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Results: 1-10 of 35

P.L. 86-27-who? Virginia Tax Commissioner determines single employee creates nexus
  • Sutherland Asbill & Brennan LLP
  • USA
  • November 26 2013

The Virginia Tax Commissioner found that a corporation with a single employee in Virginia who conducted work-related activities from a Home Office


IRS extends and expands relief, seeks comments on Puerto Rico plans and group trusts
  • Sutherland Asbill & Brennan LLP
  • Puerto Rico, USA
  • January 4 2012

IRS Notice 2012-6, to be published on January 17, 2012, extends and expands the transition relief provided under Rev. Rul. 2011-1 and Rev. Rul. 2008-40 for certain retirement plans that qualify under the Puerto Rico Internal Revenue Code and group trusts holding investments by such Puerto Rico-qualified plans


The Sixth Circuit splits from the Federal Circuit and rules that severance payments are not taxable as FICA wages
  • Sutherland Asbill & Brennan LLP
  • USA
  • September 20 2012

On September 7, 2012, the Sixth Circuit held that certain types of severance payments (referred to as supplemental unemployment compensation or “SUB payments”) are not taxable wages under FICA


IRS provides temporary relief for IRA cross-collateralization agreements
  • Sutherland Asbill & Brennan LLP
  • USA
  • December 14 2011

In Announcement 2011-81 (December 12, 2011), the Internal Revenue Service granted temporary relief for an indemnity, security interest or other cross-collateralization agreement provided by an individual retirement account owner in circumstances similar to those addressed in U.S. Department of Labor Advisory Opinion 2009-03A and Advisory Opinion 2011-09A


DOL issues 403(b) guidance
  • Sutherland Asbill & Brennan LLP
  • USA
  • July 25 2007

In conjunction with the publication of final tax regulations under Section 403(b), the Labor Department has issued a field assistance bulletin considering the interaction of ERISA with these final regulations


IRS to publish Section 457 guidance
  • Sutherland Asbill & Brennan LLP
  • USA
  • July 24 2007

The Internal Revenue Service and the Treasury have announced their intention to publish guidance under Section 457 applicable to nonqualified deferred compensation plans of state and local governments and tax-exempt entities concerning the definitions of a bona fide severance pay plan under Section 457(e)(11) and substantial risk of forfeiture under Section 457(f)(1)(B


IRS proposes comprehensive cafeteria plan regulations
  • Sutherland Asbill & Brennan LLP
  • USA
  • August 7 2007

Since Internal Revenue Code (“Code”) section 125 was enacted and cafeteria plans were first made available in 1978, the Internal Revenue Service has issued a grab bag of proposed regulations under Code section 125 but issued final regulations only for rules governing mid-year election changes (Treas. Reg. 1.125-4) and coordination of family medical leave with cafeteria plan coverage (Treas. Reg. 1.125-3


IRS announces Section 409A compliance program for discounted stock options
  • Sutherland Asbill & Brennan LLP
  • USA
  • February 12 2007

In Announcement 2007-18, the Internal Revenue Service (IRS) introduced a compliance resolution program that will permit employers to pay the additional taxes employees have incurred under section 409A of the Internal Revenue Code (the Code) as a result of exercising discounted stock options and stock appreciation rights during 2006


Automatic contribution arrangements proposed regulations
  • Sutherland Asbill & Brennan LLP
  • USA
  • November 9 2007

On November 8, 2007, the Internal Revenue Service released proposed regulations (the “Proposed Regulations”) relating to automatic contribution arrangements


403(b) salary reduction agreement defined for FICA purposes
  • Sutherland Asbill & Brennan LLP
  • USA
  • November 26 2007

On November 15, 2007, the Treasury and Internal Revenue Service published final regulations defining section 403(b) 'salary reduction agreements' for FICA purposes