Beware of tax promoters purporting to save employment taxes on health plans
A number of wellness plans and health plan arrangements have been marketed to employers as a way to save employment and income taxes for employers and employees.
Employee Benefits
Self-help stock purchase not IRA distribution
A taxpayer’s end run around an IRA custodian does not result in a taxable IRA distribution.
IRS guidance offers useful reminders about employee discount plans
The IRS recently released Field Attorney Advice providing guidance on the taxability of an employee discount plan.
Treasury ends myRA retirement savings program
Due to “extremely low” demand and high costs, the Treasury Department announced that it is ending the myRA retirement savings program.
Revised Senate health bill would retain taxes on higher-income individuals
The health care bill released by Senate Republicans on Thursday would retain the Affordable Care Act’s 3.8% net investment tax and the 0.9% Medicare surtax.
IRS issues 2018 inflation adjustments for HSAs
The IRS issued the inflation-adjusted figures for the annual contribution limits for health savings accounts.
Court grants hardship waiver for rollover failure
The Tax Court held it would be against “equity or good conscience” to deny an ex-NYPD police officer a hardship waiver for failing to meet the rollover requirement while he was suffering from a “major depressive disorder.”
Tax provisions in the Senate health care bill
The Senate Republicans’ bill to replace Obamacare would repeal many of the Affordable Care Act’s tax provisions. Here’s a look at the tax changes in the bill.
Deferred compensation: The proposed Sec. 457(f) regulations and Sec. 409A
This article discusses the treatment of Sec. 457(f) plans under the new regulations.
2018 health savings account limits increase slightly
The IRS released the 2018 annual inflation-adjusted amounts that apply to health savings accounts.
IRS cannot recharacterize DISC commissions paid to Roth IRA
The IRS could not recharacterize, under the substance-over-form doctrine, commissions paid by a DISC to two Roth IRAs as dividends..
Correcting employee plan errors outside EPCRS
This item discusses errors that are not correctable through EPCRS.
Proposed PPACA replacement bills contain many tax changes
The draft proposals to repeal the Affordable Care Act released by House Republicans evening would make many tax changes if enacted. Here’s a look at their impact on the tax code.
HRAs Are No Longer Prohibited Under the Patient Protection and Affordable Care Act
New law allows certain small businesses to use HRAs without incurring penalties under the PPACA.
PPACA Reporting Deadline Is Extended
The IRS announced extended due dates for information returns required to be filed under the Patient Protection and Affordable Care Act.
Proposed Regulations Provide Helpful Guidance for Sec. 457(f) Plans
This item provides background information on Sec. 457(f) plans and highlights certain aspects of the proposed regulations.
Congress Enacts Law Allowing HRAs Under the Affordable Care Act
The Senate passed the 21st Century Cures Act, which, among other things, permits certain employers to offer health reimbursement arrangements to employees without running afoul of the Patient Protection and Affordable Care Act’s market reform provisions.
Self-Certification Spells Relief for Late IRA Rollovers
The IRS self-certification procedure allows taxpayers who fail to meet the 60-day rollover requirement to claim eligibility for a waiver.
IRS Extends Due Dates for PPACA Forms and Penalty Relief
In response to concerns from employers, insurers, and other providers of minimum essential coverage, the Internal Revenue Service announced that it is extending the due dates for certain health care forms required under the Patient Protection and Affordable Care Act.
Treatment of Wellness Program Benefits and Employer Reimbursements Under a Sec. 125 Cafeteria Plan
For employees to evaluate the true tax benefits, they must understand the wellness programs and plans being offered.
