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| Tax-Qualified Plans |
HEART Act Affects Qualified Plans, Health FSAs, and Military Differential Pay - 08/08
Employee Benefits & Executive Compensation
August 11, 2008
Richard L. Arenburg
Christopher J. Rylands
In June, the President signed the Heroes Earnings Assistance and Relief Tax Act ("HEART Act") into law. The HEART Act amends certain provisions that were added by the Uniformed Services Employment and Reemployment Rights Act of 1994.
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2008 Cost-of-Living Adjustments Announced - 10/07
Employee Benefits and Executive Compensation
October 19, 2007
Christopher J. Rylands
The IRS has recently announced the cost-of-living adjustments applicable to dollar limitations for tax-qualified retirement plans.
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409A Update: Action Required by December 31, 2007 - 10/07
Employee Benefits and Executive Compensation
October 2, 2007
Richard L. Arenburg
Armin G. Brecher
Paul F. Concannon
Edmund Emerson III
Jennifer Faucett
Castles R. Hollis
Christopher J. Rylands
Steven G. Schaffer
on September 10, 2007, the IRS issued Notice 2007-78 (the "Notice") and granted limited relief for bringing nonqualified deferred compensation plans into written compliance with Section 409A of the Internal Revenue Code. However, the Notice still requires most major decisions be made and documented before December 31, 2007.
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Pension Protection Act of 2006: Changes for Defined Contribution Plans - 12/15/06
Employee Benefits & Executive Compensation
December 15, 2006
Richard L. Arenburg
Armin G. Brecher
Paul F. Concannon
Edmund Emerson III
Castles R. Hollis
Christopher J. Rylands
Steven G. Schaffer
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2007 Cost-Of-Living Adjustments Announced - 10/23/06
Employee Benefits & Executive Compensation
October 23, 2006
Paul F. Concannon
Edmund Emerson III
Christopher J. Rylands
The Internal Revenue Service has recently announced the cost-of-living adjustments applicable to dollar limitations for tax-qualified retirement plans. The limits are generally effective January 1, 2007 (or in some cases applicable, for plan years beginning on or after January 1, 2007.)
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Application of Deferred Compensation Rules under Code Section 409A to Separation Pay Arrangements - 02/06/06
Employee Benefits & Executive Compensation
February 6, 2006
Edmund Emerson III
Steven G. Schaffer
The Treasury Department and the Internal Revenue Service have issued proposed regulations regarding the application of Section 409A of the Internal Revenue Code to nonqualified deferred compensation plans or arrangements.
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2006 Cost-of-Living Adjustments Announced 10/21/05
Employee Benefits & Executive Compensation
October 21, 2005
Edmund Emerson III
Steven G. Schaffer
The Internal Revenue Service has recently announced the cost-of-living adjustments applicable to dollar limitations for tax-qualified retirement plans. The limits are generally effective January 1, 2006 (or in some cases applicable, for plan years beginning on or after January 1, 2006).
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IRS Determines Certification Programs Constitute Unrelated Trade or Business for Section 501(c)(3) Organizations - 10/14/04
Tax
October 14, 2004
In this issue of the Powell Goldstein Tax Alert we discuss the IRS's recent private letter ruling that the certification program of an organization exempt under section 501(c)(3) of the Internal Revenue Code ("the Code") constitutes an unrelated trade or business. The certification program was found to be directed primarily at serving the interests of a profession and the professional and business interests of persons employed in that industry, and only incidentally served the interests of the public. The program was therefore found not to accomplish one or more of the exempt purposes of the organization under section 501(c)(3) and was subject to taxation as an unrelated trade or business.
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