DOL Delays Effective Date for Independent Contractor Regulations
The DOL Wage and Hour Division has finalized its proposal to delay until May 7, 2021, the effective date of final regulations on independent contractor status.
IRS Regulations Address Tax on Unrelated Businesses in Plans
The IRS has released final regulations on computing unrelated business taxable income (UBTI) for a tax-exempt organization.
Guidance Issued for Health Plans Regarding COVID-19 Services
The Departments of Labor, Health and Human Services, and Treasury have issued “FAQs About Families First Coronavirus Response Act and Coronavirus Aid, Relief, and Economic Security Act Implementation Part 44”.
House Passes COVID-19 Relief Bill
The House of Representatives has passed the American Rescue Plan Act of 2021 to provide additional relief to address the continued impact of COVID-19.
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.
IRS Details Additional Temporary Guidance for Cafeteria Plans
The IRS has issued Notice 2021-15, providing additional guidance and flexibility to employee benefit plans offering health FSA and dependent care arrangements.
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.
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