Over the past two weeks, wildfires have caused substantial loss and damage to homes and communities in Los Angeles, California, and the surrounding areas. In the wake of such devastation, employers may seek opportunities to...more
1/16/2025
/ California ,
Disaster Relief Fund ,
Donations ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
Internal Revenue Code (IRC) ,
IRS ,
Natural Disasters ,
Paid Leave ,
Qualified Disaster Relief Payments ,
Retirement Plan ,
Tax Liability ,
Tax Planning
The Internal Revenue Service (IRS) has announced plans to initiate dozens of new audits this spring in an attempt to limit personal usage of corporate aircraft. These audits will focus primarily on “highest risk” corporations...more
Promoters and tax advisors have extensively marketed the Employee Retention Tax Credit (ERTC) as a way for employers to reclaim Federal Insurance Contributions Act (FICA) payroll taxes paid during the first two years of the...more
11/8/2023
/ Coronavirus/COVID-19 ,
Employee Retention ,
Employer Liability Issues ,
FICA Taxes ,
IRS ,
New Legislation ,
Payroll Taxes ,
Regulatory Agenda ,
Regulatory Reform ,
Tax Credits ,
Tax Reform
On November 21, 2022, the US Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) released a proposed amendment and restatement of the Voluntary Fiduciary Correction Program (VFCP), along with a...more
12/20/2022
/ Benefit Plan Sponsors ,
Department of Labor (DOL) ,
EBSA ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement Actions ,
Fiduciary Duty ,
IRS ,
Penalties ,
Prohibited Transactions ,
Proposed Amendments ,
PTEs ,
Self-Correction Programs