IRS Issues Private Letter Ruling on Student Loan Payments from Retirement Plan
On August 17, 2018 the Internal Revenue Service (“IRS”) issued Private Letter Ruling 201833012 responding to a request by an Employer for a ruling on the Employer’s proposed “student loan benefit program” under its [...]
NORTH CAROLINA SUPREME COURT AFFIRMS COURT OF APPEALS IN KAESTNER
A portion of N.C. Gen. Stat. Section 105-160.2 providing that a trust may be taxed on income “that is for the benefit of a resident of this State” was found to be unconstitutional as [...]
IRS PUBLISHES PROPOSED REGULATIONS ON PASS-THROUGH DEDUCTIONS UNDER CODE SECTION 199A
The IRS has issued proposed regulations on one of the most complicated but beneficial provisions under the Tax Cuts and Jobs Act: the pass-through and qualified business income (QBI) deductions under Code Section 199A. [...]
Federal and State Certification Opportunities for Businesses owned by Women, Minorities or Veterans
A business owned and operated by women, minorities or veterans may wish to consider pursuing certain federal and state certifications that have the potential to increase revenue and enhance profitability. These certification opportunities arise [...]
North Carolina enacts new Power of Attorney Act
Effective January 1, 2018, North Carolina has enacted a new Power of Attorney Act (the “Act”) under N.C. Gen. Stat. § 32C. The Act generally governs all financial power of attorneys in North Carolina regardless [...]
IRS Publishes Final Regulations Defining Terms Relating to Marital Status
The Internal Revenue Service (“IRS”) and the Department of the Treasury have released a notice of proposed rulemaking to follow the rulings of Windsor v. United States, 133 S. Ct. 2675 (2013) and Obergefell v. [...]