The opportunity to get more assets into Roth vehicles via various means has evolved over the last several years.
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Employee Benefits
“Cadillac” Health Plan Excise Tax Delayed Until 2020
The so-called Cadillac plan excise tax is now scheduled to take effect in 2020.
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.
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.
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.
IRS Notice Fills in Many Gaps in Health Coverage Rules
Twenty-six Q&As issued by the IRS provide further guidance on a wide variety of issues affecting employer-provided health coverage under the Patient Protection and Affordable Care Act.
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.
Current Developments in Employee Benefits and Compensation
This article details notable developments
in the PPACA and tax-qualified retirement plans.
New Information-Reporting Requirements for Employers Under the Affordable Care Act
This column summarizes what applicable large
employers need to know about the reporting requirements.
Government Agencies Issue Final Health Care Regulations
The IRS, the Employee Benefits Security Administration, and the U.S. Department of Health and Human Services jointly issued final regulations governing many aspects of the Patient Protection and Affordable Care Act.
MyRAs Now Available Nationwide
Treasury said eligible individuals nationwide may now open a new retirement account for people with earned income who may lack access to an employer-sponsored retirement plan.
For Minimum Value, Employer Must Cover Inpatient Hospital and Physician Services
The IRS has proposed a requirement for employer-sponsored health plans to count as providing minimum value.
2016 Pension Contribution Limits Issued
Because of low inflation this year, many limits remain unchanged, but some are increasing.
Tax Planning Businesses Can Do Before Year End
Here are some suggestions to help business clients reduce 2015 taxes by accelerating deductions into this year and delaying income until next year.
Current Issues Involving Deferred Compensation and Employment Taxes
Employers in the for-profit, tax-exempt, and public sectors may overlook a number of issues involving the application of the employment tax rules.
Identifying, Preventing, and Mitigating Common Retirement Distribution Planning Mistakes
Retirement accounts are subject to numerous and, often, complicated rules, and the penalties for failing to comply with these rules can be substantial.
IRS Final Rules Govern Required Minimum Contributions for Single-Employer Pension Plans
Rules issued by the IRS govern the determination of minimum funding requirements for single-employer pension plans and how to calculate the excise tax on underfunding these plans.
Employer Health Plans Must Cover Inpatient Hospital and Physician Services
The IRS added a requirement that employer-sponsored health plan benefits must include substantial coverage of inpatient hospital and physician services for the plan to count as providing minimum value.
Constructive Receipt Traps for Paid-Time-Off Plans
The ability to convert unused PTO or sick days to cash constitutes constructive receipt and will subject employees to taxes even if they do not receive any cash.
New Rules Prohibit Defined Benefit Plans From Substituting Lump-Sum Payments for Annuities
The IRS announced that it will amend the Sec. 401(a)(9) required minimum distribution regulations to prohibit the use of lump-sum payments to replace annuity payments in defined benefit plans.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
