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CORRECTING LATE DEPOSITS: STEPS TO TAKE WHEN YOU MISS A REMITTANCE DEADLINE

We recently wrote about remittance schedules and discussed things plan sponsors can do to help them meet the deadlines for depositing employee contributions in a timely manner. But even plan sponsors with the best intentions and safeguards in place occasionally miss their remittance deadlines. So, when this happens, the question becomes: What

EMPLOYEE BENEFITS TRENDS TO WATCH IN 2019

Last year brought several changes that had a direct impact on the employee benefits world, including wide-ranging tax reform, new European protections on electronic data, and a host of ERISA-specific regulatory changes. In addition to these developments, a tightening labor market and the continued growth of the “gig” economy caused

HOW EMPLOYERS CAN CALCULATE NONDEDUCTIBLE EMPLOYEE PARKING EXPENSES, AND POSSIBLY REDUCE THEM BY MARCH 31, 2019

Background Employer business deductions for qualified transportation fringes ended in 2018. The 2017 tax reform known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, amended Sec. 274(a)(4) by eliminating employer business deductions for employee[1] qualified transportation fringe (QTF) benefit expenses, including qualified parking[2], mass transit and van pool benefits (although

IMPACT OF SEQUESTRATION ON CORPORATE AMT CREDIT REFUNDS

On January 14, 2019, the IRS updated its announcement (the “IRS Announcement”), Effect of Sequestration on the Alternative Minimum Tax Credit for Corporations to clarify that refundable alternative minimum tax (AMT) credits under Section 53(e) are not subject to sequestration for taxable years beginning after December 31, 2017. AMT Credits and Bonus DepreciationA