Dive into the new IRS regulations affecting retirement plan participants and beneficiaries with Kathryn J. Kennedy, former professor of law at the University of Illinois, for this second part of a two-part article series.
Dive into the new IRS regulations affecting retirement plan participants and beneficiaries with Kathryn J. Kennedy, former professor of law at the University of Illinois, for this first part of a two-part article series.
Parties to transactions in which tax gross-ups are contemplated should pay close attention when negotiating the terms of tax gross-up provisions — similar to how they manage other terms affecting deal economics.
The U.S. Supreme Court’s June 6, 2024 determination in Connelly v. United States, that a corporation’s life insurance policy held for redemption of a deceased shareholder’s stock increases its fair market value, will significantly affect many buy-sell agreements, many of which utilize life and disability insurance as the ideal funding mechanism for payment of the purchase price upon death, disability, or retirement.
Where a Kansas statute said acquisition price should be one of several determinants of the fair market value of replacement realty, the legislature earlier this year passed an amendment saying such price shouldn’t be considered at all.
Taxpayers generating, selling, and using federal renewable energy credits should beware of potential state tax liability if a state doesn’t conform to federal income exclusions, warn KPMG’s Daniel De Jong and Jasmine Desai.
Estate planners Matt McClintock and Abbie M.B. Everist explain the importance of addressing digital asset issues, particularly given the nascent and “cryptic” nature of the asset, the industry, and the technology through which it is administered — and likely the novel understanding of estate fiduciaries who would administer such assets.
Puerto Rico benefits consultant Carlos Gonzalez explains the rules by which U.S. companies with operations on the Island make employer matching contributions on account of qualified student loan payments by P.R. participants in either “dual-qualified” or “P.R.-only qualified” plans.
To quote the famous business management guru Peter Drucker, “You can’t manage what you can’t measure.” In the world of financial reporting, recognition and measurement are two of the fundamental matters that must always be addressed, and these concerns, in the context of research and development expenditures, may give rise to intangible assets, the measurement of which admittedly can sometimes be challenging.
By overturning Chevron deference to the regulations of federal agencies, the U.S. Supreme Court, on June 28 in Loper Bright Enterprises v. Raimondo, effectively transferred all interpretive authority of statutes to the courts, which are now considering challenges in several areas of ERISA regulation.
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