"Our Constitution is in actual operation; everything appears to promise that it will last; but in this world nothing is certain but death and taxes." Benjamin Franklin, 1789. In truth, one aspect of the wonderful world of taxation—that of death taxes—is far from settled.

In this article, we explain why: some patterns of option grants that may appear extremely unlikely are actually very likely; the calculations presented in the March 18, 2006 Wall Street Journal article can be misleading; and factors that were disregarded in published probability calculations may be especially important when estimating the likelihood of grants for specific companies.

Automatic rollover to IRAs of mandatory cash out amounts worth more than $1,000 is required effective March 28, 2005. </B>Plan sponsors are currently deciding whether to administer automatic rollovers or to reduce their mandatory cash out amount to $1,000 or less so the requirement can be avoided.

The Department of Labor had previously issued guidance establishing a fiduciary "safe harbor" for setting up the rollover IRAs needed to implement the Economic Growth and Tax Relief Reconciliation Act of 2001 ("EGTRRA") requirement that mandatory distributions of more than $1,000 from qualified retirement plans ("plans") must be paid in a direct rollover to an IRA, effective March 28, 2005, unless the intended recipient provides other instructions.

The American Jobs Creation Act of 2004 was approved by Congress on October 11, 2004 and will soon be signed by President Bush. The legislation enacts sweeping changes in the rules governing nonqualified deferred compensation plans.

The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 established a new type of tax-favored individual account health plan, known as a health savings account (HSA), effective for tax years beginning on or after December 31, 2003.

Does your company use a retirement plan consultant to help plan how best to invest the company’s pension or 401(k) plan money?

Late last year, the IRS issued final regulations regarding the information that must be included in the explanation of the qualified joint and survivor annuity (QJSA) and the qualified pre-retirement survivor annuity (QPSA).

On March 24, 2004, the IRS issued proposed regulations under Code Section 411(d)(6)(B), which provide guidance on the conditions under which a retirement plan amendment may eliminate or reduce an early retirement benefit, a retirement-type subsidy, or an optional form of benefit.

Ultra-high-net-worth individuals and families face a valuation environment that is far more complex than simply determining the worth of an asset. In the context of trust, gift, and estate tax planning, valuation becomes a foundational discipline that affects wealth transfer strategy, tax efficiency, compliance, and long-term family outcomes.

As the private equity industry has grown and matured, one of the key issues facing fund managers and limited partners alike is the matter of succession planning by fund managers.

During the past several weeks, a number of U.S. federal and state investigations of mutual fund trading practices have resulted in the public disclosure of troubling practices at many well-known mutual fund providers.

Charles Grassley, Chairman of the Senate Finance Committee, has added amendments to the Jumpstart Our Business Strength Act (S. 1637) that would adversely change longstanding tax rules used by corporations to provide non-qualified deferred compensation to their employees.