Tax Law Defined® Blog

Court Rules in Favor of More Transparency for Kentucky Taxpayers

The Kentucky Supreme Court, in Department of Revenue v. Mark F. Sommer, upheld all lower court decisions requiring the Department of Revenue (DOR) to make its redacted final rulings publicly available. The Court ruled that the state DOR took an “unreasonable and overly broad view” of public records statutes and later denied the department’s request for appeal. Read More ›

Rollover Equity Transactions 2019

Rollover Equity Transaction 2019

We recently published an article on our website (which was further published by Law360 and Lexology) addressing tax and business aspects of structuring equity rollovers in M&A transactions involving private equity buyers. Read More ›

Special Timing Rule

Special timing tax rule

Are You Withholding Too Much on Nonqualified Deferred Compensation?

If you have a nonqualified deferred compensation plan for select employees, you are probably aware that benefit payments under a properly structured plan are generally not taxable for income tax purposes until the payments are received by the employee. Read More ›

Unitary is Alive and Kicking in The Commonwealth

As a part of the generational legislation on Kentucky tax passed last April via 2018 HB 486, the General Assembly for the first time in history enacted formal, mandatory unitary combined reporting (MUCR) as a required method of compliance for purposes of the Kentucky corporation income tax. Read More ›

Section 1202 Qualification Checklist and Planning Pointers

We recently published four articles discussing the potential benefits of holding and selling Qualified Small Business Stock (QSBS) under IRC § 1202 and diving into the complicated qualification rules. Based on the volume of responses to those articles, we felt that a basic checklist of qualification requirements would help business owners and tax professionals considering structuring or restructuring a business to take advantage of IRC § 1202, or trying to confirm whether their stock is QSBS. Read More ›

Planning Beyond the Buy-Sell – Ownership Structure Considerations for Closely Held Business Owners

Planning Beyond the Buy-Sell – Ownership Structure Considerations for Closely Held Business Owners

Most closely held business owners recognize that a properly drafted and current buy-sell agreement is an important document that addresses what happens to an owner’s interest in the company in the event of divorce, disability, or death.  What is not commonly known is that how owners hold their respective interests in the company also requires close consideration.  Read More ›

The IRS Backtracks (Again!) on Retiree Lump-Sum Windows

The IRS Backtracks (Again!) on Retiree Lump-Sum Windows

On March 7, 2019, the IRS issued Notice 2019-18, which walked back its prohibition on offering retirees receiving annuity payments a time-limited opportunity to receive their remaining benefit value in one lump-sum payment (a “retiree lump-sum window”). Read More ›

COBRA Noncompliance can be Costly

COBRA Noncompliance can be Costly

Now is a good time for employers to take a look at their COBRA procedures or check with their COBRA vendors about documentation processes given a recent case out of the Southern District of Ohio. Read More ›

The Importance of Regulations in Tax Law, Especially After Kentucky's Recent Tax Reform

The Importance of Regulations in Tax Law, Especially After Kentucky's Recent Tax Reform

The importance of regulations in the world of tax is often overlooked, but in many cases, regulations cut both ways – being a taxpayer’s best friend for guidance purposes or the government’s first line of defense when enforcing tax laws. (You can view Part 2 to this article by clicking here.) Read More ›

IRS Issues Updated Eligible Rollover Distribution Notices - Plans Should Begin Using Immediately

IRS Issues Updated Eligible Rollover Distribution Notices - Plans Should Begin Using ImmediatelyMost retirement plans (including profit sharing, 401(k), and 403(b) plans) are required to provide participants with an explanation of the rules for making an eligible rollover distribution and the tax rules for distributions that are not rolled over. Generally, this rollover notice is part of the participant’s distribution election packet. Read More ›

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Attorney Spotlight

Alison M. Stemler is FBT’s Employee Benefits Team leader. She advises on executive compensation and employee benefits plans, including equity-based and deferred compensation arrangements, and assists with compliance issues for retirement and welfare plans and HIPAA.

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