One of the most common errors in 401(k) plan administration continues to be a mismatch between a plan’s definition of compensation and the actual compensation taken into account for plan purposes despite this problem being...more
The Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”) established a new in-service distribution known as a qualified birth or adoption distribution (“QBOAD”). ...more
As it has done in past years, the IRS has extended the Affordable Care Act (“ACA”) deadline for health plan sponsors to furnish individuals IRS Forms 1095-B and 1095-C by 30 days (IRS Notice 2019-63). ...more
Individuals completing their 2016 IRS Form 1040s will recognize the question asking if they, their spouses and dependents had qualifying health care coverage in 2016 (Form 1040 line 61, Form 1040A line 38, Form 1040EZ line...more
Last summer, the Internal Revenue Service (IRS) announced that its periodic review of individually designed retirement plans to determine the plans’ qualified status will end effective January 31, 2017. In January 2016, the...more
Within the last week, there has been a flurry of activity from both Congress and the Internal Revenue Service (“IRS”) with respect to the Affordable Care Act (“ACA”). This client alert first reviews the delayed effective date...more
Despite guidance from the Internal Revenue Service (“IRS”), the Department of Labor (“DOL”) and the Department of Health and Human Services (“HHS”) indicating the prohibition of the practice under the Affordable Care Act...more
5/29/2015
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In June 2013, the US Supreme Court in Windsor v. U.S., ruled as unconstitutional the portion of the federal Defense of Marriage Act (“DOMA”) which provided that for federal law purposes, a marriage meant an opposite-sex...more
In This Issue:
- IRS ISSUES TRANSITION RELIEF ON THE ONE-YEAR DELAY IN ACA’S INFORMATION REPORTING AND EMPLOYER SHARED RESPONSIBILITY RULES:
On July 9, 2013, the IRS issued Notice 2013-45 which provides...more
Late on July 9, 2013, the IRS issued Notice 2013-45 which provides some additional information regarding the Department of Treasury’s recently announced delay in the information reporting and employer shared responsibility...more