In a release that was fairly unsurprising in content, the Internal Revenue Service issued Revenue Ruling 2025-15 to address a payor’s tax withholding and reporting obligations with respect to stale and reissued retirement...more
Many individuals are in desperate need of funds due to injuries, damage, and other unexpected expenses caused by the ongoing wildfires in Los Angeles. Employers can aid wildfire victims with tax-free payments, paid leave, and...more
1/9/2025
/ Corporate Counsel ,
Disaster Aid ,
Employee Benefits ,
Employees ,
Employment Policies ,
Internal Revenue Code (IRC) ,
IRS ,
Natural Disasters ,
Paid Leave ,
Tax Credits ,
Tax Exemptions ,
Wildfires
Internal Revenue Code Section 3405(e)(13) generally requires mandatory withholding on periodic and nonperiodic distributions that are to be delivered outside the United States unless the payee is a nonresident alien or recent...more
Effective as of January 1, 2023, payors of qualified plan distributions have been required to use a redesigned IRS Form W-4P for payee withholding elections on periodic payments and a new Form W-4R for nonperiodic payments...more
As the Code Section 139 relief period is scheduled to end soon along with the end of the COVID-19 national emergency, employers that assisted employees with personal expenses attributable to the COVID-19 pandemic should...more
The Internal Revenue Service and US Department of the Treasury have released proposed regulations governing the excise tax imposed by Internal Revenue Code Section 4960 on certain executive compensation paid to employees of...more