IRS Guidance

New Mailing Address for EP Including Determination Letter Applications

Document Excerpt Effective immediately, the mailing address for EP submissions for determination letters, letter rulings and IRA opinion letters is: Internal Revenue Service 7940 Kentucky Drive MS 31A Florence, KY 41042 Link https://www.irs.gov/faqs/retirement-plans/new-mailing-address-for-employee-plans-submissions

Chief Counsel Memorandum Reminding What is Required to have a Deductible Contribution

Document Excerpt Link https://www.irs.gov/pub/irs-wd/201935011.pdf

ACA Provider Fee for 2020

Document Excerpt This notice provides the Applicable Amount for the fee imposed by Section 9010 of the Patient Protection and Affordable Care Act (PPACA) for the 2020 fee year. Link https://www.irs.gov/pub/irs-drop/n-19-50.pdf

IRS Again Extends Temporary Nondiscrimination Relief for Closed Defined Benefit Plans

Document Excerpt This notice extends the temporary nondiscrimination relief for closed defined benefit plans that is provided in Notice 2014-5, 2014-2 I.R.B. 276, by making that relief available for plan years beginning before 2021 if the conditions of Notice 2014-5 are satisfied. Link https://www.irs.gov/pub/irs-drop/n-19-49.pdf

Guidance for Employers and Employees when Participants don’t cash Distribution Checks

Document Excerpt (1) Individual A’s failure to cash the distribution check she received in 2019 does not permit her to exclude the amount of the designated distribution from her gross income in that year under § 402(a). (2) Individual A’s failure to cash the distribution check she received does not alter Employer M’s obligations with […]

Indexed Section 36B Amounts

Document Excerpt This revenue procedure provides indexing adjustments for certain provisions under § 36B of the Internal Revenue Code. In particular, it updates the applicable percentage table in § 36B(b)(3)(A)(i) (Applicable Percentage Table) to provide the Applicable Percentage Table for calendar year 2020. This table is used to calculate an individual’s premium tax credit. Link […]

Additional Preventive Services Permitted by High Deductible Health Plans

Document Excerpt This notice expands the list of preventive care benefits permitted to be provided by a high deductible health plan (HDHP) under section 223(c)(2) of the Internal Revenue Code (Code) without a deductible, or with a deductible below the applicable minimum deductible (self-only or family) for an HDHP. Link https://www.irs.gov/pub/irs-drop/n-19-45.pdf

Multiple Employer Plans Proposed Regulations

Document Excerpt SUMMARY: This document sets forth proposed regulations relating to the tax qualification of plans maintained by more than one employer. These plans, maintained pursuant to section 413(c) of the Internal Revenue Code (Code), are often referred to as multiple employer plans or MEPs. The proposed regulations would provide an exception, if certain requirements […]

Proposed Regulations on Withholding on Periodic and Non-periodic Payments

Document Excerpt This document contains a proposed regulation regarding withholding on certain periodic and nonperiodic distributions under section 3405, other than eligible rollover distributions. This regulation would affect payors and payees of these distributions. Link https://www.federalregister.gov/documents/2019/05/31/2019-11292/withholding-on-certain-distributions-under-section-3405a-and-b

Inflation Adjusted HSA Limits for 2020

Document Excerpt This revenue procedure provides the 2020 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code. Link https://www.irs.gov/irb/2019-22_IRB#REV-PROC-2019-25

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