News

HR and Benefits Newsletter July 2017

The federal Occupational Safety and Health Administration (OSHA) has announced that it is not accepting electronic submissions of information from 2016 Forms 300A at this time. As a result, OSHA has proposed extending the July 1, 2017 date by which certain employers are required to electronically submit these forms pursuant to its recent “Electronic Recordkeeping […]

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 […]