Employee Benefits

Topics

April 4, 2013

IRS Announces Pre-Approval Program for Sec. 403(b) Plans

The IRS has established a program for the pre-approval of Sec. 403(b) plans.

April 1, 2013

IRS Proposes Employer Play-or-Pay Regulations Under Health Care Reform

The IRS issued proposed regulations on the employer shared-responsibility provisions under Sec. 4980H, sometimes referred to as the “play-or-pay” rule.

March 1, 2013

Proposed Regs. Issued on Large Employer Health Coverage Shared-Responsibility Provisions

The IRS has issued proposed regulations providing guidance on the large employer “shared responsibility” provisions in Sec. 4980H.

February 1, 2013

Tax Treatment When Employees Surrender Paid Time Off to Benefit Others

There are various types of PTO donation and leave-sharing programs, not all of which are disaster-related. The tax treatment to the donating employee differs based on the type of program.

February 1, 2013

Establishing the “Fact of the Liability” for Bonus Compensation

A recent IRS legal memorandum serves as a reminder to business taxpayers to consider modifying or updating their employee bonus plans to enable a deduction for bonus compensation accrued in the year of the related services, as provided in Rev. Rul. 2011-29.

January 24, 2013

Updated Forms, Procedures Issued for Plan Sponsors in IRS’s Voluntary Correction Program

The IRS announced that it was issuing updated procedures and forms for sponsors of retirement plans.

January 2, 2013

Proposed Regs. Issued on Large Employer Health Coverage Shared Responsibility Provisions

The IRS has issued proposed regulations providing guidance on the large employer “shared responsibility” provisions in Sec. 4980H.

December 1, 2012

Providing Sec. 132 Fringe Benefits to S Corporation Employees

S corporations can offer employees the same fringe benefits as other business entities; however, so-called 2% shareholders are treated as partners for fringe benefit purposes. Work related fringe benefits are an exception.

December 1, 2012

Compensation and Benefits Update: Implementing the New Health Plan Laws

This article focuses on guidance released and changes to the rules for group health plans as a result of the Patient Protection and Affordable Care Act.

December 1, 2012

Inflation Adjustments for 2013

The IRS released its annual revenue procedure making inflation adjustments to the gift tax annual exclusion and other items for tax years beginning in 2013.

November 16, 2012

Hurricane Sandy Victims Can Take Hardship Distributions, Loans, From Retirement Plans

The IRS will allow taxpayers who have been adversely affected by Hurricane Sandy to take hardship distributions or loans from their retirement plans.

November 7, 2012

Leave-Based Donation Programs Allowed for Hurricane Sandy Relief

In response to the extraordinary damage caused by Hurricane Sandy and the extreme need for relief, the IRS has released guidance for employers who are considering adopting leave-based donation programs to aid the storm’s victims.

November 1, 2012

Compensation and Benefits Update: Retirement Plans and Executive Compensation

This article focuses on recent changes affecting qualified retirement plans and executive compensation.

November 1, 2012

Employee Expense Reimbursement Arrangement Guidance Issued

The IRS issued guidance on employee reimbursements and whether they satisfy the business connection and other requirements to be treated as paid under an accountable plan under.

October 18, 2012

IRS Announces Inflation Adjustments for 2013

The IRS released its annual revenue procedure making inflation adjustments to the gift tax annual exclusion and other items for tax years beginning in 2013.

September 10, 2012

Guidance Issued on Employee Expense Reimbursement Arrangements

The IRS issued guidance on situations in which employers recharacterize wages as nontaxable reimbursements and whether they met the requirements to be treated as paid under an accountable plan.

September 7, 2012

Employee Health Insurance Safe Harbors Expanded

The IRS expanded and revised optional safe harbors on which applicable large employers may rely in complying with requirements starting in 2014 to provide health insurance coverage to their full-time employees.

August 1, 2012