Legal Alert: Significant, Proposed Limitations on IRA Investments Included in House Legislation
Posted on Oct 5, 2021 in Employee Benefits
On September 27, 2021, the Build Back Better budget reconciliation legislation was introduced in the House of Representatives (the Legislation), which includes numerous revenue raisers and other tax-related changes. While many of these proposals have garnered much attention (increases in individual and corporate rates, among others), limitations on investments that can be held by...
House to Vote on Tax Reform 2.0 on Thursday and Friday
House Ways and Means Committee Chair Kevin Brady recently stated the House votes for Tax Reform 2.0 are scheduled to occur on Thursday and Friday. H.R. 6757, the Family Savings Act of 2018, and H.R. 6756, the American Innovation Act of 2018, are scheduled for votes on Thursday. H.R. 6760, the Protecting Family and Small Business Tax Cuts Act of 2018, is scheduled for vote on Friday....Tax Reform 2.0 Will Likely Not Be Passed By Congress Before Midterms
House Ways and Means Committee Chair Kevin Brady recently stated that the three tax bills that together comprise the new tax reform package will likely not get through the Senate before midterm elections. The House Ways and Means Committee previously passed the bills through committee. The House is expected to vote the legislation later this month. Read More: Top House tax writer Kevin...Draft of Tax Reform 2.0 Introduced in Congress
House of Ways and Means Committee Chair Kevin Brady recently highlighted the introduction of three new tax bills that together comprise the new tax reform package. The drafts of new tax legislation deal primarily with individuals, retirement savings, and small businesses. H.R. 6760, the Protecting Family and Small Business Tax Cuts Act of 2018, would extend the 20 percent deduction on...Tax Reform 2.0 Outline Released with Three Main Themes
Posted on Jul 25, 2018 in Employee Benefits, Individual Taxation
House Ways and Means Committee Chairman Kevin Brady recently released an outline of the planned tax reform 2.0 legislation. The tax package will focus on making the individual and small business tax cuts permanent; promoting family savings through retirement and section 529 education savings programs; and encouraging the creation and development of new businesses. The legislation will...
Phase Two of Tax Reform Will Retain Pretax Benefits of 401(k) Plans
Posted on Jul 5, 2018 in Employee Benefits, News
A spokesperson from the House Ways and Means Committee recently stated that the new tax proposals will not revise the pretax treatment of 401(k) savings plans. House Ways and Means Committee Chairman Brady previously stated, in an interview, that the phase 2 tax proposal might address retirement and include a savings element. Read More: Ways & Means Quashes Rothification Concerns...
Legal Alert: Compensation and Benefits Provisions in the Final Tax Cuts Bill
View the Eversheds Sutherland Legal Alert focusing on key provisions affecting compensation and benefits in the Final Tax Reform Bill here.Legal Alert: Tax Cut and Run: Employee Benefits Change Under the Tax Cuts and Jobs Act
View the Eversheds Sutherland Legal Alert discussing the employee benefits provisions of H.R. 1 here.House Republicans Disclose Budget Plan
Posted on Jul 18, 2017 in Employee Benefits, News
The House GOP has unveiled its budget plan, calling for extensive cuts in federal spending, including federal employee benefits, financial industry regulations and welfare expenditures, that total over $200B. Along with anticipated accelerated economic growth, these cuts are intended to produce a balanced budget over the next decade. While divisions among the House Republicans make...