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…
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…
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…
Many businesses are not aware their employee benefit plans may come with annual reporting obligations. Most employee benefit plans – that are large plans –…
Employers who withhold employee salaries as contributions to benefits plans must act as timely and efficient stewards of these funds or risk fines from the…
Retirement plans are not static documents. As the laws and regulations that govern employee contribution plans change, employers need to update their plan documents to…
Employers must routinely make adjustments to their defined contribution retirement plans in order to stay in compliance with the IRS.
It’s more important than ever for employers to determine that their benefit plans adhere to Department of Labor and Internal Revenue Service regulations, as these…