Tax Relief Extension Includes Provisions on Multiemployer Pension Plans, Transportation Benefits and PEOs | Practical Law
The Tax Increase Prevention Act of 2014 (TIPA) extends for one year funding relief for multiemployer pension plans and tax benefits for employer-provided transportation benefits that expired in 2014. Among other benefits-related provisions, TIPA clarifies that health plans can provide for "qualified reservist distributions" under the Heroes Earnings Assistance and Relief Tax Act of 2008. TIPA also establishes employment tax rules for professional employer organizations (PEOs), as well as rules for becoming a certified PEO and provisions that must be included in a PEO services agreement.