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Repeal of Unrelated Business Income Tax on Qualified Transportation Fringe Benefits

Late on Friday, December 20, 2019, President Trump signed into law government funding legislation for the 2020 fiscal year that includes a provision repealing Section 512(a)(7), commonly referred to as the “parking tax.”...By: Proskauer - Not for Profit/Exempt
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Delaware Reaffirms High Bar for Establishing a Material Adverse Effect

In the first case following Akorn v. Fresenius to rule on a party’s entitlement to terminate a merger agreement on the basis of a material adverse effect (MAE), the Delaware Court of Chancery ordered Boston Scientific Corporation to complete its $275...By: Fenwick & West LLP
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Fenwick & West LLP | Dec 25,2019 |

New Year, New Worker Protections: Preparing for SB 5258

Beginning January 1, 2020, Washington employers in industries including hospitality, retail, security, and contracted property services will need to comply with a new law amending the Washington Law Against Discrimination (WLAD)....By: Perkins Coie
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Perkins Coie | Dec 25,2019 |

The Saga Continues – Fifth Circuit Affirms ACA Individual Mandate’s Unconstitutionality; Remands for Further Consideration

Roughly a year ago, we reported on a district court judge’s determination that the Affordable Care Act’s (“ACA”) individual mandate was unconstitutional and that, therefore, the entire ACA was invalid. A detailed summary of the district court’s...By: Proskauer - Employee Benefits & Executive
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New IRS Guidance for Tax-Exempt Entities Funding Employee Benefits

The IRS recently released a final regulation clarifying how voluntary employees’ beneficiary associations (VEBAs) and supplemental unemployment benefit trusts (SUBs) should calculate unrelated business taxable income. VEBAs and SUBs are tax-exempt...By: Proskauer - Employee Benefits & Executive
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Repeal of Cadillac Tax, increase of RMD age included in end-of-year federal spending bill

Last Friday night, President Trump signed into law a year-end $1.4 trillion spending bill that will fund the government through September 30, 2020. Included in the bill were a number of provisions that impact employer-sponsored medical and retirement...By: McAfee & Taft
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McAfee & Taft | Dec 24,2019 |

NLRB overturns trio of Obama-era board decisions

In a series of 3-1 decisions issued on December 16, 2019, the National Labor Relations Board (NLRB) overturned significant Obama-era precedents related to confidentiality rules for workplace investigations, employees’ use of company email accounts...By: Thompson Coburn LLP
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Thompson Coburn LLP | Dec 24,2019 |

2019: A Very Busy Year For New Jersey Employers

As 2019 comes to an end, it’s time to take a breather from another very busy year. New Jersey continued it’s push as one of the country’s most employee-friendly states, with a number of new laws and amendments to existing laws......By: Norris McLaughlin, P.A.
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Norris McLaughlin, P.A. | Dec 24,2019 |

NLRB Board Scales Back Rules for Fast-Tracking Union Representation Elections

The National Labor Relations Board announced a number of changes to its representation election rules on December 13, 2019, many of which, to some degree or another, restored elements of the Board’s procedures prior to the 2014 overhaul of these...By: Perkins Coie
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Perkins Coie | Dec 24,2019 |

Goodbye to 2019 … and the Parking and Public Transit Benefits Tax

Good news to close out the year: The “Further Consolidated Appropriations Act, 2020” (H.R. 1865 - the “2020 Act”) retroactively repeals the much maligned tax on qualified transportation fringe benefits (the so-called “church tax” or “parking tax”)....By: Seyfarth Shaw LLP
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Seyfarth Shaw LLP | Dec 24,2019 |
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