Showing 25 posts in Federal Tax.
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 ›
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 ›
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 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 ›
2019 Update – How to Deal with Section 1061's Three Year Holding Period Requirement for Carried Interests
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 ›
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 ›
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 ›
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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.