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6 Matching News Items |
| 1. |
Groom Law Group in Bloomberg Tax Management Compensation Planning Journal
Feb. 16, 2022
"A key issue in an IRS audit and related internal Form 5500 ... auditor review is to ensure that the various definitions of compensation under a tax-qualified retirement plan are being properly implemented. This article provides background on this issue and discusses various definitions of compensation, the potential consequences of the mistreatment of compensation definitions, and related considerations that are important to maintain the tax qualified status of a plan."
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| 2. |
De-Risking Pitfalls: Annuity Contracts, Plan Terminations and the Excise Tax on Surplus Assets (PDF)
Groom Law Group in Bloomberg Tax Management Compensation Planning Journal
May 9, 2019
"Various factors -- the timing between the funding of the annuity purchase and the purchase itself ... the quality of plan data ... or the discovery of additional liabilities or plan assets -- can influence the annuity contract purchase price. To the extent assets remain in a plan following the purchase of an annuity, recovering those amounts can be costly -- and may not even be possible -- unless the sponsor can show the amounts were contributed due to an erroneous actuarial computation or mistake of fact."
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| 3. |
Groom Law Group in Bloomberg Tax Management Compensation Planning Journal
Aug. 11, 2022
"[A] plan will sometimes provide a separate employee elective deferral election on bonuses when the plan already includes bonus payments in its definition of compensation. This article provides background on this issue and discusses the consequences of providing separate deferral elections on bonuses, the potential risks of permitting such separate elections, and related considerations that are important to maintain the tax-qualified status of a plan."
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| 4. |
Groom Law Group in Bloomberg Tax Management Compensation Planning Journal
Aug. 4, 2019
"[P]roviding relief for the one bad apple rule is another step on the road toward facilitating the broader adoption of MEPs by small employers.... [T]he most likely game changer will be the SECURE Act, when and if it passes, which provides enhanced relief from both the ERISA and one bad apple challenges to MEPs."
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| 5. |
IRS Makes Changes to Determination Letter Application Program and Electronic Filing in General (PDF)
Groom Law Group in Bloomberg Tax Management Compensation Planning Journal
Sept. 14, 2022
"This year, Rev. Proc. 2022-4 made some notable changes to the determination letter application filing process. This article provides background on changes made under the Revenue Procedure to the determination letter filing process, including utilizing pay.gov, some 'nuts and bolts' advice regarding navigating the website, filing an IRS Form 2848 electronically, and related considerations."
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| 6. |
Groom Law Group in Bloomberg Tax Management Compensation Planning Journal
Mar. 8, 2021
"[T]he guidance does not have the force and effect of law, and does not bind the regulated community. As such, it may be too soon to tell whether this non-binding guidance is helpful or adds increasing burdens to plan sponsors."
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Syntax Enhancements for Standard Searches
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