The COVID-19 pandemic has changed the work environment in many ways, including a significant impact on employer-sponsored health benefits. The past year has resulted in changes to how frequently individuals visit the doctor (or do not visit the doctor), purchase eligible medical expenses, and need dependent care. In response to the pandemic, the IRS, Congress,
ACA Reporting Relief – Written Statement to Covered Individuals Now Due March 2, 2018; Good Faith Penalty Relief Extended
This post was authored by Erin Kunze and Heather DeBlanc.
1. Written Statement to Covered Individuals Now Due March 2, 2018 for the 2017 Calendar Year Reporting Period
The Internal Revenue Service (IRS) has issued an automatic, 30-day extension for applicable large employers to furnish IRS Forms 1095-B and 1095-C to covered individuals. For
Righting Wrongs Before It Costs Serious Dough – How Affordable Care Act Audits Can Help Employers Avoid Steep Reporting Penalties
At the beginning of each calendar year all employers who are considered “Applicable Large Employers” (“ALE”) under the Affordable Care Act (“ACA”) Employer Mandate Regulations will be required to file with the Internal Revenue Service (“IRS”) annual information returns concerning the health care coverage offered to full-time employees. Employers may be assessed penalties for failures
President Obama Postpones Cadillac Tax and IRS Releases Further Guidance on the Affordable Care Act
This post was authored by Heather DeBlanc and Stephanie Lowe
Two recent developments have surfaced impacting the application of the Affordable Care Act (“ACA”) for employers. The first development is the postponement of the Cadillac Tax until 2020. The second development is the IRS’s recently released Notice 2015-87, which provides guidance and clarification on the
IRS Releases Final Affordable Care Act Information Reporting Forms
This blog was authored by Shardé C. Thomas
The Internal Revenue Service (“IRS”) recently released the final versions of the information reporting forms that Applicable Large Employers (i.e. large employers subject to the employer mandate) and employers sponsoring self-insured plans are required to file annually under the Affordable Care Act (“ACA”). The final forms do
Employer Reporting Requirements – IRS Releases Proposed Regulations
This blog was authored by Heather DeBlanc
On September 9, 2013, the IRS released proposed regulations on the Affordable Care Act (ACA)’s annual information reporting requirements under Internal Revenue Code (IRC) sections 6055 and 6056. Employers and medical benefits providers have been eagerly awaiting these new proposed regulations.
Who is responsible for the reporting?
IRS Issues Guidance on Eligible Employer-Sponsored Health Plans under ACA
This blog post was authored by Heather DeBlanc.
On August 30, 2013, the Internal Revenue Service released final regulations regarding the Affordable Care Act’s (“ACA”) requirement that all individuals maintain minimum essential coverage or pay a penalty, called the “Individual Mandate.” Starting October 1, 2013, individuals will be able to purchase health coverage through
The Cadillac Tax Looms Large For Public Employers
This blog post was authored by Heather DeBlanc
In 2018, health plans too rich in coverage will have to pay a “Cadillac Tax.” Public employers, who have traditionally provided generous health benefits, are starting to consider the impact.
The IRS will impose the excise tax on insurers and plan administrators. Employers anticipate that these costs
Withholding Medicare And Social Security Taxes From Retirees’ Wages
This guest post was authored by Oliver Yee
In today’s challenging economic environment, public agency employers are looking to employ retirees for overflow work, special projects and other extra help assignments. There are, however, important implications that agencies should be aware of when hiring retirees, particularly retirees who are members of the California Public Employees&rsquo
IRS Clarifies Tax Treatment Of Employer-Provided Cell Phones
The IRS has issued a notice clarifying the tax treatment of employer provided cell phones and similar telecommunications equipment for business purposes. The notice provides guidance on two key issues regarding employee cell phone use.
First, if an employer provides an employee with a cell phone for “noncompensatory business reasons,” the IRS will treat the