Employee benefits

TOPICS / TAX

May 28, 2019

2020 limits on HSA contributions are issued

The IRS issued its annual notice of the inflation-adjusted limits on contributions to health savings accounts. All of the limits increased from 2019 to 2020.

March 1, 2019

IRS clarifies new qualified equity grants

Income recognition from exercise or settlement of employer stock options and RSUs may be deferred for up to five years.

December 11, 2018

IRS explains disallowance of qualified transportation fringe benefits for parking

The IRS issued guidance outlining how to determine the amount of parking expense that is nondeductible under Sec. 274(a)(4) when employers provide parking for their employees.

December 7, 2018

Initial guidance issued on Sec. 83(i) deferral election for private company equity grants

The IRS issued initial guidance on the application of Sec. 83(i), which allows certain employees to defer recognition of income attributable to the receipt or vesting of qualified stock.

December 1, 2018

New tax credit for paid family and medical leave

Employers that offer this benefit to qualified employees can receive a credit worth up to 25% of the cost.

November 1, 2018

Inflation adjustments issued for qualified retirement plans

The IRS released updated figures for retirement plan contribution limits for 2019.

October 25, 2018

Health reimbursement arrangement rules are issued in proposed form

The Treasury, Labor, and Health and Human Services departments proposed rules for health reimbursement arrangements, which can be used in coordination with individual health insurance if certain requirements are met.

September 24, 2018

Rules issued on paid family and medical leave credit

The IRS released guidance on the new Sec. 45S tax credit for employers that provide paid medical and family leave.

August 1, 2018

SEPs: Simple but not always optimal

Simplified employee pension (SEP) plans can be attractive in the short term but over the long term can be expensive, inefficient, and inflexible.

May 10, 2018

IRS issues HSA contribution limits for 2019

The IRS issued the inflation-adjusted contribution limits for 2019 for health savings accounts.

April 26, 2018

IRS gives taxpayers relief from erroneous HSA contributions

The IRS announced it will allow taxpayers to treat $6,900 as the 2018 limit for deductible contributions to HSAs for individuals with family coverage.

March 1, 2018

Aiding employees after a disaster via Sec. 139

This little-known provision allows payments to be excludable from employees’ income and deductible by the employer.

February 6, 2018

IRS announces 2018 pension contribution limits under tax reform act

The IRS revealed that the recalculated 2018 pension contribution limits are unchanged from the numbers issued before the tax reform bill was enacted.

February 1, 2018

Defined benefit plans in the big picture

Comprehensive financial planning can uncover when the advantages of a defined benefit plan for a small business might outweigh those of a defined contribution plan.

January 23, 2018

Government funding bill postpones some health care taxes

The continuing resolution to fund the government through Feb. 8 also delays the so-called Cadillac tax on high-cost health plans for an additional two years beyond 2019.

January 1, 2018

Qualified small employer HRAs get guidance

The IRS answers questions on health reimbursement arrangements, which were reinstated for small employers after PPACA market reform rules generally penalized the popular coverage option.

October 19, 2017

2018 pension plan contribution limits are announced

The IRS released the inflation-adjusted amounts that apply to pension and 401(k) plans for 2018.

October 1, 2017

Wellness program benefits: Tax free or not?

Make sure your employer health incentives can pass an IRS examination.

September 1, 2017

Employee discount plans

Employers must follow complex rules to exclude employee discounts from taxable income.

July 13, 2017

Revised Senate health bill would retain taxes on higher-income individuals

The health care bill released by Senate Republicans on Thursday would retain the Affordable Care Act’s 3.8% net investment tax and the 0.9% Medicare surtax.

FROM THIS MONTH'S ISSUE

Cannabis dispensary denied ERC

The Court of Federal Claims held that Sec. 280E, which prohibits deductions and credits for businesses trafficking in controlled substances, applies to the employee retention credit (ERC), including its refundable portion, and denied a cannabis business’s claim for a refundable ERC.