Jeffrey Holdvogt

Jeffrey Holdvogt

McDermott Will & Emery

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Latest Publications


IRS Announces Employee Benefit Plan Limits for 2016

Recently the Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the...more

10/23/2015 - Benefit Plan Sponsors COLA Cost-of-Living Employee Benefits Health and Welfare Plans Health Plan Sponsors IRS Retirement Plan Social Security Administration (SSA) Summary Plan Description

Recent IRS Guidance Prohibits Lump-Sum Windows for Pension Retirees, Updates Pension Mortality Tables for 2016

The Internal Revenue Service (IRS) recently issued two significant notices for employers that sponsor defined benefit pension plans, particularly those considering lump-sum windows as a “de-risking” option for their plans....more

9/3/2015 - Benefit Plan Sponsors De-Risking Defined Benefit Plans Funding Requirements Internal Revenue Code (IRC) IRS Lump Sum Offers Lump Sum Payments New Guidance PBGC Pensions Private Letter Rulings Section 401 U.S. Treasury

DOL Report on Quality of Independent Plan Audits Shows that Plan Sponsors Must Continually Monitor Plan Compliance

The Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (DOL) recently released “Assessing the Quality of Employee Benefit Plan Audits,” a comprehensive report reviewing the quality of audit work...more

6/16/2015 - Accountants Audits Benefit Plan Sponsors DOL EBSA Employee Benefits ERISA Fiduciary Duty GAAS IRS

DOL Provides Greater Flexibility for Distribution of Annual Participant Fee Disclosure Effective Immediately

The U.S. Department of Labor (DOL) recently issued guidance providing defined contribution plan administrators with additional flexibility on the timing requirements for distribution of the required annual fee disclosure to...more

4/21/2015 - 401k Benefit Plan Sponsors Defined Contribution Plans DOL Fee Disclosure New Guidance

IRS Permits Puerto Rico-Qualified Plans in U.S. Group Trusts, Extends Deadline for Certain Puerto Rico Spin-Offs

The U.S. Internal Revenue Service (IRS) recently issued Revenue Ruling 2014-24, which expressly permits retirement plans that are tax qualified only in Puerto Rico (Puerto Rico-only plans) to continue to pool assets with...more

10/21/2014 - Employee Benefits IRS Puerto Rico Retirement Plan

Inside M&A - Fall 2014

Managing Compliance Risks in M&A Transactions - Buyers can acquire unintended and potentially very damaging liabilities together with target business or assets. Analyzing the financial situation of a target company,...more

10/15/2014 - Compliance DOJ Due Diligence FCPA Integration Risk Assessment SEC Successor Liability Target Company Valuation

Tax Prepayment Window Closes on October 31, 2014, for Puerto Rico Retirement Plans

On July 1, 2014, Puerto Rico adopted new legislation (Tax Act 77), which provides a window from July 1, 2014 – October 31, 2014, for participants in Puerto Rico retirement plans to prepay at reduced rates Puerto Rico income...more

10/2/2014 - Income Taxes New Legislation Puerto Rico Retirement Plan

PBGC Coverage May No Longer Apply to Puerto Rico-Only Qualified Retirement Plans

Employers that sponsor defined benefit qualified retirement plans benefiting only Puerto Rico employees should be aware that Pension Benefit Guaranty Corporation (PBGC) coverage may no longer apply. Last year, the PBGC...more

8/5/2014 - Employee Benefits ERISA PBGC Pensions Qualified Retirement Plans Retirement Plan

New IRS Program for Delinquent Form 5500 Filers of Non-ERISA Plans

The Internal Revenue Service recently established a one-year pilot program that provides plan administrators and plan sponsors of certain non-ERISA and foreign plans subject to the annual Form 5500 reporting requirements...more

6/3/2014 - Benefit Plan Sponsors ERISA Form 5500 Internal Revenue Code (IRC) IRS Plan Administrators Reporting Requirements

Supreme Court Decides in Favor of IRS in Quality Stores: FICA Generally Applies to Severance Payments

The Supreme Court of the United States has decided in favor of the Internal Revenue Service in United States v. Quality Stores, Inc., holding that severance payments made pursuant to plans that did not tie payments to the...more

3/27/2014 - FICA Taxes IRS Quality Stores SCOTUS Severance Pay

IRS Issues Final Regulations Clarifying Substantial Risk of Forfeiture Under Section 83 of the Internal Revenue Code

The Internal Revenue Service (IRS) recently released new final regulations under Section 83 of the Internal Revenue Code (the Code) that confirm several positions that it has successfully taken in litigation about what is ...more

3/10/2014 - Forfeiture Internal Revenue Code (IRC) IRS

Deadline Looms for Quality Stores FICA Refund Claims for Severance Payments

The Supreme Court of the United States recently heard arguments in its review of the U.S. Court of Appeals for the Sixth Circuit’s Quality Stores decision. At issue in Quality Stores is whether certain severance payments...more

2/13/2014 - Deadlines FICA Taxes Income Taxes Quality Stores Wage and Hour

Employer Obligations for Additional Medicare Tax

The Internal Revenue Service recently released final regulations and updated questions and answers to help employers and taxpayers comply with the new 0.9 percent Medicare payroll tax increase on high-income earners that...more

12/10/2013 - Compliance IRS Medicare Payroll Taxes

IRS Announces Employee Benefit Plan Limits for 2014

The Internal Revenue Service (IRS) recently announced cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans for 2014. Although many dollar limits currently in...more

11/1/2013 - 401k COLA Cost-of-Living Employee Benefits HSA IRS Retirement Plan

Additional Time for Employers to Amend and File Puerto Rico Qualified Retirement Plans

The Puerto Rico Treasury Department recently issued Circular Letter No. 13-02, extending the deadline for employers that sponsor qualified retirement plans benefiting Puerto Rico employees to adopt amendments and file for...more

7/16/2013 - Qualified Retirement Plans Retirement

Inside M&A - Spring 2013

Top Five Traps for the Unwary in Spin-Offs - A wave of corporate breakups has swept through the United States over the last few years as investors have taken notice of the fact that smaller companies focused on a...more

4/30/2013 - Disclosure Requirements Employee Benefits Incentives Private Letter Rulings Restructuring Separate Accounts Separation Spinoffs Tax Exemptions

IRS Provides Additional Favorable Guidance on Recently Modified Voluntary Classification Settlement Program

On February 27, 2013, the Internal Revenue Service (IRS) issued News Release IR-2013-23 to provide additional favorable guidance regarding modifications to the Voluntary Classification Settlement Program (VCSP) issued in...more

3/20/2013 - Independent Contractors IRS Misclassification Payroll Taxes VCSP

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