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HTMLThe IRS Announces New Retirement Plan Limitations for 2015
Antoinette M. Pilzner, Dale R. Vlasek, John M. Wirtshafter; McDonald Hopkins LLC;
Legal Alert/Article
October 31, 2014, previously published on October 23, 2014
On October 23, 2014, the IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for the Tax Year 2015. Many of the limitations have changed from the limits that are in place for 2014.

 

HTMLMcCarthy Memo Highlights House GOP Agenda
McDonald Hopkins LLC;
Legal Alert/Article
October 31, 2014, previously published on October 24, 2014
This week, House Majority Leader Kevin McCarthy (R-CA) released a memo that highlights some of the House GOP's agenda for 2015.

 

HTMLReading the Tea Leaves on Executive Action on Immigration
McDonald Hopkins LLC;
Legal Alert/Article
October 31, 2014, previously published on October 24, 2014
Some are claiming that recent solicitation by the Citizen and Immigration Service (USCIS) is proof that President Obama is preparing for sweeping executive action on immigration after the November midterm elections.

 

HTMLObama Unlikely to Shake Up Staff after Election
McDonald Hopkins LLC;
Legal Alert/Article
October 31, 2014, previously published on October 24, 2014
Midterm elections, particularly the notorious six-year itch midterms in a President's second term, often lead to losses for the party in control of the White House. It is not surprising then that Presidents often respond to losses in the midterms by shaking up their staff. White House watchers,...

 

HTMLOver/Under: States Set Interest Rates for Under and Over Payments of Taxes for 2015
David M. Kall, Susan Millradt McGlone; McDonald Hopkins LLC;
Legal Alert/Article
October 31, 2014, previously published on October 23, 2014
Michigan’s Department of Treasury issued Revenue Bulletin 2014-16 establishing the annual rate of interest due on underpayments and overpayments for the period beginning on Jan. 1, 2015 and ending on June 30, 2015. A daily interest rate of .0001164, based on an annual adjusted rate of 4.25...

 

HTMLRubio Proposes Visa Ban in Response to Ebola
McDonald Hopkins LLC;
Legal Alert/Article
October 31, 2014, previously published on October 24, 2014
Amid growing panic about the Ebola outbreak in West Africa, Republicans in Congress are shifting away from calling for a blanket travel ban from countries affected by the disease, and moving instead toward wanting to limit visas for people from those countries.

 

HTMLMinnesota: Ranked #7 in Cigarette Excise Tax Rate in 2014 and #14 in Smuggled Cigarettes, Will Increase Cigarette Tax Rates in 2015
David M. Kall, Susan Millradt McGlone; McDonald Hopkins LLC;
Legal Alert/Article
October 31, 2014, previously published on October 23, 2014
Sales and excise taxes are slightly different animals. A sales tax is one that the government imposes at the point of sale on retail goods, like clothing. The retailer collects the tax and passes it on to the state. In contrast, one pays an excise tax on purchases of specific goods, such as...

 

HTMLDon't Make the $1.5 Billion Mistake
Jeffrey S. Grasl, Stephen M. Gross; McDonald Hopkins LLC;
Legal Alert/Article
October 31, 2014, previously published on October 24, 2014
In what is many times considered a ministerial task, the careful preparation and review of UCC-3 termination statements in transactions between debtors and lenders should not be taken lightly. Secured creditors and their professionals would be wise to make sure that the identification of security...

 

HTMLSeveral States Respond to U.S. Supreme Court Decision on Same-Sex Marriage
David M. Kall, Susan Millradt McGlone; McDonald Hopkins LLC;
Legal Alert/Article
October 31, 2014, previously published on October 23, 2014
On June 26, 2013, in U.S. v. Windsor, the United States Supreme Court ruled that the Defense of Marriage Act, which defined marriage as between one man and one woman, was unconstitutional. This was significant for tax purposes because the subsequent Internal Revenue Service Revenue Bulletin...

 

HTMLGM Weighs In On Net Neutrality
McDonald Hopkins LLC;
Legal Alert/Article
October 23, 2014, previously published on October 17, 2014
Cell phone carriers got a surprising new ally this week in their fight against stricter net-neutrality laws: General Motors (GM). The car company sent a letter to the Federal Communications Commission earlier this month urging the agency not to impose tough rules on wireless Internet service....

 


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