by Ed Fensholt | October 5, 2020 | Compliance Services, Reporting and Disclosure, Tax Issues, The Coronavirus, Uncategorized
The IRS has again (as it has in past years) extended the deadline to furnish Forms 1095-C to Affordable Care Act (ACA) full-time employees. The Service has moved the deadline to furnish the forms for 2020 from Jan. 31 to March 2, 2021. The deadlines for filing those...
by Ethan McWilliams | April 29, 2020 | Form 5500s, Health Savings Accounts, Tax Issues, The Coronavirus
Along with the immediate and unique challenges that the COVID-19 pandemic has presented to employers, these same employers – in their capacity as plan sponsors – are still tasked with their routine benefits plan reporting responsibilities. Individual taxpayers, too,...
by Jay Kirschbaum | August 5, 2019 | Employer Mandate, Health Reform / ACA, Tax Issues
Recently, the ERISA Industry Committee (ERIC), an association advocating on behalf of large employers that sponsor benefits plans, sent a letter to the IRS. The letter, which addressed the penalty assessment process that has developed under the Affordable Care Act’s...
by Jay Kirschbaum | April 30, 2019 | Tax Issues
The IRS recently issued guidance regarding the tax treatment of medical premiums paid by or on behalf of a 2% shareholder in an S corporation, and particularly, whether medical premiums paid by an S-corp could be deducted by 2% shareholders who do not own the S-corp...
by Mark Holloway | February 22, 2019 | State and Local Issues, Tax Issues, Uncategorized
The commonwealth of Massachusetts announced the employer and employee contribution rates that will apply beginning on July 1, 2019, to finance the state’s paid family leave law. The law requires up to 12 weeks of paid family leave, up to 20 weeks of paid medical leave...
by Lisa L. Carlson | January 25, 2019 | FMLA, Tax Issues
The 2017 overhaul of federal tax rules added a new tax credit for employers beginning in 2018 that may be taken by an employer when they offer certain family and medical leave benefits (see our prior Alert). The IRS has now issued a tax form that employers can use to...
