Affordability and Penalty Thresholds Adjusted Under ‘Pay or Play’
New IRS guidance clarifies certain aspects of the Affordable Care Act’s “pay or play” provisions related to determining affordability of employer-provided coverage and calculating penalty amounts for calendar years 2015 and 2016. Adjusted Affordability Threshold...
Read MoreNew Standard Mileage Rates and Changes to Transportation Tax Benefits
The 2016 optional standard mileage rate used to calculate the deductible costs of operating an automobile for business purposes is now in effect. Separately, a new law creates permanent parity for certain qualified transportation benefits provided to employees,...
Read MoreDelays Announced for ACA Information Reporting Deadlines (Forms 1094 & 1095) and ‘Cadillac Tax’ on High-Cost Employer-Sponsored Health Coverage
Employers affected by two significant provisions of the Affordable Care Act (ACA) should take note of delays announced at the end of last month. Deadlines Extended for 2015 ACA Information Reporting Requirements IRS Notice 2016-4...
Read MoreHR & Benefits Compliance Alert – IRS Delays Reporting
On Monday, December 28th the Internal Revenue Service (IRS) announced it was delaying the 2016 Affordable Care Act reporting requirements. In Notice 2016-4 the IRS announced that the deadline for providing to individuals the 2015...
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