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Attorney Chaya Kundra Speaking at Two Upcoming Employment Tax Events

On Behalf of | Jan 18, 2023 | Blog |

Tax attorney Chaya Kundra will co-chair and speaker at the following upcoming events on employment tax updates.

Name of event: Employment Tax Update
Date: February 10, 2023
Time: 3pm to 4pm

Name of event: Employment Tax Issues & Opportunities Impacting M&A Transactions
Date: February 10, 2023
Time: 4pm to 5pm

 

EMPLOYMENT TAX UPDATE

The panel will discuss current developments in employment tax, including formal and informal guidance recently issued by the IRS, the IRS Priority Guidance Plan and recent court decisions pertaining to employment tax.

The panel will also discuss recently enacted legislation such as the qualified small business payroll tax credit for increasing research activities. For tax years beginning before January 1, 2023, a qualified small business may elect to claim up to $250,000 of its credit for increasing research activities as a payroll tax credit. The Inflation Reduction Act of 2022 (the IRA) increases the election amount to $500,000 for tax years beginning after December 31, 2022. Starting in the first quarter of 2023, the payroll tax credit is first used to reduce the employer share of social security tax up to $250,000 per quarter and any remaining credit reduces the employer share of Medicare tax for the quarter. Any remaining credit, after reducing the employer share of social security tax and the employer share of Medicare tax, is then carried forward to the next quarter.

Speakers: Lynne Camillo
Deputy Associate Chief Counsel
Employee Benefits, Exempt Organizations, and Employment Taxes
IRS Office of Chief Counsel

Speaker: Neil Sheppard, Esq,
Employee Benefits, Exempt Organizations, and Employment Taxes
IRS Office of Chief Counsel

Moderator: Chaya Kundra, Co-Chair

 

EMPLOYMENT TAX ISSUES & OPPORTUNITIES IMPACTING M&A TRANSACTIONS

There are opportunities and pitfalls to lookout for with newly acquired employees and related considerations as to transfers of employment tax qualifications, including successor status both at the federal and state level with employment and unemployment taxes considered in an M&A discussion and post-acquisition planning. Our panelists consist of both M&A tax and employment tax lawyers as we discuss these issues and opportunities for the surviving entity to reduce obligations and prevent potential new ones as to FICA, FUTA, the wage base, confirmation of worker eligibility, and classification; the three-part test when acquiring corporate assets; and corresponding impacts in both asset acquisitions (including statutory mergers) and stock purchases. This panel also will touch on opportunities related to potential employment tax refunds as well as the impact of timing.

Speakers: Chaya Kundra, Scott Levin, Jones Day, and to be announced; expecting Government Panelist as well.