The IRS considers the misclassification of workers as independent contractor instead of employees as a major contributing factor to the “tax gap.”
On Sept. 13, 2011, the Department of Labor (the DOL) issued Technical Release 2011-03 regarding the use of electronic media to satisfy the new participant disclosure requirements under DOL Regulation 2550.404a-5 (the Participant Disclosure Regulation).
This newsletter briefly discusses several recent developments in employee benefits and executive compensation that may be of interest to our clients.
The Internal Revenue Service (IRS), Department of Labor (DOL), and Department of Health and Human Services (HHS) modified the review process for claims for benefits under non-grandfathered health plans once again.
The new health care law, otherwise known as the Patient Protection and Affordable Care Act (PPACA), requires that, beginning after December 31, 2013, "applicable large employers" must provide affordable health coverage to their full-time employees.
The Department of Labor ("DOL") has issued a Request for Information ("RFI") to solicit comments and suggestions from employers, plan sponsors and other interested parties regarding the use of electronic media by employee benefit plans to furnish information to participants and beneficiaries in accordance with the requirements of the Employee Retirement Income Security Act of 1974 ("ERISA").
In a continuing effort to provide information and guidance to smaller employers, the IRS and the Department of Labor's Employee Benefits Security Administration (EBSA) have jointly issued IRS Publication 4222, entitled 401(k) Plans for Small Business.
On December 23, 2010, the IRS issued Notice 2011-1 regarding the application of the nondiscrimination rules under Internal Revenue Code (Code) section 105(h) to non-grandfathered insured group health plans pursuant to the Patient Protection and Affordable Care Act (PPACA).
On December 22, 2010, the Internal Revenue Service ("IRS") issued IRS Notice 2011-1 (the "Notice") delaying the application of the nondiscrimination rules under Section 105(h) of the Internal Revenue Code (the "Code") to fully-insured group health plans.
In March, President Obama signed the Patient Protection and Affordable Health Care Act (PPACA) and the Health Care and Education Reconciliation Act of 2010 (HCERA), together referred to as the Act.