It’s no secret. Lots of people made poor decisions about their eligibility for the employee retention credit (“ERC”), which was passed by Congress to help businesses weather the pandemic-induced economic downturn. Apart from...more
The Internal Revenue Service (“IRS”) announced yesterday (October 26, 2020) the following dollar limits applicable to tax-qualified plans for 2021...more
The Internal Revenue Code mandates that individuals receive annual required minimum distributions (“RMDs”) from employer tax-qualified retirement plans and IRAs. Until recently, RMDs had to begin by the April 1st following...more
In a recent announcement (Notice 2020-46), the Internal Revenue Service (“IRS”) provided guidance to employers for how to exchange employee elections to forego vacation, sick, or personal leave for cash payments that the...more
The Internal Revenue Service (“IRS”) announced today (November 6, 2019) the following dollar limits applicable to tax-qualified plans for 2020:
The limit on the maximum amount of elective contributions that a person may make...more