Archive by month: 2018-9Return
Hurricane Florence victims in part of North Carolina and elsewhere have until January 31, 2019, to file certain individual and business tax returns and make certain tax payments. The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record in the disaster area. Taxpayers do not need to contact the IRS to get this relief.
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Categories: Benefits in General, Compliance | Tags: Hurricane Florence , Tax Relief , IRS , North Carolina , South Carolina
With open enrollment fast approaching for many employers, it is a good time to review what materials are necessary for open enrollment and what employer notices are required to distribute and when. Some employer notices are provided when participants first become covered under a health and welfare plan and others have an annual distribution requirement.
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Categories: Benefits in General, Compliance | Tags: Employer Notice , SPD , SMM , SAR , Medicare Part D , Notice of Creditable Coverage , COBRA , HIPAA , CHIP , Wellness , Grandfathered Status , WHCRA , Michelle's Law , ADA
Most notably a projected increase to the 2019 Health Care FSA limit of $50 or an annual maximum is $2,700 per plan year.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: Health Care FSA , Flexible Spending Account , Projected Health Care FSA Limit , $2700 per plan year , Affordable Care Act , Tax Reform , C-CPI-U , 2019
The updates for QSEHRA and Transportation benefits for 2019 are as follows:
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Categories: Benefits in General, Compliance | Tags: QSEHRA , Transit , Parking , 2019 Limits , Qualified Small Employer HRA , Transportation Plans
For purposes of the cafeteria plan nondiscrimination testing, the employer will use gross annual compensation which includes all taxable wages the employee receives from the employer, adds back any pre‐tax benefits the employee elects, as well as adds any taxable benefits the employee receives.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: Cafeteria Plan , Nondiscrimination Testing , HCFSA , DCFSA , Flexible Spending Account , FSA , IRS , Annual compensation , Gross Compensation , W-2