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IRS issues final regulations regarding Affordable Care Act’s premium tax credit

Hodgson Russ LLP
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USA
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July 31 2012

On May 18, 2012, the IRS issued final regulations relating to the health insurance premium tax credit enacted as part of the Affordable Care Act

Discounted stock options subject to Section 409A penalties

Hodgson Russ LLP
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USA
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April 30 2013

Ruling in favor of the IRS, the U.S. Court of Federal Claims confirmed in a recent case that discounted stock options are deferred compensation

IRS clarifies treatment of dividends and dividend equivalents paid on restricted stock and restricted stock units under section 162(m)

Hodgson Russ LLP
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USA
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August 29 2012

Internal Revenue Code (IRC) 162(m) generally prohibits a publicly traded corporation from deducting compensation paid to “covered employees” in excess of $1 million per year

IRS further delays interest crediting rules under cash balancehybrid plans

Hodgson Russ LLP
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USA
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December 21 2011

A key piece of the Pension Protection Act of 2006 (PPA) relating to cash balance and other hybrid plans was a requirement that these plans may not provide for interest credits exceeding a market rate of interest

Plan not required to restore 401(k) funds fraudulently withdrawn by ex-wife

Hodgson Russ LLP
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USA
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November 29 2012

Confirming for plan sponsors the importance of maintaining and following plan procedures, the U.S. Court of Appeals for the Tenth Circuit upheld a 2010 decision by an Oklahoma district court that a 401(k) plan administrator did not abuse his discretion in deciding that a company 401(k) plan should not reimburse a participant for funds fraudulently withdrawn from his account by the participant’s ex-wife

IRS announces extensions and new filing system for deferred vesteds

Hodgson Russ LLP
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USA
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July 29 2011

For many years, qualified retirement plans have been required to file a Form SSA with the plan's annual Form 5500 to report participants who have separated from service with deferred benefits, but who have not yet been paid out by the end of the plan year following the year of separation

Treasury, IRS seek public input and comment on health care reform shared responsibility provisions

Hodgson Russ LLP
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USA
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July 29 2011

Under health care reform, employers with 50 or more full-time employees that do not offer affordable health coverage to their full-time employees may be required to make a shared responsibility payment

IRS issues important reminders for retirement plans

Hodgson Russ LLP
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USA
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April 15 2011

The Internal Revenue Service (IRS) recently issued three reminders addressing the new submission period for determination letter and other rulings, fee changes, and certain corrections through the IRS's Voluntary Correction Program (VCP

Failure to update inactive plan leads to plan disqualification

Hodgson Russ LLP
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USA
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May 20 2011

For a second time in recent months, the Tax Court has ruled that a qualified retirement plan, in this case a profit sharing plan, may be disqualified and its tax-exempt status retroactively revoked for defects relating a failure to timely amend the plan document to reflect statutory changes

The Trade Adjustment Assistance Extension Act extends Health Coverage Tax Credit

Hodgson Russ LLP
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USA
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December 21 2011

On October 11, 2011, the Trade Adjustment Assistance Extension Act was signed into law

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