Potential Pitfalls in Union Pension Relief Program
The relief included in the latest stimulus program is a major win for stressed union pensions, but sources say there are some challenging hurdles yet to jump.
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Signed into law in early March, the American Rescue Plan Act (ARPA) included $1.9 trillion in collective economic relief, much of it targeted to address the coronavirus pandemic.
Along with other provisions aimed at supporting the retirement planning sector, the law allowed for substantial relief payments to be targeted at stressed multiemployer pension plans sponsored by unions. Specifically, the law allows multiemployer plans that are in “critical and declining” status, as defined by prior legislation, to get a lump sum of money to make benefit payments for the next 30 years, or through 2051.
by Matt Shipman April 8, 2021 .
RALEIGH – A recent study of more than 2,000 companies finds that corporations feeling the pinch of financial constraints can benefit significantly from taking a more aggressive stance in their tax planning strategies. One takeaway of the finding is that tax authorities should look closely at the activities of companies facing financial constraints to make sure their tax activities don’t become
too aggressive.
Financial constraints aren’t unusual and occur when a company can’t afford to fund a project that would increase its value. Sometimes the constraints are caused by an external event – like a pandemic – that leaves companies with less income than they were anticipating. Sometimes the factors causing a constraint are specific to a single company, such as corporate mismanagement.
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A recent study of more than 2,000 companies finds that corporations feeling the pinch of financial constraints can benefit significantly from taking a more aggressive stance in their tax planning strategies. One takeaway of the finding is that tax authorities should look closely at the activities of companies facing financial constraints to make sure their tax activities don t become too aggressive.
Financial constraints aren t unusual and occur when a company can t afford to fund a project that would increase its value. Sometimes the constraints are caused by an external event - like a pandemic - that leaves companies with less income than they were anticipating. Sometimes the factors causing a constraint are specific to a single company, such as corporate mismanagement.
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