PCORI Fee Resurrected
In the summer of 2019, I wrote a short blog on the death of the PCORI fee -- Ding, Dong, the PCORI Fee is Dead!. …
Tax Law Insights
2020 Appropriations Act Contains Significant Retirement Provisions (Secure Act)
On December 20, 2019, President Trump signed the Further Consolidated Appropriations Act, 2020 (the “Appropriations Act”) that includes the “Setting Every Community Up for Retirement…
Ho, Ho, Ho, ACA Reporting Relief Five Years in a Row
Since 2015, employers and health insurers have been required to report health plan coverage information to the IRS and to individuals. Why? The information is…
South Carolina Department of Employment and Workforce Announces Major Tax Cut for South Carolina Employers
The South Carolina Department of Employment and Workforce (SCDEW) administers the South Carolina unemployment benefit program for state residents, and which is funded by a…
South Carolina State Tax Lien Central Registry Now Online
South Carolina state tax liens were previously recorded each county’s register of deeds, register of mesne conveyance, or clerk of court (i.e. in the same…
With Limited IRS Extension, Plan Sponsors Should Review Their 403(b) Plan Documents
Generally, a 403(b) plan is a retirement planning program whereby a public school or tax-exempt 501(c)(3) organization (including churches) makes contributions for their employees (and…
Finally, Hardship Distribution Regulations are Final
The Treasury Department and the Internal Revenue Service (collectively referred to hereafter as “IRS”) on September 23, 2019 published the final regulations on hardship distributions,…
I’m Seeking to Renew or Obtain a U.S. Passport to Travel Abroad but I owe IRS Taxes – What do I do?
The Fixing America’s Surface Transportation (FAST) Act, signed into law December 4, 2015, created new Internal Revenue Code § 7345 which requires the IRS to…
The Interaction of Section 461(l) and the Passive Activity Loss Rules
Section 461(l) of the Internal Revenue Code (“IRC” or “Code”) provides that a taxpayer other than a C corporation is not allowed to deduct “excess…
How to Get Relieved of Liability for Your Spouse’s South Carolina Tax Debt
Spouses who file a joint income tax return are both jointly and severally liable for the taxes associated with the return, both federally and at…