Tax

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Senate Finance Committee Proposals Would Impact Deferred Compensation

On January 17, the Senate Finance Committee unanimously approved the Small Business and Work Opportunity Act of 2007 (the "Act"). The Act includes a number of tax breaks for small businesses in connection with the proposed increase in the minimum wage.

Client Alert | January 18, 2007

2006 Employee Benefits Deadlines Require Immediate Attention

As another year comes to a close, employers must take a number of actions to (i) address Section 409A of the Internal Revenue Code, (ii) amend their tax-qualified retirement plans to reflect certain rules that became effective in 2006, and (iii) begin operating their plans in compliance with new rules that become effective on January 1, 2007.

Client Alert | December 7, 2006

Real Estate Private Equity – Taxation for Foreign Investors

Munich partner Hans Martin Schmid and of counsel Christian Schmidt are the authors of "Real Estate Private Equity - Taxation for Foreign Investors" [PDF] published in the 2006 Private Equity Financial Yearbook.

Client Alert | December 1, 2006

IRS Extends Section 409A Transition Relief Through December 31, 2007

On October 4, the IRS issued long-expected guidance extending the transition relief under Section 409A of the Internal Revenue Code (the "Code"). As described below, subject to an exception for certain "in the money" stock options granted to Section 16 officers and directors of publicly-traded companies, Notice 2006-79 generally extends the key transition rules through December 31, 2007.Effective Date/Good Faith Reliance.

Client Alert | October 5, 2006

Major Pension Legislation Enacted

The Congress has passed major pension legislation, the "Pension Protection Act of 2006" (the "Act"), which President Bush has promised to sign into law.  We describe below some of the most important changes the Act makes and attach a detailed chart [PDF] summarizing many of the key benefits provisions of the Act.  In addition, a Gibson Dunn update is available on certain changes affecting investment funds.Funding of Defined Benefit Plans.  The Act significantly changes the defined benefit plan funding rules, generally effective for plan years beginning in 2008.  Plan sponsors may want to discuss these changes with their actuaries and consider whether additional contributions should be made before 2008.  In particular, plans that are “at risk

Client Alert | August 8, 2006

Delaware im Wettstreit mit Luxemburg

Munich Partner Jeffrey M. Trinklein and Associate Christian Schmidt are the authors of "Delaware im Wettstreit mit Luxemburg" [PDF in German] in the February 1, 2006 issue of the newspaper Börsen-Zeitung.

Article | February 1, 2006