As the pandemic continues to scar wide portions of our society, a number of employees have expressed to their employers an interest in donating their own PTO to help co-workers and community members adversely impacted by...more
7/17/2020
/ Charitable Organizations ,
Coronavirus/COVID-19 ,
Employer Liability Issues ,
Infectious Diseases ,
IRS ,
Paid Time Off (PTO) ,
Revenue Rulings ,
Sick Leave ,
Tax Deductions ,
Wage and Hour ,
Workplace Safety
In an apparent effort to ease some of the anxieties surrounding the impact of the Families First Coronavirus Response Act on employers, the Department of Treasury, IRS, and Department of Labor issued a press release on...more
As you may recall, a previous article recently published in the Benefits Update newsletter reviewed the letters that employers were beginning to receive regarding potential liability for employer shared responsibility...more
Every year, the IRS announces the annual limits for various types of employee benefits, such as Health Savings Accounts (HSAs). The IRS has already changed the 2018 annual limits for HSAs twice this year, which may have...more
6/12/2018
/ Contribution Limits ,
Employee Benefits ,
Excise Tax ,
HDHP ,
Health Insurance ,
Health Savings Accounts ,
Income Taxes ,
IRS ,
Medical Expenses ,
Revenue Procedures ,
Tax Planning
Late last year, Congress passed the Tax Cuts and Jobs Act (the “Act”) and it was quickly signed by the President. The Act seeks to reform the current tax system and contains numerous provisions that may be significant to...more
3/12/2018
/ Affordable Care Act ,
Compensation & Benefits ,
Disaster Aid ,
Employee Relocations ,
Equity Grants ,
Excise Tax ,
Fringe Benefits ,
Health Insurance ,
Incentive Awards ,
Income Taxes ,
Individual Mandate ,
IRA Rollovers ,
IRS ,
Publicly-Traded Companies ,
Qualified Restricted Stock Units (RSUs) ,
Retirement Plan ,
Roth IRA ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exempt Entities ,
Tax Exemptions ,
Tax Reform ,
Trump Administration ,
Wage and Hour
After multiple failed attempts by Congress to reform the Affordable Care Act (ACA), President Trump announced several weeks ago that the federal government would stop making subsidy payments to insurers who sell coverage...more
12/1/2017
/ Affordable Care Act ,
Association Health Plans ,
Bipartisan Agreement ,
Department of Health and Human Services (HHS) ,
Department of Labor (DOL) ,
Electronic Filing ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Employer Liability Issues ,
Executive Orders ,
Health Insurance ,
Healthcare Costs ,
Healthcare Reform ,
Income Taxes ,
IRS ,
MEWAs ,
Minimum Essential Coverage ,
Preliminary Injunctions ,
Premium Subsidies ,
Qualified Small Employer Health Reimbursement Plan (QSEHRAs) ,
Reporting Requirements ,
Small Employers ,
Subsidies ,
Tax Returns ,
Trump Administration
You may recall that President Trump signed an executive order on the day of his inauguration directing all agencies to minimize the economic burden of the Affordable Care Act (ACA) pending its repeal. You may recall also that...more
9/13/2017
/ Affordable Care Act ,
Employer Group Health Plans ,
Employer Liability Issues ,
Employer Mandates ,
Executive Orders ,
Full-Time Employees ,
Health Insurance ,
IRS ,
Penalties ,
Repeal ,
Shared Responsibility Rule ,
Trump Administration
Retirement plans are permitted, but not required, to provide in-service distributions of elective deferrals to participants if they can show financial hardship, which is defined as a hardship that is “deemed to be on account...more
As the end of the calendar year approaches, so does the fiscal year or “plan year” for many employee benefit plans. Between complying with continuing annual deadlines while integrating new rules and regulations, employers...more
A number of employers have reported troublesome Social Security Number (SSN) issues cropping up when filing Affordable Care Act (ACA) notices with the IRS. Many have received “AIRTN500” error messages, which indicate...more