© 2021 RSM US LLP. All rights reserved.
Compensation and Benefits
Structuring programs to compete for talent in today’s market
Effective compensation and benefits programs are central to your ability to attract and retain talent in today’s hypercompetitive employment market. The good news? You have more options to choose from than ever before, enabling you to more closely tailor your compensation and benefits programs to your business strategy and to your employees’ needs. But that complexity is also the bad news. How do you choose the right options without creating undesirable tax complications? How do you keep your plans aligned with your strategy in an evolving business environment? How do you deal with the uncertainties and compliance burdens of constantly changing regulations?
At RSM, we understand. We’ve been helping middle market businesses make the right compensation and benefits choices to support their unique strategies for decades. From plan design and implementation to the full range of compliance, tax and reporting challenges you face, we’re ready to help.
Notice 2021-25 provides temporary relief on deductions for food or beverage under the Taxpayer Certainty and Disaster Relief Act.
Eight new initiatives, affecting exempt orgs, employee plans and tax-exempt bonds, added to IRS Compliance Programs and Priorities website.
The Relief Act made changes on how the Employee Retention Tax Credit works during the first two quarters of 2021.
The American Rescue Plan Act provides significant aid and funding for suffering pension plans, in part through direct financial assistance.
Despite receipt of PPP loans, hospitality businesses may be eligible for retroactive 2020 and new 2021 credits.