Key takeaways of IRS Notice 2020-29 Mid-year cafeteria plan elections permitted in response to COVID-19. Participants may revoke or change existing elections. Revocation of health coverage requires attestation regarding availability of other coverage. Participants who previously declined coverage may elect coverage. Plans can provide an extended period for unused amounts remaining in a flexible spending […]
Cafeteria Plan, Covid-19The CARES Act was signed into law on March 27, 2020. Some guidance has been issued but more guidance isneeded in many areas, so we are keeping this ALERT simple. The provisions are effective immediately. Someprovisions are of limited duration. It remains to be seen if the restrictions will change. Provision Change Act Section Effective […]
401(k), Cafeteria Plan, DOL, IRSAs a result of the Windsor decision same gender marriages are recognized for Federal tax purposes if the couple is married in states that recognize same gender marriages regardless of where the couple may be domiciled (see ErisaALERT 2013-04). The IRS has issued Notice 2014-1 providing additional guidance relating to the impact of the Windsor […]
Cafeteria Plan, DOMA, domestic partner, FSAIRS Issues Proposed Cafeteria Plan Regulations
WHAT IS IT?: – On August 3, 2007 the IRS issued proposed regulations on Cafeteria Plans. With one exception regarding life insurance, the regulations are effective January 1, 2009. Comments on the proposed regulations are due November 5th with hearings to be held on November 15th. MORE
Cafeteria Plan, H&W, health & welfare, ndt, Nondiscrimination testing(c) 2015 Erisa Diagnostics - We focus on benefits, so you can focus on business