IRA Qualified Charitable Distribution

Individuals must take annual required minimum distributions (RMDs) out of their IRAs when they reach age 73 or older (this starting age will increase to 75 in future years). For some taxpayers, the RMDs will push them into a higher tax bracket and cause them to be taxed at a higher rate. However, individuals aged…

When Filing Taxes – Time Zone Matters

Don’t wait till the last minute. Minutes matter. The United States Tax Court recently ruled1 that electronically filed documents are considered filed when received. That timeliness is determined by reference to the eastern time zone in the District of Columbia where the Court is located, not the taxpayers’ location/local time zone. As a result, a…

New Employment Law:  Pregnant Workers Fairness Act

As of June 27, 2023, employers with 15 or more employees must provide pregnancy-related accommodations to employees and applicants under the federal Pregnant Workers Fairness Act (PWFA). Under the PWFA, employees are entitled to accommodations for a condition related to or affected by pregnancy, childbirth, or a related medical condition. The condition can be physical…

Ohio Allows Postnuptial Agreements

As of March 23, 2023, postnuptial agreements are legally valid and enforceable in Ohio. Ohio has long recognized prenuptial agreements, but it had resisted the addition of postnuptial agreements, which were embraced by other states. Much like prenuptial agreements, the postnuptial requires the following minimum standards: (i) agreement in writing and signed by both spouses; (ii)…

Severance Agreements: National Labor Relations Board Reinstates Prohibition on Certain Waivers, Confidentiality, and Non-Disparagement Clauses

On February 21, in McLaren Macomb and Local 40 RN Staff Council, Office, and Professional Employees, International Union (OPEIU), AFL–CIO, The National Labor Relations Board (“NLRB”) overturned its prior decisions in 2020 to announce that its current stance on severance agreement clauses that prohibit employees from making disparaging statements about their former employer in exchange…