Compensation & Benefits Newsletter - Fall 2017

November 2017

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In the fall issue of the Compensation and Benefits quarterly newsletter, we offer insights on how to utilize recent guidance regarding issues that are important for tax planning purposes. 
 


FICA Taxation of Nonqualified Deferred Compensation Plans

As payroll departments prepare for year-end reporting, it may be useful to review two IRS memos released in 2017 concerning FICA taxes imposed on nonqualified deferred compensation.
 


IRS Clarifies Rules on Employee Discounts Offered to Friends and Family

IRS guidance helps clarify how the employee discount rules should be applied. 
 
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Avoiding ACA Employer and Individual Penalties for Expatriates

IRS findings bear a review of the proposed regulations issued in June 2016 regarding the elements necessary for an individual to qualify as an expatriate and an employer’s plan to qualify as an expatriate health plan for purposes of avoiding ACA penalties for both employers and their employees.
 
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IRS Released 2017 ACA Information Returns

Notwithstanding executive orders signed by the President and ongoing efforts to repeal and replace the Affordable Care Act, the reporting requirements still apply for 2017 with the first due date on January 31, 2018.  
 
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Each quarter the Compensation and Benefits practice writes about important tax planning topics. Subscribe to receive this newsletter. 
 

For more information, please contact one of the following practice leaders:
 
Andrew Gibson
Partner and Practice Leader
 
  Peter Klinger
Principal
National Tax Office

 
Joan Vines
Managing Director
National Tax Office
  Carlisle Toppin
Managing Director
National Tax Office

 
Paul Cheung
Managing Director