Here is a checklist of 2020 compliance deadlines, covering retirement plans along with other health and welfare benefit plans. Thank you IslerDare PC for providing this information. Here are key March Deadlines for 2020: Date Action By March 1: File DOL1 Form M-1 for MEWA2s By March 2: Provide 2019 ACA3 information reporting returns (Forms 1095-B and 1095-C) to individuals By March 15: …
Winston & Strawn Partner Michael Melbinger continues his analysis of the proposed regulations that have been issues by the Internal Revenue Service (IRS) and the Treasury Department on changes to Tax Code Section 162(m). The following article first appeared on the Executive Compensation Blog on January 13, 2020, and is republished here with the author’s permission. #executivecomp #fulcrumpartners #IRS #162m
On Wednesday, November 6, the Internal Revenue Service (IRS) announced its updated dollar limitations for tax-qualified, defined benefit and defined contribution plans. This guidance provides tax year 2020, cost‑of‑living adjustments (COLA), affecting dollar limitations for pension plans and other retirement-related items.
This Sixth Circuit Court of Appeals decision involving a nonqualified deferred compensation plan (NQDC) shows why it can be important for a nonqual plan to comply with Internal Revenue Code Section 409A compliance and the Employee Retirement Income Security Act of 1974 (ERISA) claims procedures. Fulcrum Partners shares these important insights from attorneys Greg Daugherty and Dave Tumen of Porter Wright, first …
Isler Dare Employee Benefits Update Re: IRS Updates Determination Letter Program and Revises Correction Procedures Under Employee Plans Compliance Resolution System (EPCRS) This employee benefits update (first published May 2019) is provided courtesy of Isler Dare PC (www.islerdare.com) and was written by Andrea I. O’Brien, Vi D. Nguyen, Jeanne Floyd, and Ashley F. Hedge. Recent Legal Developments for Employee Benefit …
With the Tax Cuts and Jobs Act (TCJA) of 2017 overhauling many aspects of personal income tax, this year’s filing is sure to be challenged by plenty of tax payer confusion. On January 16, the Internal Revenue Service (IRS) announced that it would be waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated …
On November 1, the Internal Revenue Service (IRS) announced contribution limit increases for various retirement savings plans, including 401(k), 403(b), most 457 plans, and the government’s Thrift Savings Plan. A detailed assessment of the changes, as published by the IRS, appears below the chart. The IRS has announced the 2019 Retirement Savings Plan Limits as follows: Plan Limits 2018 …
Following up on the release, last week, (August 21, 2018) of Guidance on Section 162(m) of the Federal Tax Code, we are sharing the initial reactions of Attorney Mike Melbinger, Partner in the Chicago offices of Winston & Strawn, LLP. Below are excerpts from two of Mike’s posts about this timely topic, previously published in the Executive Compensation Blog, and …
The IRS has issued guidance on Section 162(m) of the Federal Tax Code as amended by P.L. 115-97, the law generally known as the, “Tax Cuts and Jobs Act.” You can read the notice, which was published August 21, 2018, in entirety, here: Notice 2018-68. The information released this week primarily focuses on the amended rules for identifying covered employees …
Fulcrum Partners is pleased to share the following report, prepared by the Employee Benefits group at Isler Dare PC: The Elusive Search: Considerations for Locating Missing Retirement Plan Participants. You may read or download the full report as a PDF here. Executive Overview Changes to the tax environment and Internal Revenue Service (IRS) policies are creating a need for …