Amanda Dernovshek is a member of the Business and Tax group. Her practice focuses on issues related to federal taxation, employee benefits, and business planning. Amanda also assists the Firm’s mergers and acquisitions team.
Amanda works with clients to answer questions related to complicated employee benefits issues and general business issues. She aims to assist clients by providing understandable and practical advice. Specifically, the types of issues Amanda handles include:
- Drafting required documentation for plans covered by ERISA including Plan documents, Summary Plan Descriptions, and Summaries of Material Modification
- Guiding clients through discussions related to establishing, amending, and terminating employee benefit plans, including cafeteria plans, 401(k) plans, defined benefit plans, and deferred compensation plans
- Assisting clients with compliance under ERISA, COBRA, health care reform, and other relevant laws
- Providing guidance for benefit plan administration including review of QDROs, analysis of benefit coverage issues, and advice concerning nondiscrimination testing
- Facilitating employee benefit plan corrections to reduce penalties through formal governmental programs
- Corresponding with the IRS and DOL on behalf of clients related to audits of employee benefit plans
- Assisting a variety of businesses in analyzing the considerations involved in entity selection and formation
- Facilitating discussions with shareholders of corporations and members of LLCs on a variety of issues and drafting shareholder and operating agreements to meet client needs
- Advising clients on the process and assisting them with submission of IRS applications for tax-exempt status under Internal Revenue Code Section 501(c)
- Performing due diligence during mergers and acquisition transactions for a variety of businesses of all sizes
Prior to joining Foster Swift, Amanda served as a judicial extern for Sixth Circuit Court of Appeals under the Honorable David McKeague.
Amanda earned her undergraduate and master’s degree at East Tennessee State University in her home state of Tennessee. She then moved to Michigan and earned her juris doctorate at Michigan State University College of Law, where she served as the Editor-in-Chief of the International Law Review.
Memberships & Affiliations
- State Bar of Michigan
- Girls on the Run Mid Michigan, Board Trustee
- Advising an international company on its executive compensation plan, which was designed to incentivize diversity and inclusion among the company employees and management
- Conducting extensive diligence that involved reviewing hundreds of contracts to determine the implications of a stock transaction between two hospitals in which change in control was an important issue
- Assisting a client with all materials needed to file a voluntary correction program application to obtain approval of the client’s correction of a failure that involved the omission of required form filings for over a decade
- Advising clients on the correction options and processes upon discovery of administrative errors in 401(k) Plan administration
- Assisting clients in reconciling stock histories and certificates in connection with ESOP repurchases and releveraging
- Counseling a family business on its business succession planning issues, including discussions related to selling and gifting portions of the business to the owners' children
Recent Blog Posts
BizTech Law Blog
- New Safe Harbor Announced for Electronic Disclosures Required by ERISA
- A Guide to the Employee Retention Tax Credit: An Alternative to the PPP
- Latest Trend in Executive Compensation: To Include Diversity & Inclusion or Not?
- Cyber Insurance: Is it right for you?
- Three Steps to Forming an LLC
- Children's Online Privacy Protection Act: Are You Compliant?
- Michigan Marijuana Retailers: Data Privacy and Cybersecurity Risks
- SEC-Regulated Companies Should Address Cybersecurity to Avoid Enforcement Risks
Tax Law Blog
- Responding to a Michigan Department of Treasury Notice Regarding a Tax Liability or Refund Adjustment
Your Family Law Advocate Blog
- Employee Benefit Options in a Time of Crisis, Foster Swift Legal Update E-blast, April 1, 2020
- IRS Regulations Finalize Rules Relating to Hardship Distributions, Employee Benefits Law Update E-blast, December 3, 2019
- New Health Reimbursement Account Options Available for Employers Beginning January 1, 2020, Employee Benefits Law Update E-blast, December 2, 2019
- IRS Announces 2020 Cost-of-Living Adjustments For Retirement Plans and for Health and Welfare Benefit Plans, Foster Swift Business & Tax Law News, November 22, 2019
News & Events
- Tax Through an Agribusiness Lens – Part 1, Michigan Association of CPAs (MICPA), June 30, 2020
- Tax Implications of Divorce After Tax Reform: Alimony, Property Divisions, Divorce Modifications, Child Credits, Strafford, August 22, 2019
- Foster Swift Welcomes Five New Attorneys, November 16, 2018
Michigan State University College of Law, J.D., 2018
East Tennessee State University, M.B.A., Business Administration, 2015
East Tennessee State University, B.S., Business Administration in Management, 2013
Bar and Court Admissions