Plan Sponsors, are You Ready for New Forfeiture Rules?
In February 2023, the IRS released proposed regulations that address how plan administrators should treat and report contributions that have been forfeited back to their
New retirement plan distribution options introduced by SECURE 2.0
(authored by RSM US LLP) SECURE 2.0 provides new opportunities for plan participants to take retirement distributions without incurring early withdrawal penalties.
Credits and incentives available to retirement plan sponsors
(authored by RSM US LLP) Employers with less than 100 employees who have recently adopted or are considering a retirement plan have a tax savings opportunity.
The Importance of Choosing a Quality Auditor for Employee Benefit Plans
For years, employee benefit plans (EBPs) have been under a regulatory microscope. Recently, the Department of Labor (DOL) issued a report, Audit Quality Study, November
Tax-advantaged health reimbursement arrangements for employees
(authored by RSM US LLP) Health reimbursement arrangements (HRAs) allow employers to pay employees’ medical expenses on a tax-free basis.
90-Day Pre-Exam Compliance Program for Retirement Plans
In June, the IRS began piloting a new compliance program for benefit plan sponsors. This program gives benefit plans 90-days’ notice of an upcoming examination,
LaPorte Auditors Partner with Houston Business Journal on EBP Article
Jordan Montz, CPA, Audit Senior Manager, and Douglas Hidalgo, Audit Director, CPA, CCIFP, recently partnered with the Houston Business Journal to offer tips on avoiding
IRS Introduces New Form 1099-NEC for 2020 Tax Year Reporting
Beginning in January of 2021, the IRS will require businesses to report non-employee compensation using a new Form 1099-NEC. Amounts formerly reported on Form 1099-MISC
Timely Deposits of Participant 401(k) Plan Contributions More Important Than Ever
What Employee Benefit Plan Sponsors Need to Know About Cybersecurity
Most organizations have some sort of formal plan in place to protect their electronic data, but many of those security measures neglect to address these
Company Layoffs May Lead to EBP “Partial Plan Terminations”
Business owners need to be aware that significant employee layoffs may lead to unintended partial plan terminations. In our region, oil and gas companies could