Seyfarth Synopsis: The IRS recently sought to reassure employers that they will not jeopardize their retirement plan’s tax qualified status if they permit employees who have a bona fide separation from service to take a...more
Seyfarth Synopsis: As you’ll recall, last Spring, the DOL and IRS issued guidelines providing relief from certain deadlines for employee benefit plans, retroactive to March 1, 2020 (i.e., the beginning of the COVID-19...more
Seyfarth Synopsis: As Seyfarth has blogged about on multiple occasions, the CARES Act provides participants in tax-qualified retirement plans the opportunity to request distributions on a tax-favored basis by self-certifying...more
Seyfarth Synopsis: The IRS recently issued proposed regulations providing guidance under Internal Revenue Code (“Code”) Section 4960, which provides for an excise tax on tax-exempt organizations that pay certain executives in...more
6/12/2020
/ Compensation & Benefits ,
Employee Benefits ,
Excise Tax ,
Executive Compensation ,
Golden Parachutes ,
Internal Revenue Code (IRC) ,
IRS ,
Popular ,
Tax Cuts and Jobs Act ,
Tax Exempt Entities ,
Tax Planning
On May 1, 2019, the Internal Revenue Service (IRS) issued guidance re-opening its storied determination letter program to hybrid plans and certain plans impacted by plan mergers....more
Just in time for the New Year and notwithstanding the government shutdown, on December 31, 2018, the Internal Revenue Service (“IRS”) issued Notice 2019-09 (the “Notice”), which provides interim guidance on the new excise tax...more
1/14/2019
/ Compensation & Benefits ,
Employee Benefits ,
Excise Tax ,
Executive Compensation ,
Interim Guidance ,
IRS ,
Remuneration ,
Tax Cuts and Jobs Act ,
Tax Exemptions ,
Tax Planning ,
Tax Reform
On January 18, 2017, the IRS issued proposed regulations that expand the permitted uses of forfeitures in a 401(k) plan. Under the proposed rules, the definitions of “qualified nonelective contributions” (QNECs) and...more