With all the national press coverage about tax savings, tax cuts and company bonus payments associated with the Tax Cuts and Jobs Act of 2017 (the “Tax Act”), it is easy to miss the changes in federal tax laws that impose substantial negative tax consequences on employers that pay certain executives an amount of compensation
Tax Cuts and Jobs Act
IRS Issues Guidance FAQs Regarding the Paid Family Leave Federal Tax Credit
By Jackson Lewis P.C. on
Posted in Disability, Tax Cuts and Jobs Act
This week, the Internal Revenue Service (IRS) issued FAQ guidance regarding the employer tax credit for paid family and medical leave. As a reminder, the Tax Cuts and Jobs Act of 2017 (the Act) provides a tax credit to employers that voluntarily offer paid family and/or medical leave to employees. The FAQs clarify some of…
2018 Tax Reform Series: Goodbye to the Individual Mandate
By Stephanie O. Zorn on
Posted in Affordable Care Act, Tax Cuts and Jobs Act
This is the seventh article in our series covering various tax and employee benefits-related changes contained in the Tax Cuts and Jobs Act signed by the President on December 22, 2017.
Once significant change made by the Act, summarized below, is the elimination of the Affordable Care Act’s individual mandate, effective 2019.
Background
Long an…
2018 Tax Reform Series: Change to Employer Deduction Rules
By Bruce H. Schwartz & Melissa Ostrower on
Posted in Tax Cuts and Jobs Act
This is the sixth article in our series covering the various tax and employee benefits-related changes contained in the Tax Cuts and Jobs Act signed by the President on December 22, 2017.
One surprising change made by the Act, summarized below, is the elimination of the employer deduction for certain settlement payments made in the…
2018 Tax Reform Series: New Excise Tax on “Excess” Executive Compensation Paid by Tax-Exempt Employers
By Melissa Ostrower & Jackson Lewis P.C. on
Posted in Tax Cuts and Jobs Act
This is the fifth article in our series covering the various employee benefits-related changes contained in the Tax Cuts and Jobs Act signed by the President on December 22, 2017.
Some of the most fundamental changes under the Act in the employee benefits and executive compensation arena impact executive compensation paid by tax-exempt employers and…
2018 Tax Reform Series: Executive Compensation Changes for Publicly Held Entities
By Melissa Ostrower & Jackson Lewis P.C. on
Posted in Equity Awards, Tax Cuts and Jobs Act
This is the fourth article in our series covering the various employee benefits-related changes contained in the Tax Cuts and Jobs Act signed by the President on December 22, 2017.
In addition to the changes we have already discussed in this blog, the Act made significant changes to the taxation of executive compensation arrangements through…
2018 Tax Reform Series: Is Your Company Eligible for a Tax Credit for Paid Leave?
By Monique Warren on
Posted in Tax Cuts and Jobs Act
Below is the third article in our series covering the employee benefits-related changes contained in the Tax Cuts and Jobs Act signed by the President on December 22, 2017.
The Act provides employers with a welcome tax credit for offering paid family and medical leave to employees – at least for 2018 and 2019. If…
2018 Tax Reform Series: Tax Law Changes to Employee Fringe Benefits
By Bruce H. Schwartz on
Posted in Tax Cuts and Jobs Act
Below is the second article in our series covering the employee benefits-related changes contained in the Tax Cuts and Jobs Act signed by the President on December 22, 2017.
As discussed below, the Act makes several changes to the taxability and deductibility of employee fringe benefits beginning January 1, 2018.
The changes are somewhat arbitrary…
2018 Tax Reform Series: A Change to Participant Loan Rollovers
By Raymond P. Turner on
Posted in Tax Cuts and Jobs Act
One welcome qualified plan change under the Tax Cuts and Jobs Act is the extension of the period within which a participant may pay the amount of an “offset” of an outstanding plan loan to another qualifying plan or IRA to accomplish a tax-free rollover of the loan offset amount. The change became effective January…