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…
(authored by RSM US LLP) SECURE 2.0 provides new opportunities for plan participants to take retirement distributions without incurring early withdrawal penalties.
(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…
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…
(authored by RSM US LLP) Health reimbursement arrangements (HRAs) allow employers to pay employees’ medical expenses on a tax-free basis.
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,…
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…
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…
When you think about the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), you probably associate it with the stimulus checks sent to…
When employees contribute a percentage of their wages to their employer’s sponsored retirement plan, they often assume the money is transferred into their account on…