Harvard University’s tax-exempt status has been questioned by the Trump Administration—with Harvard responding that there is no legal basis for a revocation. The Administration’s action...
Many states are implementing energy benchmarking programs to track and identify energy use in buildings. These programs aim to encourage energy efficiency and reduce greenhouse gas emissions. Check out...
When engaging in M&A discussions, parties should prioritize rigorous confidentiality measures to protect sensitive business information. Our new confidentiality agreement playbook offers valuable insights...
This practice note discusses Institutional Review Boards (IRBs) within the United States, including their purpose, history, and regulatory framework. The note is a valuable resource for advising life sciences...
Do you need guidance on tipped employee requirements under the Fair Labor Standards Act (FLSA)? Read our newly published checklist, Tipped Employees Checklist (FLSA) , for helpful information. Read now...
Raising cash for the Fed, SECURE 2.0 offers two opportunities for plan contributions to be immediately taxed and characterized as designated Roth contributions to the plan. First, effective for tax years beginning after 2023, all employee catch-up contributions to 401(k) plans (and 403(b) and governmental 457(b) plans) for eligible employees whose wages for the preceding calendar year exceed $145,000 (indexed) must be made on a Roth basis. That leads to more taxable compensation for affected employees. Next, with the opportunity beginning now, SECURE 2.0 permits retirement plans to offer eligible employees the opportunity of characterizing fully-vested employer matching and nonelective contributions as designated Roth contributions—much like the existing in-plan Roth rollover opportunity. Pub. L. No. 116-94, Div. T, §§ 603, 604. More taxable compensation and more tax dollars.
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