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401(k) plan corrections can your company benefit from the new IRS guidance?

Masuda Funai Eifert & Mitchell Ltd
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USA
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February 4 2013

On December 31, 2012, the Internal Revenue Service ("IRS") issued Revenue Procedure 2013-12. This new Revenue Procedure modifies and supersedes

401(k) corrections: I found an error with my 401(k) plan, now what?

Masuda Funai Eifert & Mitchell Ltd
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USA
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August 24 2012

Recently, several clients have identified problems with the administration of their 401(k) plans

IRS releases 401(k) Plan Compliance Check Interim Report

Masuda Funai Eifert & Mitchell Ltd
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USA
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February 6 2012

On Friday, February 3, 2012, the Tax Exempt and Government Entities Division (“TEGE”) of the Internal Revenue Service (“IRS”) released its 401(k) Plan Compliance Check Interim Report (the “Report”) that summarizes the results of the questionnaires that the IRS sent to 1,200 randomly selected plan sponsors who filed a Form 5500 for the 2006 through 2008 plan years

Additional guidance regarding reporting cost of group health insurance coverage

Masuda Funai Eifert & Mitchell Ltd
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USA
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January 10 2012

Recently, the Internal Revenue Service (“IRS”) issued Notice 2012-9 (the “Notice”), which restates and amends the interim guidance on reporting the cost of employer-sponsored group health insurance coverage on an employee’s Form W-2 in 2012

IRS announces qualified plan limitations for 2012

Masuda Funai Eifert & Mitchell Ltd
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USA
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October 24 2011

On Thursday, October 20, 2011, the Internal Revenue Service (“IRS”) announced the new qualified retirement plan limits for 2012

DOL and IRS will share information on employee misclassification

Masuda Funai Eifert & Mitchell Ltd
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USA
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September 26 2011

On Monday, September 19, 2011, Secretary of Labor Hilda L. Solis signed a memorandum of understanding with the Internal Revenue Service (“IRS”) to improve the agencies’ coordination regarding the practice of misclassifying employees as independent contractors

IRS to sponsor a free phone forum on plan loans

Masuda Funai Eifert & Mitchell Ltd
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USA
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August 29 2011

On September 12, 2011 at 2:00 p.m. Eastern time, the IRS will sponsor a free phone forum on participant loans from qualified retirement plans

IRS to sponsor a qualified plan corrections phone forum

Masuda Funai Eifert & Mitchell Ltd
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USA
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August 15 2011

On August 25, 2011 at 2:00 p.m. Eastern time, the IRS will sponsor a phone forum on the Employee Plans Compliance Resolution System

IRS increases business miles reimbursement rate

Masuda Funai Eifert & Mitchell Ltd
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USA
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July 5 2011

In Announcement 2011-40, the Internal Revenue Service revised the optional standard mileage rates for computing the deductible costs of operating an automobile for business purposes

IRS provides more guidance on reporting health care costs on W-2s

Masuda Funai Eifert & Mitchell Ltd
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USA
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April 4 2011

On March 29, 2011, the Internal Revenue Service ("IRS") released Notice 2011-28 which provides employers with additional guidance on reporting the cost of employer-sponsored group health plan coverage on an employee's Form W-2