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Tax Law Defined® Blog

Frost Brown Todd’s (FBT’s) tax-related blog serves as a practical resource on all things tax – from federal, state and local taxes to more nuanced areas like LLCs, succession planning, employee benefits, estates, incentives and regulated industries taxes. Our authors cover topics pertaining to corporations, employers, individuals, family-owned business, as well as those working in regulated industries, such as manufacturing, logistics, alcohol, tobacco and equine, that are subject to specific tax laws.

Recent Blog Posts

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Determining the Applicable Section 1202 Exclusion Percentage When Selling Qualified Small Business S...

May 13, 2022 | Blogs

When Section 1202 was enacted in 1993, a 50% gain exclusion applicable to the sale of qualified smal...

Beginning of construction project in industrial zone
Opportunity Zone Reform: The Opportunity Zones Transparency, Extension, and Improvement Act

April 20, 2022 | Blogs

The federal Opportunity Zone tax incentive program has facilitated substantial new investment in des...

Helping hand
Part 1 – Reinvesting QSBS Sales Proceeds on a Pre-tax Basis Under Section 1045

April 19, 2022 | Blogs

Section 1045 allows stockholders to reinvest on a pre-tax basis, proceeds from the sale of qualified...

Helping hand
Part 2 – Reinvesting QSBS Sales Proceeds on a Pre-tax Basis Under Section 1045

April 19, 2022 | Blogs

Section 1045 allows stockholders to reinvest on a pre-tax basis, proceeds from the sale of qualified...

Selling QSBS Before Satisfying Section 1202’s Five-Year Holding Period Requirement?

April 19, 2022 | Blogs

A stockholder must hold qualified small business stock (QSBS) for more than five years in order to c...

Horses rounding a turn in the Kentucky Derby race
And They’re Off! Kentucky’s Annual Real Property Tax Appeals Season Begins the First Week of May

April 8, 2022 | Blogs

Now that much of the craziness and uncertainty of the COVID-19 pandemic has passed, which affected t...

Ohio Tax Talk: How Small Business Relief Would Work

April 1, 2022 | Blogs

This article was originally published in Law360 Tax Authority. After making its way through the Ohi...

A tired woman massaging her head
Dealing with IRS Tax Disputes: An Underfunded, Overwhelmed, Yet Formidable Adversary

March 31, 2022 | Blogs

The Taxpayer Advocate Service recently released the National Taxpayer Advocate’s 2021 Annual Repor...

Kentucky Enacts New Laws to Further Promote the Distilled Spirits Industry

March 30, 2022 | Blogs

Last week, the Kentucky General Assembly passed 2022 House Bill (HB) 500, which will boost Kentucky...

Wood house model on computer laptop
New Indiana Low-Income Housing Tax Credit

March 29, 2022 | Blogs

Indiana recently enacted a state Affordable and Workforce Housing Tax Credit (the “Affordable Hous...

Map: "Louisville"
Kentucky Tax Talk: Inside Louisville’s New Tax Regulations

March 9, 2022 | Blogs

This article was originally published in Law360 Tax Authority. When the Louisville Metro Revenue Com...

Major Moment for Kentucky Manufacturers as Supreme Court Determines the Taxability of Machinery, Equ...

March 8, 2022 | Blogs

While the Kentucky General Assembly debates passing significant tax reform legislation during the 20...

Aerial photography of blue solar panels
Industrial Revenue Bonds and the Impact on Local Communities and Solar Developers

March 3, 2022 | Publications

Kentucky is in the midst of a potential solar boom with over 30 projects filed with the Electric Gen...

Income Tax to Be Eliminated in Kentucky?

February 25, 2022 | Blogs

Following the Tax Foundation and Kentucky Chamber of Commerce’s report published this winter detai...

Growth in Income tax collection, tax payer increasing concept : Tax bags, rising bar graph on a basic balance scale, depicting fiscal tax revenue gain and meet target after economic policy and stimulus plan
How Corporations May Run Afoul of the Accumulated Earnings Tax – A Section 1202 Planning Brief

February 16, 2022 | Blogs

We have discussed in previous articles the potential benefits of operating a start-up as a C corpora...

Expansion of Local Tax Legislation Introduced

February 11, 2022 | Blogs

While Kentucky local tax reform has been on the legislative agenda for decades in the Commonwealth, ...

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Section 1202 Planning: When Might the Assignment of Income Doctrine Apply to a Gift of QSBS?

January 26, 2022 | Blogs

Section 1202 allows taxpayers to exclude gain on the sale of QSBS if all eligibility requirements ar...

Planning to File a Refund Claim for Kentucky Property Taxes? Take Note of These Administrative Posit...

January 24, 2022 | Blogs

The Kentucky Department of Revenue (the “Department”) administers the central assessment of all ...

DOL Refines Its Position Regarding Private Equity in 401(k) Plans | Fiduciary Focus Series

January 20, 2022 | Publications

On December 21, 2021, the Department of Labor (DOL) issued a Supplemental Statement clarifying earli...

Revisions to Statute Governing Centralized Municipal Business Tax Collections to Take Effect for Tax...

January 7, 2022 | Blogs

The Ohio General Assembly passed House Bill 228, which will change the way municipal net profits tax...

Papers about tax amnesty and gavel in a court.
Kentucky Tax Amnesty on the Horizon in 2022

January 6, 2022 | Blogs

House Bill 176, introduced by Rep. Ken Fleming (R) on the first day of the 2022 Kentucky Legislative...

Evolution of Tax Increment Financing: Indiana, Kentucky, Ohio, and West Virginia

December 18, 2021 | Publications

Tax increment finance (TIF) legislation continues to evolve in many states within the Frost Brown To...

Barrel of SALT Benefits & Incentives for the Bourbon, Beer and Other Alcoholic Beverages Indust...

December 14, 2021 | Blogs

Being from Kentucky, there are few things we know (or do) better than bourbon. Virtually from birth,...

Close-up Of A Businessperson's Hand Balancing Stacked Coins On Wooden Seesaw With Finger Over Desk
Ohio Tax Talk: Property Tax Bill May Affect School Revenues

December 1, 2021 | Blogs

This article was originally published in Law360 Tax Authority. Ohio H.B. 126, which proposes to mod...

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Planning for the Potential Reduction in Section 1202’s Gain Exclusion

November 3, 2021 | Blogs

On September 13, 2021, legislation emerged from the House Ways and Means Committee that included an ...

The Long and Winding Road: The DOL’s Proposed Rule on ESG Factors and the Exercise of Shareholder ...

October 27, 2021 | Publications

On October 13, 2021, the Department of Labor (DOL) released its proposed “Prudence and Loyalty in ...

Green and white round plastic
What to Consider When a Nonprofit Enters the Cryptocurrency Arena

October 26, 2021 | Blogs

In our previous articles, we have considered various reporting and tax implications associated with ...

ACED Out of the Parking Lot? Proposed Limits to Use of DAFs

October 21, 2021 | Blogs

In June, Senators Charles Grassley and Angus King introduced the Accelerating Charitable Efforts Act...

Calculator and pen on table
Tax Distributions for Pass-Through Entity Owners

October 14, 2021 | Blogs

Tax distributions provided for in a shareholder agreement of an S Corporation or in an operating agr...

"1040 Form, IRS Tax Audit"
Ohio Tax Talk: Ohio’s Bite of Apple Turns Out To Be Sour

October 12, 2021 | Blogs

With a market cap of $2.4 trillion and revenue of $275 billion in 2020, Apple, Inc. (“Apple”) is...

City road building industry
Ohio Tax Talk: Lessons From Apple Commercial Activity Audit

October 7, 2021 | Blogs

This article was originally published in Law360 Tax Authority. With a market cap of $2.4 trillion a...

Maximizing the Section 1202 Gain Exclusion Amount

October 7, 2021 | Blogs

Planning for an investment home run – increasing the standard Section 1202 $10 million gain exclus...

SPAC, special purpose acquisition company symbol. Businessman holds cubes with words 'SPAC' on beautiful white background, copy space. Business and SPAC, special purpose acquisition company concept.
A SPAC Merger Primer for Holders of Qualified Small Business Stock

September 30, 2021 | Blogs

The number of private companies electing to go public through a transaction (referred to in this art...

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Transfers “At Death” of Qualified Small Business Stock

September 29, 2021 | Blogs

This article addresses the consequences of “transfers at death” of qualified small business stoc...

Fraud – Continuing to Pull Back the Curtain on Federal Relief Abuses

September 27, 2021 | Blogs

On August 31, 2021, the Pandemic Response Accountability Committee (PRAC) released its report detail...

Close-up Of A Businessperson's Hand Balancing Stacked Coins On Wooden Seesaw With Finger Over Desk
Congress Proposes Legislation Limiting Section 1202’s Gain Exclusion

September 16, 2021 | Blogs

When Congress enacted Section 1202, it noted that the gain exclusion was intended to “encourag...

Between the Hashes: Developments in State Taxation and Incentives for Cryptomining

September 13, 2021 | Blogs

While the boom of cryptocurrency in the United States has led to several developments and changes to...

Claiming an Ordinary Loss Under Section 1244 for an Investment in a Failed Start-up

September 3, 2021 | Blogs

Congress enacted Section 1202[i] based on the premise that the possibility of a $10 million gain exc...

The Role of the Business Purpose Doctrine in Transaction Planning Involving Qualified Small Business...

September 3, 2021 | Blogs

This article addresses the importance of having bona fide (non-federal income tax) business and pers...

Golden Parachute Tax Savings
DOL Issues FAQs on Lifetime Income Illustrations | Fiduciary Focus Series

September 2, 2021 | Publications

The Department of Labor (DOL) issued “temporary implementing FAQs” on July 26, 2021. The FAQs cl...

Man wearing orange hard hat
Kentucky Tax Talk: Confusion Over Manufacturing Exemptions

September 2, 2021 | Blogs

This article was originally published in Law360 Tax Authority. Kentucky’s sales and use tax e...

Renewables
Solar and SALT – Sunshine is Making Hay

September 2, 2021 | Blogs

The U.S. solar energy industry has experienced huge growth in recent years. More companies are enter...

Ohio Launches Special COVID-19 Property Valuation Complaint Process

August 4, 2021 | Blogs

Ohio Senate Bill (SB) 57 was signed into law on April 27, 2021 by Governor Mike DeWine. Among other ...

Ohio Tax Talk: Adjusting To The Latest Telework Tax Rules

July 30, 2021 | Blogs

As the world transitions out of COVID-19 lockdown, one of the most visible pandemic trends in the pr...

Five Trends We Are Watching as the TMUD Moves Forward

July 20, 2021 | Blogs

In December 2020, Ohio Governor Mike DeWine signed Senate Bill 39, which created a new insurance pre...

Update – Fraud Investigations Related to COVID-19 Assistance Programs

July 13, 2021 | Blogs

The Paycheck Protection Program (PPP) was introduced with the CARES Act in 2020 in an effort to assi...

Kentucky’s Racing Taxes Under Scrutiny

July 2, 2021 | Blogs

In what was a whirlwind of a shorter than normal 2021 regular session, the General Assembly had the ...

Servers Technology
Kentucky Releases Application for New Cryptomining Energy Exemption

June 24, 2021 | Blogs

As discussed at length in my prior article (KY Passes New Tax Breaks for Cryptomining), Kentucky rec...

You May Look, But You Can’t Pay – Structuring Payment Transactions for Online Marketplaces Under...

June 16, 2021 | Blogs

On June 1, 2021, the Tennessee Department of Revenue published Letter Ruling # 21-05,[1] providing n...

What’s in the 86 COBRA Subsidy Q&As Released by the IRS?

June 15, 2021 | Publications

On May 18, 2021, the Internal Revenue Service (IRS) released Notice 2021-31 (“Notice”), a set of...

How State Pollution Control Tax Exemptions Can Help Businesses Transition Under New Biden Environmen...

June 12, 2021 | Blogs

While approximately 100 environmental rules and policies were rolled back or altered during the econ...

Burning Questions for the Tobacco Product Industry as it Deals with Increased and Evolving Tax, Regu...

June 6, 2021 | Blogs

The tobacco industry has always been complicated from a tax and regulatory standpoint, but recent an...

Ransomware and Bitcoin – New Proposed Cryptocurrency Reporting Requirements

June 3, 2021 | Blogs

In our previous article, we discussed the increasing problem of cybersecurity breaches resulting in ...

Kentucky Tax Talk: General Assembly Makes Strides to Assist Businesses During the 2021 Legislative S...

June 1, 2021 | Blogs

In our December and February Kentucky Tax Talk articles, we covered what to watch for going into the...

Ohio Tax Talk: One Company’s Trash Is Another’s Tax Exemption

June 1, 2021 | Blogs

This article was originally published in Law360 Tax Authority. One company’s garbage is another c...

Transfer Planning With Qualified Small Business Stock

May 21, 2021 | Blogs

During the past several years, there has been a marked increase across the country in the use of C c...

Temporary Relief for Dependent Care Assistance Programs

May 18, 2021 | Blogs

The shutdown of worksites and childcare facilities in 2020 presented many challenges for both employ...

New DOL Rule Withdraws Trump-era Employee v. Independent Contractor Test in Favor of Historic Seven-...

May 14, 2021 | Blogs

On May 6, 2021, the U.S. Department of Labor (DOL) issued a final rule that withdraws a Trump-era ap...

Privacy and Data Security Weekly Update
“A Long Time Comin’”: The DOL issues Cybersecurity Guidance | Fiduciary Focus Series

May 12, 2021 | Blogs

On April 14, 2021, the U.S. Department of Labor (DOL) issued guidance on cybersecurity for employee ...

Federal Government to Make Contributions to Union Pension Plans (and other Pension Provisions in the...

May 11, 2021 | Blogs

The American Rescue Plan Act of 2021 (ARPA) was enacted on March 11, 2021. Among its many provisions...

DOL Issues Model COBRA Notices Related to Premium Subsidies and Extended Election Period Required by...

May 3, 2021 | Blogs

The Department of Labor (DOL) recently issued four model notices that employers can use to provide t...

Kentucky DOR Provides Guidance for Taxation of Solar Energy Equipment

April 30, 2021 | Blogs

While the development of solar and alternative energy continues to grow in the United States, with i...

Signed document and notary
When and Where Can I Sign My Will With “Remote Witnessing”? [Estate Planning Lessons Learned Fro...

April 16, 2021 | Blogs

Beginning in March 2020, pandemic-driven lockdowns, home quarantines, and general isolation made it ...

New IRS Private Letter Ruling Helps Define the Scope of Proscribed Excluded Activities Under Section...

April 15, 2021 | Blogs

During the past several years, there has been a marked increase across the country in the use of C c...

Tax Bills Passed During 2021 West Virginia Legislative Session

April 13, 2021 | Blogs

The most discussed issue during West Virginia’s 2021 legislative session was the proposed repeal o...

Ohio Tax Talk: Ensuring A Nonprofit’s Property Tax Exemption

April 9, 2021 | Blogs

Like the federal government and other states, Ohio grants nonprofit organizations the benefit of cer...

Change Please: A Tax Practitioner’s Guide to F Reorganizations

April 5, 2021 | Blogs

The choice of entity decision is a critical step in every company’s life cycle. At its onset, a bu...

IRS Announcement 2021-7: PPE as Qualified Medical Expense

April 1, 2021 | Blogs

In Announcement 2021-7 issued on March 26, 2021, the IRS announced that amounts paid for personal pr...

Kentucky Poised To Be National Cryptomining Leader With New Tax Legislation

March 29, 2021 | Blogs

Kentucky has long been considered a national leader in the manufacturing industry given its low cost...

Exploring the Benefits of the Corporate Freeze Transaction

March 24, 2021 | Blogs

Synopsis The distribution of a C corporation’s assets to its shareholders often triggers a hea...

West Virginia State Laws
West Virginia Governor’s Proposed Personal Income Tax Reduction

March 17, 2021 | Blogs

In his 2021 State of the State Address, West Virginia Governor Jim Justice proposed a repeal of the ...

Kentucky Tax Talk: Important Bills To Watch This Session

March 17, 2021 | Blogs

With a shorter than usual legislative session, an outstanding budget for the 2022 fiscal year, and s...

How Section 1202’s $50 Million Aggregate Gross Assets Limitation Works

March 17, 2021 | Blogs

During the past several years, there has been a marked increase across the country in the use of C c...

IRS Finalizes Its Section 1061 Carried Interest Regulations

March 10, 2021 | Blogs

On January 13, 2021, the IRS posted final Treasury Regulations for Section 1061 of the Internal Reve...

Dealing With Section 1061’s Three Year Holding Period Requirement for Carried Interests

March 10, 2021 | Blogs

Hedge fund, private equity and real estate professionals are often compensated through the grant of ...

New Mandatory Electronic Filing in Kentucky – Benefit or Burden?

March 5, 2021 | Blogs

In the wake of the COVID-19 pandemic, many businesses and government agencies have made changes to a...

Can Convertible Debt or SAFEs Qualify as QSBS for Section 1202’s Gain Exclusion?

February 22, 2021 | Blogs

Only the issuance of “stock” triggers the running of Section 1202’s five-year hold...

Equity Rollovers in M&A Transactions Involving Section 1202 Qualified Small Business Stock (QSB...

February 19, 2021 | Blogs

Many M&A transactions are structured to include a rollover of some percentage of the target comp...

Employer Receives a Multiemployer (Union) Pension Plan Withdrawal Liability Assessment – What ...

February 12, 2021 | Blogs

This blog post summarizes the steps an employer must take if it wants to appeal an assessment of wit...

“You’re Gonna Miss Me When I’m Gone:” Missing Participants – Employer Reti...

February 11, 2021 | Blogs

Pension plan and 401(k) plan fiduciaries, including employers who are the plan administrators under ...

Ohio Tax Talk: Don’t Miss the Ohio Business Income Deduction

February 11, 2021 | Blogs

It’s that special time of year again, tax season. When it comes to filing income taxes, many taxpa...

Ransomware and Bitcoin – Tax Troubles?

February 10, 2021 | Blogs

Published reports suggest that many businesses, including HBO, Xerox, Garmin, ExecuPharm and several...

Best Practices for Fiduciary Review of ESOP Valuations

February 4, 2021 | Publications

The valuation of a private company’s stock is central to the operation of an employee stock owners...

New Year, New Rules: A Look at Recent and Critical Tax Changes for Nonprofits and IRS Enforcement Pr...

February 4, 2021 | Blogs

To say that 2020 was a year that brought about many changes would be an understatement, and many pan...

Private Equity
Rollover Equity Transactions 2021

January 28, 2021 | Blogs

During the 21st century, financial buyers such as private equity sponsors (PE firms) have dramatical...

Advanced Notice – COVID-Related Revenue Losses Further Incentivize States to Roll Out New Transfer...

January 28, 2021 | Blogs

Given the projected loss in tax revenue in 2020, and beyond, due to the COVID-19 pandemic, states ar...

Dealing With the Rollover of the Management Team’s Equity and Equity Rights in a Sale Transact...

January 27, 2021 | Blogs

A typical part of the sale of a business is the rollover of some equity by the target company’...

Not COVID Friendly – Kentucky Disallowing Deductions for Expenses Covered by PPP Loans

January 22, 2021 | Blogs

When the federal government released its Paycheck Protection Program (PPP) in March 2020 as a part o...

Ohio Rolls Out the Transformational Mixed Use Development Insurance Premium Tax Credit

January 19, 2021 | Publications

On December 29, 2020, Ohio Governor Mike DeWine signed Senate Bill 39, creating a new tax credit app...

Employee Retention Tax Credit Expanded and Extended by New COVID-19 Stimulus: Does Your Business Qua...

January 15, 2021 | Blogs

The Coronavirus Aid, Relief and Economic Security (CARES Act), signed into law on March 27, establis...

The Ultimate Destination Rule – Keeping Ohio’s CAT in Check

January 15, 2021 | Blogs

Imagine that you are the chief financial officer of an aftermarket automotive parts company named Su...

What’s in the Longest Bill Congress Has Ever Passed? Employee Benefits Provisions in the Consolid...

January 13, 2021 | Blogs

At 5,593 pages, the Consolidated Appropriations Act, 2021 (“Act”) is the longest bill ever passe...

An Outlier? Kentucky DOR’s Trust Nexus Positions

January 11, 2021 | Blogs

Recently, Bloomberg Tax & Accounting released its 2020 Trust Nexus Survey gathering states’ va...

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Transparency Enters A New Stage – Defense Act Anti-Laundering Provisions Now in Place

January 5, 2021 | Blogs

President Trump’s recent veto and the subsequent override aside, the National Defense Authorizatio...

Tax Considerations for Employee Equity Incentive Compensation

January 4, 2021 | Blogs

For companies seeking to attract and retain key employees, there often comes a time when discussions...

Kentucky Tax Talk: What’s On Next Year’s Legislative Agenda

December 22, 2020 | Blogs

State legislatures, like the rest of us, could never have predicted how 2020 would unfold. Kentucky ...

Ohio Tax Talk: Taxpayer Protection Lessons from the Defender Security Decision

December 3, 2020 | Blogs

On Sept. 29, the Supreme Court of Ohio released its decision in Defender Security Co. v. McClain[1] ...

Supreme Court Hears Oral Arguments on Latest ACA Case

November 30, 2020 | Blogs

On November 10, 2020, the U.S. Supreme Court heard oral arguments (via teleconference) on the latest...

West Virginia Supreme Court Decision Presents Sales Tax Refund Opportunities for Natural Resources C...

November 19, 2020 | Blogs

In Antero Resources Corporation v. Dale W. Steager, State Tax Commissioner of West Virginia, Case No...

Sun Capital Won This One, But Pension Plan Withdrawal Liability Still Presents a “Risky Gambit” ...

November 18, 2020 | Blogs

A federal district court recently called investments in private companies that participate in a mult...

“Tax Attributes” that Protect from Income Taxes as “Property”

November 13, 2020 | Blogs

Many small businesses are structured as pass-through entities for federal income tax purposes.[1] We...

Section 1202 Tax Planning: Avoid Losing the Gain Exclusion!

October 26, 2020 | Blogs

Beware of Mixing Section 1202’s Version of Oil and Water – S Corporations and QSBS Our Section 1...

Kentucky Tax Talk: What Appeals Board Reinstatement Means

October 21, 2020 | Blogs

This article was originally published in Law360 Tax Authority. On Aug. 31, Kentucky Gov. Andy Beshe...

2020: A Year of Uncertainty Resulting in an Ideal Time for Year-End Gifting

October 16, 2020 | Blogs

End of Year Landscape As we approach the end of 2020, several factors in this historic year signal a...

IRS Provides Guidance on Long-Term, Part-Time Employees in 401(k) Plans, Qualified Birth and Adoptio...

October 2, 2020 | Blogs

In Notice 2020-68 (Notice), the Internal Revenue Service (IRS) provided guidance on several provisio...

IRS Updates Retirement Plan Tax Notice for Participants

September 25, 2020 | Blogs

The IRS recently updated the tax notice, “Your Rollover Options,” which 401(k) and other qualifi...

Ohio Tax Talk: Structuring And Defending Drop-Down LLCs

September 21, 2020 | Blogs

This article was originally published in Law360 Tax Authority. The drop-down LLC transaction has be...

Power Play – Emergence of Solar and Other Advancements in Energy Technologies May Light Up Old...

September 18, 2020 | Blogs

Every state provides several state and local tax exemptions, credits, abatements and incentives for ...

Section 1202 and S Corporations

September 18, 2020 | Blogs

With the corporate tax rate reduced from 35% to 21%, we have experienced a heightened awareness that...

What Was Old is New Again: Executive Order Reinstates Kentucky Board of Tax Appeals and Potential Bo...

September 4, 2020 | Blogs

On August 31, 2020, Governor Andy Beshear signed an Executive Order to restructure the Public Protec...

IRS Issues Payroll Tax Deferral Guidance to Clarify Employer Obligations

September 2, 2020 | Blogs

The Department of Treasury recently released guidance, Notice 2020-65, to clarify President Trump’...

Ohio Tax Talk: Rethinking The Work-From-Home Tax

August 31, 2020 | Blogs

Now more than ever, companies and organizations are evolving to allow employees to work from home. S...

Kentucky Tax Talk: Companies May Have To Foot Unemployment Bill

August 27, 2020 | Blogs

This article was originally published in Law360 Tax Authority. Since Gov. Andy Beshear’s decl...

Lions, Tigers, Bears and CARES – Retirement Plan Compliance

August 20, 2020 | Blogs

The IRS has now answered many of the new questions raised after the Coronavirus Aid, Relief, and Eco...

Indiana DOR Stays Active With Guidance and Initiatives During Pandemic

August 14, 2020 | Blogs

Many areas of life have slowed down, and in some cases come to a complete halt, because of the COVID...

IRS Provides Guidance on 2020 Waiver of Retirement Plan Required Minimum Distributions

August 13, 2020 | Blogs

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a relief package in response to ...

Piggy bank overflowing with money
Need to Change Safe Harbor Contributions in Your Safe Harbor 401(k) Plan During 2020? Timing is Ever...

August 13, 2020 | Blogs

As employers look for ways to reduce expenses or address cash flow issues, many are considering a re...

Business Work Environment
IRS Allows Employees to Donate Paid Leave to Charity in 2020

August 11, 2020 | Blogs

In Notice 2020-46 (the “Notice”), the Internal Revenue Service (IRS) created a new avenue for em...

Dissecting Section 1202’s “Active Business” and “Qualified Trade or Business...

August 5, 2020 | Blogs

With the corporate federal income tax rate reduced from 35% to 21%, there is a renewed interest in c...

DOL Reinstates Five-Part Test for Fiduciary Investment Advice | Fiduciary Focus Series

August 3, 2020 | Blogs

On June 29, 2020, the U.S. Department of Labor (DOL) proposed a new prohibited transaction exemption...

Department of Labor Guidance Opens New Opportunities for Participant-Directed Investment in Private ...

July 22, 2020 | Blogs

In a recent Information Letter (the “Letter”), the Department of Labor (DOL) clarified that defi...

Uncover the Benefits
Eight Reasons to Have an Investment Policy Statement for Your Retirement Plan | Fiduciary Focus Seri...

July 21, 2020 | Blogs

A plan investment policy statement (IPS) is a written statement intended to provide a plan’s inves...

New Proposed Rule Provides Flexibility For Grandfathered Group Health Plans

July 20, 2020 | Blogs

The Trump administration has just issued a new proposed rule which, if finalized, will provide great...

Congress Considers Additional Support for Tax-Exempt Issuers and State and Local Infrastructure Proj...

July 16, 2020 | Blogs

Two bills from the House of Representatives (H.R.2, the Moving Forward Act, and H.R.3967, the Munici...

Affordable Care Act Tax Refund Claim Looming

July 10, 2020 | Blogs

Since its inception, the Affordable Care Act (ACA), also known as Obamacare, has been challenged for...

Making the Most on the Sale of Your Business – An Owner’s Tax Considerations on Earnouts

June 29, 2020 | Blogs

As the economy starts to open, sellers of businesses are uniquely positioned to potentially capture ...

How Turbulent Times Might Impact Executive Contracts and Compensation

June 24, 2020 | Coronavirus Response Team

Executive employment contracts and compensation have been more heavily scrutinized for the last coup...

Technology, Data Privacy Concept
Opportunity Zone Rule Changes Due to COVID-19

June 22, 2020 | Blogs

In response to the ongoing COVID-19 pandemic, the Internal Revenue Service (“IRS”) recently issu...

Kentucky Tax Talk: Pandemic Raises Telecommuting Issues

June 22, 2020 | Blogs

This article was originally published in Law360 Tax Authority. All employers, whether private corpor...

Stack of papers in front of computer
Don’t Leave Eligible FFCRA Tax Credits on the Table

June 12, 2020 | Coronavirus Response Team

Proper Calculation of Qualified Health Plan Expenses Eligible for Sick and Family Medical Leave Tax ...

Not Registered in All States You Operate – What’s the Big Deal? Sometimes it Can Be.

June 2, 2020 | Blogs

This article was originally published in Thomson Reuters Journal of Multistate Taxation and Incentiv...

Ohio Tax Talk: Unemployment Ruling May Offer M&A Savings

June 2, 2020 | Blogs

As with many things in life and business, timing is important. The same was true with regards to the...

Tax Implications of COVID-19 Telecommuting in Kentucky and its Border States

June 1, 2020 | Coronavirus Response Team

As states continue to enforce and extend stay-at-home executive orders, and many businesses opt to a...

IRS Provides 125 Plan and Flexible Spending Account Relief in Response to COVID-19

May 27, 2020 | Blogs

The Internal Revenue Service (IRS) released Notices 2020-29 and 2020-33 (Notices) on May 12, 2020. T...

Recapitalizations Involving Qualified Small Business Stock

May 19, 2020 | Blogs

Navigating through recapitalizations, reorganizations, stock splits, reverse stock splits, tax free ...

An Introduction to the Use of Blocker Corporations in M&A Transactions

May 8, 2020 | Blogs

In an earlier article titled “Rollover Equity Transactions 2019,” we discussed the vario...

DOL and IRS issue COVID-19 Benefit Plan Rules, COBRA Deadline Extensions and Updated Model COBRA For...

May 7, 2020 | Blogs

Employers, insurers and benefit plan vendors are all impacted by new guidance issued by the Departme...

Can Your Business Deduct Business Expenses Covered by a PPP Loan?

May 1, 2020 | Coronavirus Response Team

While the Paycheck Protection Program (PPP) created by the federal CARES Act in response to the COVI...

IRS Extends Deadlines for Plan Restatements

April 30, 2020 | Blogs

Due to the coronavirus pandemic, the Internal Revenue Service extended the restatement deadlines for...

Kentucky Tax Talk: Budget Focuses on Pandemic Relief

April 29, 2020 | Blogs

The commonwealth’s primary concerns have drastically changed since the start of the 2020 General A...

Strategic Estate Planning Opportunities in a Low Interest Rate Environment

April 21, 2020 | Blogs

“When written in Chinese, the word crisis is composed of two characters – one represents danger ...

CARES Act for Midsize to Large Businesses | Webinar

April 20, 2020 | Blogs

While the CARES Act offers significant benefits to business owners in hard-hit industries, this comp...

CARES Act for Small Businesses | Webinar

April 20, 2020 | Blogs

While the CARES Act offers significant benefits to business owners in hard-hit industries, this comp...

Wait, They Can Do That? The Perils of Policy Changes by Departments of Revenue

April 16, 2020 | Blogs

Authority and Role of Department of Revenue’s Interpretation of the Law One of the basic rules you...

IRS issues FAQ on Deferring Employment Tax Deposits

April 16, 2020 | Blogs

The Coronavirus Aide, Relief and Economic Security Act (CARES Act) provides businesses with various ...

The CARES Act and the SECURE Act – Changes to RMDs from Retirement Accounts

April 14, 2020 | Blogs

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a sweeping third-wave relief pac...

IRS Announces Delay of Key Tax Deadlines in Response to COVID-19 Disruption

April 13, 2020 | Blogs

As U.S. taxpayers grapple with impacts of the COVID-19 disruption, Congress continues to offer relie...

Tennessee Relaxes Formalities of Will Execution

April 10, 2020 | Coronavirus Response Team

Tennessee has joined the ranks of states allowing remote witnessing and notarization of wills and ot...

Employers Can Provide Tax-Free Assistance to Employees Impacted by COVID-19

April 8, 2020 | Blogs

Code section 139 excludes from taxable income “qualified disaster relief payments” made to reimb...

Tax Relief to Combat COVID-19: Don’t exclude your business from relief by choosing the wrong progr...

April 8, 2020 | Blogs

The Families First Coronavirus Response Act (FFCRA) and Coronavirus Aid, Relief and Economic Securit...

Kentucky Legislature Suspends In-Person Witnessing and Notarization Requirement for Estate Documents

April 7, 2020 | Blogs

In the wake of the recent global pandemic, many clients have reached out to the Frost Brown Todd tax...

Don’t Sleep On Your Tax Refund Claims During The Coronavirus Disruption

April 3, 2020 | Blogs

In the wake of the coronavirus disruption, taxing authorities across the United States are adjusting...

Employee Benefit Plan Changes Under CARES Act

April 1, 2020 | Coronavirus Response Team

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a sweeping third-wave relief pac...

Your Business, Taxes and the Families First Coronavirus Response Act

April 1, 2020 | Blogs

On March 18, 2020, the president signed the Families First Coronavirus Response Act (H.R. 6201, the ...

The Cares Act: The Affiliation Rules and How They Impact Eligibility Under the Paycheck Protection P...

March 31, 2020 | Blogs

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a sweeping third-wave relief pac...

Now That I Can Say “I Do,” Do I? Prenuptial Agreements and Marriage Equality

March 27, 2020 | Blogs

When a married individual dies, every state has laws granting certain rights to the decedent’s sur...

Kentucky General Assembly Passes Emergency COVID-19 Relief Bill

March 27, 2020 | Blogs

Following the U.S. Senate’s approval of the CARES Act granting federal aid in response to the COVI...

COVID-19 Impacts Open Meetings, Tax Collection, and Limitations Periods in Ohio

March 27, 2020 | Blogs

The sweeping changes brought about by Ohio’s Novel Coronavirus Response Bill will directly affect ...

CARES Act Aims to Help Health Sector and Stabilize Economy

March 27, 2020 | Blogs

The House gave final passage to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)....

The CARES Act: Tax and Financial Relief for Businesses

March 27, 2020 | Blogs

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a sweeping third-wave relief pac...

Expanded Unemployment Assistance Under the CARES Act

March 27, 2020 | Blogs

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a sweeping third-wave relief pac...

COVID-19 Job Losses – Are Your Incentive Awards at Risk?

March 25, 2020 | Coronavirus Response Team

As businesses continue to grapple with how to best navigate the economic climate following the COVID...

Beware Risks Of Delaying Tax Payments

March 25, 2020 | Blogs

As the coronavirus or COVID-19 outbreak has impacted almost every part of American business, many ow...

Safe Harbor 401(k) Plans: Changes in the Face of Financial Uncertainty | Fiduciary Focus Series

March 24, 2020 | Coronavirus Response Team

This alert focuses on whether, in the throes of the COVID-19 pandemic, plan sponsors can amend their...

Are your Advance Care Directives Up to Date in the Era of COVID-19? Seven Questions to Ask Yourself

March 23, 2020 | Coronavirus Response Team

With the turmoil and uncertainty surrounding the COVID-19 outbreak in the United States, it is impor...

Unemployment Insurance Rules Revised to Accommodate Employers and Employees Affected by COVID-19

March 23, 2020 | Coronavirus Response Team

As the COVID-19 pandemic continues, employers of all sizes are making difficult decisions about th...

IRS Tax forms
States Providing Filing Relief Against COVID-19 Impacts

March 23, 2020 | Coronavirus Response Team

While COVID-19 continues to cause panic across the United States, the federal government is not the ...

Doctors Medical Technology
Un-retired: Solutions to Healthcare Worker Shortage

March 18, 2020 | Coronavirus Response Team

While many employers are closing their doors to stem the spread of the COVID-19 virus, other employe...

Technology, Data Privacy Concept
Working Remotely: Can It Impact Your State and Local Tax Compliance?

March 18, 2020 | Coronavirus Response Team

As COVID-19 continues on, more and more businesses and employers are either authorizing or requiring...

COVID-19 Tax Impact Changes

March 17, 2020 | Coronavirus Response Team

As the coronavirus pandemic evolves, the Federal Government is continuing to offer relief that will ...

Top Compliance Issues Currently Facing Employee Benefit Plans

March 17, 2020 | Coronavirus Response Team

Compliance concerns related to the Health Insurance Portability and Accountability Act (HIPAA), the ...

Even Taxes Are Hit by COVID-19

March 13, 2020 | Coronavirus Response Team

As the country is hit with a wave of event cancellations, school closures, and work-from-home direct...

Tax-Exempt Organization Update: Some Headaches Cured, While Others Linger

March 10, 2020 | Blogs

As part of the Tax Cuts and Jobs Act of 2017 (“2017 Tax Act”), Congress created several headache...

Using Qualified Disaster Relief and Employer-Assisted Charities to Aid Employees Impacted by Financi...

March 2, 2020 | Coronavirus Response Team

Employers are in search of ways to help employees who have been severely and unexpectedly impacted i...

The Secure Act Makes Trust Planning for Retirement Benefits Less Secure

February 28, 2020 | Blogs

On December 20, 2019, the Setting Every Community Up for Retirement Enhancement Act of 2019 (the SEC...

Will 2020 be the year of clean-up tax legislation, and crack-down enforcement in Kentucky?

February 21, 2020 | Blogs

Following the November Kentucky gubernatorial election, and the start of a new administration, the n...

Private Equity and Venture Capital Fund Investment in Qualified Small Business Stock (QSBS) – A Gu...

February 17, 2020 | Blogs

This article is a guide for investors and fund sponsors who purchase, own and sell qualified small b...

SECURE Act Part II: Affordable Care Act, MEPs, and Tax Incentives

February 4, 2020 | Blogs

When the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) became law o...

Checklist for Non-Cash Property Distributions from a Partnership

January 31, 2020 | Blogs

Should an owner conduct business in an entity taxed as a partnership or a corporation is a frequentl...

Taking Advantage of Ohio’s Sustainability Incentives

January 22, 2020 | Blogs

Now more than ever, businesses are focused on their environmental impact and sustainability goals. T...

Advanced Section 1045 Planning

January 17, 2020 | Blogs

This article is one of a series addressing planning issues relating to qualified small business stoc...

Required and Optional Retirement Plan Changes under the SECURE Act

January 10, 2020 | Blogs

As part of the bill funding the federal government through next September, the Setting Every Communi...

Sixth Circuit Rules in Chapter 11 Reorganizations

January 6, 2020 | Blogs

A divided Sixth Circuit Court of Appeals panel ruled in the case of In re FirstEnergy Solutions Cor...

IRS Tax forms
Important Equity Compensation Reporting and Compliance Reminders

January 6, 2020 | Publications

Employers are required to annually report to the IRS all Incentive Stock Option (ISO) exercises and ...

A New Governor’s New Tax Ideas

December 20, 2019 | Blogs

In our October article, we discussed the 2019 Kentucky gubernatorial candidates’ respective plans ...

"1040 Form, IRS Tax Audit"
Three Tax Exemption Takeaways In Contractor Case

December 19, 2019 | Blogs

A recent Ohio Ninth District Court of Appeals’ decision in Karvo Paving Co. v. Testa[1] addressed ...

Advanced Planning for Section 1061’s Three-Year Capital Gains Holding Period of Carried Intere...

November 21, 2019 | Blogs

Revisiting Holding the Carried Interest Through an S Corporation Eighteen months ago, we published a...

Piggy bank overflowing with money
In 2020 You Can Contribute More to Your 401(k) Plan

November 12, 2019 | Blogs

401(k) Limits Increased for 2020 On November 6, 2019, the Internal Revenue Service issued the cost o...

Section 1202 Qualification Checklist and Planning Pointers

November 1, 2019 | Blogs

A basic checklist of qualification requirements to help business owners and tax professionals consid...

DOL Attempts to Modernize its Electronic Disclosure Rules with New Proposed Safe Harbor

October 31, 2019 | Blogs

On October 23, 2019, the Department of Labor (DOL) published a proposed rule outlining a new safe ha...

Protecting Kentucky Taxpayer Rights Is Trending

October 30, 2019 | Blogs

Introduction Tax legislation enacted this Spring and last in Kentucky is but the latest enhancement ...

IRS Finalizes Regulations on 401(k) Plan Hardship Withdrawals

October 23, 2019 | Blogs

On September 23, 2019, the IRS issued final regulations regarding hardship withdrawals from 401(k) P...

Taxes and the Kentucky Gubernatorial Race

October 23, 2019 | Blogs

Last year was the year of significant tax reform in Kentucky, and 2019 is the year of clean-up (with...

You Down with CBD? Yea You Know Me – States Look to Incentivize and Tax Growing Hemp Industry

October 2, 2019 | Blogs

Planting the Seed – How the Hemp Industry Began to Bloom Few products have ever taken the market b...

Do Not Pass Go. Do Collect $200 – States Quickly Adding Marketplace Facilitator Collection Require...

October 1, 2019 | Blogs

A lot has changed in the state and local tax world after the 2018 Wayfair[1] decision which finally ...