The United States has tax treaties with nearly 70 countries to prevent double taxation and curb tax evasion. These treaties, based on Article II, Section 2 of the U.S. Constitution, are reciprocal and...
Real estate activities are highly regulated, and each state has laws governing specific prohibited practices as well as liabilities and penalties for violations. Explore this state law survey covering...
Contractual disputes regarding allegations of fraud are often complex, time-consuming, and expensive to litigate. Parties may amicably negotiate an acquisition agreement without even considering whether...
This practice note covers FDA prior notice requirements for imported food, including scope and exceptions, notification contents and timing, methods of submitting notice, and consequences for failing to...
Do you need guidance on drafting international employment contracts? Read our International Employment Agreements: Key Drafting Tips practice note, by John L. Sander, Michael Watts, and William Ellis,...
For plan years beginning in 2026, higher-compensated participants (not highly compensated employees under Section 414(q)) in 401(k) plans and salary reduction 403(b) plans will not be allowed to make catch-up contributions on a pre-tax basis. But they will be permitted to make them to a designated Roth account up to the applicable catch-up limits. The restriction applies to individuals whose FICA wages for the preceding calendar year paid by the plan sponsor exceed $145,000 (to be indexed for inflation). It is anticipated that plans must have (or will need to add) a Roth feature to take advantage of the rule. Another Roth rule is already effective. In and after 2024, plan sponsors of defined contribution plans can include an emergency savings account provision in their plans for non-highly compensated employees (NHCEs). This feature allows NHCEs, if they choose, to contribute up to $2,500 to an emergency subaccount, called a pension-linked emergency savings account (PLESA), but only on a Roth basis. So, get ready for the Roth!
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