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Section 204(h) and lump sum guidance issued for defined benefit plans

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • November 7 2007

On November 6, 2007, the Internal Revenue Service addressed (through a posting on its website) whether an ERISA section 204(h) notice is required in 2007 for certain defined benefit plan amendments required by the Pension Protection Act of 2006

403(b) salary reduction agreement defined for FICA purposes

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • November 26 2007

On November 15, 2007, the Treasury and Internal Revenue Service published final regulations defining section 403(b) 'salary reduction agreements' for FICA purposes

IRS provides limited relief and additional guidance under Code Section 409A - full analysis

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • September 14 2007

A Legal Alert that we sent out on September 11, 2007 contained a high level summary of Notice 2007-78 (the "Notice"), which provides limited additional relief and guidance with respect to nonqualified deferred compensation plans under section 409A of the Internal Revenue Code

FATCA proposed legislation enacted as part of HIRE Act

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • March 18 2010

On March 18, 2010, the President signed into law the Hiring Incentives for Restoring Employment Act (H.R. 2847) (“HIRE Act”), which incorporated the anti-avoidance revenue provisions previously contained in the proposed Foreign Account Tax Compliance Act (“FATCA”

DOL issues 403(b) guidance

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • July 25 2007

In conjunction with the publication of final tax regulations under Section 403(b), the Labor Department has issued a field assistance bulletin considering the interaction of ERISA with these final regulations

Supreme Court holds Chevron deference applicable to “interpretive” regulations

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • January 26 2011

The U.S. Supreme Court’s recent decision in Mayo Found. for Medical Education and Research v. United States (January 11, 2011), on the standard of deference for judicial review of “interpretive” tax regulations, will inform both the future regulation-writing process for and challenges to employee benefit and executive compensation tax regulations

IRS rules on Section 419 funds utilizing cash value life insurance

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • October 22 2007

On October 17, 2007, the Internal Revenue Service issued a revenue ruling taking the position that an employer’s contribution to a welfare benefit fund may not be deductible, in whole or in part, under section 419 to the extent the fund pays premiums on cash value life insurance policies

New worker classification procedures affect IRSDOL compliance and enforcement efforts

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • September 26 2011

On September 21, 2011, the Internal Revenue Service (IRS) introduced its new Voluntary Classification Settlement Program (VCSP), which provides meaningful tax relief for employers that agree to prospectively reclassify as employees workers previously treated as independent contractors

IRS releases Chief Counsel Advice on year-end bonus accruals

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • December 14 2009

As the end of the year approaches, many companies are establishing a 2009 bonus accrual so that they can take a 2009 deduction for bonuses paid early in 2010

P.L. 86-27-who? Virginia Tax Commissioner determines single employee creates nexus

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • November 26 2013

The Virginia Tax Commissioner found that a corporation with a single employee in Virginia who conducted work-related activities from a Home Office