In response to taxpayer and state government requests, including a 2024 letter from governors of nine states imploring the Internal Revenue Service (IRS) to clarify the federal tax treatment of premiums and benefits under...more
1/30/2025
/ Employee Benefits ,
Employee Contributions ,
Employment Tax ,
Excise Tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Paid Family Leave Insurance Program ,
Paid Leave ,
Self-Insurance ,
State Labor Laws ,
Tax Liability ,
Tax Planning ,
Taxable Income
On March 29, 2022, the House of Representatives passed the Securing a Strong Retirement Act of 2022 (“SECURE 2.0”, HR 2954). The vote was largely supported by both parties (414-5). The Senate will likely act on the bill...more
The IRS has released a technical interim guidance on Section 4960, which was added to the Internal Revenue Code of 1986, as amended, as part of the Tax Cuts and Jobs Act. Very generally, Section 4960 imposes an excise tax in...more
This is the fifth article in our series covering the various employee benefits-related changes contained in the Tax Cuts and Jobs Act signed by the President on December 22, 2017.
Some of the most fundamental changes under...more
On December 2, 2017, the U.S. Senate passed its version of the Tax Cuts and Jobs Act (the “Senate Bill”). Our Benefits Law Advisors blog previously discussed some of the major provisions of a draft House of Representatives...more