COVID-19 Relief Complicates Cobra Administration
Among the many employee benefit deadlines extended due to the pandemic by joint action of the Department of Labor and the Internal Revenue Service are…
Employment Tax
If Your Retirement Plan Holds Employer Securities
Keep an Eye on the Jander Case, Part II
In March 2020, I posted a blog reviewing the evolution of the legal analysis applied to a retirement plan’s holding of “employer securities” under the…
The Countdown Begins for Lifetime Income Disclosures
The SECURE Act of 2019 made three statutory changes to ERISA regarding lifetime income benefit payments from defined contribution plans (e.g., 401(k), 403(b), profit sharing,…
COBRA Litigation – 2020’s Latest Gift
The Consolidated Omnibus Budget Reconciliation Act (“COBRA”) became law on April 7, 1986. For most of its nearly 35-year history, litigation involving COBRA has been…
DOL Cracks Open the Door for Private Equity in 401(k) Plans
The U.S. Department of Labor (the “DOL”) recently released an information letter that concludes, if certain conditions are met, a plan fiduciary will not violate…
Structuring a 401(k) Match Based on Employee Student Loan Repayments
Employers face a constant struggle to attract and retain quality employees. This is especially true in a strong economy where jobs are plentiful and the…
Unpaid Federal Employment Taxes: The Government’s Chief Enforcement Priority
Businesses that have employees must pay wages and salaries to their employees, and the employer must collect federal employee income taxes and the employee's share…
New IRS Proposed 199A Regulations Provide Guidance on 20% Profit Pass-Through Deduction
On August 8th, the IRS released its much-awaited Proposed Regulations on the new Section 199A 20% profit deduction for pass-through businesses. The new deduction applies…
IRS Issues New Proposed Regulations on Section 199A 20% Deduction for Pass-Through Businesses
The Internal Revenue Service today issued its much-anticipated Proposed Regulations on the new Section 199A 20% deduction for owners of pass-through business entities. This important…
IRS Clarifies Authority for Acceptance of Offers in Compromise from Clients of Professional Employer Organizations and Reporting Agents
Generally, an employer is required to deduct and withhold Federal Insurance Contribution Act taxes ("FICA"), Federal Unemployment Tax Act taxes ("FUTA"), and income tax withholding…