IRS Ends Use of Closing Agreements for Late Corrections of Missed FICA Taxes on Deferred Compensation.

Employers can no longer correct mistakes administering the “special timing rule” of IRS 3132(v). Read about what this means for your business’s deferred compensation plans here.

 

Social Security Taxes and Deferred Compensation.

Could you be liable to participants for incorrect FICA withholding on deferred compensation? One court says yes. Read more here.