Solutions Newsletter

  In the previous issue of Solutions, we discussed recent changes to the estate and gift tax exemption as a result of the Tax Cuts and Jobs Act (TCJA). These changes created a limited window of opportunity to take advantage of unprecedented estate and gift tax exemptions, potentially saving taxpayers and their families millions in […]

  The Tax Cuts and Jobs Act (TCJA) provides for a new 20% tax deduction on “qualified business income” (QBI). Under Internal Revenue Code (IRC) Section 199A, income from rental real estate businesses qualifies as QBI if the business and related rental income qualifies as trade or business income under IRC Section 162. It is […]

  As an administrator, you do your best to keep your employee benefit plan in compliance, but is your plan ready for an independent audit by an accounting firm? Due to the complexity of the Department of Labor regulations governing employee benefit plans, and its many requirements, a plan audit can be overwhelming. Whether you […]

  The IRS, responding to suggestions from the retirement plan industry, has expanded its self-correction program (SCP) for errors discovered in the operation of qualified retirement plans. The IRS made changes to the Employee Plans Compliance Resolution System (EPCRS), effective April 19, 2019. New Plan Amendment Options Under prior rules, plan failures generally could not […]

We are pleased to announce the promotions of Therese Cheevers to Employee Benefits Services Partner and Ed Fazio to Partner in the Tax & Accounting Services department. Therese joined Windes in 2007 and has served the retirement plan needs of small- to middle-market corporations and unincorporated entities since 1984. Her practice focus includes pension and […]