Introduction. In mid-March, President Biden signed the American Rescue Plan Act of 2021 and included in its many provisions for providing COVID relief and economic stimulus is the six-month COBRA Premium Assistance (a/k/a...more
Employers should not overlook the income tax reporting and withholding compliance issues when providing incentives, rewards, bonuses – whether for vaccination, holiday gifts, safety programs, attendance, and the like. The...more
The IRS recently published two items of guidance to allow temporary changes to cafeteria plans. As a result of the guidance, employers may allow employees to make mid-year benefit election changes to respond to changed...more
Signed by President Trump on March 27, 2020, the CARES Act adds a few new tools to employers’ employee benefit arsenal. Many changes – such as the increase in plan loans limits and hardship distribution conditions – expand...more
For HR offices, December is typically a time to recover from open enrollment, tie up loose ends, and look forward to 2019. Lost in the busyness of the last few months may have been some retirement plan guidance from the...more
These days, the majority of mid-to-large employers use payroll service providers for ease of payroll recordkeeping and administration. These third party providers help ease the burden of calculating taxes and withholding,...more
When it comes to properly documenting property and cash donations, most charities are well-versed with the IRS’ substantiation rules. But equally as important to those rules are the disclosure requirements regarding quid pro...more
While we’re not even three full months into 2016, the United States Tax Court already has decided two cases, which disallowed tax deductions for donors based on a tax exempt entity’s failure to properly substantiate those...more
The Internal Revenue Service has announced that beginning as early as January 1, 2015, taxpayers will be limited to one IRA rollover in any 12-month period, regardless of the number of IRAs owned. (See Announcement 2014-15)....more