The recent Complaint filed for severance benefits against Elon Musk, X Corp., et.al., serves as a reminder that it is as important to clearly establish the fiduciary governance structure over severance plans subject to the...more
The United States and Canada have long been great trade partners, and not only with respect to hockey players. As commerce in general and employee mobility in particular increases, employers with operations in the United...more
What happened: The Federal Trade Commission is seeking to ban non-compete agreements nationwide.
Why it matters to employers: If the rule goes into effect and withstands legal challenges (a big if), the impact on...more
On Friday, May 15, 2020, the Small Business Administration, in consultation with the U.S. Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application. The application is accompanied...more
Congress has now passed the Coronavirus Aid, Relief and Economic Security Act or CARES Act – Federal government’s Phase III response to the health and economic impacts related to the COVID-19 pandemic. President Trump has...more
Prior to the effective date of the tax bill recently signed by the President, Section 164 of the Internal Revenue Code permitted individuals who itemized deductions to deduct state and local income and other designated taxes...more
The Tax Cuts and Job Act of 2017 was recently signed into law creating two important changes in executive compensation, which we outline below.
The Tax Bill Permits Certain Employees to Elect to Defer Taxation of Qualified...more
1/3/2018
/ CEOs ,
CFOs ,
Compensation & Benefits ,
Deferred Compensation ,
Executive Compensation ,
Incentive Stock Options ,
Publicly-Traded Companies ,
Reporting Requirements ,
Section 162(m) ,
Tax Cuts and Jobs Act ,
Tax Reform
The “intermediate sanctions” rules under Section 4958 of the Internal Revenue Code have long governed the payment of compensation to executives of public charities. While these rules are highly prescriptive, if followed, they...more
1/2/2018
/ 501(c)(3) ,
Board of Directors ,
Charitable Organizations ,
Compensation & Benefits ,
Conflicts of Interest ,
Covered Employees ,
Deferred Compensation ,
Employee Benefits ,
Excise Tax ,
Executive Compensation ,
Form 990 ,
IRS ,
Nonprofits ,
Remuneration ,
Tax Cuts and Jobs Act ,
Tax Exempt Entities ,
UBTI
Taking note of the #MeToo movement, Congress included a new provision in the tax code overhaul bill — Section 13307 – which is titled “Denial of Deduction for Settlements Subject to Nondisclosure Agreements Paid in Connection...more
12/22/2017
/ Attorney's Fees ,
Corporate Counsel ,
Employee Training ,
Employer Liability Issues ,
Equal Pay Act ,
Gender-Based Pay Discrimination ,
Non-Disclosure Agreement ,
Sexual Abuse ,
Sexual Harassment ,
Tax Deductions ,
Tax Incentives ,
Title VII
The Treasury Department and the Internal Revenue Service recently issued comprehensive proposed regulations governing nonqualified plans subject to tax under Internal Revenue Code § 457. Code § 457 prescribes the tax rules...more
7/8/2016
/ Deferred Compensation ,
Forfeiture ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Non-Compete Agreements ,
Proposed Regulation ,
Section 409A ,
Section 457(f) ,
Severance Agreements ,
Tax Exempt Entities ,
U.S. Treasury ,
Vesting
Introduction -
A recent decision by the U.S. Court of Appeals for the First Circuit increases the risk that a private equity fund could be liable for its portfolio company’s unfunded pension liabilities. Additionally,...more