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According to a recent report, the average student loan debt for a Class of 2016 graduate is $37,172. As recent graduates enter the work force, they often choose not to contribute to their employers’ 401(k) plans and lose out on corresponding employer match because they prefer to focus on paying off their student loans or simply can’t afford to pay off loans and put away money for retirement at the same time. In turn, those…
As you probably know, both the House and Senate have passed tax reform bills. Whether the two bills will be able to be harmonized and passed into law remains to be seen. Both bills include changes that will have a significant impact on a public company’s ability to deduct compensation paid to top executives in years 2018 and beyond, as described below.…
It’s official. The IRS has finally begun the process of collecting penalties under the Affordable Care Act’s (ACA) employer shared responsibility provisions, better known as the employer mandate.  The IRS has started mailing out letters to employers that potentially owe an employer shared responsibility payment (ESRP) for the 2015 calendar year.  These letters follow the format of the IRS’s recently released template letter, Letter 226-J. The letter outlines the IRS’s preliminary calculation of the…