Articles

As the 3rd quarter of 2022 commences, tax planning and year-ending strategies may be best to be considered now.

For estates that are not normally required to file tax returns because their value is under the filing threshold, IRS Rev. Proc. 2022-32 increases the time to elect portability of a deceased spouse’s unused exclusion amount (known as DSUE) from two to five years after the decedent’s date of death.

The speed and accuracy delivered by all forms of cyber machinations is undeniable. However, although cyber risk cannot be totally eliminated – at least at this stage of development and as evidenced by this issue of Cyber Roundup – it can be mitigated.

The Forms 5500/5500-SF/5500-EZ and Form instructions for the 2021 plan year were released by the Department of Labor (DOL), in conjunction with the Internal Revenue Service (IRS) and the Pension Benefit Guaranty Corporation (PBGC).

Sponsors of group health plans should be familiar with the requirement for the annual filing of tax forms with the IRS (Forms 1094-C/1095-C).

States continue to address the lack of retirement plan offerings for their residents.

In a recent little-publicized mandate, New York State Governor Kathleen Hochul formally rescinded Executive Order 38 (EO 38). EO 38 was previously put into effect by former New York State Governor Andrew Cuomo on January 18, 2012.

Multinational enterprises (MNE) with operations in the U.S. typically engage in cross-border transactions between related parties and consider transfer pricing rules and regulations on a federal level in the U.S. and the country where the related party is located.

In response to the structural collapse of the Champlain Towers South condominium in Surfside, Florida in June 2021, Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) have provided more stringent lending guidelines entailing scrutinization of the structural integrity of co-ops and condominiums and their cash reserve balances to correct any structural defects.

To assist Connecticut manufacturers more broadly in obtaining and training a qualified workforce, Connecticut recently expanded its Apprenticeship Tax Credit (ATC) to include S corporations, partnerships and limited liability companies (pass-through entities).

Katherine Patanaude, Senior Manager, considered the equity and inclusion policies and procedures of the City of Pittsburgh’s Urban and Redevelopment Authority (URA) as reported by an outside agency.

Over the past several years, there have been many changes in the not-for-profit world, including the types of assets that donors are contributing to organizations.