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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

Importance of corporate structure for employee stock ownership plans

An IRS private letter ruling illustrates how employee stock ownership plans are governed by the corporate sponsor’s structure.

TAX ALERT

Reasonable compensation rules not intended to apply to partnerships

Mention of “reasonable compensation” in the new 20 percent passthrough deduction isn’t meant to incorporate the S corporation rule.

TAX ALERT

First and Sixth Circuits agree that Roth IRA can own DISC

IRS substance-over-form argument to re-characterize transactions between a DISC and IRA as excess contributions rejected by First Circuit.

TAX ALERT

Relief comes for retirement plans after Hurricane Maria and wildfires

Retirement plans affected by Hurricane Maria and the California wildfires may find regulatory relief provided by federal agencies.

TAX ALERT

401(k) deferral limit increases for 2018

The IRS released its annual retirement plan limitations for 2018 with few increases, while others remain the same.

TAX ALERT

California disaster relief includes retirement accounts

The IRS has provided disaster relief, including retirement accounts, to the taxpayers affected by the wildfires in California.

TAX ALERT

IRS adds leave-based donation to list of Irma relief

The amount of vacation, sick or personal leave that employees forgo for their employers to make a charitable contribution is not taxable.

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