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The IRS announced late last year in Notice 2018-06 that it had extended the 2018 deadline for insurers, self-insured employers, other coverage providers and applicable large employers to provide Forms 1095-B and 1095-C (the “Forms”) to individuals who received health insurance coverage in 2017 from January 31, 2018 to March 2, 2018. That deadline is quickly approaching.
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Categories: Health Care Reform, Compliance | Tags: ACA , Employer Reporting , March 2nd , IRS , Q&A
The IRS has provided updates to the Employer Shared Responsibility Q&A guidance on its website.
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Categories: Health Care Reform, Compliance | Tags: ACA , Employer Shared Responsibility , Penalty , 4980(h) , IRS , Q&A , Affordability
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

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
The IRS recently announced in Notice 2018-06 that it has extended the 2018 deadline for insurers, self-insured employers, other coverage providers and applicable large employers to provide Forms 1095-B and 1095-C to individuals who received health insurance coverage in 2017. These Forms, which are required by the Affordable Care Act (“ACA”), must now be provided to individuals by March 2, 2018, instead of January 31, 2018. Notice 2018-06 also provides relief from penalty payments under the A...
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Categories: Health Care Reform, Compliance | Tags: Affordable Care Act , ACA , 1095-B , 1095-C , health insurance , IRS , Notice 2018-06 , relief , penalty , good faith

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 IRS has released two new forms that will be included with the new Letter 226J. This latest release by the IRS is in preparation of the Code § 4980H employer shared responsibility penalties against applicable large employers (ALEs) for 2015.
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Categories: Health Care Reform, Compliance | Tags: IRS , Form 14764 , Form 14765 , ACA , ALE , Letter 226J , Penalty , Employer Shared Responsibility
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