Insights

On June 17, 2019, the IRS released its third quarter priority guidance plan. As background, the IRS uses the Priority Guidance Plan each year to identify and prioritize the tax issues that will be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance.

Some notable employee-benefits related issues that the IRS is working on include:

• Proposed rules on employee stock ownership plans
• Updated final vesting regulations
• Updated definition of church plan
• Rule that provides limited relief to multiple employer plans where one employer violates qualification requirements
• Updated life expectancy for required minimum distribution purposes
• Guidance on individual coverage HRAs
• Possibly modified regulations on Voluntary Employees’ Beneficiary Association Regulations

While this guidance doesn’t necessitate any action on the part of employers, it does give good insight into the rules the IRS may publish in the next several months.

IRS Third Quarter Priority Guidance Plan »