2025 Tax Facts on Insurance & Employee Benefits (Volumes 1 & 2)

Tax Facts on Insurance & Employee Benefits is your complete source for tax information that relates to these two critical business and financial planning areas. With thousands of easy-to-use Q&As that cover the most critical topics, Tax Facts helps advisers of all kinds understand the tax implications of the recommendations that they make for their clients. Insurance and employee benefits are complicated tools that each carry their own set of tax issues, and advisers cannot possibly make the thorough and complete assessments that clients depend on without understanding this ever-changing area.

This two-volume edition features:

• Thousands easy-to-read Q&As that comprehensively cover all aspects of insurance and employee benefits tax issues
• Practical advice for any professional, including in-house HR professionals, insurance producers and third-party advisers
• Detailed explanations of the various types of insurance products and employee benefits that are most commonly used by individuals and businesses
• Practice Points give concise advice on how to handle real-world issues
• The right tax information to help avoid problems before they become costly mistakes, as well as correct problems when they do occur

New in the 2025 Edition:

• SECURE Act 2.0's new statutes of limitations for the penalties that apply to excess IRA contributions and missed RMDs, including the Tax Court's 2024 ruling that the new statute of limitations was not retroactive
• Discussion of final regulations, effective prospectively in 2025, requiring designated beneficiaries to take annual RMDs throughout the ten-year distribution period if the original account owner died after the required beginning date
• Analysis of how, under the SECURE Act 2.0, employers can allow employees participating in SIMPLE or SEP plans to have their salary reduction contributions deposited into Roth accounts
• Discussion of how SECURE Act 2.0 relaxed the rules so that employers can terminate a SIMPLE IRA mid-year and replace it with a safe harbor 401(k)
• Update on the special rules that change the family attribution rules for nondiscrimination testing under the SECURE Act 2.0
• Coverage of SECURE Act 2.0's amended the rules governing loans taken from retirement plans due to a federal disaster
• A new section on the Department of Labor's definition of “investment advice fiduciary” and what requirements must be satisfied for an investment advice fiduciary to qualify and the courts seeking to block the application of the new rule
• Update on special required minimum distribution rules did the IRS 2024 SECURE Act RMD regulations created with respect to spousal elections after the employee's death

Key Topics covered:

• Annuities and life insurance products
• ERISA regulations for employee benefit plans
• Health and Long-term care insurance
• Disclosure and record-keeping requirements
• Qualified and nonqualified compensation plans
• Defined contribution and defined benefit deferred compensation plans
• Funded and unfunded plans
• PBGC requirements
• Estate, gift tax consequences