Listen to the FGMK Webinar: International Tax Compliance and Planning: What you don’t know may hurt!
With April 15th in the rear-view mirror, we invite you to join us April 30th at 10:00 a.m. (CST) for an update from our International Tax Specialists. The impact of tax reform is being felt by taxpayers and practitioners alike, and we want to be able to provide key insights (coming out of busy season) …
Acceleration Events of the Transition Tax Under IRC Section 965
Taxpayers that elected to pay their 2017 transition tax under IRC Section 965 of the Internal Revenue Code (IRC) in eight installments, and S corporation shareholders that elected to “indefinitely” defer their Section 965 liability, are generally required to pay the remaining balance of the Section 965 tax liability if an acceleration, or triggering, event …
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DOL Proposes Increase to FLSA Overtime Rule Salary Threshold
The U.S. Department of Labor (DOL) published a Notice of Proposed Rulemaking (NPRM) raising the Fair Labor Standards Act (FLSA) salary test threshold to $35,308 per year ($679 per week). This is significantly lower than the $47,476 per year ($913 per week) level proposed by the prior administration in 2016, but represents a significant …
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Retirement Plan Contributions Increased for 2019
Overview of New Limitations Pursuant to IRS Notice 2018-83 (the “Notice”), for the 2019 tax year, the annual contribution limit has increased from $18,500 to $19,000 for employees who participate in an employer sponsored retirement plan under Internal Revenue Code (“IRC”) Sections 401(k) and 403(b), as well as most IRC Section 457 government retirement plans and the …
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