The IRS has issued the updated priority guidance plan for the third quarter fiscal 2014-2015. Some of the payroll-related items relating to executive compensation, health care, and benefits are below.
Guidance regarding election procedures under Code Sec. 83(b).
• Guidance under Code Sec. 119 and Code Sec. 132 regarding employer-provided meals.
• Regulations on cafeteria plans under Code Sec. 125.
• Guidance under Code Sec. 132(f) on the use of electronic forms of fare media to distribute qualified transportation fringe benefits. A request for comments was published in Notice 2012-38, IRB 2012-24. Published 12/08/14 in IRB 2014-50 as Rev. Rul. 2014-32 (Released 11/21/14). Final regs Published 03/31/15 in FR as TD 9716.
• Final regulations under Code Sec. 162(m) on the stock-based compensation aggregate limit rule under Treas. Reg. §1.162-27(e)(2), and the transition relief under Treas. Reg. §1.162-27(f)(1). Proposed regulations were published June 24, 2011.
• Final regulations under Code Sec. 162(m)(6), as added by §9014 of the Affordable Care Act (ACA). Published 04/02/13 in FR as REG-106796-12 (NPRM). Published 09/23/14 in FR as TD 9694.
• Guidance under Code Sec. 280G and Code Sec. 4999(a) on change in ownership.
• Regulations under Code Sec. 404 on the application of the “in which or with which ends” rule and the exceptions to that rule in Reg. §1.404(a)-12(b).
• Final regulations on income inclusion under Code Sec. 409A. Proposed regulations were published on December 8, 2008.
• Revenue Ruling under Code Sec. 419A on the definition of post-retirement medical benefits.
• Regulations amending Reg. §1.419A-2T relating to collectively-bargained welfare benefit funds.
• Regulations under Code Sec. 457(f) on ineligible plans.
• Final regulations under Code Sec. 512 explaining how to compute unrelated business taxable income of voluntary employees’ beneficiary associations described in §501(c)(9) . Proposed regulations published on February 6, 2014.
• Guidance updating the reporting requirements for sick pay benefits. Published 02/02/15 in IRB 2015-5 as NOT 2-15-6 (Released 01/14/15).
• Final regulations under Code Sec. 3402(p)(3) to allow the Secretary to issue guidance in the Internal Revenue Bulletin to describe payments for which the Secretary finds that voluntary income tax withholding is appropriate. Temporary and proposed regulations were published on November 29, 2013. Published 09/16/14 in FR as TD 9692.
• Regulations under Code Sec. 4980G on the interaction of Code Sec. 4980G and Code Sec. 125 with respect to comparable employer contributions to employees’ HSAs.
• Guidance under Code Sec. 6053 regarding tips.
• Guidance under Code Sec. 6402 on employee consents obtained by employer to claim a refund of FICA taxes. Published 03/02/15 in IRB 2015-9 as NOT 2015-15 (Released 02/13/15).
• Notice on application of retroactive increase in excludable transit benefits. Published 1/26/15 in IRB 2015-4 as NOT. 2015-2 (Released 01/08/15).
• Announcement on application of Quality Stores Supreme Court decision to claims for refund of employment taxes. Published 03/02/15 in IRB 2015-9 as ANN. 2015-8 (Released 02/10/15).
• Notice on Work Opportunity Tax Credit (WOTC) extension for 2014. Published 03/09/15 in IRB 2015-10 as NOT. 2015-13 (Released 02/19/15).
• Final regulations on Code Sec. 3406 backup withholding for payment card transactions. Proposed regulations were published March 24, 2014. Published 10/27/14 in FR as TD 9699.
• Guidance under Code Sec. 6050S regarding information reporting on tuition and related expenses. (U.S. Department of the Treasury, Office of Tax Policy and IRS, 2014-2015 Priority Guidance Plan, Third Quarter Update, Released April 28, 2015.)
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