On March 27, 2020, President Donald Trump signed into law the Coronavirus Aid, Relief and Economic Security Act (or the CARES Act), which provides $2 trillion in aid in response to the novel coronavirus (COVID-19) pandemic. This memorandum provides a summary of certain key provisions of the CARES Continue Reading
Tax Provisions Contained in the CARES Act
The Bottom Line The CARES Act offers a number of tax benefits for both individuals and businesses with the aim to enhance taxpayer cash flow for 2020.Both classes of taxpayers need to pay close attention to these tax provisions as a number of them will have an immediate impact on both personal and Continue Reading
IRS Defers Tax Payment and Filing Obligations Due to the Coronavirus Pandemic
The Bottom Line The Internal Revenue Service (IRS) has deferred both income tax payments and income tax filings to July 15, 2020 due to the COVID-19 pandemic, pushing the deadline three months later than the standard April 15, 2020 deadline. The full Notice 2020-18 (Notice) can be viewed Continue Reading
Supreme Court Rules “Amazon” / “Nexus” Taxes Are Permissible
The Bottom Line The Supreme Court’s Wayfair decision confirmed that states may collect sales tax on internet sales between consumers and retailers who don’t have a physical presence in the state.In anticipation of a flurry of related legislation, online retailers, marketing affiliates and all Continue Reading
Corporate Synergies® The Current Event | Legal Update: How the New Tax Code, Paid Leave & the ACA are Disrupting Benefits
Alan Hahn, Davis+Gilbert Benefits + Compensation partner and Co-Chair, will speak during a keynote discussion titled “Legal Update: How the New Tax Code, Paid Leave & the ACA are Disrupting Benefits,” at a forum sponsored by Corporate Synergies, taking place in New York City on June Continue Reading
Crystal & Company Webinar | Implications of Recent Federal Tax and Budget Legislation on Employer – Sponsored Benefit Programs
Alan Hahn, Davis+Gilbert Benefits + Compensation Co-Chair, will speak during a Crystal & Company webinar titled "Implications of Recent Federal Tax and Budget Legislation on Employer Benefit Programs" taking place at 3:00 p.m. EST on June 6. Session Overview This webinar will cover how Continue Reading
Crystal & Company Webinar | Implications of Recent Federal Tax and Budget Legislation on Employer – Sponsored Benefit Programs
Alan Hahn, Davis+Gilbert Benefits + Compensation Co-Chair, will speak during a Crystal & Company webinar titled "Implications of Recent Federal Tax and Budget Legislation on Employer Benefit Programs" taking place at 2:00 p.m. EST on April 17. Session Overview This webinar will cover how Continue Reading
Tax Reform Eliminated Deductions for Confidential Sexual Harassment Settlements
The Bottom Line The TCJA now prohibits employers from taking business deductions for confidential settlements or payments related to sexual harassment or sexual abuse claims. Consulting counsel early on is critical, as this new law could increase the complexity and costs of such settlements. Continue Reading
IRS Begins Issuing ACA Penalty Notices to Employers
The Bottom Line The IRS has started enforcing penalties under the ACA, and ALEs and their staff should be on the lookout for a possible ESRP notice. If an ALE receives a notice, it should reach out to its ERISA counsel immediately and begin reviewing its IRS Forms 1094-C and 1095-C. Any ALE that Continue Reading