The IRS has issued the updated priority guidance plan for the first quarter fiscal year 2015-2016. Some of the payroll-related items relating to executive compensation, health care, and benefits are below.
• Regulations regarding election procedures under Code Sec. 83(b). Published 07/17/15 in FR as REG-135524-14 (NPRM).
• Regulations under Code Sec. 119 and Code Sec. 132 regarding employer-provided meals.
• Guidance under Code Sec. 280G and Code Sec. 4999(a) on change in ownership.
• 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 under Code Sec. 3511 and Code Sec. 7705 on Certified Professional Employer Organizations as added by §206 of the Stephen Beck, Jr., Achieving a Better Life Experience (ABLE) Act of 2014.
• Guidance under Code Sec. 6053 regarding tips.
• Revenue procedure under Code Sec. 6402 on employee consents obtained by employer to claim a refund of FICA taxes. Notice 2015-15 with a proposed revenue procedure was published on March 2, 2015.
• Notice on application of retroactive increase in excludable transit benefits. Published 01/25/16 in IRB 2016-4 as NOT. 2016-6 (Released 01/11/16).
• Notice providing guidance on the Work Opportunity Tax Credit (WOTC) including transition relief. Published 03/28/16 in IRB 2016-13 as NOT. 2016-22 (Released 03/07/16).
• Regulations under §199 regarding allocation of W-2 wages in a short taxable year and in an acquisition or disposition.
Published 08/27/15 in FR as TD 9731 (FINAL and TEMP). (U.S. Department of the Treasury, Office of Tax Policy and IRS, 2015-2016 Priority Guidance Plan, April 29, 2016.)
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