- There are many elements of the proposed Tax Reform Act of 2014 that would result in significant changes for not-for-profit organizations.
- US IRS has released the final version of Form W-8BEN-E for use by entities certifying the status of beneficial account owners to meet the reporting and withholding requirements under the Foreign Account Tax Compliance Act.
- This two-part article series, published in PSC’s Service Contractor Magazine, explores aspects of SCA compliance unique to this contracting environment, and provide tools and techniques for contractor risk mitigation.
- The long procedural history of United States v. Quality Stores finally ended on March 25, 2014, when the Supreme Court held that severance payments paid by Quality Stores in connection with a “reduction in force,” were subject to FICA taxes. Prior to reaching the Supreme Court, the decision had been decided in favor of Quality Stores by the Bankruptcy Court, a US District Court and the Sixth Circuit Court of Appeals.
- To ensure employee benefit plans meet certain Internal Revenue Service (IRS) and Department of Labor (DOL) standards, plans must be subjected to a number of compliance tests each year. These tests are often referred to as the annual non-discrimination tests, and are required of plans in order to maintain their tax exempt status.
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