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You are here: Home / Archives for Lowell Walters

Good News for Federal Contractors With Affordable Care Act Concerns

August 16, 2018 by Lowell Walters

Federal contractors subject to the Service Contract Act might appreciate knowing that the IRS understands that they must generally offer a cash payment to employees who decline coverage. While that would ordinarily be treated as making coverage less affordable and more likely to violate the Affordable Care Act’s affordability requirements, the IRS will not necessarily treat it this way; particularly in light of the 2017 executive order directing the IRS to exercise ... Keep Reading »

Filed Under: Employee Benefits

Retirement Plans Can Solve the Million-Dollar Problem for Entities at Risk of Excise Taxes on Compensation

June 26, 2018 by Lowell Walters

All entities, including governmental entities, are now potentially liable for penalties[1] due to overpaying employees. For-profit companies have been at risk for losing their tax deduction for excessive salaries, with publicly-traded companies subject to a specific $1 million limit that the Tax Cuts & Jobs Act (Act) just made easier to exceed,[2] and certain nonprofit organizations have been at risk for “intermediate sanctions,”[3] but the Act also created a new ... Keep Reading »

Filed Under: Employee Benefits

Tax Incentive for Paid Family Medical Leave May Alleviate FMLA Benefit Complications

February 19, 2018 by Lowell Walters

Not only does the Tax Cuts and Jobs Act contain a tax incentive to promote the offering of paid family medical leave (FML), but it creates a lower-cost way to eliminate common complications that arise when employees are unable to continue paying health plan premiums while on unpaid leave. Tax Incentive. Specifically, newly created IRC 45S provides a tax credit for employers with an eligible paid FML policy. Generally, the policy must provide for payment of at least 50 ... Keep Reading »

Filed Under: Employee Benefits

Practical Insights on DOL Guidance Affecting Retirement, Medical and Disability Plans

February 1, 2018 by Lowell Walters

On January 5, the Department of Labor (DOL) announced that regulations it previously proposed will apply to certain retirement and medical disability claims filed after April 1. This article focuses on a few practical considerations. Practical Comments. We recommend employers consider the following when weighing whether the new regulations will impact benefit plans: Normally, when we think of “disability claims,” we think of medical plans or short or long term ... Keep Reading »

Filed Under: Employee Benefits

A Game Plan for Employers Facing Possible ACA Penalties

January 17, 2018 by Lowell Walters

All employers are at risk of receiving a notice from the IRS that they are liable for a penalty under the Affordable Care Act for failing to offer enough employees insurance coverage, or for failing to offer particular employees insurance coverage. This alert offers a game plan to implement upon receipt of that notice. Continue Reading on CarltonFields.com » ... Keep Reading »

Filed Under: Employee Benefits

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A blog focused on recent developments in tax law by the attorneys of Carlton Fields.

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