With the Tax Cuts and Jobs Act (TCJA) of 2017 overhauling many aspects of personal income tax, this year’s filing is sure to be challenged by plenty of tax payer confusion. On January 16, the Internal Revenue Service (IRS) announced that it would be waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated …
On November 1, the Internal Revenue Service (IRS) announced contribution limit increases for various retirement savings plans, including 401(k), 403(b), most 457 plans, and the government’s Thrift Savings Plan. A detailed assessment of the changes, as published by the IRS, appears below the chart. The IRS has announced the 2019 Retirement Savings Plan Limits as follows: Plan Limits 2018 …
Following up on the release, last week, (August 21, 2018) of Guidance on Section 162(m) of the Federal Tax Code, we are sharing the initial reactions of Attorney Mike Melbinger, Partner in the Chicago offices of Winston & Strawn, LLP. Below are excerpts from two of Mike’s posts about this timely topic, previously published in the Executive Compensation Blog, and …
The IRS has issued guidance on Section 162(m) of the Federal Tax Code as amended by P.L. 115-97, the law generally known as the, “Tax Cuts and Jobs Act.” You can read the notice, which was published August 21, 2018, in entirety, here: Notice 2018-68. The information released this week primarily focuses on the amended rules for identifying covered employees …
Fulcrum Partners is pleased to share the following report, prepared by the Employee Benefits group at Isler Dare PC: The Elusive Search: Considerations for Locating Missing Retirement Plan Participants. You may read or download the full report as a PDF here. Executive Overview Changes to the tax environment and Internal Revenue Service (IRS) policies are creating a need for …
Fulcrum Partners would like to share this important update from our friends at IslerDare PC, regarding guidance from the Internal Revenue Service (IRS) on Health Savings Accounts limits, delays to the so-called “Cadillac” tax, proposed Department of Labor rules, and other timely issues that could impact health plans and insurance coverage for you and your company. The following content, published …
Big Questions Remain about Your Retirement Security and Tax Reform Millions of working or recently retired Americans who have chosen to defer income for their retirement could take a serious hit to their financial security from the proposed tax reform bill, known as the Tax Cut and Jobs Act. As initially presented, proposed tax changes would have dismantled nonqualified deferred …
Fulcrum Partners LLC is sharing this important message about tax reform and how it could negatively affect your retirement. FOR IMMEDIATE RELEASE Tax Reform Still Putting Your Retirement at Risk by Changing Deferred Compensation PONTE VEDRA BEACH, FL — (November 13, 2017) Fulcrum Partners LLC, one of the nation’s leading executive benefits consultancies, is urging working Americans to become aware …
The following update is the complete announcement by the Internal Revenue Service (IRS) issued on October 19, 2017, regarding 2018 Pension Plan Limitations. You will also find this announcement, in entirety on the Newsroom page of the IRS.gov website. The chart that appears below was developed by Fulcrum Partners for your reference. 2018 Pension Plan Limitations $ 18,500 Employee …
The clock is ticking for hedge fund managers and each tick resonates with the distinctive ca-ching of money leaving the manager’s pockets. For years, a tax code loophole enabled hedge fund managers to accumulate offshore gains without the requirement to pay federal or state taxes. Managers of offshore funds could simply defer receipt of compensation (which could be management fees, …