The IRS has released the 2022 cost-of-living adjustments for limits on employee benefits with some adjustments to the 2022 rates including minor increases to the maximum contributions allowed under Code Section 415 for...more
The IRS released Revenue Procedure 2021-30, a new iteration of the Employee Plans Compliance Resolution System (“EPCRS”), on Friday, July 16. EPCRS permits sponsors of eligible tax-qualified retirement plans and 403(b) plans...more
At the last minute, certain suspended COBRA, HIPAA and claims procedure deadlines that were set to expire on February 28, 2021 have been further extended. As we discussed last year the Department of Labor (DOL) and Internal...more
The IRS has released the 2021 cost-of-living adjustments for limits on employee benefits with some adjustments to the 2021 rates including minor increases to the maximum contributions allowed under Code Section 415 for...more
Similar to last year, in Notice 2020-76, the Internal Revenue Service (the “IRS”) has extended the deadlines for delivery (but not filing) of the 2020 Forms 1094 and 1095 required by the Affordable Care Act (the “ACA”)....more
The IRS has issued guidance (IRS Notice 2020-65) implementing the Executive Order issued in early August by the President that directs that employees be allowed to delay their payment of certain payroll tax obligations during...more
Section 402(f) of the Internal Revenue Code (“Code”) requires certain information to be provided to plan participants eligible to make rollover distributions. Periodically, the IRS has issued model 402(f) notices. ...more
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) permitted coronavirus-related distributions (CRDs) from qualified retirement plans (employer plans) and individual retirement accounts and similar accounts...more
The IRS has issued Notices 2020-29 and 2020-33 (“Notices”) to give employers with Section 125 cafeteria plans, including health and dependent care spending accounts (FSAs), new flexibility to allow mid-year changes and...more