The recently enacted Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, referred to collectively as “Health Care Reform”, mark the dawn of a new age of mandated health coverage that will affect virtually all employers nationwide. Health Care Reform imposes sweeping change with multiple rolling deadlines, but [...]
This notice provides methods for taxpayers to voluntarily correct many types of
failures to comply with the document requirements applicable under § 409A of the
Internal Revenue Code (Code) to nonqualified deferred compensation plans and
thereby avoid or reduce the current income inclusion and additional taxes under § 409A.
This document correction program is intended to encourage taxpayers to [...]
The IRS just issued Notice 2010-6, which contains procedures for voluntarily correcting many types of failures to comply with the document requirements that apply to nonqualified deferred compensation plans under Section 409A of the Internal Revenue Code. (For those of you with a lot of time on your hands, Notice 2010-6 follows this Alert.)
Many [...]
The Internal Revenue Code provides tax credits for certain renewable and biofuels. Included in these credit provisions are income tax credits for alcohol fuels and cellulosic biofuel under Section 40 of the Internal Revenue Code (“IRC”), income tax credits for biodiesel under §40A, and excise tax credits and payments under §§6426 and 6427 for alcohol [...]
The U.S. Treasury Department and the Department of Energy (“DOE”) last week issued guidance on the requirements for the new Qualified Advanced Energy Project (“QAEP”) tax credits. This program, which was created by the 2009 American Recovery and Reinvestment Act, provides a 30 percent federal income tax credit for investment in property which “re-equips, expands, [...]
