Kevin Spencer
Subscribe to Kevin Spencer's PostsKevin Spencer focuses his practice on tax controversy issues. Kevin represents clients in complicated tax disputes in court and before the Internal Revenue Service (IRS) at the IRS Appeals and Examination divisions. In addition to his tax controversy practice, Kevin has broad experience advising clients on various tax issues, including tax accounting, employment and reasonable compensation, civil and criminal tax penalties, IRS procedures, reportable transactions and tax shelters, renewable energy, state and local tax, and private client matters. After earning his Master of Tax degree, Kevin had the privilege to clerk for the Honorable Robert P. Ruwe on the US Tax Court. Read Kevin Spencer's full bio.
IRS Releases Regulatory Notices Related to Health Plan Coverage of Contraceptives
By Kevin Spencer, Evan Walters and Sama Kaseer on Nov 12, 2024
Posted In Employee Benefits, Health and Welfare Plans
The Internal Revenue Service (IRS) recently released Internal Revenue Bulletin 2024-44. The Bulletin includes Notice 2024-71, which provides a safe harbor under Internal Revenue Code § 213(d), treating amounts paid for condoms as medical care expenses eligible for reimbursement under various health plans. It also includes Notice 2024-75, which expands the list of preventive care...
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IRS Issues New Long-Term, Part-Time Employee Guidance Under the SECURE 2.0 Act for 403(b) Plans
By Kevin Spencer, Evan Walters and Sama Kaseer on Nov 7, 2024
Posted In Employee Benefits, Retirement Plans
On October 3, 2024, the Internal Revenue Service (IRS) released Notice 2024-73, which provides guidance on the application of nondiscrimination rules under Internal Revenue Code § 403(b) for long-term, part-time employees. The notice also announces that the final regulations, which the IRS will issue for 401(k) plans on long-term, part-time employees, will apply to plan...
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IRS Introduces Supplemental Claim Process for Employee Retention Tax Credit
By Kevin Spencer, Evan Walters and Sama Kaseer on Oct 17, 2024
Posted In Payroll and Fringe Benefits
The Internal Revenue Service (IRS) introduced a supplemental claim process to assist payroll companies and third-party payers in resolving incorrect claims for the Employee Retention Credit. This process allows third-party payers to correct or withdraw claims for taxpayers who are ineligible for the credit. Learn more about this and other important regulatory developments from the...
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IRS Releases Guidance on Matching Contributions for Student Loan Payments
By Kevin Spencer, Evan Walters and Sama Kaseer on Oct 1, 2024
Posted In Employee Benefits, Retirement Plans
Last month, the Internal Revenue Service (IRS) released long-awaited guidance on matching contributions for qualified student loan payments under § 401(k) of the Internal Revenue Code and other similar retirement plans. This guidance aims to help plan sponsors with setting up these programs for plan years beginning after December 31, 2024, until proposed regulations are...
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IRS Announces Second Employee Retention Credit Voluntary Disclosure Program
By Kevin Spencer, Evan Walters and Sama Kaseer on Sep 10, 2024
Posted In Employee Benefits, Employment
On August 15, 2024, the Internal Revenue Service (IRS) released Announcement 2024-30, which provides a second Employee Retention Credit Voluntary Disclosure Program for employers to resolve erroneous claims. This program aims to help employers avoid civil litigation, penalties, and interest by settling their civil tax liabilities. It will run through November 22, 2024. Read more...
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New IRS Revenue Procedure Affects Defined Benefit Pension Plan Sponsors
By Kevin Spencer, Evan Walters and Sama Kaseer on Aug 29, 2024
Posted In Employee Benefits, Retirement Plans
The Internal Revenue Service (IRS) recently released a new revenue procedure that outlines how sponsors of defined benefit pension plans should request approval to use plan-specific substitute mortality tables for plan years beginning on or after January 1, 2025. The IRS also issued new proposed regulations that would increase penalties for employers that erroneously claimed...
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Uncle Sam Is Buying Your Next Business Meal – at Least Half of It!
By Kevin Spencer on Oct 11, 2018
Posted In Employee Benefits, Executive Compensation
Tax reform made many structural changes to our tax system. Changes to Code Section 274, however, sent shudders through corporate America. As amended, Code Section 274 eliminated the 50 percent deduction for “entertainment” expenses that are related to business activities. Sadly, gone are the days of companies deducting the cost of box tickets to games...
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IRS Issues Revised Requirements for Employers to Claim FICA Tax Refunds
By Kevin Spencer and Ruth Wimer on Apr 13, 2017
Posted In Benefit Controversies, Employee Benefits, Employment
On March 20, 2017, the Internal Revenue Service (IRS) issued Revenue Procedure 2017-28, which provides guidance to employers on obtaining employee consents used to support a claim for credit or refund of overpaid taxes under the Federal Insurance Contributions Act (FICA) and the Railroad Retirement Tax Act (RRTA). This OTS describes the new procedures and...
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