The Pension Benefit Guaranty Corporation has opted to waive penalties and extend deadlines to plan administrators and sponsors working in areas of New Jersey affected by Hurricane Sandy.

For organizations with employer-owned life insurance, which is a policy owned by an entity that acts as the beneficiary, there is the potential for major tax savings. But employers must be sure they are following all of the regulations in order to see that tax advantage.

Program would not let bad actors evade punishmentrather it would provide a streamlined process with reduced penalties.

After the release of data suggesting Mitt Romney might have an IRA worth $101 million, the Treasury Department and the IRS say they will investigate potential abuses.