IRS Guidance

Covered Compensation Tables for 2019

Document Excerpt This revenue ruling provides tables of covered compensation under § 401(l)(5)(E) of the Internal Revenue Code and the Income Tax Regulations thereunder, for the 2019 plan year. Link https://www.irs.gov/pub/irs-drop/rr-19-06.pdf

IRS No Longer Intends to amend Required Minimum Distribution Regulations to deal with Pension De-risking

Document Excerpt This notice is to inform taxpayers that the Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) no longer intend to amend the required minimum distribution regulations under Section 401(a)(9) of the Internal Revenue Code (Code) to address the practice of offering retirees and beneficiaries who are currently receiving annuity […]

Qs and As on Reporting on Offers of Coverage by Employers

Document Excerpt Certain employers are required to report to the IRS information about whether they offered health coverage to their employees and if so, information about the coverage offered. This information also must be provided to employees. These FAQs address these reporting requirements. Link https://www.irs.gov/affordable-care-act/employers/questions-and-answers-on-reporting-of-offers-of-health-insurance-coverage-by-employers-section-6056

Qs and As on Information Reporting under Section 6055

Document Excerpt Information reporting under section 6055 for health coverage providers. More information is available on the information reporting for providers of minimum essential coverage page. Link https://www.irs.gov/affordable-care-act/questions-and-answers-on-information-reporting-by-health-coverage-providers-section-6055

FAQs for Employers Adopting Pre-approved Plans

Document Excerpt Link https://www.irs.gov/retirement-plans/pre-approved-retirement-plan-adopting-employers-faqs

Exclusion of the Value of Meals from Taxable Income

Document Excerpt Link https://www.irs.gov/pub/irs-wd/201903017.pdf

Correcting Mistaken Contributions to an HSA

Document Excerpt This letter responds to your request for information concerning mistaken contributions to a Health Savings Account (HSA). Link https://www.irs.gov/pub/irs-wd/18-0033.pdf

Tax Exempt and Governmental Entities Accomplishment Letter

Document Excerpt In our Fiscal Year 2019 Program Letter released on October 3, 2018, we promised to release the complete fiscal year (FY) 2018 accomplishments under a separate document when final results became available. We are pleased to announce that those results are now available and encourage you to read the information provided to learn […]

IRS Releases Annual Guidance

The IRS has released its annual guidance including Revenue Procedure 2019-4 providing guidance on obtaining a determination letter. https://www.irs.gov/irb/2019-01_IRB

Request for Comments Regarding Calculation of UBTI for Exempt Entities with more than One Unrelated Trade or Business

Document Excerpt Section 13702 of “An Act to provide for reconciliation pursuant to titles II and IV of the concurrent resolution on the budget for fiscal year 2018,” Public Law 115-97 (131 Stat. 2054 (2017)) (the Act), enacted December 22, 2017, added new § 512(a)(6) to the Internal Revenue Code (Code). Section 512(a)(6) requires an […]

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