Contact Us

Blog

New Tax Law Includes Changes for Employee Benefits

By Jessica Rowland on Jan 15, 2018 9:52:02 AM

HIGHLIGHTS

  • Employers can no longer take a tax deduction for qualified transportation fringe benefits.
  • Except for bicycle commuting reimbursements, qualified transportation benefits are still nontaxable to employees.
  • Employers that provide paid family and medical leave may qualify for a temporary tax credit.

Click here to view the full article

Continue Reading
1 min read

Furnishing Deadline Delayed for 2017 ACA Reporting

By Jessica Rowland on Dec 28, 2017 10:43:13 AM

On Dec. 22, 2017, the Internal Revenue Service issued Notice 2018-06 to:

Continue Reading
1 min read

Individual Mandate Penalty Will Be Eliminated in 2019

By Jessica Rowland on Dec 22, 2017 11:49:20 AM

On Dec. 20, 2017, the tax reform bill, called the Tax Cuts and Jobs Act, passed both the U.S. Senate and the U.S. House of Representatives. The bill is expected to be signed into law by President Donald Trump shortly.

Continue Reading

IRS Issues Pay or Play Enforcement Guidance

By Jessica Rowland on Nov 10, 2017 9:26:32 AM

HIGHLIGHTS

  • The IRS issued guidance on the employer shared responsibility enforcement process.
  • The IRS plans to issue Letter 226J to propose and assess employer shared responsibility penalties.
  • No penalties have been assessed under the employer shared responsibility rules at this time.

Click here to view the full article

Continue Reading

Health FSA Limit Will Increase For 2018

By Jessica Rowland on Nov 2, 2017 2:10:33 PM

HIGHLIGHTS

  • Employees’ salary reduction contributions to health FSAs are subject to a maximum dollar limit.
  • The initial dollar limit was $2,500. For 2017, the dollar limit was increased to $2,600.
  • For the 2018 plan year, the health FSA dollar limit will be further increased to $2,650.

Click here to view the full article.

Continue Reading

IRS Announces Employee Benefit Plan Limits for 2018

By Jessica Rowland on Nov 1, 2017 3:48:58 PM

HIGHLIGHTS

  • The IRS recently announced cost-of-living adjustments to the annual dollar limits for employee benefit plans.
  • Many of these limits will increase for 2018.
  • In 2018, employees may contribute more money to their HSAs, health FSAs and 401(k) accounts.

Click here to view the full article

Continue Reading

2018 Compliance Checklist

By Jessica Rowland on Oct 18, 2017 2:33:37 PM

The ACA has made a number of significant changes to group health plans since the law was enacted in 2010. Certain changes to some ACA requirements take effect in 2018 for employers sponsoring group health plans, such as increased dollar limits. To prepare for 2018, employers should review upcoming requirements and develop a compliance strategy.

Continue Reading
1 min read

New Regulations Expand Exemptions From The Contraceptive Mandate

By Jessica Rowland on Oct 10, 2017 11:27:36 AM

On Oct. 6, 2017, the Departments of Labor, Health and Human Services and the Treasury (Departments) issued two interim final rules expanding certain exemptions from the Affordable Care Act’s (ACA) contraceptive coverage mandate.

Continue Reading
1 min read

Republicans Release Tax Reform Plan

By Jessica Rowland on Oct 2, 2017 9:57:08 AM

On Sept. 27, 2017, the Trump administration—in conjunction with Republican Congressional leadership—released a tax reform plan designed to make significant changes to the federal tax code. This plan is intended to serve as a template for the Congressional tax writing committees that will develop tax reform legislation.

Continue Reading
1 min read

IRS confirms ACA Mandate Penalties Still Effective

By Jessica Rowland on Aug 14, 2017 1:34:44 PM

The IRS Office of Chief Counsel has recently issued several information letters regarding the Affordable Care Act’s individual and employer mandate penalties. These letters clarify that:

Continue Reading

Featured