Complying with the return filing and payment deadlines imposed by different states is one of the most challenging tasks faced by taxpayers and their accountants/counsel. The sheer volume of returns and...
Tenants usually insist upon the right to audit landlords’ operating expenses to ensure charges are reasonable and accurate. Use this audit right clause in commercial leases drafted from a landlord’s...
In today’s global environment, clients are looking beyond their own borders for enticing M&A opportunities. With so many variables introduced across jurisdictions, M&A attorneys need to be...
Track settlements negotiated by the U.S. Department of Justice (DOJ) in matters involving allegations of healthcare fraud and abuse—including violations of the Anti-Kickback Statute, Physician Self...
Do you need to train employees, supervisors, and HR personnel about the requirements of the Family Medical Leave Act? Check out our training presentation, FMLA Guidance for Employers, by Jesenka Mrdjenovic...
The SECURE 2.0 Act of 2022 (Division T of Pub. L. No. 117-328), or SECURE 2.0, includes provisions that take effect in 2024 and 2025. For example, 401(k) and 403(b) plans have been permitted to include salary deferral catch-up contributions for more than 20 years, giving participants, age 50 or older, a chance to boost their retirement savings. For 2023, the catch-up contribution limit is $7,500 (indexed). While, based on plan design, participants have been able to choose the form of catch-up—pre-tax, Roth, or a mix of the two—effective January 1, 2024, SECURE 2.0 required catch-up contributions to be made on a Roth basis, for participants with wages greater than $145,000 in the previous year. IRS just provided a two-year pause on that requirement. IRS Notice 2023-62. Another Roth change starts in 2025, providing a new catch-up limit for employees who are ages 60 to 63 (permitting contributions equal to the greater of $10,000 or 150% of the regular catch-up limit). Plan ahead—but now at an easier pace!
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