Health care

Trade Preferences Act Amends the Tax Code

The Trade Preferences Extension Act of 2015, enacted on June 29, contains a few tax provisions in addition to the trade measures that were the focus of the bill.

Guidance on Health Care Law Is Issued

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

IRS Issues Guidance on Health Insurance Premium Tax Credits

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.

IRS Signals PPACA Compliance Issues for 2015

This month, the IRS made several updates to the Internal Revenue Manual that provide insight on the notices and enforcement methods the Service will use next tax season to ensure taxpayers comply with the health care law.

Guidance Issued on Small-Employer Premium Tax Credit

IRS final regulations provide guidance on how small employers determine full-time-equivalent employees and average annual wages, how to calculate the credit, and what is a "qualifying arrangement" for purposes of the credit.

Newsletter Articles

PRACTICE MANAGEMENT

Tax software survey

Our annual survey offers a look at how CPAs judged their tax preparation software in a wide range of types of practices.

NEWS

Congress enacts tax reform

Here are many of the most important provisions in the new law that affect both individual taxpayers and businesses. All changes were effective Jan. 1, 2018, except as noted.