Question: Can all church employees qualify for housing allowance? Answer: No. Section 107 of the Internal Revenue Code allows only a “minister of the gospel” to have a housing allowance. Thus, only taxpayers who are serving as clergy under IRS rules for tax purposes...
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Managing Unexpected Time Off Requests
Vicki sighs heavily, feeling as though she hasn’t been able to catch her breath throughout the entire lunch rush. It’s been a hectic day at her deli, and though she began it along with the opening crew, two of her employees scheduled for the evening shift have called...
IRS issues important interim guidance on employer matching contributions made to retirement plans related to employee student loan payments
WASHINGTON — The Internal Revenue Service issued interim guidance for sponsors of 401(k) and similar retirement plans that provide, or wish to provide, matching contributions based on eligible student loan payments made by their participating employees. Notice...