IRS Ruling Offers Taxpayers New Flexibility in Benefit Allocations

A recent IRS Letter Ruling may provide another opportunity for taxpayers to arrange their affairs and reduce their income tax burden.

IRS Private Letter Ruling Allows Flexible Choice Plan

In May 2024, the IRS issued a Private Letter Ruling (PLR 202434006) that permits a unique and flexible pre-tax plan arrangement.

Sponsor may let employees flex their benefits under new IRS ruling

A recent IRS private letter ruling (PLR) paves the way for a 401(k) plan sponsor to give employees flexibility to allocate an employer nonelective contribution.

Sponsor May Let Employees Flex Benefits Under New IRS Ruling

A recent IRS private letter ruling paves the way for a 401(k) plan sponsor to give employees flexibility to allocate an employer nonelective contribution.

IRS Private Letter Ruling Allows Employer to Increase Plan Design ...

The IRS also clarified that the proposed amendments do not allow the employer contribution to be paid in cash (or some other taxable benefit) or ...

IRS Gives Green Light for Employee Choice Between Different Pre ...

The Internal Revenue Service (IRS) Private Letter Ruling 202434006 (PLR) approves a program allowing employees to allocate an employer ...

John Campbell CPA on LinkedIn: IRS Ruling Offers Taxpayers New ...

Looking for ways to reduce your income tax burden? A recent IRS Letter Ruling offers new flexibility in benefit allocations.

IRS Private Letter Ruling Offers Employee Choice Between Tax ...

These proposed amendments offer employees a choice to allocate a portion of the 401(k) retirement plan's non-elective employer discretionary ...

Employee Plans news | Internal Revenue Service

A taxpayer is required to file Form 5330, Return of Excise Taxes Related to Employee Benefit Plans, electronically for tax years ending on or after December 31, ...

IRS approves employee choice program - WTW

The IRS approval of a new flexible choice design in benefit programs, allowing employees to choose where the employer contribution will be ...

How Flexible Are Your Benefits? IRS Allows Employee Choice To ...

In Private Letter Ruling 202434006 ("the PLR”) released August 23, 2024, the Internal Revenue Service ("IRS") approved an employee benefits ...

New IRS Ruling Creates More Flexible Options For Staff Benefits

Should You Accept IRS's New ERC Settlement Offer? · More Overlooked Tax Deductions · It's Not Too Late to Save on Your 2023 Taxes · New Strategy To ...

IRS Ruling Allows Employees to Choose Between Health ...

On May 20, 2024, the IRS issued private letter ruling (“PLR”) 202434006 (the “2024 PLR”) that permits employees to allocate an employer ...

Amy Hilfiker on LinkedIn: IRS Ruling Offers Taxpayers New ...

Looking for ways to reduce your income tax burden? A recent IRS Letter Ruling offers new flexibility in benefit allocations.

Publication 15-B (2024), Employer's Tax Guide to Fringe Benefits - IRS

Cents-per-mile rule. The business mileage rate for 2024 is 67 cents per mile. You may use this rate to reimburse an employee for business use of ...

2024 Publication 15-B - IRS

See Transportation. (Commuting) Benefits in section 2. Withholding on supplemental wages. P.L. 115-97 low- ered the federal income tax withholding rates on ...

Internal Revenue Bulletin: 2023-35 - IRS

The Treasury Department and the IRS concluded that a 50 percent standard is a reasonable standard, which strikes the right balance between ...

Publication 5530 (Rev. 2-2024) - IRS

The IRA is already yielding tangible benefits for taxpayers. With a ... Developing new online and other tools to help taxpayers meet their tax obligations.

2024 Publication 969 - IRS

Em- ployers have flexibility to offer various combinations of benefits in designing their plans. ... offers free tax help for all taxpayers ...

Bulletin No. 2024–22 May 28, 2024 HIGHLIGHTS OF THIS ISSUE

Revenue Service (IRS) to make certain allocations and elec- tions ... published ruling in a new ruling that is self contained. In this ...