Internal Revenue Service Employee Benefits

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
News & Analysis as of

IRS Issues Final and Proposed Hybrid Plan Regulations

On September 19, 2014, the Internal Revenue Service ("IRS") released additional final regulations clarifying the rules regarding hybrid defined benefit pension plans. At the same time, the IRS also issued proposed regulations...more

IRS Announces Impending Tighter Enforcement of Employer-Provided Meals, Fringe Benefits

Internal Revenue Code § 119 allows employers to deduct 100% of the value of meals provided to employees when they are for the convenience of the employer, and they are furnished on the business premises of the employer. Meals...more

Monthly Benefits Update - September 2014

IRS Issues Guidance on How to Deal With a Change to an Employee’s Measurement Period Under ACA Employer Mandate - The Internal Revenue Service (IRS) issued Notice 2014-49, which proposes an approach for dealing with...more

Does your Company’s Retirement Plan Need to be Restated?

Between May 1, 2014 and April 30, 2016, all pre-approved defined contribution plans (e.g. most 401(k), profit sharing, money purchase and other qualified plans) must be restated to reflect the provisions of the Pension...more

IRS Reminds Employers Value of “Free” Parking May Be Taxable Fringe Benefit

A recent Information Letter issued by the Internal Revenue Service (IRS) on the taxation of employer-provided parking, although noncontroversial, serves as a useful reminder that “free” parking for employees may result in...more

IRS Expands Permissible Mid-Year Cafeteria Plan Elections

On September 18, 2014, the IRS issued Notice 2014-55, which expands permissible mid-year election changes under “cafeteria plans” to address two specific situations that have arisen in connection with the implementation of...more

When Did You Last Amend Your Section 125 Cafeteria or Flexible Benefit Plan? Now May Be A Good Time to Dust It Off and Update It

Section 125 Plans, which are commonly referred to as either cafeteria plans or flexible benefit plans, are much loved, and needed, if you want to allow employees to pay health insurance and other premiums on a pre-tax basis....more

ERISA Litigation Review

The courts have been busy in 2014, addressing a variety of issues in the employee benefits field in decisions that impact everyone from union travelers to ESOP fiduciaries. This advisory summarizes a selection of the 2014...more

Update on Same-Sex Employee Benefits

In recent months employers around the country, have been scrambling to keep up with developments with respect to the evolving rights of employees in same-sex relationships. This articles touches on some recent guidance in...more

DOL Updates Procedures for Locating Missing Participants in Defined Contribution Plans

The U.S. Department of Labor recently released Field Assistance Bulletin 2014-01 (the “FAB”), which updates DOL’s guidance on locating missing participants when a defined contribution plan, such as a 401(k) plan, is...more

The Affordable Care Act—Countdown to Compliance for Employers, Week 20: 9.5% ? 9.56% (And Why It Matters to Applicable Large...

While employers sometimes view the Affordable Care Act’s employer shared responsibility (or “pay-or-play”) rules in isolation, they don’t operate that way. Instead, they exist side-by-side with other provisions of the Act. In...more

Update For Retirement Plans Post-Windsor

Now that some of the dust has settled on the U.S. Supreme Court’s decision in U.S. v. Windsor, employers who haven’t done so already should take immediate steps to review their retirement plan documents and administrative...more

Employee Benefits Developments - July 2014

In May 2014, the Departments of Labor (DOL), Health and Human Services (HHS), and Treasury issued Frequently Asked Questions (FAQs) Part XIX, addressing, among other subjects, the following: The newly revised DOL model...more

Appellate Courts Split on Validity of Key ACA Regulation

In two important decisions issued July 22, 2014, both addressing the validity of a key regulation promulgated under the Patient Protection and Affordable Care Act (ACA), two federal appeals courts reached opposite...more

Contrasting Opinions in Health Care Law Rulings

This week, the U.S. Court of Appeals for the D.C. Circuit and the Fourth Circuits released opinions regarding the federally run health care exchanges under the ACA. Specifically, the cases explore subsidies provided to...more

The Affordable Care Act—Countdown to Compliance for Employers, Week 24: Can Offers of Group Health Plan Coverage Under Code...

The Employer Shared Responsibility provisions of the Affordable Care Act (“ACA”) generally require “applicable large employers” (i.e., employers who employed at least 50 full-time and full-time equivalent employees on...more

Recent Employee Benefits Developments

Amending Retirement Plans to Recognize Same-Sex Marriages Plan sponsors need to review retirement plan documents and operations to determine whether changes are needed in response to last year's Supreme Court decision in U.S....more

Employee Benefits: Important Wellness Plan and Mental Health/Substance Use Disorder Parity Effective Dates Have Arrived!

Employers and insurers offering medical plans: take note! Two important final regulations issued jointly by the IRS, DOL and HHS (the “Departments”) apply to plan years (or, in the individual market, policy years) beginning...more

Monthly Benefits Update

In Burwell v. Hobby Lobby, the Supreme Court held that regulations under the Affordable Care Act that require employer group health plans to provide contraceptive coverage violate the Religious Freedom Restoration Act (RFRA)....more

Executive Briefing

In its decision on Templemire v. W&M Welding, Inc., the Missouri Supreme Court imposed a minimalist “contributing factor” causation standard on workers’ compensation retaliation claims. The decision overrules two precedents,...more

Employee Benefits Developments - June 2014

In This Issue: - Rulings, Opinions, Etc. ..Validating Rollover Contributions: New Guidance - Case ..Stock Drop Case Development: The Supreme Court Rejects The Presumption Of Prudence ..Dividend...more

Still Reimbursing Employees For Health Insurance Premiums? You May Be Subject To Significant Penalties!

Until very recently, it was not uncommon for employers to reimburse employees for substantiated premiums paid for individual health insurance coverage. Many small employers saw this as a viable alternative to group...more

Limited Time Offer! IRS Announces "Amnesty Program" for Flawed Correction of Late Annual Reports

Both the Department of Labor ("DOL") and the Internal Revenue Service ("IRS") can assess significant penalties if annual reports are not timely filed for certain retirement and health and welfare plans. However, years ago the...more

The Affordable Care Act—Countdown to Compliance for Employers, Week 28: The Logic, Calculus, and Limits of “Skinny” Plans

It was just over a year ago that the Wall Street Journal published an article entitled, “Employers Eye Bare-Bones Health Plans Under New Law,” which highlighted a compliance strategy to minimize employer exposure for...more

Executive Briefing - May 2014

In This Issue: - ADA Reasonable Accommodation Requests: Avoid Rigid Policies and Consider Technology - IRS Issues Guidance on Qualified Plan Amendments Regarding Same Sex Spouses - OSHA to Refer Untimely...more

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