Employer | Cg Tax, Audit & Advisory

12 Aug

Will Your Organization’s Health Insurance Still be “Affordable” Next Year?

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August 10, 2020

The IRS recently announced 2021 indexing adjustments for some critical percentages under the Affordable Care Act (ACA). This makes now a good time to review whether your organization is an applicable large employer (ALE)...

04 Aug

Employer

IRS Relief Available for Midyear Contribution Changes to Safe Harbor 401(k)s

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August 3, 2020

In response to the COVID-19 crisis, the IRS recently issued Notice 2020-52. It offers sponsors of safe harbor 401(k) plans with temporary relief from certain requirements applicable to midyear reductions or suspensions of contributions....

27 Jul

Employer, Families First Coronavirus Response Act

Form W-2 Reporting of COVID-19-Related Sick Leave and Family Leave

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July 24, 2020

In Notice 2020-54, the IRS recently provided guidance to employers on Form W-2 reporting of qualified sick leave wages and qualified family leave wages. These are the wages paid to employees under the Families...

20 Jul

Employer, Helpful COVID-19 Links

Communicate Carefully About Compensation During the Pandemic

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July 17, 2020

The COVID-19 pandemic and resulting economic fallout have spurred layoffs and furloughs for many employers. As the months pass, organizations that have retained employees face another dilemma: How should we handle compensation changes? Pay raises...

15 Jul

Employer, Helpful COVID-19 Links

IRS Guidance on “Coronavirus-Related” Retirement Plan Distributions

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July 14, 2020

In Notice 2020-50, the IRS recently provided guidance on “coronavirus-related distributions” from retirement plans under Section 2202 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Here are some pertinent details for employers. Pension...

06 Jul

Employer, Helpful COVID-19 Links

COVID-19-Leave Donation Programs Now Eligible For Tax Relief

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July 6, 2020

The IRS recently announced special tax relief for leave-based donation programs set up by employers to aid those directly affected by the COVID-19 pandemic. Under such programs, an employer can allow its employees to...

29 Jun

Employer

IRS Relief Addresses Physical Presence Requirement For Retirement Plan Signatures

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June 29, 2020

Under IRS regulations regarding electronic consents and elections, if a signature must be witnessed by a retirement plan representative or notary public, it must be witnessed “in the physical presence” of the representative or...

15 Jun

Coronavirus Tax Filing & Payment, Employer

COVID-19-Related Deadline Relief Affects HSAs and Retirement Plans

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June 15, 2020

The IRS recently issued another notice extending tax deadlines because of the COVID-19 pandemic. Notice 2020-35 supplements IRS Notice 2020-23 and earlier guidance by extending the deadlines for certain additional time-sensitive actions relating to...

01 Jun

Employer

What Rules Apply to “PTO Buying” Under a Cafeteria Plan?

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May 29, 2020

The novel coronavirus (COVID-19) pandemic has forced many people to cancel or postpone vacations, as well as travel plans to visit friends and family. While staying home to stay safe — and, often, to...

18 May

Employer

IRS Addresses CARES Act Relief For Retirement Plan Distributions and Loans

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May 15, 2020

The IRS recently issued frequently asked questions (FAQs) regarding retirement plan distribution and loan relief under the Coronavirus Aid, Relief and Economic Security (CARES) Act. This relief applies to qualified individuals affected by the...

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