ACA Reporting Deadlines Extended and Penalties Potentially Abated

Posted on Tuesday, January 5, 2016 by

There have been several new developments in the area of tax compliance with the filing requirements of the Affordable Care Act (ACA). These developments are in response to employer concerns regarding preparation of the initial series of IRS Forms 1095-B and C for their employees.

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2016 Planning for Employers Already Subject to ACA

Posted on Wednesday, August 19, 2015 by

As open enrollment is approaching for coverage in 2016, employers should determine if their health programs are working as effectively as possible. Here are three issues to consider.

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IRS hints at important qualified plan compliance issues for 2015

Posted on Friday, January 30, 2015 by

The IRS recently released a draft of Form 5500-SUP (Annual Return of Employee Benefit Plan Supplemental Information). This new paper-only form will be required for the 2015 filing season, and is aimed at those who do not file electronically—for example, those filing Form 5500-EZ. However, the IRS’ announcement of this form states that the IRS […]

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Will You Be Impacted by the Affordable Care Act, and If So, When?

Posted on Friday, June 27, 2014 by

By: Ted Ginsburg, CPA, JD There has been a great deal of misunderstanding about the Affordable Care Act (ACA), a law that requires each large employer offering health care programs to offer a certain percentage of its full-time employees affordable health coverage that provides certain benefits, or potentially be subject to an excise tax. The […]

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Supreme Court Shuts Down Potential 2010 Employment Tax Refund Opportunity

Posted on Wednesday, April 9, 2014 by

In an update to my earlier blog, “Learn How You May Qualify for an Additional Tax Refund from 2010,” I referenced the case of U.S. v. Quality Stores, 693 F.3d 605 (6th Cir, 2012), in which an employer fired 3,100 employees, paid them severance benefits and argued that these benefits were not subject to FICA […]

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Affordable Care Act Regulations Update: Minimum Essential Coverage

Posted on Friday, March 21, 2014 by

On March 5, 2014, the IRS issued final regulations on the reporting requirements for providers of “minimum essential coverage” under the Affordable Care Act (ACA).  The shared responsibility provisions require employers who employ more than a certain number of full-time equivalent employees to offer affordable health care to a certain percentage of their full time […]

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Learn How You May Qualify for an Additional Tax Refund from 2010

Posted on Tuesday, February 18, 2014 by

Did you know, you may qualify for an additional 2010 employment tax refund? It is not uncommon for an employer to provide severance pay to an employee who leaves under certain circumstances. When severance payments are made, most employers treat them as wages subject to federal employment taxes (i.e. FICA).  In 2012, a case decided by […]

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Affordable Care Act Mandate: Updates to the 2015 Regulations

Posted on Tuesday, February 11, 2014 by

Final ACA regulations issued February 10, 2014 delay or reduce the employer mandate for all employers until January 1, 2016. On February 10, 2014, the IRS issued an 89 page final regulation on one part of the Affordable Care Act (ACA) that has been of particular concern to employers—the shared responsibility provisions. The shared responsibility provisions […]

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Contributory Retirement Plans: What You Need to Know About Late Remittance

Posted on Thursday, February 6, 2014 by

It’s pay day!  Your gross pay every two weeks is $1,000, but somehow you only end up with $700.  The government has taken their cut, health insurance premiums have been withheld… and some of us are putting a few dollars aside for retirement.  We have a deduction labeled “401k” on our check stub.  It’s our […]

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Tax Deductible Expenses: Has the IRS Changed Positions on Bonus Accrual Deductions?

Posted on Thursday, December 19, 2013 by

Many employers have formalized annual bonus programs for key employees; these arrangements typically award a bonus if employees reach specific targets. As employers cannot always determine if the targets have been met until after the year is over, it is common for an accrual basis employer to pay a bonus to an employee after year-end.  […]

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