Page 486 - Code Section News Today

To print this article, all you need is to be registered or login on Mondaq.com. Recently released final regulations under section 162(f) of the Internal Revenue Code of 1986, as amended (the "Code"), make it a necessity to properly draft settlement agreements and court orders between a taxpayer and the government (federal, state or local or any of their agencies) to put the taxpayer in the best tax position possible.  Code Section 162(f) was amended by the Tax Cuts and ...

To embed, copy and paste the code into your website or blog: The American Rescue Plan Act of 2021, signed by President Biden on March 11, 2021, (“ARPA”) includes generous provisions granting eligible individuals who have lost their jobs (and their family members) the right to continue their employer group health plan coverage at no cost during the period from April 1, 2021 to September 30, 2021 (“ ARPA Subsidized COBRA”). Employers and plan administrators need to be ready to comply by m...

To embed, copy and paste the code into your website or blog: Recently released final regulations under section 162(f) of the Internal Revenue Code of 1986, as amended (the “Code”), make it a necessity to properly draft settlement agreements and court orders between a taxpayer and the government (federal, state or local or any of their agencies) to put the taxpayer in the best tax position possible.  Code Section 162(f) was amended by the Tax Cuts and Jobs Act in 2017 to limit the deductibi...

The American Rescue Plan Act of 2021, which President Biden is expected to sign this week, includes a handful of provisions affecting employee benefit plans and publicly-traded companies’ tax deductions for executive compensation.

Jury Trials to Resume Again! The world has been battling the COVID-19 pandemic for a year now. All sectors of life, from businesses to schools, to courts, to places of worship, have socially-distanced and shifted to technology to carry out their work. A year ago, on March 14, 2020, Chief Justice Melton of the Supreme Court of Georgia declared a Statewide Judicial Emergency in the State of Georgia due to the “transmission of Coronavirus/COVID-19 throughout the State and the potential infection...

To embed, copy and paste the code into your website or blog: On January 19, 2021, the Treasury Department and Internal Revenue Service issued final regulations under Code Section 4960 (“Final Regulations”), which impose a 21% excise tax on applicable tax-exempt organizations (“ATEO”) that pay remuneration to covered employees in excess of $1 million or provide excess parachute payments. The Final Regulations do not depart significantly from the proposed regulations issued in June, 2020,...

INVESTIGATIVE REPORT Editor-at-Large San Diego City Attorney Mara Elliott this week sent out an email soliciting contributions to a legal defense fund – claiming her campaign opponent filed “frivolous lawsuits” against her – but her email mentions two lawsuits that do not fall under the Municipal Code that allows public officials to raise money for legal expenses, and her paperwork filed to create the committee seems to violate the law. Elliott’s email, titled “ Cory Briggs personal...

AllOnGeorgia March 9, 2021 Georgia Senators had a vote of 33-20 that rejected a bill that would raise their own pay. A similar bill was withdrawn from the General Calendar and recommitted to the Rules Committee on March 3, 2021 in the House of Representatives. On the same day, the house bill was then favorably reported by the Committee Substitute. According to the State Compensation Commission(read below), lawmaker pay has been the same since 1999. The First Reader Summary for Senate Bill 252:...

INVESTIGATIVE REPORT Editor-at-Large San Diego City Attorney Mara Elliott this week sent out an email soliciting contributions to a legal defense fund – claiming her campaign opponent filed “frivolous lawsuits” against her – but her email mentions two lawsuits that do not fall under the Municipal Code that allows public officials to raise money for legal expenses, and her paperwork filed to create the committee seems to violate the law. Elliott’s email, titled “ Cory Briggs personal...

To embed, copy and paste the code into your website or blog: The Consolidated Appropriation Act of 2021 was signed into law on December 27, 2020 and is an impressive 5,593 pages. According to the Senate Historical Office, the Act is the longest bill ever passed by Congress. Buried within the myriad of COVID-19 relief and other changes are numerous employee benefit plan provisions that employers should review and determine next steps for adoption and compliance. We understand you may not have ti...