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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

Federal agencies finalize rules on health reimbursement arrangements

The federal government adds two new health reimbursement arrangement (HRA) options for employers starting in 2020.

TAX ALERT

IRS expands determination letter process for certain retirement plans

Internal Revenue Service expands determination letter process to statutory hybrids and merged plans, effective Sept. 1, 2019.

INSIGHT ARTICLE

Health savings accounts: A tax-free way to pay for medical expenses

Health savings accounts are a valuable tool for saving money for medical expenses since they offer a triple tax benefit.

TAX ALERT

Self-employed individuals and professional employer organizations

IRS advises that partners, sole proprietors and other non-employees cannot be Form W-2 employees of professional employer organizations.

TAX ALERT

IRS issues updated guidance for correcting qualified retirement plans

The internal revenue service guidance updated under Employee Plans Compliance Resolution System (EPCRS) is effective April 19, 2019.

TAX ALERT

Section 199A deduction and W-2 information return filing requirements

For section 199A deduction calculation purposes, it is critical for businesses to file timely its W-2 Wage and Tax Statements.

TAX ALERT

Reminder: Forms W-2 and 1099-MISC are due Jan. 31

The deadline for filing with the government is the same as for furnishing forms to your employees and independent contractors.

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