Does the DOL Have a Program for Correcting 401(k) Plan ERISA Mistakes?
QUESTION: I know the IRS has a correction program for certain retirement plan errors. Since retirement plans are subject to …
Experts Delve into Business, Manufacturing Provisions in House Tax Reform Bill
With the House Ways and Means Committee debating the tax portion of a reconciliation bill, tax professionals discussed key provisions for businesses …
Policy, Budget Impacts of GOP Tax Bill Key Provisions
The House Ways and Means Committee shared a portion of its plans to address expiring provisions of the 2017 Tax Cuts and …
New York Enacts Income Tax Reductions, New Tax Credits, Makes Other Changes
By Jill C. McNally On May 9, 2025, New York Governor Kathy Hochul signed A3009, implementing the state’s fiscal plan for …
House Ways and Means Releases Partial Tax Bill Text
On Friday, May 9, the Ways and Means Committee shared partial text for the tax portion of a reconciliation bill …
Small Business Reps Divided on Trump Tax Cuts
As House taxwriters prepare for a possible markup of major tax legislation, ‘Main Street’ business owners and organization affiliates shared differing …
Tax Policy Groups Seek Withdrawal of Partnership Basis Shifting Guidance
The IRS should withdraw guidance issued last year providing that certain partnership transactions between related parties lack economic substance when …
Intern Intricacies: Classifying Your Summer Help Without Getting Burned
By Debbie Tam It’s that time of year when businesses open their doors to young workers who are on school …
IRS Announces 2026 HSA and EBHRA Contribution Limits, HDHP Minimum Deductibles, and HDHP Out-of-Pocket Maximums
Rev. Proc. 2025-19 (May 1, 2025) Available at https://www.irs.gov/pub/irs-drop/rp-25-19.pdf The IRS has released the 2026 cost-of-living adjusted limits for health …
Bessent Discusses Vision for IRS, Tax Reform with Lawmakers
House appropriators questioned Treasury Secretary Scott Bessent about shifting priorities for the IRS under the Trump administration and ongoing tax …