Ms. Rome is a shareholder in the firm's tax and employee benefits groups, whose practice focuses on employee benefits and exempt organizations.
In her practice with the employee benefits group, Ms. Rome provides consultation and advice with respect to tax-qualified retirement plans, nonqualified deferred compensation plans, health and welfare plans, and fringe benefits. Her experience includes assisting clients with compliance with ERISA and the Internal Revenue Code, reporting and disclosure, government audits, and the use of government-sponsored compliance and correction programs.
Ms. Rome's experience in employee benefits includes:
•Designing and drafting individualized qualified retirement and 403(b) plans and consulting and advising on design, implementation, and amendment of prototype qualified retirement plans; Preparing and submitting qualified retirement plans to the IRS for determination letters; Providing consultation and advice regarding various health and welfare benefit plans and matters, including insured and self-funded health plans, cafeteria plans and their underlying benefits, retiree HRAs, COBRA and HIPAA compliance, and health care reform; Providing consultation and advice regarding fringe benefits and plans, including structure and tax consequences of employee discounts, parking, and meals and lodging; Designing and drafting nonqualified deferred compensation plans, equity and non-equity incentive plans, and executive employment agreements and advise on Code Sections 409A, 162(m), 280G, 457(b), and 457(f) issues; Drafting and reviewing SPDs, SMMs, plan notices, plan policies, and other plan-related documents; Reviewing plan operational or administrative errors and assisting in their correction, including through the Employee Plans Compliance Resolution System and the Voluntary Fiduciary Correction Program; Representing clients before governmental audits in connection with audits; Identifying, and providing consultation and advice regarding, control, affiliated service, and management groups; Providing advice on payroll tax issues, reporting requirements, compliance with ERISA fiduciary duties, employment classification, and other technical requirements of ERISA and the Code
In the area of exempt organizations, Ms. Rome provides assistance to nonprofit organizations, including charitable and educational organizations, healthcare entities, trade associations, veterans organizations, private foundations, and other tax-exempt entities. In this capacity, she advises exempt organizations on all aspects of organization, operation, and tax compliance.
Ms. Rome's experience with exempt organizations includes:
•Providing advice and assistance in forming nonprofit organizations, including drafting and amending articles, bylaws, and policies; Preparing and submitting tax exemption applications and providing representation before the IRS in connection with the agency's review of applications; Providing consultation and advice on day-to-day compliance with tax laws, including reporting obligations, restrictions on lobbying and political activity, and disclosure obligations; Providing advice regarding structuring and consequences of affiliations with other nonprofit and for-profit entities, including subsidiaries, joint ventures, and fundraising, fiscal sponsorship, and other agreements; Providing advice on structuring fundraising activities, substantiation requirements, restricted and conditional gift issues, and the deductibility of charitable contributions, including drafting and reviewing gift acceptance and endowment policies; Providing advice and assistance with managing business activities and unrelated business income tax liability; Providing consultation and advice regarding governance matters, including review and amendment of articles and bylaws and drafting of conflict of interest policies; Providing advice and assistance to private foundations on compliance with private foundation excise tax laws and changes to their tax classification, including conversion to public charity; Managing legal audit to evaluate an organization's tax compliance and providing advice on options and strategies for improvement or correction; Providing advice concerning Louisiana state tax exemption and other state requirements applicable to nonprofit organizations
Ms. Rome is a Board-Certified Tax Specialist, as certified by the Louisiana Board of Legal Specialization.
•Legislative Update, Association of Employee Benefit Planners of New Orleans Meeting, annually, from 2007 to date, with Randye Snyder
• Louisiana Tax Incentive Programs, Louisiana CPA Society CPE, annually, from 2007 to date, with Robert Angelico and James Exnicios
• Louisiana Ad Valorem Tax, Louisiana CPA Society CPE, annually, from 2007 to date, with Robert Angelico and James Exnicios
• Louisiana Sales and Use Tax, Louisiana CPA Society CPE, annually from 2007-2012, with Robert Angelico and James Exnicios
• Pitfalls, Incentives, and the Future: An Overview of Various Federal Tax Issues, Whitney National Bank luncheon, May 2007, with James Exnicios
• Gulf Opportunity Zone Act of 2005, New Orleans Commercial Real Estate Women Meeting, May 2007
• Hurricane Tax Relief, A Flood of Tax Relief - Post Katrina Tax Tips, Liskow & Lewis Women's Luncheon, March 2006, with Randye Snyder
Retirement Plans Compliance Alert: Failure to Withhold Plan Loan Repayments, Liskow & Lewis E-Newsletter, May 7, 2012
•Plan Participant Disclosure Rules - Compliance Alert
•Pension Protection Act: Looming Deadline and Key Changes for Defined Contribution Plans
• The Louisiana Headquarters and Growth Act, an Open Invitation to Business: Locate Here, Lagniappe, Vol. 31, No. 7, Jan./Feb. 2006, with Robert Angelico