The IRS provided employers with helpful guidance regarding situations where an employer changes the measurement period or method it uses for determining if a variable-hour or part-time employee has become a full-time employee.
Final regulations permit employers to offer limited wraparound coverage for health care if they meet five requirements.
The Treasury Department announced on Tuesday that taxpayers do not have to file amended returns if they already filed their 2014 tax returns relying on forms sent by the government that contained incorrect information about their health coverage and any advance premium tax credit they received.
To prepare for the new excise tax on so-called Cadillac high-cost health insurance plans, the IRS is asking for comments on proposed approaches to creating guidance on issues involving the tax when it becomes effective in 2018.
The government announced that many taxpayers who signed up for health insurance on the site have received an incorrect Form 1095-A for 2014. It also announced an extension of time for uninsured taxpayers to sign up for insurance on the website.
The IRS announced transition relief from the application of the Sec. 4980D excise tax, which applies to health plans that do not meet the market reform requirements of the Patient Protection and Affordable Care Act.
The IRS released a package of guidance on 2010's health care reform legislation, finalizing proposed regulations on minimum essential coverage, identifying the hardship exemptions from the Sec. 5000A individual shared-responsibility penalty for which individuals are not required to provide exemption certificates, and providing indexing adjustments for certain calculations under the Sec. 36B premium tax credit and Sec. 5000A
Challenges now moving through the federal courts target the IRS's interpretation that the Sec. 36B premium assistance credit to insurance purchased on both state health insurance exchanges and federal health insurance exchanges.
The IRS will provide automatic penalty relief for taxpayers who, when they reconcile advance payments of the premium tax credit they received for 2014 to the amount of the credit they are entitled to on their income tax returns, find they owe additional tax.
Taxpayers who are faced for the first time this tax season with complying with the health care law provisions will be able to get help from the government, the secretaries of the Treasury and of Health and Human Services announced.
In September 2014, the IRS made several updates to the Internal Revenue Manual that provide insight on the notices and enforcement methods the Service will use this tax season to ensure taxpayers comply with the Patient Protection and Affordable Care Act.
The IRS issued final regulations under Sec. 162(m)(6), which imposes a $500,000 federal income tax deduction limitation for compensation paid by a covered health insurance provider.
This article highlights some notable recent rules and guidance in employee benefits and compensation, as well as case law pertaining to employee benefits.
Dental, vision, and long-term-care benefits will qualify as excepted benefits under final regulations issued by the IRS
The IRS issued two notices proposing to change the rules for when a taxpayer can revoke health care coverage in a cafeteria plan and enroll in a plan on the Health Insurance Marketplace exchanges, and how to measure the lookback period for determining who is a full-time employee when an employee changes positions within the same employer group.
The Seventh Circuit affirmed the dismissal of a suit objecting to the IRS's decision to delay imposing the Sec. 4980H employer mandate penalty until 2015.
The IRS released health care guidance, including final regulations on minimum essential coverage, a list of hardship exemptions from individual shared-responsibility penalty, and indexed adjustments for certain calculations under the premium tax credit.
As of the date of this writing, however, questions of substantiating coverage for 2014 remain unanswered, meaning practitioners and their clients should be taking action to avoid substantial potential penalties under PPACA.
On the same day, the D.C. Circuit and Fourth Circuit Courts of Appeals issued decisions on whether Regs. Sec. 1.36B-2(a)(1), which authorizes a premium tax credit for insurance purchased on health insurance exchanges established by the federal government, is a valid regulation.
The IRS issued regulations and revenue procedures addressing how to calculate the Sec. 36B premium tax credit, including how the credit is calculated in conjunction with the Sec. 162(l) deduction for health insurance premiums of self-employed individuals.