Tim Goodman

Tim Goodman

Dorsey & Whitney LLP

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Minnesota Issues Revenue Notice Regarding Apportionment of Compensation Paid to Nonresident Corporate Board Members

On August 25, 2014, the Minnesota Department of Revenue released Revenue Notice 14-02, which provides an alternative method of apportioning compensation earned by certain corporate directors who are not residents of Minnesota...more

9/16/2014 - Apportionment Board of Directors Directors Executive Compensation Income Taxes

Quirky Question #234, Selling Accrued Vacation

Question: Our company allows employees to sell up to 40 hours of their accrued PTO (accrued vacation) each year. If an employee elects to sell the accrued PTO, we pay it out in a lump sum at the end of the year. Does...more

7/14/2014 - Accrued Benefits IRS PTO Vacation Pay

Impact of the Supreme Court’s Hobby Lobby Stores Decision

On June 30, 2014, in Hobby Lobby Stores, the Supreme Court held that corporations are persons for purposes of the Religious Freedom Restoration Act (“RFRA”) and, as a result, if a corporation has a sincerely held religious...more

7/3/2014 - Affordable Care Act Burwell v Hobby Lobby Contraceptive Coverage Mandate Employer Mandates ERISA HHS Hobby Lobby Religious Freedom Restoration Act SCOTUS

Supreme Court Rejection of Duty of Prudence Presumption—What Does it Mean for Retirement Plans?

On June 25, 2014, the Supreme Court, in a unanimous decision, ruled in Fifth Third Bancorp v. Dudenhoeffer that there is no “presumption” of prudence extended to fiduciaries of employer stock ownership plans (“ESOPs”) in...more

6/30/2014 - ERISA ESOP Fiduciary Duty FIfth Third Bancorp v Dudenhoeffer Fifth Third Mortgage Company SCOTUS Stock Drop Litigation US Bancorp

Quirky Question #231, Is it Really Employee Appreciation if the Gift Card is Taxable?

Question: Our company awards prizes at holiday parties and, from-time-to-time, at employee appreciation events. The prizes range from company logo t-shirts to $50 gift cards and cameras worth about $125. Do we need...more

6/24/2014 - Gift-Cards Income Taxes W-2

IRS Begins 409A Audit Initiative

IRS representatives have recently announced that the IRS has begun a compliance initiative project to check compliance with section 409A of the Internal Revenue Code (“409A”). ...more

5/23/2014 - Audits Compliance Deferred Compensation IRS Section 409A

Avoiding the Top Retirement Plan Mistakes - Checklist

In This Presentation: - Eligibility Errors - Vesting Errors - Compensation Errors - Distribution Errors - Loan Errors - Testing Errors - Other Errors and Things to Consider Excerpt from...more

5/22/2014 - Employee Benefits Retirement Retirement Plan

Utah Same-Sex Marriages and Private Employers

Recent Federal Court decisions regarding Utah’s same-sex marriage laws have placed private employers in unchartered waters. Many private employers are now asking themselves: Am I required to extend benefits to same-sex...more

1/13/2014 - Benefit Plan Sponsors Employee Benefits Employer Liability Issues Marriage Same-Sex Marriage

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