In the past week, devastating wildfires in Los Angeles, California, have caused unprecedented destruction across the region, leading to loss of life and displacing tens of thousands. While still ongoing, the fires already...more
1/16/2025
/ 401k ,
California ,
Employee Benefits ,
Hardship Distributions ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Natural Disasters ,
Relief Measures ,
Retirement Plan ,
SECURE Act ,
Tax Liability ,
Tax Planning ,
Wildfires
Employers that provide 401(k) plans on documents that have been “pre-approved” by the Internal Revenue Service (IRS) beware: there is yet another annual notice requirement that may need to be added to your compliance list!...more
Employers in all industries have faced unprecedented business challenges during 2020, and responding to those challenges has often entailed adjustments to the size and composition of workforces through targeted or...more
It has been said that when something seems too good to be true, it probably is. One recent practical example of this aphorism can be found in the loan forgiveness provisions applicable under the Paycheck Protection Program...more
Deadlines are an inescapable aspect of administering employee benefits plans, and even in the midst of a pandemic that seems to have slowed the progress of days to a crawl, time is always in short supply. Fortunately, the...more
5/5/2020
/ Benefit Plan Sponsors ,
CARES Act ,
COBRA ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Department of Labor (DOL) ,
EBSA ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
IRS ,
Retirement Plan ,
Time Extensions
As part of the Trump administration’s ongoing efforts to mitigate the impact of the novel coronavirus (and the illness it causes, COVID-19) pandemic, on March 20, 2020, the U.S. Department of the Treasury and the Internal...more
For the many employers and health care providers that have thus far been spending their holidays poring over the Affordable Care Act’s (ACA) new tax forms and their cryptic instructions in anticipation of the inaugural round...more
For many employers, the employer mandate under the Affordable Care Act (ACA) is already a reality. Having now worked out some of the administrative kinks associated with providing the health plan coverage required by the...more
On June 25, 2015, the Supreme Court of the United States ruled that tax credits are available to individuals in states that have a federal Exchange under Section 1321 of the Affordable Care Act (the Act or the ACA). In a...more
In furtherance of Section 902 of the American Taxpayer Relief Act of 2012 (ATRA), the Internal Revenue Service (IRS) recently issued Notice 2013-74 updating prior IRS guidance regarding so-called “in-plan” Roth conversions...more
The Internal Revenue Service (IRS), the Department of Labor (DOL), and the Department of Health and Human Services (HHS), the three federal agencies with primary responsibility for implementing the Affordable Care Act (ACA),...more