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

The Trump threat to 401(k) and the reality of it

by Ary Rosenbaum on

When Donald Trump was elected President last November, there were quite a few people who promised gloom and doom as if it was the end of our republic. Despite the tweets and the drama, that really hasn’t panned out yet. Many...more

What They Don’t Know As A 401(k) Sponsor May Hurt Them

by Ary Rosenbaum on

When I worked at a semi-prestigious law firm, one of the named partners (whose son is a Congressman who was kind enough to offer me a cannoli at a Knicks-Clippers game a few years ago) asked me what my practice was. I told...more

401(k)/403(b) Loan Borrowers – Check Your Paystubs!

by Foley & Lardner LLP on

A recent tax court case, Louelia Salomon Frias, v. Commissioner, TC Memo 2017-139, illustrates why it is good practice to verify that employee loan repayments have been timely deducted. Plan Loan Requirements. An employer...more

Internal Revenue Service Provides Helpful Relief to Hurricane Victims

Announcement 2017-11 (Announcement) provides that a tax-qualified employer retirement plan may treat a distribution to a current or former employee covered by the Announcement as on account of hardship or an unforeseeable...more

IRS Issues Hurricane Harvey Relief

by Snell & Wilmer on

In Announcement 2017-11, the IRS relaxed standards for hardship distributions and loans from qualified retirement plans for those affected by Hurricane Harvey. This relief applies to employees or former employees and their...more

Focusing Just On Fees Can Make 401(k) Plan Sponsors Neglect Other Problems

by Ary Rosenbaum on

Thanks to regulations requiring fee disclosure, media coverage, and a lot of litigation, 401(k) fees are still a huge topic for plan sponsors. Retirement plan providers talk about fees all the time because it’s a huge...more

Hurricane Harvey and Tropical Storm Harvey: What Kind of Relief May Employers Offer to Affected Employees? What About Hurricane...

by Epstein Becker & Green on

Employers with employees and operations impacted by Hurricane and Tropical Storm Harvey are asking what type of compensation, employee benefits, and tax relief may be available to them and their affected employees. There are...more

Hurricane Harvey Relief for Employees

by Bracewell LLP on

Following Hurricane Harvey and its resulting destruction, many employees are in need of financial assistance and/or early access to retirement funds. We will highlight how employers can make direct financial assistance...more

Hurricane Harvey Relief for Employee Benefit Plans

by McDermott Will & Emery on

The Internal Revenue Service and the Department of Labor relaxed some deadlines for eligible employee benefit plans and expanded the availability of withdrawals and loans for eligible defined contribution plan participants in...more

DOL and IRS Issue Guidance for Employee Benefit Plans Impacted by Hurricane Harvey

In the wake of massive floods caused by Hurricane Harvey, the Department of Labor (DOL), Internal Revenue Service (IRS), and Pension Benefit Guaranty Corporation (PBGC) have issued initial employee benefit plan guidance. The...more

IRS Provides for Expedited Loans and Hardship Distributions from Retirement Plans

by Jackson Walker on

The IRS announced last week that it will allow victims of Hurricane Harvey and their families to more easily access assets held in employer-sponsored retirement plans. Specifically, the IRS will allow certain retirement plans...more

IRS and DOL Provide Relief for Plan Sponsors and Participants Affected by Hurricane Harvey

by Seyfarth Shaw LLP on

The Internal Revenue Service (IRS) and Department of Labor (DOL) issued temporary relief on deadlines and procedural requirements applicable to employee benefit plans for employers impacted by Hurricane Harvey. ...more

Avoid Mistakes Other Plan Providers Make

by Ary Rosenbaum on

Being a retirement plan provider is tough. I know because as an ERISA attorney, I am one and I play on TV. There are many mistakes to be made as a retirement plan provider, so the point is to try to avoid as many mistakes as...more

IRS Eases Rules for Plan Loans and Hardship Distributions After Hurricane Harvey

by Ballard Spahr LLP on

The IRS has released Announcement 2017-11 to provide relief to taxpayers from requirements for loans and hardship distributions for participants of qualified retirement plans who have been adversely affected by Hurricane...more

Beltway Buzz - August, 2017 #2

Congress—Fall Preview. Hopefully, our representatives have been getting plenty of rest in August, because when they return to D.C. on September 5, they will begin a work period that is expected to be extremely busy. First, as...more

Employee’s Maternity Leave Resulted in a “Deemed Distribution” of 401(k) Plan Loan

by McNair Law Firm, P.A. on

A recent Tax Court decision suggests that employers may want to review their 401(k) plan loan programs and payroll practices. In Louelia Salomon Frias and Mervyngil Salomon v. Commissioner, TC Memo 2017-139 (July 11, 2017),...more

The Plan Providers That A 401(k) Plan Sponsor Needs

by Ary Rosenbaum on

When an employer decides to start a 401(k) plan, one of the biggest problems out there is that they don’t know who they need. They know that they need someone to help on their retirement plan, but they don’t know who. One of...more

Clues That There are Problems With A 401(k) Plan Provider

by Ary Rosenbaum on

When it comes to illnesses and diseases, there are usually warning signs out there. Whether you can come out healthy from a debilitating illness or disease is dependent on whether you can tell the warning signs. I’ve seen...more

Mistakes An Employer Should Avoid Starting A 401(k) Plan

by Ary Rosenbaum on

I’m a firm believer that you need to get off on the right foot if we start something new. Otherwise, you have tough time recovering. When I talk about getting off on the wrong foot, I always remember wanting to get involved...more

Marketing For Plan Providers: What It Can Do And What It Can’t

by Ary Rosenbaum on

For retirement plan providers, good marketing is essential. It’s so essential that there are marketing gurus out there that work in the retirement plan space to help providers out like Sheri Fitts and Rebecca Hourihan who do...more

Bonus can cost you more than one way

by Ary Rosenbaum on

When I first started working as an ERISA attorney in September 1998, I was pleasantly surprised when my boss Harvey Berman gave me a $300 bonus that December for the Holidays. That was the last bonus I ever got as an...more

The Malta Pension Plan – A Supercharged, Cross-Border Roth IRA

by Bilzin Sumberg on

In the cross border setting, two of the principal goals in international tax planning are (i) deferral of income earned offshore and (ii) the tax efficient repatriation of foreign profits at low or zero tax rates in the...more

401(k) Plan Sponsors: It’s Time To Wake Up

by Ary Rosenbaum on

Anytime I travel, I ask for a wake up call even though my IPhone will blare “Eat the Rich” by Aerosmith at the same time because you can never be too careful. When I travel around the country to speak, I want to make sure I...more

Related-Party Provisions Prevent Deduction by S Corp Shareholders - Tax Update Volume 2017, Issue 4

by Pepper Hamilton LLP on

Many routine transactions occur between related parties, including the payment or accrual of interest on indebtedness, license fees, salary or benefits to employees and/or shareholders, and trade invoices. The Tax Court...more

Getting into trouble with the DOL and the IRS maybe just bad luck

by Ary Rosenbaum on

As an ERISA attorney for almost 19 years, I have seen a lot of strange things that plan sponsors have done to risk the ire of the Internal Revenue Service (IRS) and the Department of Labor (DOL)...more

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