Category: Uncategorized

Reporting Extensions Announced

On Monday, the IRS announced an extension to the due dates for 1094 and 1095 forms: The deadline to provide employees with 1095-B & 1095-C Forms has been extended from January 31, 2016 to March 31, 2016. The deadline to file paper 1094-B, 1094-C, 1095-B & 1095-C forms has been extended from February 29, 2016 […]

Cadillac Tax & “HIT” tax Delayed

As you may have heard, yesterday President Obama signed into law an omnibus spending appropriations bill, and contained in this were several significant changes to the “Cadillac Tax” section of the Affordable Care Act. Here are the highlights: The effective date of the Cadillac Tax has been delayed until January 1, 2020 Any excise tax […]

2016 Changes to Tax Benefits and Retirement Plan Limits

The IRS has announced several inflation adjustments that affect tax-related items for employers and employees. Items that may be of particular interest for tax year 2016 include: Limit on Health Flexible Spending Arrangement (FSA) Contributions. The annual dollar limit on employee contributions to employer-sponsored health FSAs remains unchanged at $2,550. Small Business Health Care Tax […]

Proposed Rules Implement Supreme Court’s Same-Sex Marriage Decision for Federal Tax Purposes

New proposed rules provide that a marriage of two individuals–whether of the same sex or the opposite sex–will be recognized for federal tax purposes if that marriage is recognized by any state, possession, or territory of the United States. The proposed rules implement the U.S. Supreme Court decision issued in June to reflect that same-sex […]

Holiday Bonus Know-How: 3 Guidelines for Employers

The end of the year is a traditional time for recognizing employees’ contributions to your business. Whether you choose to give your employees a raise, a bonus, or a non-monetary reward, it’s important to let your employees know that you appreciate their hard work.   Choosing a Reward While bonuses and pay raises are popular […]

Applicable Dollar Amount for Calculating PCORI Fee Adjusted for Inflation

The IRS has issued guidance which increases the applicable dollar amount used to determine the Patient-Centered Outcomes Research Institute (PCORI) fee. For plan years ending on or after October 1, 2015 and before October 1, 2016, the fee is $2.17 (multiplied by the average number of lives covered under the plan).   Background PCORI fees […]

No Social Security Benefit Increase for 2016

The Social Security Administration has announced that monthly Social Security and Supplemental Security Income (SSI) benefits will remain the same in 2016. The Social Security Act provides for an automatic increase in Social Security and SSI benefits if there is an increase in inflation as measured by the Consumer Price Index for Urban Wage Earners […]

2015 Trends in Employer-Provided Health Benefits

Offers of coverage, employee cost-sharing, and employer responses to Health Care Reform are among the topics analyzed in the annual 2015 Employer Health Benefits Survey, conducted by the Kaiser Family Foundation and the Health Research & Educational Trust. Key findings from the survey include: 97% of firms with 100 or more employees offered health benefits […]

Final Forms and Instructions Available for Employers to Report 2015 Health Coverage and ACA Compliance

The IRS has released finalized forms and instructions for 2015 to help employers prepare for compliance with the new information reporting provisions under the Affordable Care Act (ACA). Covered employers are required to report for the first time in early 2016 for calendar year 2015.   Who is Required to Report As a reminder, Forms […]

Checking in With New Employees

New employee orientation, also known as onboarding, is essential to familiarizing newly hired employees with your workplace. But even if your company doesn’t conduct a formal orientation or onboarding program, there is good reason for employers to connect with new hires after they’ve had a chance to settle in.   Benefits of Checking In Hiring […]