COVID-19: Retirement Plan Considerations
Hardship Distributions. It is becoming clearer that COVID-19 may present serious financial difficulties for individuals and employees. Employers and plan administrators should expect to receive...
View ArticleFamilies First Coronavirus Response Act Requires Employer Plans to Provide...
Following a vote in the US Senate of 90 to 8, President Trump signed into law the Families First Coronavirus Response Act. The Family First Coronavirus Response Act will require all group health plans...
View ArticleFamilies First Coronavirus Response Act Expands FMLA Coverage and Requires...
The FFCRA, passed by Congress on March 18, 2020, expands the Family and Medical Leave Act on a temporary basis and allows an eligible employee to take up to 12 weeks of job-protected leave to care for...
View ArticleCashing Out PTO – Can You Avoid Constructive Receipt?
As we scramble to digest the Families First Coronavirus Response Act, the new coronavirus relief bill with paid-leave mandates, some employers are considering additional options for their workforce....
View ArticleCOVID-19 Guidance for Restaurants
You may ask employees if they are experiencing COVID-19 symptoms. These include (but are not definitive and some employees will be asymptomatic) fever, chills, cough, shortness of breath, or sore...
View ArticleFamilies First Coronavirus Relief Act -Tax Credits
Employers required to provide paid sick leave or paid family medical leave under the Families First Coronavirus Response Act are eligible for a refundable tax credit equal to 100 percent of qualified...
View ArticleResource Guide for Government Contractors in COVID-19 Outbreak
As our fight against the COVID-19 pandemic continues to evolve, disruption to business operations is increasing. Over the past weeks, numerous state and municipal government bodies have issued...
View ArticleI Come From Down in the Valley, Where the Options Are Now Underwater:...
This is the 3rd major economic upheaval we have had in 20 some years, and once again we have a climate of widespread business uncertainty, employment instability, and economic suffering. Most of our...
View ArticleRelief . . . Just a Little Bit – IRS Notice 2020-23: Limited Extensions of...
In the midst of everything going on, we wanted to point out a few “under the radar” implications of IRS Notice 2020-23. The Notice, issued on April 9th, provides that tax-related deadlines that fall...
View ArticleI Think a Change, a Change Would Do You Good . . . Modifying Deferred...
In response to the unprecedented worldwide COVID-19 pandemic, businesses are turning to cash flow issues resulting from the abrupt economic downturn. Companies are looking to reduce operating costs...
View ArticleDeadlines and Commitments: DOL and IRS Temporary Rule for COVID
The US Department of Labor and Internal Revenue Service published temporary rules that extend certain deadlines under ERISA and the Internal Revenue Code applicable to retirement plans, group health...
View ArticleI will be here when you are ready, to roll with the changes . . . IRS...
In response to the global novel coronavirus pandemic, the Internal Revenue Service released guidance to allow temporary changes to section 125 cafeteria plans. These changes provide increased...
View ArticleMight as Well Face It… Your Annual Retirement Plan Audit is Not a Clean Bill...
With calendar year-end Form 5500s due on July 31, or October 15 with an extension (and still no COVID-19 filing relief as of the date this blog was published), it’s that time of year where plan...
View ArticleDon’t You Forget About Me . . . In Determining If Your Plan Had a Partial...
The financial impact of COVID-19 is hitting all industries, resulting in unprecedented unemployment numbers. Businesses experiencing difficult economic times are responding in different ways, some by...
View ArticleYou Gotta Keep ’Em Separated . . . IRS Permits Remote Signatures and...
In response to the global novel coronavirus pandemic, the Internal Revenue Service released welcome guidance in Notice 2020-42 granting temporary relief from the physical presence requirement for...
View ArticleMoves Like Jagger … But Is It Deductible? Taxation of Job Search and Moving...
Job mobility is a fact. Employees are more mobile than ever – changing jobs multiple times in a career. When an employee transitions between jobs and incurs job search and moving expenses, are those...
View ArticleSomewhere Over the Rainbow . . . Supreme Court Ruling May Pave the Way for...
Yesterday, in a landmark decision, the U.S. Supreme Court held that LGBTQ workers are protected from job discrimination. The Court held that Title VII of the Civil Rights Act of 1964, which makes it...
View ArticleMoney Talks But It Can’t Sing and Dance and It Can’t Walk . . . Department of...
For years, the Department of Labor (“Department”) cautioned that retirement plan investments that consider social-justice values rather than traditional measures like profits and losses, could result...
View ArticleInto the Mystic . . . Employee Benefit Considerations for Returning Workers
Many employers are venturing into uncharted waters as significant numbers of employees are being rehired or returning from extended leaves of absence (e.g., furloughed employees). In this environment,...
View ArticleIn Our Shangri-La – Terms for Code Section 280G Golden Parachute Taxes in...
Even in the current economic and business disruptions caused by COVID-19, we are still seeing key executive hiring go forward. Executive employment agreements contain many tax terms, and while some...
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