Section 403(b) of the Internal Revenue Code of 1986, as amended (the “Code”) authorizes a type of retirement plan that can be sponsored by certain tax exempt organizations (e.g., a Code Section 501(c)(3) organization,...more
4/6/2018
/ 403(b) Plans ,
501(c)(3) ,
Benefit Plan Sponsors ,
Employee Benefits ,
Former Employee ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Required Minimum Distributions ,
Retirement Plan ,
Tax Exempt Entities
On January 22, 2018, President Trump signed into law H.R. 195 (hereinafter referred to as the “2018 Budget Deal”) which ended the federal government shutdown and funds the federal government through February 8, 2018. In...more
1/30/2018
/ Affordable Care Act ,
Budget Reconciliation ,
Cadillac Tax ,
Children's Health Insurance Program (CHIP) ,
Delays ,
Employer Healthcare Costs ,
Excise Tax ,
Federal Funding ,
Fees ,
Health Care Providers ,
Health Insurance ,
Healthcare Costs ,
Internal Revenue Code (IRC) ,
IRS ,
Medical Devices ,
Trump Administration
In early November, I posted an article entitled “Tax Reform Proposal Nixes Favorable Tax Treatment of Several Employee Benefits”. That article reviewed the Ways and Means Committee’s proposal (H.R. 1, the Tax Reform and Jobs...more
1/4/2018
/ Adoption ,
Dependent Care ,
Educational Assistance Programs ,
Employee Benefits ,
Employee Relocations ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
IRA Rollovers ,
IRS ,
New Legislation ,
Repeal ,
Roth IRA ,
Tangible Property ,
Tax Cuts and Jobs Act ,
Tax Reform ,
Time Extensions ,
Trump Administration
On November 3, 2017, House Ways and Means Committee Chairman Brody began the legislative consideration of Tax Reform by releasing an amendment (in the nature of a substitute) to the Tax Reform and Jobs Act (H.R. 1 hereinafter...more
11/14/2017
/ Adoption ,
Cafeteria Plans ,
Dependent Care Assistance Program (DCAP) ,
Employee Benefits ,
Employee Relocations ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Markups ,
Proposed Amendments ,
Proposed Legislation ,
Reimbursements ,
Tax Credits ,
Tax Exemptions ,
Tax Reform ,
Ways and Means Committee
A recent Tax Court decision suggests that employers may want to review their 401(k) plan loan programs and payroll practices. In Louelia Salomon Frias and Mervyngil Salomon v. Commissioner, TC Memo 2017-139 (July 11, 2017),...more
Section 501(c)(4) of the Internal Revenue Code (“IRC”) exempts from the federal income tax certain nonprofit corporations that are operated exclusively for the promotion of social welfare (commonly referred to as “Social...more
A qualified retirement plan (hereinafter a “Plan”) must satisfy the requirements of the Internal Revenue Code (“IRC”) in form and in operation. In other words, the documents establishing and governing the Plan must satisfy...more