Sentences with phrase «tax planning provisions»

With respect to the estate tax exemption, many policy owners now recognize their modest estate no longer requires the tax planning provisions offered by their life insurance policy.

Here's a quick recap of the tax plan provisions that are going to hit millennials the hardest:

Not exact matches

He said Trump's plan, however, would create «a whole new set of wealthy individuals being able to dodge their taxes through this new provision.»

There are a few headline - grabbing provisions unveiled in today's Economic Action Plan 2014, including increased taxes on tobacco products and an additional $ 500 million for the government's automotive innovation fund.

Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personntax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personntax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnTax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.

According to the Tax Policy Center, the plan has no provision to «limit the number of employees who would redefine themselves as sole proprietors.»

Republicans release their final tax plan, which strikes compromises on many provisions that differed in separate versions passed by the House and Senate.

Examples include provisions that allow immediate expensing or accelerated depreciation of certain capital investments, and others that allow taxpayers to defer their tax liability, such as the deferral of recognition of income on contributions to and income accrued within qualified retirement plans.

As with previous proposals, the new plan promises to cut taxes for individuals and businesses, while wiping out deductions and repealing other controversial tax provisions.

He also wants to impose a minimum tax on foreign earnings, a move opposed by multinational corporations and perhaps the most contentious provision in the president's plan.

Adjusted EBITDA is defined as net income / (loss) from continuing operations before interest expense, other expense / (income), net, provision for / (benefit from) income taxes; in addition to these adjustments, the Company excludes, when they occur, the impacts of depreciation and amortization (excluding integration and restructuring expenses)(including amortization of postretirement benefit plans prior service credits), integration and restructuring expenses, merger costs, unrealized losses / (gains) on commodity hedges, impairment losses, losses / (gains) on the sale of a business, nonmonetary currency devaluation (e.g., remeasurement gains and losses), and equity award compensation expense (excluding integration and restructuring expenses).

The tax plan does not make direct changes to how income on investments is taxed, but what people will pay could change as a result of other provisions in the plan.

At the center of the dispute is the House plan to lower the tax rate for some firms that take advantage of a provision known as the pass - through rate.

While a change on Monday restored a $ 3.2 billion middle - class provision allowing those enrolled in employer - sponsored dependent - care savings plans to deduct up to $ 5,000 from their taxes, a revision on Friday rolled back individual tax cuts by nearly $ 82 billion by indexing individual tax parameters to a different measure of inflation that tends to grow more slowly.

«Even though the consumption tax is scheduled to be raised by 2 percentage points, a number of measures to mitigate the burden, such as a reduced tax rate and an increase in welfare benefits for pensioners, and the provision of free education are planned to be implanted,» the report said.

That win comes at a cost: By repealing the mandate in their tax plan, Republicans are paying for $ 1 trillion in corporate tax cuts and individual tax cuts that heavily benefit wealthy Americans by adding a provision that will lead to millions fewer people having health coverage.

The majority of the provisions targeting individuals in the new tax plan are set to expire at the end of 2025, while others (including a lowering of the corporate tax rate) are permanent.

«It's important to remember that any final tax reform plan will be the subject of negotiation and compromise between the President and both houses of Congress, but I have grave concern about a provision eliminating the state and local tax deductions because it would harm the hardworking, overburdened taxpayers who live here,» Flanagan said.

The state's governor and senior senator teamed up Monday to urge New York's congressional delegation to oppose a provision in the federal tax overhaul plan that they say could be harmful to the state's taxpayers and economy.

The governor referred to the tax plan as an «arrow to the economic heart» of New York, largely due to the provision that will cap the state and local tax deduction for property and income taxes.

* The relevant language reads as follows: Quarterly, throughout the fiscal year, the governor shall submit to the comptroller, the chairs of the senate finance and the assembly ways and means committees, within thirty days of the close of the quarter to which it shall pertain, a report which summarizes the actual experience to date and projections for the remaining quarters of the current fiscal year and for each of the next two fiscal years of receipts, disbursements, tax refunds, and repayments of advances presented in forms suitable for comparison with the financial plan submitted pursuant to subdivisions one, four, and five, of section twenty - two of this article and revised in accordance with the provisions of subdivision three of this section.

Gov. Andrew Cuomo in a phone conference call with reporters on Thursday once again criticized the Republican plan in Congress to end the deduction of state and local taxes, saying the provision would hurt job growth in New York.

Hammond also said a provision in the House GOP plan to prohibit people from using the tax credits to buy insurance that covers abortion also bumps up against a Cuomo administration policy requiring state - regulated health plans to cover such procedures.

The state's governor and senior senator teamed up to urge New York's congressional delegation to oppose a provision in the federal tax overhaul plan that they say could be harmful to the state's taxpayers and New York's economy.

Governor Cuomo is not pleased with the Republican House of Representatives tax overhaul plan, calling a key provision «double taxation» on some New Yorkers.

The non-binding budget resolution included such IDC asks as a provision to create an independent monitor to oversee the troubled New York City Housing Authority, diverting more than $ 400 million in city sales tax money to the MTA, and creating a secure choice savings account that would allow workers with no retirement savings plan to set aside money in a fund run by the state.

A key provision in the Republican tax plan could dim the appeal of living in high - tax states like New York in favor of low - tax states like Florida.

Quarterly, throughout the fiscal year, the governor shall submit to the comptroller, the chairs of the senate finance and the assembly ways and means committees, within thirty days of the close of the quarter to which it shall pertain, a report which summarizes the actual experience to date and projections for the remaining quarters of the current fiscal year and for each of the next two fiscal years of receipts, disbursements, tax refunds, and repayments of advances presented in forms suitable for comparison with the financial plan submitted pursuant to subdivisions one, four, and five, of section twenty - two of this article and revised in accordance with the provisions of subdivision three of this section.

Republicans» release of a sweeping plan to rewrite the tax code has set off a scramble among Washington lobbyists and trade groups to protect valuable tax breaks and other long - ingrained provisions.

Cuomo and Schumer are calling on four New York Republican House members — Claudia Tenney, John Faso, John Katko and Elise Stefanik, who have all expressed reservations about the provision — to vote against the tax plan.

«We disagree with the mayor's proposed housing plan, which we consider a step backwards, extending tax breaks for big developers by a decade and riddled with sweetheart provisions for the real estate industry at the expense of the city's taxpayers and workers,» Melissa DeRosa, a spokeswoman for Cuomo, said in a statement Saturday.

The liberal Democrat said he expects Trump's tax plan «to be met with a huge backlash,» asserting many of its provisions would reap a windfall for high earners at the expense of domestic programs, and would involve an «immense amount of deficit spending» — supposedly anathema to conservative Republicans.

A provision in the bill, signed by Gov. Andrew Cuomo in late January, slashes residential property taxes on five marquee Manhattan developments, including Extell's One57 in Midtown, Silverstein's planned Four Seasons tower in Lower Manhattan, and Thor's project 516 Fifth Avenue.

Different versions of the plan include provisions to either eliminate or scale back the deductibility of state and local property taxes.

Letter from AAAS CEO Rush Holt to Deputy Attorney General Rod Rosenstein Regarding Fingerprint Reporting Guidelines [March 28, 2018] AAAS Statement on FY 2018 Omnibus Bill Funds for Scientific Research [March 23, 2018] AAAS Statement on FY 2018 Omnibus Funding Bill [March 22, 2018] AAAS CEO Rush Holt Statement on Death of Rep. Louise Slaughter [March 16, 2018] AAAS CEO Urges U.S. President and Congress to Lift Funding Restrictions on Gun Violence Research [March 13, 2018] AAAS Statements on Elections and Paper Ballots [March 9, 2018] AAAS Statement on President's 2019 Budget Plan [February 12, 2018] AAAS Statement on FY 2018 Budget Deal and Continuing Resolution [February 9, 2018] AAAS Statement on President Trump's State of the Union Address [January 30, 2018] AAAS Statement on Continuing Resolution Urges FY 2018 Final Omnibus Bill [January 22, 2018] AAAS Statement on U.S. Government Shutdown [January 20, 2018] Community Statement to OMB on Science and Government [December 19, 2017] AAAS CEO Response to Media Report on Use of «Science - Based» at CDC [December 15, 2017] Letter from AAAS and the American Physical Society to Iranian President Hassan Rouhani Regarding Scientist Ahmadreza Djalali [December 15, 2017] Multisociety Letter Conference Graduate Student Tax Provisions [December 7, 2017] Multisociety Letter Presses Senate to Preserve Higher Education Tax Benefits [November 29, 2017] AAAS Multisociety Letter on Tax Reform [November 15, 2017] AAAS Letter to U.S. House of Representatives Ways and Means Committee on Tax Cuts and Jobs Act (H.R. 1)[November 7, 2017] AAAS Statement on Release of National Climate Assessment Report [November 3, 2017] AAAS Statement on EPA Science Adviser Boards [October 31, 2017] AAAS Statement on EPA Restricting Scientist Communication of Research Results [October 25, 2017] Statement of the Board of Directors of the American Association for the Advancement of Science on Scientific Freedom and Responsibility [October 18, 2017] Scientific Societies» Letter on President Trump's Visa and Immigration Proclamation [October 17, 2017] AAAS Statement on U.S. Withdrawal from UNESCO [October 12, 2017] AAAS Statement on White House Proclamation on Immigration and Visas [September 25, 2017] AAAS Statement from CEO Rush Holt on ARPA - E Reauthorization Act [September 8, 2017] AAAS Speaks Out Against Trump Administration Halt of Young Immigrant Program [September 6, 2017] AAAS Statement on Trump Administration Disbanding National Climate Assessment Advisory Committee [August 22, 2017] AAAS CEO Rush Holt Issues Statement On Death of Former Rep. Vern Ehlers [August 17, 2017] AAAS CEO Rush Holt and 15 Other Science Society Leaders Request Climate Science Meeting with EPA Administrator Scott Pruitt [July 31, 2017] AAAS Encourages Congressional Appropriators to Invest in Research and Innovation [July 25, 2017] AAAS CEO Urges Secretary of State to Fill Post of Science and Technology Adviser [July 13, 2017] AAAS and ESA Urge Trump Administration to Protect Monuments [July 7, 2017] AAAS Statement on House Appropriations Bill for the Department of Energy [June 28, 2017] Scientific Organizations Statement on Science and Government [June 27, 2017] AAAS Statement on White House Executive Order on Cuba Relations [June 16, 2017] AAAS Statement on Paris Agreement on Climate Change [June 1, 2017] AAAS Statement from CEO Rush Holt on Fiscal Year 2018 Budget Proposal [May 23, 2017] AAAS thanks the Congress for prioritizing research and development funding in the FY 2017 omnibus appropriations [May 9, 2017] AAAS Statement on Dismissal of Scientists on EPA Scientific Advisory Board [May 8, 2017] AAAS CEO Rush Holt Statement on FY 2017 Appropriations [May 1, 2017] AAAS CEO Statement on Executive Order on Climate Change [March 28, 2017] AAAS leads an intersociety letter on the HONEST Act [March 28, 2017] President's Budget Plan Would Cripple Science and Technology, AAAS Says [March 16, 2017] AAAS Responds to New Immigration Executive Order [March 6, 2017] AAAS CEO Responds to Trump Immigration and Visa Order [January 28, 2017] AAAS CEO Rush Holt Statement on Federal Scientists and Public Communication [January 24, 2017] AAAS thanks leaders of the American Innovation and Competitiveness Act [December 21, 2016] AAAS CEO Rush Holt raises concern over President - Elect Donald Trump's EPA Director Selection [December 15, 2016] AAAS CEO Rush Holt Statement Following the House Passage of 21st Century Cures Act [December 2, 2016] Letter from U.S. scientific, engineering, and higher education community leaders to President - elect Trump's transition team [November 23, 2016] Letter from AAAS CEO Rush Holt to Senate Leaders and Letter to House Leaders to pass a FY 2017 Omnibus Spending Bill [November 15, 2016] AAAS reaffirms the reality of human - caused climate change [June 28, 2016]

The provision is no longer expected to be included in the final version of the tax overhaul measure that the House and Senate are planning to vote on next week, according to media reports.

Building a bridge for the Clean Power Plan In addition to the spending and tax provisions, Congress also formally lifted a ban on U.S. crude oil exports, something Republicans and oil - state Democrats had sought.

WASHINGTON — While most of the debate in Congress over President Clinton's deficit - reduction proposal focused on the plan's controversial tax increases and spending cuts, the omnibus package also contained a number of provisions affecting children, students, and schools.

Clearly children's diets need attention, and there have been a number of initiatives to break the unhealthy eating habit, including: The National Healthy Schools Programme (1998 to 2009), which included healthy and nutritious foods being made available in school canteens and vending machines; The School Food Plan, (launched in 2015), which provided a new set of standards for all food served in schools, offering children more healthy, balanced diets, and withdrawing the provision of unhealthy snacks and drinks in school vending machines; and the much - publicised new sugar tax, which will be imposed on companies according to the sugar content of the energy and fizzy drinks they produce.

In response, the architects of the Cleveland Plan included the provision to share 1 mill of the city's new tax levy with charter schools that formally partnered with CMSD.

Governor Corbett and Secretary of Education Ron Tomalis outlined four key provisions of their plan: «opportunity scholarships, expanding the Educational Improvement Tax Credits program, improved charter school quality and accountability, and more robust and comprehensive educator evaluations.»

The bill, which mirrors most of Governor Tom Corbett's educational reform plan, creates an opportunity scholarship program for low - income students, expands the current Educational Improvement Tax Credit (EITC) program to provide for a variety of options for students and families and contains several charter school reform provisions.

One of the bill's provisions includes an expansion of 529 education savings plans so that their funds can be allocated tax - free to K - 12 public, private, and religious educational expenses.

Parent Involvement in the School Program 2112.00 Parent Involvement Plan 2112.00 R1 Part - Time Classified Employees 6335.00 Part - Time Employees 6325.12 Payroll Deductions - Tax Sheltered Annuities 3921.00 Payroll Deductions - Tax Sheltered Annuities 3921.00 R1 Payroll Deductions - Tax Sheltered Annuities Approved Companies 3921.00 R3 Payroll Deductions - Tax Sheltered Annuity Deduction Agreement 3921.00 R1E1 Payroll Deductions - Tax Sheltered Annuity Requirements for all Vendors 3921.00 R2 Payroll Deductions - Tax Sheltered Life Insurance 3922.00 Performance Contract (Memorandum) 7116.30 E4 Performance Contract (Memorandum) 6222.10 E4 Performance Contract - $ 1,000 or less 7116.30 E2 Performance Contract - $ 1,000 or less 6222.10 E2 Performance Contract - over $ 1,000 not more than $ 5,000 6222.10 E3 Performance Contract - over $ 1,000, not more than $ 5,000 7116.30 E3 Performance Contract - Procedures 7116.30 R1 Performance Contract - Procedures 6222.10 R1 Performance Contract - Wage / Payment & Vendor / Contractor Determination 7116.30 E5 Performance Contract - Wage / Payment & Vendor / Contractor Determination 6222.10 E5 Performance Contracts 6222.10 Performance Contracts 7116.30 Personal Leave - All Employees 6225.00 R3 Personal Property Authorization 3934.00 E1 Personal Purchases by Employees 3872.00 Personnel Files 6410.00 Personnel Files 6410.00 R1 Petty Cash Purchase 3820.00 Physical Assaults and Threats 5610.00 Physical Examinations 6430.00 Physical Examinations 6430.00 R1 Positive Behavior Supports 8400.00 R1 Positive Behavior Supports and Interventions 8400.00 Post-Issuance Compliance for Tax Exempt and Tax Advantaged Obligations 3510.00 Post-Issuance Compliance for Tax Exempt and Tax Advantaged Obligations 3510.00 R1 Probationary Classified Employees 6343.00 Procedure for Workers» Compensation Insurance 6223.60 R1 Professional Staff Evaluation 6192.00 Program Evaluation 0540.00 R1 Program Evaluation 0540.00 Prohibition of Referral or Assistance Property Claim Form 3934.00 E2 Property Inventory 3220.00 Property Inventory 3220.00 R1 Proposed Guidelines for the Provision of Sex Education 7122.40 Public Complaints or Concerns 9600.00 Public Complaints or Concerns 9600.00 R1 Public Complaints or Concerns - Guidelines 9600.00 E1 Public Information Program 9120.00 Public Information Program 9120.00 R1 Public Records 8310.00 R1 Public Records 9110.00 Public Records 9110.00 R1 Public School Academies (Charter Schools) 2020.00 Public School Academies - Review and Approval of Application 2020.00 R1 Purchasing 3810.00 R1 Purchasing 3810.00 Purchasing - Department Responsibilities 3810.00 E1 Purchasing Cards 3810.00 R14

Tom Evenson, spokesman for Walker, said the governor is backing Nygren's new plan because it includes a provision that would prohibit school districts from raising taxes if voters rejected a referendum in the last three years.

Proponents of H.R. 2492 fear that taxation of the amount forgiven will either discourage borrowers from using this beneficial repayment plan or prove to be an unexpected payment hardship in the future if borrowers using IBR are not aware of this tax law provision.

The tax plan signed into law on December 22, 2017 includes provisions related to 529 college savings plans.

There is, however, a special tax provision that allows an individual to make an election to gift up to $ 65,000 in 2012 to a single 529 plan beneficiary in one year and treat the gift as a series of five equal annual gifts.

Not only does this provision affect all new loans, it also impacts those taken out before the new tax plan was adopted, a fact that may catch many homeowners off guard.

Put simply, the door is now wide open for class action lawsuits targeting credit counseling agencies — regardless of tax - exempt or nonprofit status — based on nothing more than the agencies» provision of DMP plans (that are incidental to the education and counseling provided by the agencies).