Form 5500 is the information return that must be filed by most employee benefit plans subject to ERISA (unless an exception applies). Failure to file this annual return for a plan can result in assessment of penalties by the IRS and DOL. Because the penalties can be severe, it is important to know what steps can be taken to reduce them if you realize that ...
Most employers realize that their retirement and welfare (e.g. health) plans are subject to ERISA and must comply with a variety of Department of Labor requirements. But unknown to many employers is that severance benefits can also be an ERISA covered plan, usually as a welfare plan, but sometimes as a pension plan. Because the determination of ...
The Tax Cuts and Jobs Act has changed the tax treatment of fringe transportation benefits. The new law makes it more expensive for employers to provide the same benefits to employees as a year ago. Employers will have to choose to eat the cost, cut the benefit entirely, or find another way.
Moving forward, employers will no longer be able to take ...