Employee Benefits Law Report

Tag Archives: tax law

IRS previews qualified plan determination letter changes in new guidance

The Internal Revenue Service (IRS) issued guidance on Jan. 4, 2016, that clarifies certain implications of its previously announced changes to the employee plans determination letter program. These clarifications, announced in Notice 2016-03 (Notice) are necessary to cover open issues raised from prior guidance that in effect shuts down the determination letter program for most … Continue Reading

Same-Sex Marriages Recognized for Federal Tax Purposes

The United States Department of the Treasury and the Internal Revenue Service (the “Agencies”) yesterday announced that same-sex couples who were legally married in jurisdictions that recognize same-sex marriages (i.e., either in states within the United States, United States territories or in other countries) will be treated as married for federal tax purposes. … Continue Reading

403(b) Plan Termination Roadmap

Section 403(b) plans were historically important for tax-exempt employers, but under current tax laws, maintaining a 403(b) plan may no longer be viable or advisable for an employer. An employer that wants to pull out the 403(b) plan termination roadmap first needs to ask a basic question: can I get the engine started (will the … Continue Reading