News & Analysis as of

Employee Benefits 1099s

Davis Wright Tremaine LLP

How SECURE 2.0 Options Impact Form W-2 and Form 1099-R Reporting

IRS reminds employers that implementing certain optional retirement plan provisions of SECURE 2.0 affect Form W‑2 and Form 1099‑R reporting starting in 2023 - The IRS recently issued Fact Sheet 2024‑18 to highlight how...more

Morgan Lewis

Don’t Pay Twice: Monitor Payment of Cancelled, Reissued Qualified Plan Distributions

Morgan Lewis on

Cancelled and reissued qualified plan distribution checks, particularly to decedents, should be monitored for payment in light of the Internal Revenue Service’s repeated refusal to repay withholding to payor plans. If a Form...more

Groom Law Group, Chartered

Upcoming Deadlines for Plan Sponsors – February 2022

Upcoming deadline alert! Plan sponsors should prepare for these upcoming February 2022 deadlines to ensure federal compliance and avoid penalties....more

Groom Law Group, Chartered

Upcoming Deadlines for Plan Sponsors – January 2022

Upcoming deadline alert! Plan sponsors should prepare for these upcoming January 2022 deadlines to ensure federal compliance and avoid penalties....more

Epstein Becker & Green

Unemployment Insurance Fraud: U.S. Department of Labor Launches New Online Resource for Victims

Unemployment Insurance (“UI”) fraud has exploded during the COVID-19 pandemic, resulting in billions of dollars’ worth of fraudulent claims being filed across the United States. We have previously outlined steps that...more

Morgan Lewis - ML Benefits

Separate State Filing Required for Form 1099-NEC

For the 2020 tax year, the Internal Revenue Service (IRS) moved reporting of certain nonemployee compensation, including current and deferred compensation paid to independent contractors and corporate directors, from Form...more

McDermott Will & Emery

Weekly IRS Roundup December 7 – December 11, 2020

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 7 – December 11, 2020... December 7, 2020: The IRS released TD 9937 related to...more

Akerman LLP

New 2019 Governmental Guidance Impacting Retirement Plans

Akerman LLP on

Since our March, 2019 alert on retirement plan guidance and compliance trends, the Internal Revenue Service (IRS) and the Department of Labor (DOL) have been quite busy issuing further waves of new guidance impacting...more

Stinson - Benefits Notes Blog

IRS Answers FAQs That Arise When Participants are Slow to Cash Distribution Checks

Participants and beneficiaries are sometimes slow to cash qualified retirement plan distribution checks, especially when the checks are relatively small.  This may result in the check being cashed in a year after the year the...more

Fisher Phillips

Call for Federal Legislative Changes Growing in the Gig Arena

Fisher Phillips on

As I wrote previously, it is no secret that labor laws have been unable to keep pace with the changing economy, despite challenges from the bench to address the needs of the gig economy. Certain state legislatures (e.g....more

Foley & Lardner LLP

How Do I Report Non-Qualified Plan or Severance Payments to a Former Employee? Hint: You Should Probably Use a W-2, Not a 1099!

Foley & Lardner LLP on

Employers commonly make payments to former employees for a number of reasons. Two of the more routine payments are those from a non-qualified deferred compensation plan (such as payments from a supplemental executive...more

Burr & Forman

Employee or independent contractor? Right to control is key

Burr & Forman on

A continuing point of contention in employment law revolves around who is an employee versus who is an independent contractor. The issue seems to come up often in wage and hour cases and workers’ compensation or unemployment...more

Proskauer - Law and the Workplace

Guidance Issued on Taxability of Contributions and Benefits under New York Paid Family Leave Law

The New York State Department of Taxation and Finance has issued official guidance on several taxability issues relating to the New York Paid Family Leave Law (“PFLL”), which goes into effect on January 1, 2018. Among other...more

Jackson Lewis P.C.

New Guidance On Taxation Of Contributions And Benefits Under New York State’s Paid Family Leave Program

Jackson Lewis P.C. on

The New York State Department of Taxation and Finance (the “Department”) recently provided guidance regarding the taxation of contributions made under, and benefits paid under, New York State’s new paid family leave program...more

Troutman Pepper

New GAO Report on Contingent Workforce Shows 85% of Independent Contractors Are “Content with Their Employment Type”

Troutman Pepper on

A comprehensive government report on the contingent workforce made public two days ago revealed surprising data about independent contractors, finding that 85% of independent contractors “appeared content with their...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Headache of Plan Loans

They often say that the road to hell is paved with good intentions. I don’t know who said it first (I heard it was originated with St. Bernard, the saint, not the dog), but perhaps they were a 401(k) plan sponsor that had a...more

King & Spalding

2013 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

King & Spalding on

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

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