Tag Archives: IRS

IRS Standard Mileage Rates Drop a Half-cent

Employers whose employees use their own vehicles business can now adjust their reimbursement forms and procedures for 2014, since the IRS released the standard mileage rates for the year in Notice 2013-80 on Dec. 6. The IRS also adjusted the…

Share

Employers Have an Easy Way to Find Answers to Health Care Reform Dilemmas

Earlier this week, President Obama said the Affordable Care Act will not be repealed as long as he is in office, in spite of its turbulent implementation process. No mention was made of the great sacrifices and adjustments employers are…

Share

Government Proposal Refines Reform Fees on Health Plans

A proposed rule put on public display Nov. 26 adjusts Transitional Reinsurance Program rules and tries to put out fires left burning by the ever-moving target of health care reform. For example, it proposes a lower contribution level insurers and…

Share

Employers Face Another End to QTFB Parity

Unless Congress acts soon, employees will once again have less to use for mass transit expenses under qualified transportation fringe benefit plans, and employers will once again have to lower the limits they allow under QTFBs at the end of…

Share

IRS Formalizes One-year Delay in Reform’s Reporting and Penalty Rules for Employers

An official announcement on transition relief for employers from information reporting requirements under health care reform, as well as on the delay of key provisions of the employer play-or-pay mandate, was issued July 9 in Notice 2013-45 from the U.S….

Share

IRS Form Amended to Collect Health Outcomes Research Tax

Starting July 31, 2013, the IRS will start collecting, and employers will start paying, a new excise tax authorized by the health reform law. This annual fee will be imposed on most insured and self-insured group health plans for the…

Share

Expanded Worker Classification Relief Program Available Until June 30

Is your company considering reclassifying certain workers from now on, but hesitant because it is worried about triggering a federal employment tax audit or having not consistently filed Forms 1099 for those workers in the past? If you answered “yes,”…

Share

Wells Fargo Finds More Older Workers Took 401(k) Plan Loans in 4Q

Although many 401(k) plans offer participants loans, a statistic that plan sponsors don’t want to see is the number and size of those loans increasing. But some of them are seeing just that, according to Wells Fargo. A recent study…

Share

GAO Recommends DOL, IRS Reduce Plan-to-plan Rollover Barriers

Most of the money contributed to traditional individual retirement accounts comes from rollovers, but the choices involved in moving 401(k) savings to an IRA or from one employer-sponsored plan to another should be made easier and more efficient. That’s the…

Share

HSA Trustees, Enrollees: Keep Upcoming Filing Dates in Mind

Trustees of health savings accounts, as well as participants, have some time left for reporting on 2012 accounts. And now they can begin preparing for 2013 reporting. The IRS has issued a reminder concerning the Form 5498-SA, “HSA, Archer MSA,…

Share

HR