The IRS has recently begun enforcing the “employer shared responsibility” (ESR) provisions of the Affordable Care Act (the "Act"), which require employers having 50 or more full-time employees (or full-time equivalent...more
In Notice 2017-64, the Internal Revenue Service has announced the cost-of-living adjustments (COLAs) being made to various limitations applicable to retirement plans for 2018. Some of those limitations have increased, and...more
10/24/2017
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Contribution Limits ,
Cost-of-Living Adjustment (COLA) ,
Defined Benefit Plans ,
Employee Benefits ,
ESOP ,
Health Savings Accounts ,
IRS ,
Qualified Benefit Plans ,
Qualified Retirement Plans ,
Retirement Plan ,
Small Employer Plans (SEPs)
On Monday, December 28, 2015, the Internal Revenue Service announced in Notice 2016-4 that employers will have additional time to file annual reports required under the Patient Protection and Affordable Care Act ("ACA"). The...more
On Friday, December 18, 2015, when President Obama signed the Protecting Americans from Tax Hikes (PATH) Act into law, one of the provisions included in the law made the monthly limit on qualified transportation benefits for...more
On October 21, 2015, in Information Release 2015-118, the IRS announced cost-of-living adjustments to various dollar limitations under the Internal Revenue Code (the "Code") for pension plans and other related items for the...more
10/28/2015
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Affordable Care Act ,
Cost-of-Living Adjustment (COLA) ,
Defined Contribution Plans ,
Department of Health and Human Services (HHS) ,
Employee Benefits ,
FSA ,
Health Insurance ,
Healthcare ,
Individual Retirement Account (IRA) ,
Insurance Industry ,
Internal Revenue Code (IRC) ,
IRS ,
Medicare Part B ,
Multiemployer Plan ,
Retirement Plan ,
Social Security Act ,
Social Security Administration (SSA) ,
Tax Credits
On July 31, 2015, President Obama signed the "Surface Transportation and Veterans Health Care Choice Improvement Act of 2015" (P.L. 114-41) (the "Act"). The Act primarily served to extend the Highway Trust Fund and various...more
The IRS has modified two of its "frequently asked questions" (FAQs) relating to the additional 0.9 percent "high-earner" Medicare tax that is required to be withheld starting this year. The modifications address how to deal...more
Today, in Announcement 2014-32 (the "Announcement"), the Internal Revenue Service clarified the rules that will apply going forward when an owner of an individual retirement arrangement (IRA) seeks to roll over a distribution...more
On October 23, 2014, the Internal Revenue Service announced cost of living adjustments affecting the limitations applicable to pension and other retirement plans, in IR 2014-99. Some of the limitations remain unchanged...more
Since the Supreme Court's decision in United States v. Windsor holding the Defense of Marriage Act ("DOMA") to be unconstitutional, and the related guidance issued thereafter by the Internal Revenue Service certain questions...more
On November 14, 2013, the Internal Revenue Service issued final regulations modifying some of the conditions for making mid-year changes to employer matching or nonelective contributions under plans that utilize the...more
Summary: On October 31, 2013, the Internal Revenue Service (IRS) issued Notice 2013 -71 (the "Notice"), which made two significant changes affecting the administration of cafeteria plans under section 125 of the Internal...more
As promised, the Internal Revenue Service has prescribed special procedures that employers may use in order to retroactively correct FICA withholding and payment following the Supreme Court's decision earlier this year in...more
On August 29, 2013, the Internal Revenue Service issued Revenue Ruling 2013-17, under which same-sex couples will be treated as married for all federal tax purposes, including income and gift and estate taxes, if their...more
In Announcements 2012-45 and 2012-46, the IRS has temporarily eased the eligibility requirements for employers to participate in the employment-tax Voluntary Classification Settlement Program ("VCSP") that was begun last...more