internal Revenue Service (“IRS”) has announced the cost of living adjustments for the 2012 tax year, which affect various dollar limitations for retirement plans. The IRS increased many of these …
The Top Five Tax Traps in M&A Transactions
Recently posted in the National Law Review an article by Jeffrey C. Wagner and Daniel N. Zucker of McDermott Will & Emery regarding tax consequences of acquisition and disposition transactions: The tax consequences of acquisition and disposition transactions can dramatically impact deal value. Often the potential tax issues can be resolved in a manner that is consistent with the intention of the parties …
Carried Interest Language Narrowed, but Remains Far-Reaching
Recently posted in National Law Review an article by Kevin J. Feeley, Gary C. Karch and Patrick J. McCurry of McDermott Will & Emery regarding Obama administration’s recent carried interest tax provision: This newsletter summarizes the Obama administration’s recent carried interest tax provision. The provision is not expected to be enacted soon, but the proposal contains drafting changes of interest to those following the discussion. …
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