Congress and the IRS have expanded the availability and procedures for maximizing the income tax and FICA tax exclusion for mass transit benefits, but immediate action is required to satisfy the IRS special relief provisions...more
The 2015 Cromnibus and the Tax Increase Prevention Act of 2014 solve some problems and raise others.
On December 16, 2014, U.S. President Barack Obama signed the Consolidated and Further Continuing Appropriations Act...more
The decision in Quality Stores not only kills FICA tax refunds for millions of unemployed workers, but it also requires proactive employer actions to maximize future employer and state unemployment benefit payments to...more
Notice 2013-61 provides alternative administrative procedures for reporting income and FICA tax adjustments in response to the Windsor decision and Revenue Ruling 2013-17.
On September 24, the U.S. Department of the...more
Plan sponsors will need to take prospective and, possibly, retroactive action in order to ensure compliance with the guidance.
On August 29, the U.S. Department of the Treasury and the Internal Revenue Service (IRS)...more
High Court considers the constitutionality of DOMA, which may create tax-refund opportunities for employers and employees before April 15....more
Court of Federal Claims agrees with the IRS position that section 409A applies to discounted stock options; holding is important for compensatory stock option grants.
On February 27, the U.S. Court of Federal Claims...more