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Montené Speight

Montené Speight is an associate in the firm’s New York office and is a member of the Corporate Practice Group. She advises clients in public and private transactions and other general corporate matters. She spends a significant amount of her practice advising clients on all aspects of employee benefits and executive compensation including in connection with employment, separation, and change-in-control agreements. Montené counsels clients on compliance with ERISA, the Internal Revenue Code, and agency regulations. She has experience drafting and advising on tax-qualified retirement plans, health and welfare plans, and cash and equity incentive compensation plans.

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Signed into law by President Trump on July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) (H.R. 1) adds section 6050AA to the Internal Revenue Code to adopt new information reporting requirement requiring businesses receiving interest on car loans from individuals to report specified information to the IRS (presumably on a new form in the 1098 series) and to provide a written statement to the payers.  The requirement is similar to those under section 6050H for businesses receiving payments of mortgage interest.  The requirement was adopted in conjunction with a new tax deduction for up to $10,000 in interest paid on loans used for the purchase of passenger vehicles assembled in the United States.  (The deduction is subject to a phaseout for individuals with adjusted gross incomes above $100,000 ($200,000 for married filing jointly.)Continue Reading Auto Loan Interest Deduction Comes with New Information Reporting Requirement for Lenders

The IRS issued Rev. Rul. 2025-4 on January 15, 2025, regarding the federal income and employment tax treatment and related reporting requirements of contributions to, and benefits paid under, a mandatory state paid family and medical leave (PFML) program. The ruling includes various tax treatment scenarios containing the IRS’ guidance with…

Continue Reading IRS Issues Ruling on Tax Treatment of Contributions and Benefits Under State Paid Family and Medical Leave Programs

On April 16, 2024, the IRS issued fact sheet FS-2024-13 providing answers to frequently asked questions  about the tax treatment of work-life referral services provided to employees under an employer’s work-life referral program. The FAQs clarify that, under certain circumstances, the value received from work-life referral services provided to employees…

Continue Reading IRS Issues FAQs Addressing Tax Treatment of Work-Life Referral Services Provided to Employees