Author Archives: Carolyn Smith

Carolyn Smith
Carolyn brings to her practice a unique blend of technical and policy experience, having served for over 20 years as counsel to the members and staff of the House Ways and Means and Senate Finance Committees.  Read More →

Senate Passes Tax Cuts and Jobs Act

▪ Written by
The Senate passed the Tax Cuts and Jobs Act in the early morning hours of Saturday, December 2, marking a major legislative win for the Republican majority.  The final vote on passage was 51-49, with Sen. Bob Corker (R-TN) the only Republican vote against, and no Democrats voting for the bill. A manager’s amendment making significant changes to the bill was adopted.  In addition, two other amendments were adopted, one by Sen. Ted Cruz (R-TX) allowing section 529 education plans to be used to pay for K-12 education expenses, including home schooling, and a Democratic amendment by Sen. Jeff [...]Read more

The Republican Tax Reform Framework: What It Says and What It Doesn’t

▪ Written by
Tax reform is coming, and Republican leaders have published a framework that raises as many questions as it answers. Our Tax Policy & Regulation Team investigates what the Big Six reveal and—just as important—what they don’t. Tax rates for corporations and pass-through entities Shifting to a territorial tax system Revenue raisers and budget impact Read the full advisory here. [...]Read more

Dealing with Disaster: Issues and Relief for Employee Benefits Plans

▪ Written by
In the wake of the widespread destruction caused by Hurricanes Harvey and Irma, federal agencies have offered employers and plan sponsors relief from some deadlines and other issues. Our Employee Benefits & Executive Compensation Group discusses common issues and offers a high-level overview of the types of relief that may be available. Health plan coverage and retirement plan issues Tax filing deadlines and leave donation programs Additional federal resources Read the full advisory here. [...]Read more

Lawsuits Are Focused on Wellness Program Compliance. Are You?

▪ Written by , and
Wellness programs are a win-win for everybody – until administrators run afoul of ambiguous rules and regulations. Our Employee Benefits & Executive Compensation Group analyzes two recent lawsuits that could impact program design and tobacco surcharges. AARP v. EEOC Acosta v. Macy’s The implications Read the full advisory here.  [...]Read more

Tax Policy & Regulation ADVISORY: If Republicans Agree on 80% of Tax Reform, What’s the Other 20%?

▪ Written by
Our Tax Policy & Regulation Team explores the uneven terrain unfolding in the tax reform debates, from the debt limit to the deficit to reconciliation. Non-tax issues may impact tax reform One of the most fundamental issues for tax reform Adding to the uncertainty Read the full advisory here. [...]Read more

ADVISORY: The American Health Care Act Moves Forward: What Employers need to Know About the House-Passed Bill

▪ Written by , , and
The American Health Care Act may not be law yet, but the House-passed version gives us an idea of what to expect. Our Employee Benefits & Executive Compensation Group provides an outline of the current bill and the changes it would bring to the Affordable Care Act. Employer reporting requirements Taxes What’s next Read the full advisory here. [...]Read more

Déjà Vu All Over Again – The Recurring Saga of Expiring Tax Provisions

▪ Written by
If you go by what Yogi Berra says, tax policy and baseball have a lot in common.  Just as we head toward the end of the regular season of baseball and hope we make it to play-offs, Congress is doing the same.  Having returned from the August recess, they are looking ahead at what they need to do to finish strong.  As for déjà vu, the atmosphere surrounding expired tax provisions is markedly similar to what it was last year around this time.  Will the result be different this year?  Maybe.  Let’s take a look at the issues and what’s happened so far. Discussions of tax reform have [...]Read more

Tax Policy Update – Nov. 1 – What to Expect From the Lame Duck Session

▪ Written by
What does Congress NEED to get done in a lame duck session?  The continuing resolution (CR) Congress passed just before leaving for the campaign trail funds the federal government just through December 11, so Congress will need to extend funding.  That’s clearly a driving force in the lame duck. There are also tax provisions that many would like to see addressed – the CR extended the Internet Tax Freedom Act  just through December 11, and there are a whole host of business and individual tax provisions (including the very popular R&D credit) that expired at the end of 2013 or will expire [...]Read more