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Health Insurance Tax Deductions

Troutman Pepper

CFPB Continues Medical Expenses Scrutiny by Highlighting the Costs of Health Savings Accounts

Troutman Pepper on

The Consumer Financial Protection Bureau (CFPB) recently released an Issue Spotlight highlighting the costs and fees associated with Health Savings Accounts (HSAs). While acknowledging that HSAs offer tax advantages that can...more

The Wagner Law Group

IRS Warns Companies are Making False Statements About Health Plan Reimbursements

The Wagner Law Group on

In IR-2024-65 (the “IR”), the IRS warns taxpayers that some companies are misrepresenting the circumstances under which food and wellness expenses can be paid or reimbursed under health flexible spending arrangements (“health...more

McDermott Will & Emery

Weekly IRS Roundup July 24 – July 28, 2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 24, 2023 – July 28, 2023. July 24, 2023: The IRS released Internal Revenue Bulletin 2023-30,...more

Patrick Malone & Associates P.C. | DC Injury...

Better Health Care Newsletter - May 2023

Tens of millions of us endured the annual paper chase of tracking down and sorting through receipts and forms so we could file income tax returns. Here’s another paper exercise that promises more personal benefits than just...more

Gerald Nowotny - Law Office of Gerald R....

NOWOTNY KNOWS SQUAT! Part IV Using Post-Retirement Medical Plans to Raise AUM and Sell Life Insurance

Gerry discusses 401(h) post-retirement medical plans. These are ancillary benefits that snap onto defined benefit or money purchase plans. This is a powerful benefit you should be discussing with your clients!...more

Eversheds Sutherland (US) LLP

American Rescue Plan saves employers from two months without legislation

On March 11, 2021, President Biden signed the American Rescue Plan Act (the Act), which includes some notable changes and relief for employers and employee benefit plans. The Act expands the section 162(m) deduction...more

Gerald Nowotny - Law Office of Gerald R....

NOWOTNY ON DEATH AND TAXES EPISODE 35 USING POST-RETIREMENT MEDICAL PLANS TO RAISE AUM

In episode #35 of Nowotny On Death and Taxes - Nowotny Knows Squat! Using Post-Retirement Medical Plans to Raise Assets Under Management and Sell Life Insurance; this podcast focuses on the 401(h) plan. This strategy provides...more

Groom Law Group, Chartered

[Webinar] COVID-19 Legislative Update – Health, Pension and Tax Provisions in the American Rescue Plan Act - March 16th, 1:00 pm -...

On March 10, 2021, the House of Representatives passed the American Rescue Plan Act (H.R. 1319, the “Act”), sending it to President Biden for his signature later this week. The Act includes a number of significant health,...more

Bowditch & Dewey

More Key Tax Provisions from the Consolidated Appropriations Act

Bowditch & Dewey on

On December 27, 2020, Congress passed the 5,593 page Consolidated Appropriations Act. The “Act” includes several provisions and extensions of previously expiring provisions relevant to individual taxpayers: MEDICAL EXPENSE...more

Farrell Fritz, P.C.

Deductions For PPP Covered Expenses – Almost There; How Will Your Business Use The Tax Savings?

Farrell Fritz, P.C. on

What Did You Do Last Night? “Friday night, May 15 . . . You didn’t watch the roll call vote in the House? . . . On CSPN . . . The HEROES Act. . . . C’mon, seriously. . . . Really? . . . You had no interest whatsoever? . ....more

Skadden, Arps, Slate, Meagher & Flom LLP

CARES Act Provides Much-Needed Stimulus for U.S. Businesses, Individuals

On March 27, 2020, Congress approved the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide financial assistance to individuals and businesses, which in aggregate greatly exceeds the financial package...more

McDermott Will & Emery

Weekly IRS Roundup November 11 – 15, 2019

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 11–15, 2019. November 11, 2019: The IRS released Delegation Order 30-9 announcing the...more

Dickinson Wright

IRS General Counsel Opinion on Deductibility of Health Insurance Premiums Paid for Family Members of S Corporation Shareholders

Dickinson Wright on

The IRS recently issued a Chief Counsel Memorandum clarifying when a family member of a 2% shareholder in an S corporation is entitled to a deduction under Section 162(l) of the Internal Revenue Code (the “Code”) for health...more

Downs Rachlin Martin PLLC

Vermont Legislative Update 04-12-2019 - An analysis from DRM's Government & Public Affairs Team

PFAS bill progresses - The House Natural Resources Committee finished deliberation this week on S.49, a bill that grants the Agency of Natural Resources more discretion in setting the maximum contaminant level for PFAS...more

Rosenberg Martin Greenberg LLP

Recent Report from Maryland Medical Cannabis Commission on Compassionate Use Fund Highlights Disparate Tax Treatment of...

In a December 2018 letter to Governor Hogan, the President of the Senate, and the Speaker of the House, the Maryland Medical Cannabis Commission (“MMCC”) discussed plans to fund the Compassionate Use Fund. As medical...more

Holland & Knight LLP

Seven Tips for Tribal Governments to Reduce Tribal Member Taxes in 2019

Holland & Knight LLP on

• With Democrats taking control of the U.S. House of Representatives, tax provisions affecting tribal governments and their members are once again on the table for discussion. • This notice provides an overview of seven...more

Chambliss, Bahner & Stophel, P.C.

IRS Issues Long-Term Care Premium Deductibility Limits for 2019

The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2019 income as a result of buying long-term care insurance. Premiums for "qualified" long-term care insurance policies (see...more

Fisher Phillips

What Every Employer Needs To Know About The Tax Reform Law

Fisher Phillips on

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

Holland & Knight LLP

Six Tips for Tribal Governments to Reduce Tribal Member Taxes in 2018

Holland & Knight LLP on

• President Donald Trump on Dec. 22, 2017, signed the Tax Cuts and Jobs Act, the first major overhaul of the U.S. tax system in over 30 years. • Although few of the enacted provisions are specific to Indian Country, several...more

Burns & Levinson LLP

Tax Reform: Compensation and Benefits

Burns & Levinson LLP on

The new federal tax reform, signed into law by President Trump on December 22, 2017, will change tax liabilities and strategies for many organizations and individuals beginning this year. The following is a summary of key...more

Baker Donelson

New Tax Overhaul and Government Funding Measures: What's in It for Health Care?

Baker Donelson on

In the week before Christmas, Congress approved and President Trump signed into law the final Republican tax overhaul bill. While primarily focused on individual and business tax cuts and reform, the new tax bill taking...more

Schwabe, Williamson & Wyatt PC

Tax Reform: What Does the Tax Cuts and Jobs Act Mean for the Healthcare Industry?

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Schwabe, Williamson & Wyatt PC

Summary of Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Schwabe, Williamson & Wyatt PC

New Tax Law Provisions Affect Employee Benefit Programs

The Tax Cuts and Jobs Act (the “Act”) recently enacted by Congress will soon become effective. The primary focus of the new law is the reduction of corporate and individual income taxes. Nevertheless, a number of provisions...more

BakerHostetler

The Impact of the 2017 Tax Reforms on Employment-Based Benefits and Tax-Favored Compensation

BakerHostetler on

Whenever the United States Congress takes up “tax reform,” there always is a danger that the Congress will pay for such tax reform, in part, by eliminating many of the tax incentives that enable employers to provide...more

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