Business & Tax Articles

The Internal Revenue Service (IRS) April 11, 2022 publication of Fact Sheet 2022-25, "When to file an Identity Theft Affidavit" serves as, unfortunately, a necessary reminder of how to deal with tax and non-tax related identity theft.

What do international conflicts have to do with retirement plans in the United States? At first glance, the answer is “nothing.” However, the correct answer depends on whether your workforce is called to military service while employed and then, after that call to service, resumes employment with you.

Mergers and acquisitions among insurance agencies and brokers in the U.S. and Canada set all-time record in 2021.

The IRS issued final regulations on November 4, 2020, making revisions to the Single Life and Uniform Life tables for calculating required minimum distributions (RMDs), effective January 1, 2022.

This article shows the benefits of multi-generational asset protection planning, using trusts.

Mergers and acquisitions among insurance agencies and brokers in the
United States and Canada continue to occur at record levels.

The IRS has announced the cost-of-living adjustments for pension plans and other related items for the 2022 tax year (Notice 2021-61).

One of COVID’s most severe impacts was on the unemployment system. The system became incredibly complex to navigate due to significant changes at the federal and state levels. Even today, with the federal benefits having expired, the system still seems unfamiliar and tangled.

On September 13, 2021 the U.S. House Ways and Means Committee (the “Committee”) announced their proposed plan and legislative text for the 2022 Budget Reconciliation Bill (the “Plan”), which includes numerous federal tax changes, including the pertinent modifications highlighted here.

This update is regarding the COBRA premium subsidy mandated by the American Rescue Act Plan of 2021 (ARPA) and the notice regarding the availability of the subsidy.

President Biden’s proposed tax plan would increase the top rate from 37% back to 39.6%. The President’s plan provides incentive to reconsider a Roth conversion.

On May 18, 2021, the Internal Revenue Service provided guidance on tax breaks under the American Rescue Plan Act of 2021 for COBRA continuation health coverage.

On March 9, 2021, The PRO Act was passed by the House of Representatives, and now the Act heads to the Senate for a vote. If the Act is ultimately passed and signed into law, it would bring about substantial changes to labor and employment law that the country has not seen in quite some time.

The American Rescue Plan Act of 2021 (ARPA) includes provisions that immediately impact employers subject to COBRA. For employees or beneficiaries who involuntarily incur a loss of coverage due to termination of employment or reduction of hours from April 1, 2021 through September 30, 2021 ARPA subsidizes the COBRA premium payment through September 30, 2021. For employees or beneficiaries who involuntarily incurred a loss of coverage between November 1, 2019 and April 1, 2021, and who either did not elect COBRA or allowed it to lapse, ARPA creates a current opportunity to elect (or re-elect) COBRA prospectively.

With the release of Notice 2020-79 the IRS has announced the cost-of-living adjustments for pension plans and other related items for the 2021 tax year.