Under Notice 2022-33, the Internal Revenue Service (IRS) has extended the deadline for adopting amendments to qualified retirement plans and individual retirement accounts (IRAs) to reflect certain changes made by the Setting...more
The Internal Revenue Service (IRS) has published Notice 2021-26 to provide answers regarding the taxability of benefits received in 2021 and 2022 under a dependent care assistance program (DCAP) that permits carryovers or...more
5/13/2021
/ Cafeteria Plans ,
Carryover Basis ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Dependent Care Assistance Program (DCAP) ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
Flexible Spending Accounts ,
Grace Period ,
Internal Revenue Code (IRC) ,
IRS ,
Tax Code
In EBSA Disaster Relief Notice 2021-01, the Department of Labor (DOL) has issued a critical interpretation of prior guidance that extended certain deadlines for employee benefit plans, participants, and beneficiaries due to...more
In Notice 2021-15, the IRS provides many answers to questions regarding the temporary special rules introduced as part of the Consolidated Appropriations Act, 2021 (CAA) for health flexible spending accounts (health FSAs) and...more
3/2/2021
/ Cafeteria Plans ,
Carry-Over Basis ,
COBRA ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Dependent Care Assistance Program (DCAP) ,
Employee Benefits ,
Employer Group Health Plans ,
Employer Liability Issues ,
Flexible Spending Accounts ,
Grace Period ,
IRS
In EBSA Disaster Relief Notice 2021-01, the Department of Labor (DOL) has issued a critical interpretation of prior guidance that extended certain deadlines for employee benefit plans, participants, and beneficiaries due to...more
The recently enacted COVID-19 Related Tax Relief Act of 2020 and the Taxpayer Certainty and Disaster Tax Relief Act of 2020, both of which are part of the “Consolidated Appropriations Act, 2021,” includes the following...more
1/4/2021
/ Benefit Plan Sponsors ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Employee Benefits ,
Employer Group Health Plans ,
Employer Liability Issues ,
IRS ,
New Legislation ,
Relief Measures ,
Retirement Plan ,
Trump Administration
The president has signed into law the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which includes several temporary special rules aimed at minimizing forfeitures and increasing the utility of health and dependent...more
12/30/2020
/ Carryover Basis ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employees ,
Employer Group Health Plans ,
Employer Liability Issues ,
Flexible Spending Accounts ,
IRS ,
Relief Measures ,
Temporary Regulations ,
Trump Administration
The Internal Revenue Service (IRS) has recently published frequently asked questions addressing leave-sharing plans related to the COVID-19 pandemic. Following IRS Notice 2006-59, the IRS has confirmed that employers may set...more
Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, employers can now make nontaxable payments of up to $5,250 to employees as student loan repayment assistance, but only if the payments are made by December...more
In response to the COVID-19 pandemic, the Internal Revenue Service (IRS) has issued a notice providing temporary relief from the physical presence requirement for participant elections required to be witnessed by a plan...more
On May 12, 2020, the Internal Revenue Service (IRS) issued two notices permitting employers to offer new opportunities for employees to change their salary reduction elections under a cafeteria plan and avoid forfeitures of...more
The Department of Labor (DOL), joined and coordinated in part by the Department of Treasury, Internal Revenue Service, and Department of Health and Human Services, has released several documents providing deadline extensions...more
The President recently signed into law the Coronavirus Aid, Relief, and Economic Security Act or “CARES Act.” The CARES Act is primarily a stimulus package that addresses the current coronavirus crisis, and it includes...more
The nation’s lawmakers, government agencies, and insurance carriers are taking measures to remove financial barriers to testing and treatment for the novel coronavirus disease (COVID-19). Employers sponsoring health plans...more
3/19/2020
/ Coronavirus/COVID-19 ,
Cost-Sharing ,
Employee Benefits ,
Employer Group Health Plans ,
HDHPs ,
Health Insurance ,
Health Savings Accounts ,
HSA ,
IRS ,
State and Local Government ,
Virus Testing