News & Analysis as of

Withholding Requirements Employee Benefits Tax Planning

Proskauer - Employee Benefits & Executive...

FICA Tax: Navigating the Nonqualified Deferred Compensation Special Timing Rule

Compensation is generally subject to federal income tax and FICA tax when compensation is actually paid to an employee. However, nonqualified deferred compensation (NQDC) may be subject to FICA taxation before federal income...more

Littler

Puerto Rico Treasury Department Issues Post-Earthquake Rules for Qualified Retirement Plan and IRA Distributions and Loans

Littler on

On February 20, 2020, the Puerto Rico Treasury Department (PR Treasury) issued Internal Revenue Circular Letter Number 20-09 (CC RI 20-09) to provide special rules and procedures applicable to distributions from qualified...more

McDermott Will & Schulte

Still Tax, Even Without the Distributed Cash

McDermott Will & Schulte on

The IRS recently issued guidance on the tax treatment, withholding and reporting for required distributions from tax-qualified retirement plans. Plan sponsors should contact their retirement vendors and trustees to ensure...more

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