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IRS Updates

As employee benefits programs increase in sophistication and flexibility, the complexity of tax compliance often increases as well. RSM understands the tax ramifications of employee benefits plans and regularly shares updates on tax concerns and compliance issues related to these plans. See below for some of our most recent IRS updates. 

Featured insights

TAX ALERT

Final section 6050Y regulations mean new 1099-LS and 1099-SB for many

The IRS has published final section 6050Y regulations requiring reporting of sales and acquisitions of certain life insurance contracts.

INSIGHT ARTICLE

Regulations on acquired corporate life insurance policies

Favorable rule for corporate stock acquisitions where life insurance contracts are less than 50 percent of the target corporation’s assets.

TAX ALERT

Proposed regulations update tables used to calculate RMD

The IRS issues proposed regulations to update the life expectancy tables to reflect current, longer life expectancy rates.

INSIGHT ARTICLE

Employers have new health reimbursement arrangement options for 2020

The federal government will expand health reimbursement arrangement (HRA) with two new options starting in 2020.

TAX ALERT

IRS releases 2020 retirement plan limitations

The IRS publishes applicable annual limitations and maximums for retirement plans, resulting in small increases for 2020.

INSIGHT ARTICLE

Qualified small employer health reimbursement arrangements

Qualified small employer health reimbursement arrangements allow small employers to pay employee medical expenses on a tax-free basis.

TAX ALERT

Nov. 15th deadline for 2019 QI, WP and WT application looms near

All companies seeking QI, WP, or WT status for 2019 must apply by Nov. 15, 2019 to have an agreement in effect.

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