News & Analysis as of

Internal Revenue Code (IRC) Notice Requirements Internal Revenue Service

Maynard Nexsen

IRS Publishes New ACA Reporting Guidance for Employer Distribution of 1095-B and 1095-C

Maynard Nexsen on

On February 21, 2025, the Internal Revenue Service (“IRS”) released Notice 2025-15, providing guidance to employers and insurers regarding the alternative manner of furnishing certain health insurance coverage statements to...more

Amundsen Davis LLC

IRS Issues Guidance on Alternative Distribution Method for Form 1095-C

Amundsen Davis LLC on

As part of the Paperwork Burden Reduction Act, signed into law on December 23, 2024, Internal Revenue Code (IRC) sections 6055(c) and 6056(c) were amended to allow the use of the alternative method for distributing Forms...more

Kohrman Jackson & Krantz LLP

Move Over TikTok, the Tax Man May Be Snooping on You, Too

In a rare unanimous opinion, the U.S. Supreme Court recently confirmed that existing law allows the IRS to probe your bank records, without ever notifying you. Under the applicable statute, the Court concluded the IRS is not...more

Rivkin Radler LLP

Supreme Court Upholds IRS Collections Summons Without Notice

Rivkin Radler LLP on

The Supremes- The Constitution has figured prominently in the news of late. In the days preceding the initial discussions among members of the Administration and the Congressional leadership regarding the debt ceiling,...more

Freeman Law

No Right to Intervene?—IRS Third-Party Summonses

Freeman Law on

Third-party summonses. Taxpayers, individuals, and companies, alike, should be aware of the Internal Revenue Service’s (“IRS”) power to issue third-party summonses. Even more, interested parties should note that only parties...more

Faegre Drinker Biddle & Reath LLP

Day of the Dead…lines: Updating Your Plan’s Safe Harbor Notice

As the end of year approaches, now is the time for safe harbor 401(k) plan sponsors to prepare their annual safe harbor notices. 401(k) Plans that satisfy nondiscrimination testing via the employer contribution safe...more

Fisher Phillips

New Benefit Plan Deadline Extensions Provide Opportunities For Participants – And Burdens For Plan Sponsors

Fisher Phillips on

The Department of Labor (DOL), in coordination with the IRS and the Treasury Department, recently issued new rules extending key deadlines for health, retirement, and welfare plans subject to ERISA and the Internal Revenue...more

Bradley Arant Boult Cummings LLP

IRS Finalizes Revised Hardship Regulations - Employee Benefits Alert

The Internal Revenue Service (IRS) has finalized revisions to the regulations governing hardship distributions under 401(k) and 403(b) plans. The final regulations make some subtle but important changes to the regulations...more

McDermott Will & Emery

Seventh Circuit Upholds Lien Notice despite Incorrect Name

McDermott Will & Emery on

When you do not pay your taxes, the Internal Revenue Service (IRS) has the power to file a “lien” on your property under Internal Revenue Code section 6321. The lien attaches “upon all property and rights to property, whether...more

McDermott Will & Emery

Ninth Circuit Interprets Summons Notice Rules Strictly Against IRS

The Internal Revenue Service (IRS) had broad examination authority to determine the correct amount of tax owed by taxpayers. In addition to seeking information directly from a taxpayer, the IRS is also authorized to seek...more

Mintz - Public Finance Viewpoints

IRS Releases New Public Approval Proposed Regulations

On September 28, 2017, the Internal Revenue Service (IRS) withdrew previous proposed regulations and released new proposed regulations (the “Proposed Regulations”) relating to public approval requirements for tax exempt...more

Burr & Forman

Notice Requirements for Social Welfare Organizations

Burr & Forman on

Section 501(c)(4) of the Internal Revenue Code (“IRC”) exempts from the federal income tax certain nonprofit corporations that are operated exclusively for the promotion of social welfare (commonly referred to as “Social...more

Foley Hoag LLP

Section 501(c)(4) Organizations Subject to IRS Notice Requirement

Foley Hoag LLP on

Nonprofit entities that intend to operate as tax-exempt organizations described in section 501(c)(4) of the Internal Revenue Code (Code) are subject to new reporting requirements with the IRS. Specifically, newly-enacted...more

Davis Wright Tremaine LLP

IRS Implements New Notice Requirement for Section 501(c)(4) Organizations: Many Organizations Must File by Sept. 6, 2016

Organizations that claim federal tax-exempt status under Section 501(c)(4) must comply with new procedures for notifying the IRS of their intent to operate under Section 501(c)(4), or face potential penalties. The IRS has...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

IRS releases guidance on mid-year amendments to Safe Harbor 401(k) Plans

A few years back, an Internal Revenue Service (IRS) official opined that the IRS would not look favorably on safe harbor 401(k) plan making any amendments mid-year except in some circumstances such changing a trustee,...more

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