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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

IRS releases guidance on qualified transportation benefit deductions

The IRS provides guidance to assist in determining expenses for parking fringe benefits for purposes of section 274(a)(4) and 512(a)(7).

TAX ALERT

IRS provides initial guidance on section 83(i) qualified equity grants

Notice 2018-97 provides needed year-end clarity on certain interpretive and administrative issues for the new deferral opportunity.

TAX ALERT

IRS releases annual retirement plan limitations

Most retirement plan limitations see small increases from 2018 to 2019, including IRAs for the first time since 2013.

TAX ALERT

IRS issues favorable guidance for deducting business meals

The IRS issued interim guidance on the deductibility of certain business meal expenses that are related to entertainment activities.

TAX ALERT

Pre-2018 employee moving expenses are reimbursable in 2018, tax free

Notice 2018-75 clarifies that employers can exclude from employee wages reimbursements made after Jan. 1, 2018 for pre-2018 moving expenses.

TAX ALERT

Beware: Early release of draft Form W-9 could mean changes in October

Withholding agents should be prepared to begin collecting new Forms W-9 when the form is finalized which could be as early as Oct. 2018.

TAX ALERT

Proposed Tax Reform 2.0 includes retirement and savings plan changes

The Family Savings Act is meant to make it easier for families to save more earlier with hopes of helping to create financial security.

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