People in Tax

At Court

Practice Points

Taxation

Recent Developments Affecting Qualified and Nonqualified Deferred Compensation, Part II: The New Department of Labor Fiduciary Rule

As of June 30, 2016, total U.S. retirement plan assets were $24.5 trillion, more than twice the $11.6 trillion reported for 2000. That is a very large amount of money—significantly larger than the GDP of the United States or China. The largest single component of retirement plan assets is held in IRAs, considerably more than those held in 401(k) plans. In addition to these tax-favored retirement savings, many employers make additional “nonqualified” deferred compensation available to their high-level employees.

Opinion Point

Taxation

Time to Change the Casualty Loss Deduction

Eight of the ten most costly disasters in U.S. history have happened in the last 15 years. Some of these—especially 9/11 and Hurricane Katrina—triggered unprecedented tax relief for casualty losses. Others, such as Hurricane Sandy, led to no additional tax relief whatsoever. The increased likelihood of all casualties, coupled with the escalating costs of major disasters, makes reconsideration of the tax treatment of casualty losses a timely and important issue.

Pro Bono Matters

Paths in Tax

Taxation

C. David Anderson on Stress in Tax Practice

This edition of Paths in Tax changes course slightly to address a topic of perennial, albeit muted, concern within the tax bar—emotional health and anxiety management. Our featured member, solo practitioner C. David Anderson, articulates our collective challenge in a new way. He then provides useful advice to mitigate damage that may be done to emotional health in the course of practicing our chosen profession.

In the Stacks

Young Lawyers Corner

Tax Bits

Section News

Announcements

Events & Promotions

Sponsor Acknowledgements

About ABA Tax Times

ABA Tax Times (ISSN 2381-5868) (formerly the NewsQuarterly) reports on developments pertaining to taxation, Tax Section news and meeting updates, and other information of professional interest to Tax Section members and other readers. Questions regarding ABA Tax Times can be sent to: taxweb@americanbar.org.

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