Tax Law Defined® Blog

The IRS Backtracks (Again!) on Retiree Lump-Sum Windows

The IRS Backtracks (Again!) on Retiree Lump-Sum Windows

On March 7, 2019, the IRS issued Notice 2019-18, which walked back its prohibition on offering retirees receiving annuity payments a time-limited opportunity to receive their remaining benefit value in one lump-sum payment (a “retiree lump-sum window”). Read More ›

COBRA Noncompliance can be Costly

COBRA Noncompliance can be Costly

Now is a good time for employers to take a look at their COBRA procedures or check with their COBRA vendors about documentation processes given a recent case out of the Southern District of Ohio. Read More ›

The Importance of Regulations in Tax Law, Especially After Kentucky's Recent Tax Reform

The Importance of Regulations in Tax Law, Especially After Kentucky's Recent Tax Reform

The importance of regulations in the world of tax is often overlooked, but in many cases, regulations cut both ways – being a taxpayer’s best friend for guidance purposes or the government’s first line of defense when enforcing tax laws. Read More ›

IRS Issues Updated Eligible Rollover Distribution Notices - Plans Should Begin Using Immediately

IRS Issues Updated Eligible Rollover Distribution Notices - Plans Should Begin Using ImmediatelyMost retirement plans (including profit sharing, 401(k), and 403(b) plans) are required to provide participants with an explanation of the rules for making an eligible rollover distribution and the tax rules for distributions that are not rolled over. Generally, this rollover notice is part of the participant’s distribution election packet. Read More ›

Changes in Hardship Withdrawal Rules for 401(k) and 403(b) Plans – What Plan Sponsors Need to Know

Changes in Hardship Withdrawal Rules for 401(k) and 403(b) Plans – What Plan Sponsors Need to KnowEmployers who sponsor a 401(k) plan or a 403(b) plan that offers hardship withdrawals have some decisions to make. Read More ›

SURPRISE! You may be liable for union pension plan withdrawal liability

SURPRISE! You may be liable for union pension plan withdrawal liability

When a participating employer stops contributing to, or no longer has an obligation under a collective bargaining agreement (CBA) to contribute to, an underfunded multiemployer (union) pension plan, the employer may be liable for “withdrawal liability” even though it always paid its required annual contributions to the pension plan. Read More ›

Employer Health Plan Litigation over Residential Treatment and Wilderness Therapy

Employer Health Plan Litigation over Residential Treatment and Wilderness Therapy

If you keep tabs on employer group health plan litigation, you have perhaps noticed a substantial increase in lawsuits over plans denying coverage for various types of out-of-network residential treatment and "wilderness therapy" benefits during the last 18 months. Read More ›

Revisiting the Choice of Entity Decision for Closely Held Businesses

Revisiting the Choice of Entity Decision for Closely Held Businesses

Shifting the focus from understanding the Tax Cuts and Jobs Act to considering whether what has changed significantly alters the choice of entity landscape. Read More ›

IRS Final Rules Make Plan Forfeitures More Useful

IRS Final Rules Make Plan Forfeitures More Useful

The IRS finalized the proposed rules in mid-July. If you have not already done so, now is a good time to consider amending your plan to allow the use of forfeitures for funding safe harbor contributions, QNECs, and QMACs. Read More ›

SEC Liberalizes Rules for Private Company Equity Compensation

SEC Liberalizes Rules for Private Company Equity Compensation

Equity compensation (including options to purchase stock or LLC units, restricted stock or units, and sales of equity to employees) is frequently used by publicly traded and privately held businesses to recruit and retain employees, directors, and other service providers. Businesses using these compensation techniques or equity-based nonqualified compensation deferral programs need to be concerned about compliance with federal and state securities laws for these programs. Read More ›

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Attorney Spotlight

Daniel G. Mudd is a member of FBT, handling federal, state and local tax matters, including sales and use, excise (e.g., alcohol and tobacco), income, local occupational license and business taxes.

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