The Internal Revenue Service (IRS) has recently published frequently asked questions addressing leave-sharing plans related to the COVID-19 pandemic. Following IRS Notice 2006-59, the IRS has confirmed that employers may set...more
The Internal Revenue Service (IRS) recently issued Notice 2020-50 to provide retirement plans with guidance under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The extensive guidance provides helpful...more
6/24/2020
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On May 12, 2020, the Internal Revenue Service (IRS) issued two notices permitting employers to offer new opportunities for employees to change their salary reduction elections under a cafeteria plan and avoid forfeitures of...more
In two recent Revenue Procedures, the Internal Revenue Service (IRS) has modified the Employee Plans Compliance Resolution System (EPCRS), the IRS correction program for retirement plans. Revenue Procedure. 2015-27 reduces...more