IRS Issues Notice of 2018 Required Amendments for Individually Designed Retirement Plans

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In Notice 2018-91, the Internal Revenue Service has announced there are no changes in qualification requirements on the 2018 Required Amendments List (RA List) for individually designed qualified retirement plans. Generally, the RA List includes statutory and administrative changes in qualification requirements that are first effective during the plan year in which the list is […]

Tax Reform’s Business Interest Limitation Expected Soon

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One important change in the tax law mandated by the Tax Cuts and Jobs Act P.L. 115-97, was a new limitation on the deductibility of business interest.  Historically, bona fide interest paid on business loans was a deductible expense against any revenue generated by the borrower business.  The new limitation presents a striking change from […]

House Ways and Means Chair Brady Notes New Middle-Income Tax Cut Conditionally Expected in 2019

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A new ten percent middle-income tax cut is conditionally expected to be proposed in 2019, according to the House’s top tax writer, House Ways and Means Committee Chairman Kevin Brady, R-Tex.,  This timeline, although largely already expected on Capitol Hill, departs sharply from President Donald Trump’s original prediction that the measure would surface by November […]