Evan Walters
Subscribe to Evan Walters's PostsEvan Walters focuses his practice on US and international taxation. He has experience across a wide range of issues involving corporate and partnership taxation. Read Evan Walters' full bio.
IRS Releases Guidance on Matching Contributions for Student Loan Payments
By Kevin Spencer, Evan Walters and Sama Kaseer on Oct 1, 2024
Posted In Employee Benefits, Retirement Plans
Last month, the Internal Revenue Service (IRS) released long-awaited guidance on matching contributions for qualified student loan payments under § 401(k) of the Internal Revenue Code and other similar retirement plans. This guidance aims to help plan sponsors with setting up these programs for plan years beginning after December 31, 2024, until proposed regulations are...
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IRS Announces Second Employee Retention Credit Voluntary Disclosure Program
By Kevin Spencer, Evan Walters and Sama Kaseer on Sep 10, 2024
Posted In Employee Benefits, Employment
On August 15, 2024, the Internal Revenue Service (IRS) released Announcement 2024-30, which provides a second Employee Retention Credit Voluntary Disclosure Program for employers to resolve erroneous claims. This program aims to help employers avoid civil litigation, penalties, and interest by settling their civil tax liabilities. It will run through November 22, 2024. Read more...
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New IRS Revenue Procedure Affects Defined Benefit Pension Plan Sponsors
By Kevin Spencer, Evan Walters and Sama Kaseer on Aug 29, 2024
Posted In Employee Benefits, Retirement Plans
The Internal Revenue Service (IRS) recently released a new revenue procedure that outlines how sponsors of defined benefit pension plans should request approval to use plan-specific substitute mortality tables for plan years beginning on or after January 1, 2025. The IRS also issued new proposed regulations that would increase penalties for employers that erroneously claimed...
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IRS Reasserts That Forgivable PPP Expenses Are Not Deductible, but Is Legislative Relief on the Way?
By Andrew Liazos, William R. Pomierski and Evan Walters on Dec 18, 2020
Posted In Employment
Loans under the Payroll Protection Program (PPP) are eligible for forgiveness depending upon whether and when the loan proceeds are used for qualified business expenses. Congress provided that the forgiveness of PPP loans are not includible in income. However, the Internal Revenue Service (IRS) currently takes the position that expenses funded by PPP loans are...
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