News & Analysis as of

Compensation & Benefits Fringe Benefits

Gray Reed

Giving Season: Tax Edition

Gray Reed on

With the holiday season officially upon us, the Dollars and Sense team wants to make sure you maximize your giving and gifting! For so many businesses, and business owners, this time of year also means employer festivities,...more

Dickinson Wright

Employer-Provided Gifts: Taxable or Not?

Dickinson Wright on

As we approach the holiday season, many employers consider giving employees a gift as a token of appreciation. What employers may not consider is whether those gifts create taxable income to employees....more

Seyfarth Shaw LLP

Agencies Release 2026 Out-of-Pocket Limits and 2025 Limits for Health FSAs

Seyfarth Shaw LLP on

Recently HHS issued a memorandum announcing the maximum annual limitation on cost sharing (a/k/a out-of-pocket maximum) for 2026 and the IRS issued Rev. Proc. 2024-40 announcing the cost-of-living adjustments to certain...more

Epstein Becker & Green

Bicycles, Trains, and Automobiles: Illinois to Require Employers to Offer Pre-Tax Transportation Fringe Benefits

Epstein Becker & Green on

On July 28, 2023, Governor J.B. Pritzker signed into law House Bill No. 2068, “Transportation Benefits Program Act” (“Illinois Transit Law”), which requires employers to offer pre-tax transportation fringe benefits (“Transit...more

Stinson LLP

IRS Increases Standard Mileage Rates Starting July 1, 2022

Stinson LLP on

The Internal Revenue Service Announcement 2022-13, published on June 10, 2022, increases the standard mileage rates for deductible business travel, medical and moving expenses for the second half of 2022, in accordance with...more

Littler

IRS Releases 2022 Inflation Adjustments to Various Tax Limitations on Employer-Provided Benefits

Littler on

On November 10, 2021, the IRS released Revenue Procedure 2021-45, which contains its annual inflation adjustments for over 60 tax provisions, including not only individual income tax rates and deductions, but also many...more

Fisher Phillips

A Not-So-Merry Christmas in Your Future? Nevada Legislature Limits the Contents of Public-Sector Employment Contracts

Fisher Phillips on

Beginning on December 1, 2022, Nevada public employers will have new limitations placed on certain common elements contained in employment contracts. Governor Sisolak recently signed Assembly Bill 385 into law, prohibiting a...more

Mintz - Employment Viewpoints

Overview of the Impact of the Consolidated Appropriations Act on Employee Benefit Plans, Programs and Arrangements

Recently enacted H.R. 133, the Consolidated Appropriations Act, 2021 (“the Act”), is a massive, 5,593-page piece of legislation that includes appropriations for the U.S. government for the upcoming fiscal year and funding for...more

Jackson Walker

Consolidated Appropriations Act, 2021 Changes to Qualified Retirement Plans and Certain Fringe Benefits

Jackson Walker on

Employee Fringe Benefit Changes - Student Loan Repayment - The Consolidated Appropriations Act, 2021 (the “Act”) extended the period during which an employer may pay a portion of a student’s loan under an educational...more

Morgan Lewis

IRS Instructs Nonprofits on How to Claim Parking Tax Refund

Morgan Lewis on

On December 20, 2019, Congress retroactively repealed Internal Revenue Code (IRC) Section 512(a)(7), which had increased unrelated business taxable income by amounts paid or incurred for qualified transportation fringes....more

Carlton Fields

Four Noteworthy Highlights on the Taxation of Fringe Benefits

Carlton Fields on

This article should interest employers that offer fringe benefits to employees in addition to regular pay. An updated IRS publication outlining how employers should tax certain fringe benefits (IRS Publication 15-B) was...more

Seyfarth Shaw LLP

Malfunctioning Transit Passes – Timing is Everything

Seyfarth Shaw LLP on

Seyfarth Synopsis: Many employers maintain a tax-preferred transportation fringe benefit plan to provide tax-free transit benefits to employees. Under such plans, the benefit is often distributed in the form of an electronic...more

Harris Beach Murtha PLLC

U.S. Department of Labor Updates Rules Governing Regular Rate Calculation to Provide More Guidance for Employers

Harris Beach Murtha PLLC on

Under the Fair Labor Standards Act, non-exempt employees must receive one and one half times their regular rate of pay for all hours worked over forty in a work week. The “regular rate” is generally calculated by dividing...more

Akin Gump Strauss Hauer & Feld LLP

2020 Annual Benefit Plan Limits

The Internal Revenue Service (IRS) on November 6, 2019 announced the following cost of living inflation adjusted dollar limits applicable to tax-qualified plans and other benefit plans for 2020...more

Pierce Atwood LLP

What Maine Employers Need to Know About 2019 Workers' Compensation “Reforms”

Pierce Atwood LLP on

It was inevitable that some of the 1993 reforms that stabilized Maine’s workers’ compensation market and brought Maine closer to the national average in terms of cost and benefits would be peeled back when the 129th...more

Jackson Lewis P.C.

[Webinar] Creating Executive Compensation Arrangements that Comply with California Law - May 29th, 3:00pm ET

Jackson Lewis P.C. on

*Webinars are CLE-accredited in California, Illinois, New York, Missouri and Texas. We are also accredited providers of HRCI and SHRM. In California, executive employment agreements and company plans providing for bonuses,...more

Cole Schotz

New Jersey Requires Employers To Offer Transportation Fringe Benefits

Cole Schotz on

On March 1, 2019, New Jersey became the first state to enact legislation, Senate Bill No. 1567 (“An Act concerning pre-tax transportation fringe benefits”), requiring employers with 20 or more employees to offer pre-tax...more

Epstein Becker & Green

New Jersey Becomes First State to Require Employers to Offer Pre-Tax Transportation Fringe Benefits

On March 1, 2019, when Governor Phil Murphy signed into law Senate Bill No. 1567, “An Act concerning pre-tax transportation fringe benefits” (“NJ Transit Benefits Law” or “Law”), New Jersey became the first state to require...more

Robinson & Cole LLP

IRS Issues Interim Guidance on Qualified Transportation Fringe Benefits

Robinson & Cole LLP on

The IRS issued two pieces of interim guidance with respect to the new treatment of qualified transportation fringe benefits following the changes made by the Tax Cuts and Jobs Act (Tax Act). The Tax Act required parking...more

Kilpatrick

IRS Updates Health and Fringe Benefit Plan Limits

Kilpatrick on

Health and Fringe Benefit Plan Limits - The IRS has updated various health and fringe benefit plan limits for 2019. A comparison of the 2019 and 2018 limits is listed below....more

Cadwalader, Wickersham & Taft LLP

New IRS Guidance Regarding Section 162(m)’s Deduction Limitation for Executive Compensation – Increased Complexity and Reduced...

The Internal Revenue Service (the “IRS”) recently issued Notice 2018-68 (the “Notice”) that provides guidance regarding the application of Section 162(m) of the Internal Revenue Code of 1986, as amended (“Section 162(m)”)...more

Stinson - Benefits Notes Blog

IRS Guidance Provides Some Clarity, but Leaves Questions Unanswered under 162(m)

On August 21, 2018, the IRS issued its initial guidance on the amendments to Section 162(m) made by the Tax Cuts and Jobs Act, in the form of Notice 2018-68. The guidance is fairly limited and does not completely address...more

Polsinelli

Five Issues When An Employer Is Considering An Employment Agreement

Polsinelli on

When operating its business, an employer should consider whether and when to implement employment agreements with certain employees. When considering whether an employee should execute an employment agreement, employers...more

Kilpatrick

Tax Reform Makes Now a Good Time for a 401(k) Plan Compensation Definition Audit

Kilpatrick on

It is always a good idea to periodically perform an internal self-audit of a 401(k) plan’s definition of compensation, to verify that the definition matches the administration in the plan sponsor’s payroll and reporting...more

Poyner Spruill LLP

Tax Reform Curbs Fringe Benefits

Poyner Spruill LLP on

The Tax Cuts and Jobs Act was signed into law on December 22, 2017. The Act modifies the tax consequences of certain employer-provided fringe benefits, including those related to transportation, moving, meals, entertainment,...more

59 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide