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  • Author: Dennis Lassila, Bob Kilpatrick
  • Promulgation date: 2014-00-00
  • Language: English
  • Price: 2802.8HKD
Book Abstract
The continuing legislative, administrative, and judicial activity in the compensation taxation field has increased the breadth and complexity of the field, as well as the need for awareness of the legal aspects and practical considerations. Likewise, the need for current and comprehensive guidance with respect to compensation tax rules has increased. Accordingly, this book provides up-to-date coverage of the federal tax laws concerning executive and employee compensation and benefits. The Patient Protection and Affordable Care Act of 2010, The Small Business Jobs Act of 2010, The American Taxpayer Relief Act of 2012, and other recent tax laws and pertinent regulations, administrative rulings, and case law through April 2014 are incorporated throughout. This 2014 edition has been updated to reflect the following developments since the 2013 publication:
• The Supreme Court's decision in Windsor, resulting in Federal recognition of same-sex marriage and its application (including elective retroactive application) by the IRS and DOL to spousal benefits to same-sex marriages validly entered into in a state whose laws authorize such marriages, even if the married couple is domiciled in a state that does not recognize the validity of same-sex marriages;
• The Supreme Court's decision in Quality Stores, that separation payments made to former employees are subject to FICA taxes;
• Final Treasury regulations under IRC § 401(k) and (m) providing guidance on permitted mid-year reductions or suspensions of safe harbor contributions if the employer is operating at an economic loss or provides notice to participants of a possible reduction or suspension;
• Final Treasury regulations under IRC § 4980H that, among other things, postpone the effective date of the employer mandate provisions under the Patient Protection and Affordable Care Act of 2010;
• Final Treasury regulations under IRC § 83(c) concerning the rules under which a transfer of property to an employee is considered to be subject to a substantial risk of forfeiture;
• Proposed PBGC regulations that simplify premium payments for defined benefit plans;
• Various IRS rulings, pronouncements, and notices, including those that (a) update the Employee Plans Compliance Resolution System (EPCRS), under which employers may correct certain operational failures and avoid plan disqualification, (b) provide guidance on in-plan Roth rollovers, (c) provide relief from anti-cutback rules for an ESOP amendment that eliminates in-service distribution options in lieu of diversifying employer stock investments; (d) provide the terminal charge and per mile rates for plane rides provided by employers to employees for the employee's personal purposes; (e) provide updates for the applicable IRS rates for per diem employer reimbursement of employee transportation and meals and lodging expenses for business purposes; and (f) provide guidance concerning the application of the Supreme Court decision in Windsor for employer health and accident insurance plans, cafeteria plans, and qualified retirement plans;
• Various court decisions, such as (a) Vancouver Clinic v U.S., in which a District Court held that advances paid to newly hired physicians were taxable compensation; (b) Bobrow v Commissioner, in which the U.S. Tax Court held that the one rollover limit from traditional IRAs applies to all traditional IRAs held by the participant; (c) Cramer v. Appalachian Regional Health Care, Inc., concerning whether an nonqualified deferred compensation was a top hat plan; and (d) Phillips v Commissioner, concerning an instance where the 10 percent early distributions penalty tax applied to a distribution from a participant's IRA; and
• The 2014 cost-of-living adjustments for all amounts throughout the book.

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