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Labor & Employment Nonprofits Tax

Read need-to-know updates, commentary, and analysis on Labor & Employment issues written by leading professionals.

UPDATE: President Trump Signs “Johnson Amendment” Executive Order Limiting Treasury’s Actions Against Religious Organizations...

On May 4, 2017, President Trump signed an executive order that directs the executive branch to limit its enforcement of the “Johnson Amendment.” As previously reported, the Johnson Amendment prohibits organizations that are...more

IRS Announces End Date for 403(b) Remedial Amendments

Many tax exempt employers sponsor Section 403(b) retirement plans to help their employees save money for retirement. A 403(b) plan offers the ability for an employee to make pre-tax contributions to the plan (similar to the...more

IRS Warns Schools of Dangerous Email Scam

by Shipman & Goodwin LLP on

On March 28, 2017, the IRS warned schools, universities, government entities and tax exempt organizations of a dangerous email scam currently circulating nationwide and targeting employers. According to the IRS, the scammer...more

IRS Issues Warning About W-2 Cyber-Scams, Especially for Schools, Nonprofits and Tribal Organizations

by Jackson Lewis P.C. on

On February 2, 2017, the IRS issued a warning to all employers regarding the resurgence of a W-2 based cyber scam. The scam, which targets the corporate world during tax season, is currently “spreading to other sectors,...more

IRS Announces the Last Day of the Remedial Amendment Period for 403(b) Plans

The Internal Revenue Service recently issued Revenue Procedure 2017-18, which provides that the last day of the remedial amendment period for Code Section 403(b) retirement plans will be March 31, 2020. As discussed below,...more

IRS Warns Schools of Targeted W-2 Phishing Scams

by Shipman & Goodwin LLP on

Originally published in the IRS EO Update: e-News for Charities & Nonprofits newsletter - February 3, 2017. The Internal Revenue Service, state tax agencies and the tax industry issued an urgent alert today to all...more

Executive Compensation Alert: IRS Filing and Reporting Requirements for ISO Exercises and ESPP Stock Transfers

by Fenwick & West LLP on

This Client Alert is intended to remind you of certain year-end reporting requirements under Section 6039 of the Internal Revenue Code of 1986, as amended (the “Code”), with respect to stock issued to employees (or former...more

New York City Ramps Up Efforts to Enforce the Prevailing Wage Requirement of Its 421-a Affordable Housing Tax Exemption

by FordHarrison on

Owners of 421-a tax exempt buildings and developments should practice extreme caution when considering responding (or failing to respond) to the recent notices (Notices) sent by the City of New York Department of Housing...more

Recaps from Proskauer’s 21st Annual Trick of Treat Tax Exempt Seminar

Proskauer’s 21st Annual Trick or Treat Seminar was held on Thursday, October 27. The Seminar discussed: Best Practices for Document Retention: One Size Does Not Fit All...more

IRS Clarifies Benefit Coverage Requirements for Employees of Tax-Exempt Disregarded Entities

by Robinson & Cole LLP on

The Internal Revenue Service (IRS) recently issued General Counsel Memorandum 201634021 (Memorandum), clarifying benefit coverage requirements for employees of a disregarded LLC wholly owned by a single member tax-exempt...more

Changes to Compensation Rules for Tax-Exempt Hospitals

by Poyner Spruill LLP on

The IRS has proposed new rules that will require tax-exempt hospitals (and other tax-exempt entities) to review a variety of compensation arrangements to avoid unintended tax consequences. This article will provide a brief...more

New IRS Guidance on Deferred Compensation for Tax-Exempt and Governmental Employers

Tax-exempt and governmental employers do not pay Federal income tax and therefore, unlike for-profit entities, are not affected by the timing of tax deductions relating to the payment of compensation. Tax authorities are...more

IRS Says Employees of Disregarded Single-Member LLC May Participate in Parent’s 403(b) and 457(b) Plans

by Seyfarth Shaw LLP on

Seyfarth Synopsis: A recently published IRS memorandum provides that employees of a single-member LLC treated as a disregarded entity must be allowed to participate in a section 403(b) plan sponsored by its parent 501(c)(3)...more

New IRS Guidance: Treatment of Disregarded Single Member LLC Employees in the 403(b) and 457(b) Plans of the Tax-Exempt Member of...

The Internal Revenue Service (IRS) recently released General Counsel Memorandum 201634021 (“Memorandum”) concluding that the employees of a disregarded single member limited liability company (SMLLC) (1) must be allowed to...more

IRS Guidance on Section 457: What Non-Profit and Governmental Employers Need to Know (Part 2)

by Poyner Spruill LLP on

We're back with the second installment in our series on the IRS's Section 457 proposed rules. The first alert covered Section 457(f) basics and discussed the meaning of "deferred" compensation....more

A New Landscape - Compliance clarifications and planning opportunities for governmental and tax-exempt employers sponsoring...

On June 22, 2016, the Internal Revenue Service (IRS) published its long-awaited proposed regulations (the Proposed Regulations) under Section 457(f) of the Internal Revenue Code (the Code). Section 457(f) governs the taxation...more

IRS Guidance on Section 457: What Non-Profit and Governmental Employers Need to Know (Part 1)

by Poyner Spruill LLP on

There has been a lot of buzz recently about the long-awaited proposed rules issued by the Internal Revenue Service under Internal Revenue Code Section 457. Section 457 only applies to non-profit and governmental employers and...more

New Proposed Regulations for Section 457(f) Nonqualified Deferred Compensation Arrangements of Non-Profit and Governmental...

The Internal Revenue Service recently released long anticipated proposed regulations (the “Proposed Regulations”) governing deferred compensation arrangements maintained by tax-exempt organizations and governmental entities...more

Changes to Compensation Rules for Tax-Exempt Entities

by Poyner Spruill LLP on

Special rules apply to compensation arrangements of tax-exempt entities. If the arrangement does not comply with the rules, then the amount of compensation subject to the arrangement is taxed to the employee as soon as it is...more

New Proposed 457 Regulations May Impact Deferred Compensation Arrangements Maintained by Tax-Exempt and Governmental Employers

by Sherman & Howard L.L.C. on

On June 21, 2016, concurrent with its issuance of proposed regulations under Code section 409A, the IRS also issued proposed regulations under Code section 457, which address deferred compensation arrangements covering...more

Proposed Section 409A Regulations Would Clarify Separation from Service Analysis in Connection with Change in Status From Employee...

by Proskauer - Tax Talks on

Pursuant to the final regulations under Section 409A of the Internal Revenue Code of 1986, as amended, a termination of employment generally occurs at such time as the employer and employee reasonably anticipate that the...more

Cautionary Observations from the Proposed 457 Regulations

by Bryan Cave on

After more than nine years of deliberations, the IRS has finally released proposed regulations governing all types of deferred compensation plans maintained by non-profit organizations and governmental entities. In...more

Good News! New 409A Regulations (Yes, Really!) – Part 1: Firing Squad

by Bryan Cave on

On the TV show Futurama, the aged proprietor of the delivery company Planet Express, Professor Hubert J. Farnsworth, had a habit of entering a room where the other characters were gathered and sharing his trademark line,...more

The Impact of Recently Proposed Regulations on Ineligible Nonqualified Plans Under Internal Revenue Code § 457(f)

The Treasury Department and the Internal Revenue Service recently issued comprehensive proposed regulations governing nonqualified plans subject to tax under Internal Revenue Code § 457. Code § 457 prescribes the tax rules...more

IRS Issues Proposed Regulations Under Code Section 457 Affecting Deferred Compensation Plans of Tax-Exempt Organizations

by Littler on

The Internal Revenue Service recently issued proposed regulations under Section 457 of the Internal Revenue Code (the “Code”) that prescribe rules regarding deferred compensation plans sponsored by state and local governments...more

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