News

The IRS’ Lawsuits, Awards, and Settlements Audit Techniques Guide

By EsqSocial Corporation 21/05/21

Some time ago, the IRS issued an Audit Techniques Guide on the taxation of lawsuits, awards, and settlements. As many tax practitioners can attest, there are a multitude of tax issues involving any one of these issues.

IRS Addresses Lingering Employer Questions Regarding COBRA Premium Assistance and Corresponding Tax Credits under the American Rescue Plan Act

By EsqSocial Corporation 21/05/21

The American Rescue Plan Act (ARPA) provides for 100% premium assistance to certain qualified beneficiaries for continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) for periods of coverage beginning on or after April 1, 2021 and ending September 30, 2021.

Indiana Tax Court Upholds Pharmacy Benefit Management Costs of Performance Approach

By EsqSocial Corporation 21/05/21

The Indiana Tax Court held that a “pharmacy benefit management company” sold services as opposed to tangible personal property for tax years 2011 through 2013.

SECURE Act 2.0: What Defined Contribution Plan Sponsors Need to Know

By EsqSocial Corporation 21/05/21

With SECURE Act 1.0 (officially titled “Setting Every Community Up for Retirement Enhancement Act”) still being implemented by many plan sponsors, Congress is now considering a new package of laws designed to help close the nation’s retirement savings gap, referred to as SECURE Act 2.0 (officiall

Oregon OSHA Issues New Guidance for Fully Vaccinated Employees

By EsqSocial Corporation 21/05/21

On May 13, 2021, the Centers for Disease Control and Prevention (“CDC”) issued new recommendations for individuals who are fully vaccinated. Specifically, the CDC stated that fully-vaccinated individuals[1] can resume activities without wearing a mask or physically distancing.

Bankruptcy Court Dismisses NRA’s Ch. 11 Petition

By EsqSocial Corporation 21/05/21

United States Bankruptcy Judge Harlin Hale recently dismissed the National Rifle Association’s Chapter 11 petition as not filed in good faith.  The decision leaves the 150-year-old gun-rights organization susceptible to the New York Attorney General’s suit seeking to dissolve it....

“Zero Trust Architecture” Is Officially Here: NIST Publishes New Cybersecurity Framework

By EsqSocial Corporation 21/05/21

The National Institute of Standards and Technology, commonly referred to as NIST, recently published a new computer framework for users to consider as a cyber-framework security model — the Zero Trust Architecture Model (ZTA).

Sweepstakes for Charity: Try Your Luck at Avoiding Regulators:

By EsqSocial Corporation 21/05/21

Sometimes doing good isn’t easy. Say you’re a company that wants to run a sweepstakes by asking entrants for donations to charity. Sounds simple. Everyone will think you’re an A-1, socially conscious brand that isn’t even looking to make a profit.

Water Under the Bridge: Revised Interagency Flood Insurance Q&As to Replace Decade-Old Q&As

By EsqSocial Corporation 21/05/21

For the first time in nearly a decade, the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Farm Credit Administration, and the National Credit Union Administration (the Agencies) have proposed new, revised, and re

IRS Notice 2021-26 Clarifies Taxation of Dependent Care Assistance Programs:

By EsqSocial Corporation 21/05/21

On May 10, 2021, the IRS issued Notice 2021-26, which provides guidance regarding the taxation of dependent care assistance benefits provided through a Code Section 125 cafeteria plan, available in tax years ending in 2021 and 2022 due to the application of certain temporary pandemic relief provi

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