Summary: On October 31, 2013, the Internal Revenue Service (IRS) issued Notice 2013 -71 (the "Notice"), which made two significant changes affecting the administration of cafeteria plans under section 125 of the Internal...more
As promised, the Internal Revenue Service has prescribed special procedures that employers may use in order to retroactively correct FICA withholding and payment following the Supreme Court's decision earlier this year in...more
On September 18, 2013, the Department of Labor's Employee Benefits Security Administration (EBSA) issued Technical Release 2013-04 (the "Release"), adopting the treatment of same-sex marriages for purposes of ERISA (and for...more
9/20/2013
On August 29, 2013, the Internal Revenue Service issued Revenue Ruling 2013-17, under which same-sex couples will be treated as married for all federal tax purposes, including income and gift and estate taxes, if their...more
One of the changes made by the American Taxpayer Relief Act ("ATRA") was to restore the $240 monthly limit on employer-provided transit passes or commuting transportation, which had reverted to $125 as of January 1, 2012. ...more
As most everyone knows by now, Congress adopted, and President Obama signed, legislation – the American Taxpayer Relief Act (the "Act") – that resolves many elements of the so-called "fiscal cliff," i.e., the various tax...more
1/5/2013
/ Adoption ,
Alternative Minimum Tax ,
American Taxpayer Relief Act ,
Charitable Donations ,
CLASS Act ,
Dependent Care ,
Educational Assistance Programs ,
Fiscal Cliff ,
Individual Retirement Account (IRA) ,
Roth Conversions ,
Tax Extensions
In Announcements 2012-45 and 2012-46, the IRS has temporarily eased the eligibility requirements for employers to participate in the employment-tax Voluntary Classification Settlement Program ("VCSP") that was begun last...more
Executive Summary: In addition to the other various employee benefit plan relief provided as a result of Hurricane Sandy, on November 16 the Internal Revenue Service announced, in Announcement 2012-44, that certain...more
11/19/2012