Employee Benefit Plans
Employer Reporting Requirements for ISOs and ESPPs
New Reporting Requirements for Forms 3921 and 3922 Section 6039 of the IRC requires companies that issue stock options are now required to furnish their employees (including former employees) with information statements with regard to (i) the exercise of an incentive stock option (“ISO”) and (ii) the transfer of shares granted under certain employee stock purchase plans (“ESPP”) during calendar year 2010. The IRS recently issued final regulations under Code Section 6039 addressing the employer return and employee information statement requirements for transfers of stock pursuant to the exercise of ISOs and through ESPPs and clarifying certain reporting requirements. Reporting. Read More.
New IRS Guidance on Benefit Plan Rollovers, Conversions and Contributions
The IRS recently made available some resources to help answer taxpayer questions regarding 2010 rollovers and conversions to Roth IRAs, the calculation of plan contributions for the self-employed, and waivers of the 60-day rollover requirement. Roth Conversions FAQ – 2010 Rollovers and Conversions to a Roth IRA To qualify as a 2010 rollover or conversion to a Roth IRA, a traditional IRA or an employer-sponsored retirement plan must make a distribution in 2010 (or your taxable year beginning in 2010 if you are not a calendar-year taxpayer). The traditional IRA or plan can make the distribution: directly to your new. Read More.
New Benefit Plan Guidance on Rollovers, Conversions and Contributions from the IRS
The IRS recently made available some resources to help answer taxpayer questions regarding 2010 rollovers and conversions to Roth IRAs, the calculation of plan contributions for the self-employed, and waivers of the 60-day rollover requirement. Roth Conversions FAQ – 2010 Rollovers and Conversions to a Roth IRA To qualify as a 2010 rollover or conversion to a Roth IRA, a traditional IRA or an employer-sponsored retirement plan must make a distribution in 2010 (or your taxable year beginning in 2010 if you are not a calendar-year taxpayer). The traditional IRA or plan can make the distribution: directly to your new. Read More.
Small Business Jobs Act of 2010 Offers Tax Incentives for Businesses of All Sizes
On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 , or H.R. 5297 (hereafter, “the Act”). Though many of the Act’s provisions focus on small businesses , the new law also contains tax incentives that apply to all businesses as well as new retirement savings incentives for individuals . It is important to note that some of these provisions offer taxpayers a very small window of opportunity, requiring action before the end of the year to take advantage of the savings. INCENTIVES FOR ALL BUSINESSES The Act enhances and extends a number of tax incentives that were originally included in the Economic Stimulus Act of 2008 (“the 2008 Stimulus Act”) and the American Recovery and Reinvestment Act of 2009 (“the. Read More.
New Small Business Jobs Act Offers Numerous Tax Incentives
On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 , or H.R. 5297 (hereafter, “the Act”). Though many of the Act’s provisions focus on small businesses , the new law also contains tax incentives that apply to all businesses as well as new retirement savings incentives for individuals . It is important to note that some of these provisions offer taxpayers a very small window of opportunity, requiring action before the end of the year to take advantage of the savings. INCENTIVES FOR ALL BUSINESSES The Act enhances and extends a number of tax incentives that were originally included in the Economic Stimulus Act of 2008 (“the 2008 Stimulus Act”) and the American Recovery and Reinvestment Act of 2009 (“the. Read More.
Small Business Jobs Act of 2010 Also Offers Tax Incentives for Larger Businesses
On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 , or H.R. 5297 (hereafter, “the Act”). Though many of the Act’s provisions focus on small businesses , the new law also contains tax incentives that apply to all businesses as well as new retirement savings incentives for individuals . It is important to note that some of these provisions offer taxpayers a very small window of opportunity, requiring action before the end of the year to take advantage of the savings. INCENTIVES FOR ALL BUSINESSES The Act enhances and extends a number of tax incentives that were originally included in the Economic Stimulus Act of 2008 (“the 2008 Stimulus Act”) and the American Recovery and Reinvestment Act of 2009 (“the. Read More.