Suzanne G. OdomBlog Posts

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  • IRS Issues Proposed Regulations for Tax-Exempt Organizations Paying Excess Executive Compensation

    The IRS issued proposed regulations under Section 4960 of the Internal Revenue Code of 1986, as amended (the “Code”), which was added as part of the Tax Cuts and Jobs Act.   The proposed regulations published in the Federal Register on June 11, 2020, largely follow the IRS interim guidance under IRS Notice 2019-09. However, the...… Continue Reading
    June 22, 2020
  • COBRA Compliance Through a COVID-19 Lens

    Over the last few weeks, we have seen significant changes affecting COBRA compliance. Employers should contact their COBRA administrators to discuss the best practices in light of these developments, which include the Department of Labor’s publication of new model COBRA notices and COVID-19 notice and premium payment extensions.  We have a helpful article that discusses... Continue Reading…
    June 1, 2020
  • COBRA Compliance Through a COVID-19 Lens

    Over the last few weeks, we have seen significant changes affecting COBRA compliance. Employers should contact their COBRA administrators to discuss the best practices in light of these developments, which include the Department of Labor’s publication of new model COBRA notices and COVID-19 notice and premium payment extensions.  We have a helpful article that discusses...… Continue Reading
    June 1, 2020
  • IRS Releases FAQ for Coronavirus-Related Retirement Plan Relief

    On May 4, 2020, the Internal Revenue Service released much-anticipated guidance related to implementing the retirement plan aspects of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) enacted on March 27, 2020, see our article here.  Although the questions and answers fall short of resolving all open questions, they provide helpful insight into...… Continue Reading
    May 7, 2020
  • IRS Releases FAQ for Coronavirus-Related Retirement Plan Relief

    On May 4, 2020, the Internal Revenue Service released much-anticipated guidance related to implementing the retirement plan aspects of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) enacted on March 27, 2020, see our article here.  Although the questions and answers fall short of resolving all open questions, they provide helpful insight into... Continue Reading…
    May 7, 2020
  • IRS Extends the Form 5500 Due Dates for Some Employee Benefit Plans

    The Internal Revenue Service has broadened the filing and payment relief provided under prior guidance. IRS Notice 2020-23 postpones, among other relief, the due date for employee benefit plans required to make the Form 5500 series filings due on or after April 1, 2020, and before July 15, 2020.  Plans with original due dates or...… Continue Reading
    April 13, 2020
  • IRS Extends the Form 5500 Due Dates for Some Employee Benefit Plans

    The Internal Revenue Service has broadened the filing and payment relief provided under prior guidance. IRS Notice 2020-23 postpones, among other relief, the due date for employee benefit plans required to make the Form 5500 series filings due on or after April 1, 2020, and before July 15, 2020.  Plans with original due dates or... Continue Reading…
    April 13, 2020
  • The CARES Act Effect on Retirement Plans

    On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act.  The Act largely stabilizes fragile industries, provides loans and tax credits to businesses tied to their retaining their workforces during these uncertain times, and offers additional unemployment relief to employees hurt by COVID-19.  But the CARES Act...… Continue Reading
    April 1, 2020
  • Special COVID-19 Health Insurance Enrollment Windows and Waivers

    As a result of the ongoing COVID-19 pandemic, we are observing all sorts of never-before-seen changes in the fully-insured group health plan space.  Many insurers are liberally waiving their normal rules to accommodate the continuation of coverage to employers and employees in their time of need.  Although the accommodations are welcome, employers need to exercise...… Continue Reading
    March 24, 2020
  • Employee Benefits Issues to Consider Before Deciding to Furlough or Terminate Employees During the COVID-19 Pandemic

    With the combination of our nation’s response to COVID-19 and the resultant economic downturn, employers of all sizes face the moral and financial dilemma of evaluating employee headcounts while businesses are grappling with the reality of the current situation.  Many employers are considering furloughs, or other types of approved leaves of absences, to reduce immediate...… Continue Reading
    March 19, 2020

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