Congress to protect ex-partners of former partnerships — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
More former business owners can rest easy in retirement. Here’s why: Congress is expected to protect ex-partners of former partnerships from having states pursue them for back taxes. The whole story: Some states have aggressively pursued taxes on the non-qualified deferred compensation of employees who’ve moved out of state. Their reasoning: The employees earned the income while they were state residents. A 1995 federal tax law exempted employees who move in retirement to no-tax or low-state states. Now, Congress is expected to amend the law to provide the same protection to ex-partners of former partnerships.
The death of an employee needs to be communicated within the workplace promptly and with sensitivity to the emotional toll that such news has on those receiving it. Many questions arise for managers and employees about how to make these announcements....Click here to find out more.