On December 29, 2022, the IRS issued proposed regulations that would permanently allow retirement plans to accept remote participant elections and spousal consents.
PROPOSED REGULATIONS STEM FROM THE COVID-19 PANDEMIC-...more
The Internal Revenue Service has issued proposed regulations describing the rules regarding the 21 percent excise tax on compensation over $1 million and excess parachute payments paid by tax-exempt organizations to certain...more
As a result of the COVID-19 crisis, the IRS has just issued IRS Notice 2020-29 (the notice), which permits (but does not require) employers to provide flexibility to employees to change their elections under cafeteria plans...more
When it comes to complying with the law, the expiration of a statute of limitations can be a welcome relief for employers trying their best to be legally compliant, but discovering that they were not 100 percent correct with...more
The IRS has issued IRS Notice 2013-71, allowing limited carry-over of amounts in employees’ flex plan accounts to the following plan year. Under the guidance employers may permit participants to carry over up to $500 of...more