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IRS Updates Guidance on Deductibility of Expenses Paid With PPP Loan Proceeds

USA - November 23 2020 The IRS recently released additional guidance about the tax treatment of expenses paid with proceeds of Paycheck Protection Program loans. The PPP…

Gary R. Glenn, Gregory A. Nowak, Maria B. Hiltunen, Ryan J. Riehl.

The Department of The Treasury Answers Some Questions Regarding Trump’s Payroll Tax Deferral, But Leaves More Unanswered

USA - September 1 2020 On Friday, Aug. 28, 2020, the Department of the Treasury released Notice 2020-65 (the "Notice") which provides some long-awaited guidance for the…

Gary R. Glenn, Ryan J. Riehl.

Pres. Trump’s Tax Deferral Plan Raises Questions for Employers

USA - August 11 2020 On Saturday, Aug. 8, Pres. Donald Trump signed the "Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster,"…

Gary R. Glenn, Ryan J. Riehl.

Employer Action Required to Take Advantage of Guidance for Cafeteria Plans

USA - May 19 2020 The Internal Revenue Service (“IRS”) has issued two important notices allowing employer-plan sponsors to amend their §125 cafeteria plans to provide…

Samantha A. Kopacz.

U.S. Government Extends Certain Deadlines For Employee Benefit Plans Due To COVID-19 National Emergency

USA - April 30 2020 Recognizing the challenges facing employee benefit plan sponsors, administrators, and participants, on April 28, 2020, the Departments of Treasury…

Samantha A. Kopacz.