IRS Issues Guidance on Uncashed Retirement Distribution Checks

By : October 10, 2019 Comments Off on IRS Issues Guidance on Uncashed Retirement Distribution Checks

Frequently, a 401(k) or other retirement plan will issue a distribution check payable to a terminated employee. The Internal Revenue Code generally requires the plan administrator (typically, the employer) to withhold income tax from the distribution and to report the

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Timely Mailed Is Not Always Timely Filed

By : September 27, 2019 Comments Off on Timely Mailed Is Not Always Timely Filed

Practitioners who file documents or make payments with the IRS that are required to be filed or paid by a certain date or period are familiar with section 7502(a). Simply stated, if the submission is properly addressed, it will be

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Want To Split Up With Your Business Partner?

By : August 29, 2019 Comments Off on Want To Split Up With Your Business Partner?

In PLR 201930011, released July 26, 2019, the Service ruled that the splitting up of a business between discordant shareholders of a closely held business qualified as a tax-free transaction pursuant to sections 368(a)(1)(D) and 355 (a divisive D reorganization). This

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New IRS guidance on multiple-employer 401(k) plans

By : August 15, 2019 Comments Off on New IRS guidance on multiple-employer 401(k) plans

IRS proposes to relax the “One Bad Apple Rule” A multiple-employer plan (MEP) is an employee benefit plan maintained by two or more employers. Many such plans are sponsored by companies that are not members of a common control group

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Senate Passes Taxpayer First Act

By : August 2, 2019 Comments Off on Senate Passes Taxpayer First Act

On June 13th, the Senate passed the Taxpayer First Act. The goal of the Taxpayer First Act is to restructure the IRS to better meet taxpayers’ needs. Although the bill is still awaiting presidential signature, its enactment is expected. The

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U.S. Government Intends To Appeal R&D Credit Jury Trial

By : July 17, 2019 Comments Off on U.S. Government Intends To Appeal R&D Credit Jury Trial

Recently, the government filed notice with the United States Court of Appeals for the Sixth Circuit that it was appealing the outcome of Audio-Technica U.S. v. United States. The lower court case, heard in the U.S. District Court for the Northern

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IRS announces end to faxed transcripts

By : July 2, 2019 Comments Off on IRS announces end to faxed transcripts

After June 27, 2019, the IRS will no longer fax the tax individual or business tax transcripts. This prohibition applies regardless of whether the tax transcript is requested by either the taxpayer or a third party, e.g., lenders and tax

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OSHA Log Posting Tips to Keep Your Company Compliant

By : June 19, 2019 Comments Off on OSHA Log Posting Tips to Keep Your Company Compliant

Keeping your business OSHA (the Occupational Safety and Health Administration) compliant may feel daunting due to the detailed nature of the logs, but it’s time well spent. Most businesses are required by OSHA to fill out detailed logs when an

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