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.
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The Internal Revenue Code provides for various dollar limitations on benefits, contributions, and compensation for tax-qualified employee benefit plans. Recently, the Internal Revenue Service announced cost of living...more
On November 14, 2013, the Internal Revenue Service issued final regulations modifying some of the conditions for making mid-year changes to employer matching or nonelective contributions under plans that utilize the...more
The IRS announced the Year 2014 cost-of-living adjustments for various provisions affecting employee benefit plans. The following table shows certain Year 2014 limits and those from prior years. ...more
The Internal Revenue Service has announced the 2014 cost of living adjustments to various limits on employee benefit plans. The adjusted amounts generally apply for plan years beginning in 2014. ...more
The Internal Revenue Service (IRS) recently announced cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans for 2014. Although many dollar limits currently in...more
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In response to the Supreme Court’s decision in United States v. Windsor that restricting the federal definition of marriage to heterosexual marriage is unconstitutional, the Department of the...more
Ever since the U.S. Supreme Court struck down the central provision of the Defense of Marriage Act (DOMA) defining marriage as between a man and a woman, employee benefit plan sponsors have been seeking guidance on how to...more
On January 2 , 2013, President Obama signed the American Taxpayer Relief Act of 2012 (H.R. 8) (the “Relief Act”) into law. While the principal intention of the Relief Act was to avert the key elements of the “fiscal cliff” by...more
The Internal Revenue Service has announced cost of living adjustments (COLA) applicable to dollar limitations for retirement plans for 2013.
Employers should make sure that the individuals in charge of their payroll...more
Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more
The newly enacted American Taxpayer Relief Act (H.R. 8) includes a significant new opportunity to perform “in-plan” conversions of pretax dollars to Roth (after-tax) dollars of funds held in defined contribution retirement...more