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Latest Tax Alerts

Check out the latest tax alert section of our website, full of links and articles for professional and personal tax news. Read More

Deadlines Extended for Qualified Opportunity Funds and Investors

The IRS has announced various extensions of deadlines ... Read More

Final Regulations Issued on FDII and GILTI Deduction

The Treasury and IRS have issued final regulations ... Read More

IRS Amends 199A Regs on Suspended Losses and RICs

The IRS amended final regulations with guidance on ... Read More

IRS Temporarily Allows Certain Retirement Plan Participants to Sign Elections Remotely

The IRS has released guidance that provides ... Read More

Wolters Kluwer Interview Outlook on Ever-Evolving Paycheck Protection Program

If you can look into the seeds of time, and say ... Read More

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Coronavirus-Related Distributions and Plan Loan Guidance

By: Steve Grgas, CPA, Partner


Steve Grgas, CPA, PartnerThe IRS has issued guidance on coronavirus-related distributions and plan loans. The guidance
• presents the rules set out in Act Sec. 2202 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act ( P.L. 116-136);
• adds three new categories to the list of individuals who qualify due to adverse financial consequences;
• provides analysis and examples of repayments reporting; and
• includes safe harbors for employee certification and the plan loan payment suspension period. ... Read More

Guidance on Reporting COVID-19 Qualified Sick and Family Leave Wages

By: Annemarie Aguanno, CPA, Senior Audit/Tax Manager


Annemarie Aguanno, CPA, Senior Audit/Tax ManagerThe IRS has issued guidance to employers on the requirement to report the amount of qualified sick and family leave wages paid to employees under the Families First Coronavirus Response Act (Families First Act) ( P.L. 116-127). This reporting provides employees who are also self-employed with information necessary for properly claiming qualified sick leave equivalent or qualified family leave equivalent credits under the Families First Act.

Under the Families First Act, many employers with fewer than 500 employees must provide... Read More

Mid-Year Safe Harbor Plan Amendments and COVID-19 Relief

By: Andrew Presti, Senior Partner


Andrew Presti, Senior PartnerThe IRS has clarified and provided relief for mid-year amendments reducing safe harbor contributions. An updated safe harbor notice and an election opportunity must be provided even if the change is only for highly compensated employees. Coronavirus (COVID-19) relief applies if a plan amendment is adopted between March 13, 2020, and August 31, 2020. For nonelective contribution plans ... Read More


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