Employee benefits or employee benefit issues can arise anytime you are providing employees something of value other than direct cash compensation. Engagement is very important. I hear it talked about a lot at 401(k) committee...more
Carlton Fields tax attorney Lowell Walters provides an overview of the IRS’s “New 90-Day Pre-Examination Compliance Pilot” audit process and explains what you can do to prepare for it.
For more information, visit:...more
Participants do not always prefer the investment choices retirement plans offer. Whether participants want additional ways to diversify their portfolios or have other reasons, participants are asking retirement plan sponsors...more
Carlton Fields tax attorney Lowell Walters discusses IRS Notice 2020-29, which permits 2020 cafeteria plan election changes, and what it means for group health plan sponsors with employees affected by COVID-19....more
This article intends to help your payroll or finance departments prepare to take advantage of the employment tax credits provided by the Families First Coronavirus Response Act (FFCRA), signed into law on March 18, 2020....more
This article focuses on 401(k) and 403(b) plans that are in one of the following situations:
1. The plan failed ADP or ACP testing and must distribute excess amounts to its higher-ranking employees or make additional...more
2/5/2020
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Compensation & Benefits ,
Distribution Rules ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Internal Revenue Code (IRC) ,
IRS ,
Nonprofits ,
Pass-Through Entities ,
Retirement Plan ,
Tax Deductions ,
Tax Planning
On October 8, 2019, the U.S. Department of Treasury and the IRS released the 2019-2020 “Priority Guidance Plan” for the 12-month period running from July 1, 2019, through June 30, 2020. The plan sets out the agencies’...more
10/29/2019
/ 403(b) Plans ,
457(b) Plans ,
Audits ,
Employee Benefits ,
ESOP ,
Government Entities ,
IRS ,
New Guidance ,
Popular ,
Required Forms ,
Tax Exempt Entities ,
Tax Liability ,
Tax Planning ,
U.S. Treasury ,
UBTI
Retirement plan sponsors that implemented hardship distribution changes and other disaster relief in 2018 and 2019 probably have to amend their plan documents by the end of this year if they haven’t done so already. We...more
We noticed an uptick in employment tax issues, so thought a primer on employment taxation basics would be helpful. While this may be of general interest to in-house counsel and human resources professionals, it is probably...more
On April 19, 2019, the IRS updated its guidance on the official methods of correction that can be used by tax qualified and 403(b) retirement plans (and, to a lesser extent, 457 plans). ...more
This alert should interest sponsors of retirement plans subject to IRC sections 401(k), 403(b), or 457(b) that authorize hardship distributions (often called “unforeseeable emergency distributions” in 457(b) plans)....more
Federal contractors subject to the Service Contract Act might appreciate knowing that the IRS understands that they must generally offer a cash payment to employees who decline coverage....more
All employers are at risk of receiving a notice from the IRS that they are liable for a penalty under the Affordable Care Act for failing to offer enough employees insurance coverage, or for failing to offer particular...more
On October 12, President Trump signed Executive Order 13813, asking the Department of Labor (DOL) to consider allowing small employers to join together to self-insure or purchase insurance as a large group (creating...more
10/25/2017
/ Affordable Care Act ,
Association Health Plans ,
Cost-Sharing ,
Department of Labor (DOL) ,
Employer Mandates ,
Executive Orders ,
Health Insurance ,
Healthcare Reform ,
Individual Mandate ,
IRS ,
Qualified Small Employer Health Reimbursement Plan (QSEHRAs) ,
Trump Administration
This article should interest employers offering retirement plan benefits or leave donation programs to employees affected by Hurricanes Harvey and Irma, in particular, and in various states of emergencies, in general. It...more