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Monday, May 17, 2021 In the latest tax regulation deference case, the Eighth Circuit provided guidance to taxpayers and tax practitioners on the “analytical path” to resolve the question of whether a tax regulation is a valid interpretation of the Internal Revenue Code. The court held that the regulation was invalid in part because it unreasonably added conditions to the statutory requirements for qualified educational organizations, however, it was valid as to its interpretation ...

On May 10, 2021, the IRS issued Notice 2021-26, which addresses the taxation of dependent care benefits, provided through a Code Section 129 dependent care assistance program (“DCAP”),...

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Print The previous column discussed considerations regarding property insurance, but that is only one of many insurance types that most HOAs should have in place. First and foremost is liability insurance. This is the insurance which covers claims of negligent damage or injury affecting persons (owners, tenants, or visitors) on the property. Civil Code Section 5805 protects the individual members of the HOA from being sued personally just because they are HOA members, so long as the HOA has at ...

After making numerous requests for correction for failure by the County Board of Supervisors to abide by various sections of the Brown Act, the Santa Clarita Organization for Planning and the Environment was left with no option than to file a formal legal complaint.

Friday, May 14, 2021 The Tax Cuts and Jobs Act of 2017 added Code Section 4960 to the Internal Revenue Code, which is intended to tax excessive compensation of executives providing services to tax-exempt entities. The limitations apply to tax years beginning on or after January 1, 2018. The Treasury Department previously published proposed regulations and issued interim guidance in the form of an IRS notice (IRS Notice 2019-60). Final regulations were published on January 19, 2021. Th...

To embed, copy and paste the code into your website or blog: The Internal Revenue Service (IRS) has published Notice 2021-26 to provide answers regarding the taxability of benefits received in 2021 and 2022 under a dependent care assistance program (DCAP) that permits carryovers or extended grace periods. In a prior article, we discussed the carryovers and extended grace periods that were permitted as part of the Consolidated Appropriations Act, 2021. The notice clarifies that carryovers and ex...

Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Reviews (NLR’s) and the National Law Forum LLCs  Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not b...

Wednesday, May 12, 2021 The Internal Revenue Service (IRS) has published Notice 2021-26 to provide answers regarding the taxability of benefits received in 2021 and 2022 under a dependent care assistance program (DCAP) that permits carryovers or extended grace periods. In a prior article, we discussed the carryovers and extended grace periods that were permitted as part of the Consolidated Appropriations Act, 2021. The notice clarifies that carryovers and extended grace periods wil...