Molly Ramsden

Molly Ramsden helps employers of all sizes and industries maneuver the regulatory landscape of ERISA, the Internal Revenue Code, and various federal, state, and municipal employment laws. She counsels companies and individuals on all aspects of employee benefits, compensation, and employment issues, including tax-qualified retirement plans, health and welfare plans, executive employment and consulting agreements, and mergers and acquisitions.

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IRS Provides COVID-19 Emergency Relief for Individuals Planning to Claim the Foreign Earned Income Exclusion

Prompted by the COVID-19 global health emergency (the “COVID-19 Emergency”), Treasury and the IRS recently issued Rev. Proc. 2020-27 to provide relief for U.S. citizens and residents planning to take advantage of the foreign earned income exclusion under section 911 of the Internal Revenue Code whose expatriate assignments were interrupted due to the pandemic. The … Continue Reading

Notice 2019-63 Delivers Relief for Providers of Minimum Essential Coverage

By Molly Ramsden, Michael M. Lloyd and S. Michael Chittenden on December 6, 2019 Posted in Affordable Care Act, Employee Benefits, Information Reporting, IRS, Legislation, Tax Reform

Holding true to its holiday tradition, the IRS yet again decided to extend the deadline by which providers of minimum essential coverage (including certain applicable large employers (“ALEs”)) must furnish information statements to individuals regarding their 2019 insurance coverage. However, due to the effective elimination of the ACA’s individual mandate penalty through the Tax Cuts … Continue Reading

D.C. Starts Collecting Taxes to Fund New Paid-Leave Program

By Molly Ramsden and S. Michael Chittenden on July 1, 2019 Posted in Employee Benefits, Employment Taxes

In 2017, the District of Columbia passed the Universal Paid Leave Amendment Act of 2016 (the “Act”), which called for the creation of a paid-leave program for private sector employees who work in D.C. Earlier this year, the D.C. Office of Paid Family Leave adopted final regulations to implement this new paid-leave program. One of … Continue Reading

IRS Issues PLR on Form 1099-C Reporting

By Molly Ramsden and Michael M. Lloyd on April 30, 2019 Posted in Information Reporting, IRS

On April 26, 2019, the IRS released PLR 201917002 concluding that an entity’s extension of credit, incidental to its sale of nonfinancial goods or performance of nonfinancial services, would not create an obligation under section 6050P to file a Form 1099-C if the entity subsequently discharged the indebtedness associated with the extension of credit.… Continue Reading

IRS Announces Results of Employment Tax Campaign

By Molly Ramsden and Michael M. Lloyd on April 17, 2019 Posted in Court Cases, Employment Taxes, IRS

On April 11, 2019, the IRS announced the results of a national two-week education and enforcement campaign to combat employment tax crimes. Payroll taxes account for approximately 70% of all revenue collected by the U.S. Treasury. Given the significance of payroll tax collections to the federal government, IRS revenue officers across the country visited nearly … Continue Reading

Justice Department Continues Aggressive Enforcement for Trust Fund Tax Failures

By Molly Ramsden and Michael M. Lloyd on March 27, 2019 Posted in Court Cases, IRS

The Justice Department has again demonstrated its willingness to prosecute corporate executives for failing to remit employment taxes. On March 22, 2019, the Department of Justice issued a press release to announce that the U.S. District Court for the Eastern District of North Carolina sentenced a North Carolina man to 30 months in prison, restitution … Continue Reading