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IRS Releases Detailed Guidance on CARES Withdrawal and Loan Relief

USA - July 1 2020 On June 19, 2020, the Internal Revenue Service (“IRS”) released guidance (Notice 2020-50) clarifying many aspects of the retirement plan withdrawal…

Peter Daines, R. Sterling Perkinson

IRS Addresses the Timing of Employment Tax Deposits for Various Stock Awards

USA - June 3 2020 On May 22, 2020, the IRS released an Office of Chief Counsel Memorandum (the Memo) that addresses (i) when income inclusion and the withholding of…

Jennifer Stobie Schumacher

Proposed Coronovirus Aid Package Includes Emergency Withdrawal & Loan Relief for Retirement Savings Accounts

USA - March 23 2020 The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) that is currently being debated in Congress has provisions that, if enacted…

Todd Castleton

2019 6th Circuit Case Emphasizes Potential Employer Liability to Participants for 409A Violations

USA - July 26 2019 Although employees face additional taxes and decreased benefits resulting from employer failures involving nonqualified deferred compensation (NQDC)…

Mark L. Stember

IRS Modifies EPCRS by Allowing Employers to Self-Correct Additional Plan Failures

USA - April 25 2019 On April 19, 2019, the IRS issued Revenue Procedure 2019-19 (Rev. Proc. 2019-19), which modifies the Employee Plans Compliance Resolution System…

Mark L. Stember