Tax Law Defined® Blog

To Cash or Not to Cash? Tax Treatment for Uncashed Retirement Plan Checks

In Revenue Ruling 2019-19, which was issued on August 14, the Internal Revenue Service (IRS) confirmed that a taxable qualified plan distribution is taxable in the year it is distributed, even if the participant does not cash the check or cashes the check in a subsequent year. Read More ›

Ohio Raises Motor Fuel Taxes (But Not on Everybody)

Semi-Truck affected by gas prices

On April 3, 2019, Ohio Governor Mike DeWine signed House Bill (“H.B.”) 62 which increases the gasoline tax rate by 10.5¢, from 28¢ per gallon to 38.5¢ per gallon. Read More ›

Request Annual Estimate of Multiemployer Pension Plan Withdrawal Liability

An employer which participates in an underfunded multiemployer pension plan should request an estimate of withdrawal liability on an annual basis so it is aware of the amount of any potential withdrawal liability. Read More ›

Navigating the thorny tax issues triggered by the issuance of restricted stock in a rollover transaction

It isn't unusual for shareholders holding vested stock in their target company to roll the stock over into acquiror stock in a taxable or nontaxable exchange. Read More ›

The SECURE Act – Federal Retirement Enhancement Act May Soon Require Complete Restructuring of Inherited IRA Planning

On May 23, 2019, the U.S. House of Representatives passed the “Setting Every Community Up for Retirement Enhancement Act of 2019,” known as the SECURE Act, with a vote of 417 to 3. Read More ›

Kentucky’s 2019 Updates to the Tax Code

Kentucky’s 2018 Regular Session of the General Assembly brought sweeping changes to the state’s overall tax structure, but the 2019 changes were not nearly so dramatic. Instead, the Kentucky General Assembly directed its efforts to tidying up several issues from the changes it made last year. Read More ›

New Regulations Provide Clarity About “Specified Service Trade or Business” Categories Under Section 199A

Under IRC § 199A, some businesses that are not C corporations can claim an income tax deduction equal to 20% of their combined qualified business income, subject to certain adjustments and limitations. Read More ›

2019 Update – How to Deal with Section 1061's Three Year Holding Period Requirement for Carried Interests

Uncover the Tax Benefits of Section 1061

Hedge fund, private equity and real estate professionals value the carried interest because it allows them to be compensated for their services at long-term capital gains rates. In a prior article, we discussed the impact of the new IRC § 1061 and provided a summary of its rules. This article provides an update on the status of IRC § 1061 and discusses methods for avoiding its application. Read More ›

IRS Opens Determination Letter Program for Cash Balance Plans, Pension Equity Plans, and Certain Merged Plans

In 2017, the IRS eliminated the ability of sponsors of individually-designed qualified retirement plans to apply for favorable determination letters other than when a plan is first adopted or is terminated.     Read More ›

A Break from Tradition: Trust Planning for Wealthy Blended Families

Despite being a practice area separate and distinct from “family law,” estate planning techniques and strategies adapt not only to changes in tax law but also to the changing societal tides of what makes up a family. Read More ›

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Attorney Spotlight

Scott W. Dolson is a member of FBT, providing corporate, tax and M&A services to LLCs, corporations and partnerships. This includes tax planning for the formation of closely held businesses, LLCs and FLPs and the structuring of syndicated private offerings.

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