Williams Mullen | USA | 1 Jan 2014
The Internal Revenue Service ("IRS") recently issued guidance in Rev. Proc. 2014-12, providing a safe harbor for the allocation of IRC Sec. 47…
Williams Mullen | USA | 6 Dec 2013
The United States Tax Court recently issued its opinion in Crescent Holdings, LLC v. Commissioner, 141 T.C. No. 15 (12/2/13), a ruling regarding…
Williams Mullen | USA | 7 Jan 2013
Great news comes in with the American Taxpayer Relief Act of 2012 (the “Act” or “ATRA”) and its amendments to the Internal Revenue Code (the “Code”). The…
Williams Mullen | USA | 28 Sep 2011
President Obama, in his effort to reduce the federal deficit, has proposed in his American Jobs Act to restrict high-income ($200,000 and up) holders of tax-exempt bonds from using that tax exemption to reduce their marginal income tax rates below 28%.
Williams Mullen | USA | 31 Aug 2011
The General Assembly enacted the Virginia Freedom of Information Act to ensure the public ready access to public records and public meetings wherein the “business of the people” is being conducted.
Williams Mullen | USA | 16 Aug 2011
In Faber, et al. v. Metropolitan Life Insurance Company, No. 09-4901-cv, 2011 U.S. App. LEXIS 16153 (2d Cir. Aug. 5, 2011), the U. S. Court of Appeals for the Second Circuit has held that retained asset accounts, in which insurance proceeds are retained by the claims administrator for immediate use by the beneficiary, are not plan assets under ERISA.
Williams Mullen | USA | 25 Jul 2011
Section 627 of the Dodd-Frank Wall Street Reform and Consumer Protection Act repeals the prohibition against the payment of interest on demand deposits, effective July 21, 2011.
Williams Mullen | USA | 19 Jul 2011
The Department of Labor (DOL) has given service providers more time to comply with the fiduciary-level fee disclosure rules and plan sponsors more time to furnish the initial disclosures under the participant-level disclosure rules.
Williams Mullen | USA | 19 Jul 2011
Section 627 of the Dodd-Frank Wall Street Reform and Consumer Protection Act repeals the prohibition against the payment of interest on demand deposits, effective July 21, 2011.
Williams Mullen | USA | 27 May 2011
On Wednesday, May 11, the Federal Reserve Board (the "Board") issued proposed changes to its Regulation Z (Truth in Lending) in order to implement changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Act").