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UPDATES&INSIGHTS: TAX – October 2018

UPDATES&INSIGHTS:TAX is a HoganTaylor Tax practice publication designed to help you keep up with the latest tax issues impacting your organization.

In this issue, you will learn about the increased scrutiny of defined benefit plans, estate planning tips for the “Sandwich Generation,” rules related to nonqualified deferred compensation plans, and recent changes to the home mortgage interest deduction.

In This Issue:

Department of Labor has Increased Scrutiny of Defined Benefit Plans

Sponsors of defined benefit plans — commonly known as pensions — might be facing tighter scrutiny from the DOL. Just last year, the agency’s Employee Benefits Security Administration ramped up pension audits in its Philadelphia office and later decided to do so elsewhere. This article highlights what the DOL is focusing on in its audits. Read More

Are You a Member of the Sandwich Generation?

The “Sandwich Generation” consists of those individuals who are currently taking care of their children and their elderly parents. This article covers some critical steps to take when incorporating an elderly parent’s needs into an adult child’s estate plan. Read More

Avoid Penalties by Abiding by the NQDC Tax Rules

Nonqualified deferred compensation plans pay executives at some time in the future for services currently performed. Of course, in the hectic course of the average exec’s schedule, keeping up with the details isn’t always easy. This article explains what execs and employers should know. Read More

Catching Up with the Home Mortgage Interest Deduction

Among the biggest tax perks of buying a home is the ability to deduct mortgage interest payments. But this deduction has undergone some changes recently, so taxpayers may need to do some catching up. This brief article explains how the tax break has changed. Read More