Benefits and Taxes: Advantages for Employers and Employees
Employee benefits can be complex to administer, particularly in terms of taxation. It is important to understand the tax implications for both the employer and employee. This article will explain the general considerations related to the taxation of employee benefits. Employer Tax Implications Employers can usually deduct amounts that they […]
Shutdown Talk About Refunds Doesn’t Change Employer Filings
All the hubbub over the federal government shutdown has resulted in some confusion and questions about taxpayers and potential tax refunds they may be due. Importantly, and as a reminder, we point out two important facts: This latest discussion concerns ONLY individuals and their individual Form 1040 tax filings and […]
The Employer Mandate in 2018: Proposed New Mandatory E-filing
IRS Proposed Regulations Expand Mandatory Electronic Filing of Information Returns The IRS in May published proposed regulations expanding mandatory electronic filing of most information returns – Form W-2, forms in the 1099 series, Form 1095-B, and Form 1095-C. These proposed regulations would be effective for information returns required to be filed after […]
The “New” AHPs: Hot or Not?
“President Trump is expanding affordable health coverage options for America’s small businesses and their employees. Many of our laws make healthcare coverage more expensive for small businesses than large companies. Association Health Plans are about more choice, more access, and more coverage.” — U.S. Secretary of Labor Alexander Acosta According to […]
The ACA and Affordability – What is this anyway?
While non-ALEs who offer group health coverage may have small group carrier requirements about affordability for their employees, these non-ALE employers are not subject to the Section 4980H affordability requirements and cannot be held liable for any employer shared responsibility penalties. Now that the IRS is actively enforcing the employer shared […]