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Tax Labor & Employment

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

Leveraging – A Hidden Advantage Of Roth 401(k) Accounts

by Fox Rothschild LLP on

There have been numerous articles published about the advantages of Roth IRAs and Roth 401(k) accounts. While no tax deduction is available for contributions to Roths, in general, distributions of both principal and earnings...more

IRS Announces Benefits Relief For Hurricane Victims

by Fox Rothschild LLP on

In the wake of Hurricane Harvey, the IRS provided some employee benefits-related relief to plan sponsors and participants. That relief was then extended to the victims of Hurricane Irma....more

French Elections Pave Way for Labor, Tax Reforms

In the months following the election of President Emmanuel Macron, who is perceived as pro-business, as well as a parliamentary election in which the new president’s party won the majority, companies and entrepreneurs have...more

IRS, PBGC and DOL Provide Additional Hurricane Relief

The IRS issued an announcement paralleling the relief granted to Hurricane Harvey victims to those in Florida affected by Hurricane Irma. Announcement 2017-13 (the “Announcement”) relaxes hardship distribution standards for...more

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

Dealing with Disaster: Issues and Relief for Employee Benefit Plans

by Alston & Bird on

In the period following natural disasters such as Hurricanes Harvey and Irma, employer plan sponsors will be faced with any number of hardship-related employee benefit plan administration issues. Many of these involve...more

Responding To SCDEW: The Payoff For Employers

There are several ways that employers can keep their unemployment insurance (UI) tax rate down. First, it is beneficial to learn how the South Carolina Department of Employment and Workforce (“SCDEW”) determines the...more

Section 4980H Large Employer Penalties – IRS Signals the Health Coverage Penalties Remain in Force

by Snell & Wilmer on

Many employers were hopeful that the Code Section 4980H penalties would be repealed now that Republicans control Congress and Trump is in the White House. To date, that has not happened, nor has the IRS announced it will not...more

Staying Out of Trouble: How to Avoid IRS and DOL Audits

by McDermott Will & Emery on

The Internal Revenue Service (IRS) and the Department of Labor (DOL) conduct different types of benefit plan audits, such as retirement plans and health and welfare plans, and for various reasons. In a presentation, Jeffrey...more

More Hurricane Relief & Expansion of DoL Relief to Hurricane Irma

by Winstead PC on

Leave donation program was extended to assist victims of Hurricanes Irma today. The new leave donation program permits an employee to donate his leave to a charitable organization that is eligible to receive charitable...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

Donating To Employees Affected By Hurricane Harvey

by Strasburger & Price, LLP on

According to a recent estimate from the U.S. Chamber of Commerce, companies have pledged more than $157 million to relief efforts addressing the devastation of Hurricane Harvey. But when your own employees are the people in...more

Hurricane Hardship and Loan Relief Also Extended to Hurricane Irma, Pension Relief and a Cybersecurity Update

by Winstead PC on

The Internal Revenue Service (the “Service”) issued and announcement providing relief from verification of the qualification of an individual’s request for a hardship withdrawal or a loan in order for a person to obtain the...more

Help for Hurricane Harvey…and Irma Too

by Bryan Cave on

Employers seeking ways to help employees and their family members affected by Hurricanes Harvey or Irma should consider the various relief made available by the Internal Revenue Service under Announcements 2017-11 and 2017-13...more

“Understanding Your IRS Notice or Letter”

by Balch & Bingham LLP on

That’s the title of a web page that employers may find helpful upon receipt of an IRS communication asserting liability for employer mandate taxes under Code § 4980H. It should have an official notice (“CP”) or letter...more

IRS Will Enforce Employer Mandate Regardless Of Any Executive Orders

by Fisher Phillips on

You may recall that President Trump signed an executive order on the day of his inauguration directing all agencies to minimize the economic burden of the Affordable Care Act (ACA) pending its repeal. You may recall also that...more

My Business Owes IRS Employment Taxes: What Do You Do? IRS Employment Taxes and “Trust fund Recovery Penalty” (Part 7)

by McNair Law Firm, P.A. on

Businesses that have employees and pay wages and salaries must withhold federal employee income taxes and the employee’s share of federal employment taxes (FICA) from these wages and salaries. The employer must “match” the...more

Qualified Disaster Relief Payments by Employers Not Taxable Income to Employees

by McGuireWoods LLP on

Hurricane Harvey caused record-breaking devastation to Texas, followed quickly by Hurricane Irma, one of the strongest Atlantic storms in history, wreaking destruction in the southeastern United States. In the midst of these...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

Hurricane Recovery Client Alert: Establishing a Charitable Leave Donation Program

by Morgan Lewis on

Tips on setting up a pooled fund of employee leave by giving employees the option of donating leave that can be converted into cash contributions to charities assisting the victims of Hurricane Harvey....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

Employment Law This Week®: EEOC Pay Data Collection Requirement, DOL Overtime Rule, Parental Leave Policies, NYS Paid Family Leave...

by Epstein Becker & Green on

We invite you to view Employment Law This Week® - a weekly rundown of the latest news in the field, brought to you by Epstein Becker Green. We look at the latest trends, important court decisions, and new developments that...more

Hurricane Harvey Relief for Employees and Employers

by Locke Lord LLP on

Employers seeking to ease the hardships faced by employees in the aftermath of Hurricane Harvey may be looking for ways to provide aid to their own workforces. Qualified Disaster Relief Payments - Generally, a payment...more

New York Paid Family Leave: Tax Implications and Guidance

by Hinshaw & Culbertson LLP on

The New York State Department of Taxation and Finance (“Department”) recently released its guidance on the tax implications of the New York Paid Family Leave Benefits (“PLF”) law for New York employees, employers, and...more

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