Employee Compensation and Benefits Tax Guide

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Print Book :1 volume, softbound
2017 Edition
ISBN: 9781522132394
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The field of taxation of employee and executive compensation and benefits is complex, dynamic, and ever-changing. Since 1980, there have been changes to the law affecting fringe benefits, qualified plans, and other types of compensation almost every year. The Pension Protection Act of 2006 (PPA06) (PL No. 109-280) contained the most extensive changes affecting qualified deferred compensation plans since the passage of ERISA in 1974. The American Jobs Creation Act of 2004 (AJCA) (PL No. 108-357) made the most significant change to the taxation of nonqualified deferred compensation plans in over fifty years.

The continuing legislative, administrative, and judicial activity in the compensation taxation field has increased the breadth and complexity of the field, as well as the need for awareness of the legal aspects and practical considerations. Likewise, the need for current and comprehensive guidance with respect to compensation tax rules has increased. Accordingly, this new book provides up-to-date coverage of the federal tax laws concerning executive and employee compensation and benefits. The Patient Protection and Affordable Care Act of 2010, The Small Business Jobs Act of 2010, The American Taxpayer Relief Act of 2012, The 2015 Bipartisan Budget Act, the Protecting Americans from Tax Hikes Act of 2015 (PATH), and other recent tax laws and pertinent regulations, administrative rulings, and case law through March 2017 are incorporated throughout. This 2017 edition has been updated to reflect important developments since the 2016 publication, including the following:

•  21st Century Cures Act (December 2016) which included enactment of Qualified Small Employer Health Reimbursement Arrangements;
•  The promulgation of temporary and final regulations pertaining to various provisions affecting employer provided health care arrangements under provisions of the Patient Protections and Affordable Health Care Act of 2010;
•  Final regulations under IRC § 7701 providing definitions of the term husband and wife lawfully married to each other under provisions of state law including same sex couples;
•  Final regulations permitting defined benefit plans to offer participants the choice of taking a portion of their benefit in a lump sum and the remainder in annuity payments, thus providing flexibility for plan participants in designing their retirement income;
•  Proposed reliance regulations to allow amounts in plan forfeiture accounts to offset future employer contributions to be treated as qualified matching contributions (QMACs) or qualified nonelective contributions (QNECs);
•  Proposed regulations to reflect PPA06 statutory changes regarding interest rates and mortality tables used in computing the present value of accrued benefits under defined benefit plans;
•  Final regulations providing a single distribution rule to apply to distributions from a Designated Roth account to more than one other qualified plan;
•  Proposed regulations providing updated guidance pertaining to IRC § 409A Nonqualified Deferred Compensation plans;
•  Proposed regulations under IRC § 457(f) with guidance pertaining to participants in plans that are not qualified under § 457 and updates for selected other aspects of § 457;
•  And more!

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Table of Contents

CHAPTER 1 Overview

CHAPTER 2 Current Compensation

CHAPTER 3 Employee Fringe Benefits, in General

CHAPTER 4 Employee Fringe Benefit Plans

CHAPTER 5 Introduction to Multiemployee Qualified Deferred Compensation Plans

CHAPTER 6 Requirements for Qualified Plans

CHAPTER 7 Special Rules for Keogh, Top-Heavy, and § 401(k) Plans

CHAPTER 8 Employer Deduction and Funding Rules

CHAPTER 9 Taxation of Distributions from Qualified Plans

CHAPTER 10 Traditional IRAs/SEPs/SIMPLE IRAs/Roth IRAs/Deemed IRAs

CHAPTER 11 Employee Stock Ownership Plans

CHAPTER 12 Fiduciary Responsibilities and Prohibited Transactions

CHAPTER 13 Reporting and Disclosure

CHAPTER 14 Nonqualified Deferred Compensation, in General

CHAPTER 15 Equity-Oriented Arrangements