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October 23, 2017

Health FSA Limit Will Increase for 2018

The ACA imposes a maximum dollar limit on employees' salary reduction contributions to a health FSA. Although the ACA set this limit at $2,500, the limit is indexed for cost-of-living adjustments each year. On Oct. 19, 2017, the IRS announced that, for taxable years beginning in 2018, the dollar limit on employees' salary reduction contributions to a health FSA will increase to $2,650.
August 17, 2017

IRS Confirms ACA Mandate Penalties Still Effective

The Internal Revenue Service (IRS) Office of Chief Counsel has recently issued several information letters regarding the Affordable Care Act’s (ACA) individual and employer mandate penalties.
August 4, 2017

Draft Forms for 2017 ACA Reporting Released

On July 28, 2017, the Internal Revenue Service (IRS) released draft 2017 forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056.
May 16, 2017

ACA Affordability Percentages Decreasing in 2018

On May 5, 2017, the Internal Revenue Service (IRS) issued Revenue Procedure 2017-36 to index the contribution percentages in 2018 for purposes of determining affordability of an employer’s plan under the Affordable Care Act (ACA).
March 22, 2017

Telemedicine—Impact on HSA Eligibility

Telemedicine is becoming a popular method of providing a variety of medical services. Some employers offer a telemedicine benefit that allows employees to interact with health care professionals via phone, video chat, email or text for diagnosis, consultation and treatment.
February 20, 2017

Prepare for Tax Season

Tax season is almost upon us and it is important that you have all the information you need to file your 2016 tax returns. Below is some general information to help you understand the filing process. If you have any specific questions related to your filing situation, it is important to consult with a tax professional.
January 31, 2017

Stay Protected From Phone Tax Scams: 5 Red Flags to Avoid

Tax season is fast-approaching, which means big opportunity for scammers. Are you doing everything you can to educate your employees about these risks?
January 27, 2017

Employee Leave-Sharing and Donation Programs

Employer-sponsored leave-sharing programs enable employees to share their paid leave time with other employees who need additional time off. Employer-sponsored leave-donation programs allow employees to forgo their paid leave time in exchange for cash donations made by the employer to charities.
December 15, 2016

ACA Reporting Deadline Delayed

In mid-November, the Internal Revenue Service (IRS) issued Notice 2016-70, which extends the due date by 30 days for furnishing forms under Sections 6055 and 6056 for 2016 and extends good-faith transition relief from penalties related to 2016 Section 6055 and 6056 reporting. The IRS does not anticipate extending the deadlines or transition relief from penalties to reporting for 2017.