January 2016

January 29, 2016

Closed Pension Plans Could Meet Nondiscrimination Rules

Employers will be able to maintain closed defined benefit plans without running afoul of the nondiscrimination rules of Sec. 401(a) under proposed regulations issued by the IRS.

January 28, 2016

European Commission Issues Anti-Tax Avoidance Directives

Proposals include automatic exchange of the information gathered under new country-by-country reporting requirements.

January 20, 2016

Notice Postpones Sec. 501(c)(4) Social Welfare Organization Requirements

A new notice requirement recently enacted by Congress in the wake of the scandal regarding the IRS’s handling of Sec. 501(c)(4) applications will not be implemented immediately, the IRS announced.

January 12, 2016

How Employers Should Handle Retroactive Reinstatement of Transit Benefits Parity

The IRS issued procedures for employers to use to handle the retroactive application of the increased amount of the 2015 income exclusion for monthly transit benefits.

January 7, 2016

Controversial Charitable Donation Rules Withdrawn

The IRS announced that it is withdrawing proposed regulations released last September that would have allowed charities to file information returns with the IRS and donors instead of providing contemporaneous written acknowledgments of charitable donations.

January 6, 2016

IRS IP PIN Notice Contains Wrong Tax Year for Filing

The IRS warned that identity protection personal identification number (IP PIN) notices it has recently sent to victims of identity theft refer to the wrong tax year.

January 4, 2016

IRS Extends Health Care Information Return Due Dates

In response to concerns by employers and insurers about meeting the current due dates for information returns required under the health care law, the IRS delayed the due dates for these returns for the upcoming filing season.