Labor & Employment Tax Business Organization

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How 401(k) Plan Sponsors Can Improve Their Plan At Little Cost

There are many ways that a retirement plan sponsor can improve their 401(k) plan, but they usually balk when it comes to the time and the money needed to rectify it. With so many issues regarding their business especially the...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

Retirement Plan “Hustlers” That Retirement Plan Sponsors Should Avoid

There are three important rules of life in the Nelson Algren novel, A Walk on The Wild Side: “Never play cards with a man called Doc. Never eat at a place called Mom's. Never sleep with a woman whose troubles are worse than...more

Introduction of the Empowering Employees through Stock Ownership (EESO) Act

On July 12, 2016, the Empowering Employees through Stock Ownership (EESO) Act (S. 3152) was introduced to the U.S. Senate by Sens. Mark R. Warner (D-VA) and Dean Heller (R-NV). The Act is intended to make it easier for...more

Concerns For Who You Pick As Your 401(k)’s TPA

I was very lucky that when I started as an ERISA attorney in 1998, I worked as a staff attorney for a third party administrator (TPA). It gave me insight and experience that I could never have gotten as an attorney working...more

Ten Key Legal Issues to Consider When Moving Stateside

Stateside - Even before the uncertainties following the Brexit referendum result, a move to the U.S. was an attractive proposition for high growth UK businesses. Common language, similar culture, access to capital and a...more

Mistakes A Retirement Plan Provider Should Avoid Making

The history of business is littered with big companies making huge mistakes that either forced them out of business or made them quite smaller. Just ask Kodak, who did nothing with the fact that they invented the first...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

Outsourcing and the Value Added Tax: Mexico’s Third Circuit Reminds Employers to Consult the Federal Labor Law

On July 15, 2016, the Third Circuit Court on Administrative Matters, acting in plenary session (based in Jalisco), published a Judicial Interpretation titled, “Provision of Independent Services: In order to determine whether...more

What Makes A 401(k) Plan A Target For Litigation

I’ve always been a big fan of 1970’s cinema and one forgotten classic is The Sting, starring Paul Newman, Robert Redford, and Robert Shaw. The title to the movie refers to the exact moment when the con artist finishes the...more

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

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

IRS Issues Drafts of Forms 1094-C, 1095-B and 1095-C for 2016

Last month, the IRS issued proposed changes to the ACA reporting and disclosure forms for 2016. As a reminder, Forms 1094-B and 1095-B are used by insurance providers to report on the number of individuals enrolled in health...more

What 401(k) Plan Sponsors Shouldn’t Forget

It’s easy to forget things. Heck, half of the things my wife tells me to do is forgotten by the afternoon. My wife often suggests that I keep a list of things I need to do so I don’t forget. Of course, I forget to keep lists....more

New IRS Guidance on Collection of TINs for ACA Information Reporting

Recently proposed IRS regulations aim to clarify lingering questions about steps employers with self-insured health plans must take to collect and report the taxpayer identification number (TIN) of covered individuals in...more

You Might Have A Problem With Your 401(k) Plan When….

There are many situations in life when you clearly have a problem such as leaving the stove on when you leave home, or when the next-door neighbor leased the house to a rock band looking for a place to practice. When it comes...more

We Received an Exchange Subsidy Notice…Now What?

The Affordable Care Act exchanges/marketplaces are required to notify employers of any employees who have been determined eligible for advance payments of the premium tax credit or cost-sharing reductions (i.e., subsidy) and...more

Proposed Treasury Regulations Provide Additional Flexibility, Clarity and Planning Opportunities to Sponsors of Deferred...

The IRS recently issued proposed regulations under Internal Revenue Code Section 457 that address, among other things, the interplay between Code Section 457(f) and Code Section 409A. Additionally, the IRS issued clarifying...more

Why 401(k) Plan Providers Should Push Automatic Enrollment

We have a retirement crisis in this country thanks to a Social Security program that has too many retirees to pay to, and the death of the pension plan in the private sector. The fact is that while 401(k) plans are an...more

Individuals Granted Profits Interests Are Treated as Partners, Not Employees

The Internal Revenue Service (the “IRS”) issued temporary and final regulations, effective May 4, 2016, clarifying the employment tax treatment of partners in a partnership that owns a disregarded entity (the “Final...more

Brazil tax court decision on withholding of individual income tax on employee stock options: key takeaways for companies

A recent decision by the Brazilian Federal Administrative Tax Court (CARF) partially settles the debate between Brazilian tax authorities and companies regarding the treatment of employee stock options for purposes of...more

Changes to Compensation Rules for Tax-Exempt Entities

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

Top 10 rules for compliant non-qualified deferred compensation

By Lori Jones Internal Revenue Code Section 409A regulates nonqualified deferred compensation (NQDC) plans and arrangements, which are commonly used to provide supplemental compensation to key executives. Complying with...more

Neglecting The Plan That Will Get 401(k) Sponsors Living on The Edge

When you don’t take care of your teeth, they end up rotting. When you don’t take care of your car, it stops running. When you don’t take care of your finances, you end up going broke. So it’s amazing how many 401(k) plan...more

Lies that 401(k) Plan Providers May Tell You

I’m a huge fan of Fleetwood Mac (the Stevie Nicks-Lindsey Buckingham years) and was able to see them twice on their last tour. One of my favorite songs of theirs is Little Lies. Christine McVie, who never gets the credit she...more

Reasonable Compensation Issues Remain On the IRS Radar Part II: S-Corporation Concerns

Our May 26, 2016 article, Reasonable Compensation Issues Remain on the IRS Radar ("Part I"), discussed how the IRS scrutinizes the reasonableness of compensation payments made to C-corporation shareholder-employees. As...more

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