News & Analysis as of

Healthcare Excise Tax

Verrill

A Primer on COBRA Continuation Coverage for Health Care Flexible Spending Accounts

Verrill on

It is a common practice for employers to offer employees a health care flexible spending account (“Health FSA”) option under a cafeteria plan. However, employers (and their COBRA administrators) may not be aware that Health...more

White and Williams LLP

Inflation Reduction Act

White and Williams LLP on

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (“IRA”) into law. While much of the legislation is geared towards climate change mitigation, clean energy, and provisions to promote health care...more

Verrill

Health Plans: PCORI Fee Is Due August 1, 2022

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What is the PCORI Fee? The Affordable Care Act created a non-profit corporation, the Patient-Centered Outcomes Research Institute (“PCORI”), to conduct research to help individuals, providers, and policymakers make better...more

Holland & Knight LLP

Post-Inauguration Outlook: ACA, Fiduciary Rule and Retirement-Related Tax Provisions

Holland & Knight LLP on

President Donald Trump took the oath of office on Jan. 20, 2017, officially ushering in Republican control of the executive and legislative branches of government. With Republican control of both houses of Congress, and a new...more

Bradley Arant Boult Cummings LLP

Third Time’s a Charm: Governor Bentley and Legislature Reach Budget/Tax Compromise

Summary - Governor Robert Bentley called a second special session of the Alabama Legislature on Tuesday, September 9 at 5 p.m. to address the FY 2016 General Fund budget and associated revenue measures. After meeting for...more

Proskauer - Employee Benefits & Executive...

New IRS Guidance on 40% Excise Tax Previews Future Regulatory Complexity

Although public opposition to the 40% excise tax on high-cost health care is rapidly growing, the IRS continued to develop a regulatory framework for administration of the excise tax through its issuance of Notice 2015-52 on...more

K&L Gates LLP

New Nevada Commerce Tax Effective July 1, 2015

K&L Gates LLP on

While not purporting to give specific advice on Nevada tax law, the following is a summary of some of the general principals underlying the new tax law. A new Nevada Commerce Tax (“NCT”) was signed into law by Nevada Governor...more

Baker Donelson

IRS Ruling Addresses Application of Medical Device Excise Tax in Contract Manufacturing Arrangement

Baker Donelson on

In Private Letter Ruling 201420004 (released May 16, 2014), the Internal Revenue Service (IRS) has ruled on the question of which party in a contract manufacturing arrangement is the "manufacturer" for purposes of the medical...more

King & Spalding

March and April 2014 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

King & Spalding on

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

Cozen O'Connor

Brindisi Tax Academy -- 2013 Year-End Tax Update

Cozen O'Connor on

I. A Look Back At 2013 Tax Matters, “Gangnam Style” - A. Some Random Observations. - 1. When we penned last year’s Update for you, dear reader, this fair country of ours stood six feet from the edge of the “...more

King & Spalding

2014 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

King & Spalding on

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

King & Spalding

November and December Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

King & Spalding on

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

Morgan Lewis

Affordable Care Act Shared Responsibility Penalty Delayed Until 2015

Morgan Lewis on

Employers welcome a one-year delay in the Shared Responsibility excise tax. On July 2, the U.S. Department of the Treasury (Treasury) made a surprise announcement—in an unusual place—that implementation of the employer...more

Bradley Arant Boult Cummings LLP

IRS Issues Proposed Regulations on the New Community Health Needs Assessments Required for Charitable Hospitals

On April 5, 2013, the Internal Revenue Service published proposed regulations (Proposed Regulations) in the Federal Register that provide guidance to charitable hospital organizations on the community health needs assessment...more

King & Spalding

IRS Issues Final Regulations Implementing the Affordable Care Act’s Medical Device Excise Tax

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On December 5, 2012, the Internal Revenue Service (IRS) published final regulations regarding the implementation of the excise tax applicable to the sale of certain medical devices, enacted by the Patient Protection and...more

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