The Internal Revenue Service delivered an unexpected surprise to taxpayers in Massachusetts and Maine this week by postponing to February 15, 2024 the deadline for various individual and business tax returns and tax payments...more
9/29/2023
/ Business Ownership ,
Business Taxes ,
Department of Labor (DOL) ,
Filing Deadlines ,
Hurricane Season ,
IRS ,
Natural Disasters ,
State and Local Government ,
Tax Planning ,
Tax Relief ,
Tax Returns
SECURE 2.0 Act -
As part of a large year-end piece of legislation, the provisions known as SECURE 2.0 Act of 2022 (“SECURE 2.0”) were enacted into law. SECURE 2.0 represents a broadly bipartisan piece of legislation that...more
3/7/2023
/ 401k ,
Americans with Disabilities Act (ADA) ,
CARES Act ,
Covered Entities ,
Department of Labor (DOL) ,
Distribution Rules ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
EPCRS ,
Flexible Spending Accounts ,
Health Insurance Portability and Accountability Act (HIPAA) ,
HRA ,
Internal Revenue Code (IRC) ,
IRS ,
Legislative Agendas ,
New Legislation ,
Non-Compete Agreements ,
PHI ,
Proposed Rules ,
Providing Urgent Maternal Protections for Nursing Mothers Act (“PUMP Act”) ,
SECURE Act ,
State Labor Laws ,
Training
On December 27, 2020, the Consolidated Appropriations Act, 2021 ("CAA" or the "Act") was signed into law. The 2,100+page CAA is made up of 32 Divisions. The significant business and individual taxpayer related provisions are...more
1/26/2021
/ CARES Act ,
Consolidated Appropriations Act (CAA) ,
Economic Aid Act ,
Economic Injury Disaster Loans ,
Employee Retention ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Income Taxes ,
IRS ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Retirement Plan Providers ,
Tax Deductions
As reported in our recent Client Alert, the IRS continued its series of tax relief announcements related to the COVID-19 emergency when it issued Notice 2020-23. This alert provides more detailed guidance on IRS Notice...more
Yesterday, the Internal Revenue Service issued Notice 2020-23, which updates and amplifies its earlier guidance under Notice 2020-18 and Notice 2020-20, discussed in our earlier Client Alert.
Compared to previous grants of...more
We want to share with you some recent informal developments from the Internal Revenue Service that could be concerning for sponsors of retirement plans.
VCP Rumors – A report recently emerged that the IRS is considering a...more
The SECURE Act: What It Is And What It Is NOT -
As part of a large year-end piece of legislation, the provisions known as the Setting Every Community Up for Retirement Security Act (the “SECURE Act”) were enacted into...more
1/29/2020
/ 401k ,
403(b) Plans ,
Contribution Limits ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Form 5500 ,
Health Savings Accounts ,
Individual Retirement Account (IRA) ,
IRS ,
Multiple Employer Plan (MEP) ,
Required Minimum Distributions ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Training Requirements
A new ruling was released last Friday by the Internal Revenue Service that presents a very intriguing possibility for employers looking to economically support employees with student debt burdens. The idea is that an employee...more
NEW TAX LAW MAKES CHANGES TO COMMUTING BENEFITS -
...The Tax Cuts and Jobs Act of 2017 (“TCJA”) generally eliminates employer deductions for commuter transportation and parking fringe benefits. This includes deductions...more
2/22/2018
/ Affordable Care Act ,
Bi-Partison Balanced Budget Act (BBA) ,
Compensation & Benefits ,
Corporate Taxes ,
Employee Benefits ,
Income Taxes ,
IRS ,
New Legislation ,
Pass-Through Entities ,
Reporting Requirements ,
Retirement Plan ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Rates ,
Threshold Requirements ,
Wage and Hour
New Relief for Small Employer Health Reimbursement Arrangements -
As mentioned in prior advisories, the Departments of Labor, Health and Human Services and Treasury have taken the position that employers cannot reimburse...more
1/24/2017
/ 21st Century Cures Act ,
Affordable Care Act ,
Benefit Plan Sponsors ,
Covered Entities ,
Employee Benefits ,
Excise Tax ,
Filing Deadlines ,
Form 1094 ,
Form 1095 ,
HRA ,
IRS ,
Medicare Part B ,
Medicare Part D ,
Qualified Small Employer Health Reimbursement Plan (QSEHRAs) ,
Self-Insured Health Plans ,
W-2