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Employee Plan News

Joint Explanatory Statement of the Committee of Conference – Tax provisions in the “Fixing America’s Surface Transportation (FAST) Act”

Joint Explanatory Statement of the Committee of Conference – Tax provisions in the “Fixing America’s Surface Transportation (FAST) Act”

Joint Explanatory Statement of the Committee of Conference On December 3, one day before the expiration of the previously-passed temporary funding measure, both chambers of Congress passed H.R.22, the “Fixing America’s Surface Transportation (FAST) Act”. The bill was sent to President Obama for his expected signature. In addition to authorizing federal surface transportation programs through […]

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Employee plan determination letter program to be revised; no off-cycle letter applications

Employee plan determination letter program to be revised; no off-cycle letter applications

Ann. 2015-19, 2015-32 IRB IRS has announced that, effective Jan. 1, 2017, the staggered 5-year determination letter remedial amendment cycles for individually designed plans will be eliminated, and the scope of the determination letter program for individually designed plans will be limited to initial plan qualification and qualification upon plan termination. A transition rule will […]

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Wake-up call for employers on complex ACA information reporting requirements

Wake-up call for employers on complex ACA information reporting requirements

The Summer, 2015, issue of the SSA/IRS Reporter, a Newsletter for Employers, carries an important reminder that employers subject to the Affordable Care Act’s (ACA) employer shared responsibility (ESR) provisions should already be tracking the data they’ll need to file complex information reporting forms early in 2016. The newsletter cautions that many employers will need […]

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IRS cautions plan administrators to document hardship distributions and plan loans

IRS cautions plan administrators to document hardship distributions and plan loans

In the latest edition of its Employee Plans News, IRS cautions plan administrators that they must document and keep necessary records of each employee hardship distribution and plan loan. The result of noncompliance could be a qualification failure for the plan.  Click here for the April 1, 2015 Edition of IRS’s Employee Plans News newsletter. Background on […]

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2015 Changes To IRS’s Employee Plans Determination Letter Program

2015 Changes To IRS’s Employee Plans Determination Letter Program

Ann. 2015-1, 2015-2 IRB   IRS has announced several changes to the Employee Plans determination letter program that will take effect in 2015 and that are being adopted as a result of a process improvement strategy designed to promote case processing efficiency. These changes will be reflected in Rev Proc 2015-6, 2015-IRB, which is updated […]

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Issue Number 2014-5: IRS Employee Plan News

Issue Number 2014-5:  IRS Employee Plan News

In this edition of the Employee Plans News:  IRA one-rollover-per-year rule – Beginning as early as January 1, 2015, you can only make one rollover during any 1-year period from all your IRAs (Announcement 2014-15) New two-year period to adopt pre-approved defined contribution plans – most opinion and advisory letters to be issued on March […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney