2023 Tax Facts on Insurance & Employee Benefits (Volumes 1 & 2)

With thousands of easy-to-use Q&As that cover the most critical topics, Tax Facts helps advisers of all kinds understand the tax implications of the recommendations that they make for their clients. Insurance and employee benefits are complicated tools that each carry their own set of tax issues, and advisers cannot possibly make the thorough and complete assessments that clients depend on without understanding this ever-changing area.

This two-volume edition features:

• Thousands easy-to-read Q&As that comprehensively cover all aspects of insurance and employee benefits tax issues
• Practical advice for any professional, including in-house HR professionals, insurance producers and third-party advisers
• Detailed explanations of the various types of insurance products and employee benefits that are most commonly used by individuals and businesses
• Practice Points give concise advice on how to handle real-world issues
• Having the right tax information helps avoid problems before they become costly mistakes, as well as correct problems when they do occur

New in the 2023 Edition:

• Changes based on the Inflation Reduction Act, including how to prepare clients for the $80 billion in IRS funding dollars, the credit for depreciable alternative fuel vehicle refueling property, and the nonbusiness energy property tax credit.
• A new section on remote workforce, discussion of whether employers should permit remote work arrangements, the effect of remote work arrangements on health insurance coverage and the Family and Medical Leave Act, and whether an employer can require an employee to sign a non-compete agreement.
• Discussion of proposed RMD Regulations, including rules on designated beneficiaries, multiple designated beneficiaries and spousal beneficiaries
• An update on the Consolidated Appropriations Act of 2022, which extended the CARES Act so that HDHPs could provide first-dollar telehealth services through December, 2022
• Analysis of the Second Circuit’s decision in United States v. Greebel, where a retirement account did not fall into the exception to the general rule that all property can be accessed as restitution in a criminal case
• Review of IRS guidance to allow employers to rehire certain pension plan participants who retired and began receiving plan benefits
• Discussion of Ninth Circuit and Texas District Court cases that placed limits on FBAR penalties
• Information on the IRS’s proposed rules on multiple employer plan notices
• Review of the latest regulations under the 2019 Tax Certainty and Disaster Relief Act.

Topics Covered:

• Annuities and life insurance products
• ERISA regulations for employee benefit plans
• Health and Long-term care insurance
• Disclosure and record-keeping requirements
• Qualified and nonqualified compensation plans
• Defined contribution and defined benefit deferred compensation plans
• Funded and unfunded plans
• PBGC requirements
• Estate, gift tax consequences
• And More! See the “Table of Contents” section for a full list of topics