Qualified & Non-qualified Benefits

Topics

February 23, 2022

Proposed regulations update RMDs for SECURE Act changes

The regulations governing required minimum distributions from retirement plans would be updated to reflect various recent statutory changes under proposed regulations released on Wednesday.

May 1, 2021

Cafeteria plans may be amended during pandemic

The IRS issued guidance on how employers can amend their health flexible spending arrangements and dependent care assistance programs to respond to the coronavirus pandemic.

April 1, 2021

SEP plans: A cautionary tale about IRS audits

An employer’s failure to comply with SEP rules results in very costly penalties.

April 1, 2021

How to preserve retirement plan company matches

CPAs can play a vital role in helping plan sponsors cut costs and make the best of a challenging situation so the business can keep its company retirement plans intact.

February 19, 2021

IRS provides cafeteria plan relief for the pandemic

The IRS issued guidance on how employers can amend their health flexible spending arrangements and dependent care assistance programs to respond to the coronavirus pandemic.

January 1, 2021

Taxpayer had unfettered control over SEP-IRA distribution

A distribution from a SEP-IRA to an LLC owned by the taxpayer is includible in the taxpayer’s gross income.

December 8, 2020

IRS finalizes qualified plan loan rollover rules

The IRS finalized proposed regulations on the qualified plan loan rollover rules amended by the law known as the Tax Cuts and Jobs Act with just one change in response to a comment.

November 1, 2020

Private-equity funds allowed in ERISA-covered individual account plans

The DOL concluded that an asset allocation fund with a private-equity component may be offered to participants in an ERISA-covered individual account plan.

November 1, 2020

How to make extended qualified plan rollovers

The IRS issued proposed regulations explaining the extended rollover period that applies to qualified plan loan offsets after the rules were amended by the TCJA.

May 12, 2020

IRS allows midyear changes to health coverage, dependent care elections

In response to the coronavirus pandemic, the IRS is allowing employers to permit their employees to change their health coverage elections or dependent care elections during the year and is extending the carryover period for health flexible spending arrangement (FSA) expenses.

November 1, 2016

Treatment of Wellness Program Benefits and Employer Reimbursements Under a Sec. 125 Cafeteria Plan

For employees to evaluate the true tax benefits, they must understand the wellness programs and plans being offered.

December 9, 2015

IRS Guidance Explains Effect of Same-Sex Marriage on Health and Retirement Plans

The IRS released additional guidance on the effect of the Supreme Court’s same-sex marriage decision on qualified retirement plans and health and welfare benefit plans, including Sec. 125 cafeteria plans.

September 19, 2014

IRS Announces Proposed Changes to Cafeteria Plan Elections and Lookback Period

Proposed changes to the rules for when a taxpayer can revoke health care coverage in a cafeteria plan and how to measure the lookback period for determining who is a full-time employee when an employee moves positions within the same employer group.

November 1, 2013

Health FSA Use-It-Or-Lose-It Rule Modified to Allow a $500 Carryover

The IRS will now permit companies to amend their cafeteria plans to allow participants in health FSAs who do not use all of the money in a plan year to use up to $500 in the next plan year, in addition to the regular $2,500 limit during the succeeding year.

August 1, 2012

New $2,500 Health FSA Limit Guidance

The IRS provided guidance on implementation by employers of the $2,500 annual limit on employee salary reduction contributions to health FSAs.

November 1, 2007

Current Developments in Employee Benefits and Pensions (Part I)

This two-part article provides an overview of current developments in employee benefits, including executive compensation, welfare benefits, and qualified plans. Part I focuses primarily on executive compensation and welfare benefits.