COVID-19 Relief for Benefit Plans Continued
The DOL’s Employee Benefits Security Administration (EBSA) has released Disaster Relief Notice 2021-01 providing guidance on the duration of COVID-19-related relief.
IRS Issues Deadline Relief for Texas Victims of Winter Storms
The IRS has issued a news release announcing the postponement of certain tax-related deadlines for Texas winter storm victims.
New Withholding Form to Be Used for 2022
The IRS has made available a 2022 tax year draft Form W-4P and indicates that the form will be split into two forms.
Notices for 2019 Forms 5500 Series Extension Approvals
The IRS has announced that processing requests for an extension of time to file 2019 Forms 5500 series returns were delayed in 2020, resulting in delayed mailing of Notice CP 216F.
Missing Participants: Prevention is the Best Cure
Unfortunately, many employers don’t consider how to handle missing participants’ account balances or how to prevent losing track of participants in the first place.
New IRS Guidance for Federally Declared Disasters
At the end of 2019, the IRC was amended to create a mandatory 60-day postponement for certain federal tax-related deadlines in the event of a disaster.
DOL Confirms Effective Date for Investment Advice PTE
The DOL’s EBSA has confirmed that prohibited transaction exemption 2020-02 entitled, “Improving Investment Advice for Worker & Retirees,” will take effect on February 16.
Pandemic Relief Package Includes Benefit Provisions
Legislation proposed by the House Ways and Means Committee to provide pandemic relief includes several items that would affect retirement and health benefits.
DOL Proposes Delay for Independent Contractor Regulations
The DOL Wage and Hour Division has proposed a delay of the effective date for final regulations on independent contractor status.
IRS Releases Final QPLO Regulations
Plan participants have more time to roll over certain plan loan offsets under the Tax Cuts & Jobs Act of 2017 (TCJA).
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