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For participants in the Health Savings Account (HSA), you can find new instructions for IRS Form 8889 used to report contributions and distributions to the HSA on the 2017 personal tax returns.
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Categories: Benefits in General, Compliance | Tags: IRS , HSA , Health Savings Account , Form 8889 , Pub. 969
EBRI has released the results of a 2017 survey on worker opinion on health care in the U.S.
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Categories: Benefits in General, Health Care in General | Tags: EBRI , FSA , HRA , HSA , Health

Income Tax Season is Upon Us

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January 29, 2018 marked the start of tax filing season. People have until Tuesday, April 17, 2018, to file their 2017 returns and pay any taxes due. The filing tax deadline is later this year due to several factors.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: IRS , 1095-A , 1095-B , 1095-C , 1099-SA , 5498-SA , HSA , Dependent Care FSA , Form 2441 , Form 8889 , ACA , group health insurance , HRA , PEB , COBRA Beneficiary
Taxpayers interested in filing itemized deductions for medical expenses will find the IRS Pub. 502 a useful resource when preparing their federal income tax returns.
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Categories: Benefits in General, Compliance | Tags: IRS , Pub 502 , Medical Expense , Itemized Deduction , FSA , HRA , HSA , 7.5%
The IRS has released IRS Publication 503 and Form 2441 (Child and Dependent Care Expenses) and the accompanying Form 2441 Instructions for the 2017 tax year.
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Categories: Benefits in General, Compliance | Tags: Pub 503 , IRS , Form 2441 , Dependent Care , Child Expense , DCFSA , Dependent Care Tax Credit
In a new recent opinion, a federal court decided to vacate the EEOC's final wellness incentive regulations beginning on January 1, 2019.
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Categories: Benefits in General, Compliance | Tags: wellness , EEOC , regulations , incentives
The Department of Labor (DOL) recently published the Final Rule regarding the DOL Penalties Inflation Adjustment Act Annual Adjustments for 2018 setting forth the inflation-adjusted civil monetary penalties for violations pertaining to health and welfare benefit plans and pension and retirement plans. The 2018 adjustments are effective for penalties assessed after January 2, 2018, with respect to violations occurring after November 2, 2015.
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Categories: Benefits in General, Compliance | Tags: DOL , 2018 , Penalties , Penalty , Violation , Inflation

GOP Passes Tax Reform

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After months of debate on tax reform, today the House by a by a vote of 224-201, passed the “Tax Cuts and Jobs Act” (H.R. 1) to overhaul the tax code. The bill now heads to the White House where President Trump says that he will sign it into law. We anticipate that the bill will be signed before Christmas.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: Tax Reform , GOP , Depedent Care Flexible Spending Accounts , Transportation Plans , Bicycling Benefit , Transit , Parking , Education Assistance , Adoption Assistance , IRS , Individual Mandate , ACA , Cadillac Tax
The IRS issued Notice 2018-03, announcing the optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: IRS , Medical , Mileage , Charitable , Business , 2018 Limits
The Employers Council on Flexible Compensation, the Society for Human Resource Management, the National Association of Health Underwriters, and 33 other prominent employer advocacy trade groups signed onto a letter earlier this week urging that Congress grant relief for employers from the Cadillac Tax, the Health Insurance Tax and the medical device tax.
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Categories: Benefits in General, Health Care Reform, Health Care in General | Tags: Cadillac tax , health insurance , ECFC , SHRM , NAHU , Employers Council on Flexible Compensation , Society for Human Resource Management , National Association of Health Underwriters , letter , Congress , tax reform , benefits
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