Posts Tagged ‘IRS’

IRS Announces 2018 Health Savings Account Limits

Health Savings Accounts (HSAs) are pre-tax accounts available to individuals covered under a high-deductible health plan. Eligible individuals can accumulate money, tax-free, in HSAs to pay for qualified medical expenses in the face of rising health insurance costs. The IRS announced the annual limits for HSA contributions for 2018. These limits are indexed for inflation and released […]

11 May 17 - Benefits - Gail Cecchettini Whaley - No CommentsRead More »

IRS Extends Deadlines for 2015 ACA Reporting

On December 28, 2015, the IRS issued Notice 2016-4, which extends the ACA reporting deadlines for 2015 as follows: (1) The due date for employers to provide the 2015 Form 1095-B, Health Coverage, and the 2015 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage to employees is extended from February 1, 2016, to March 31, […]

30 Dec 15 - Health Care Reform - Gail Cecchettini Whaley - No CommentsRead More »

Final Pay Penalties Are Not Wages for Federal Tax Purposes

Employers in California are subject to penalties under Labor Code section 203 if they fail to pay an employee who quits or is terminated in a timely manner. These penalties are referred to as waiting time penalties. The Internal Revenue Service (IRS) just released a Chief Counsel Advice Memorandum which states that waiting time penalties […]

3 Dec 15 - Final Paycheck - Gail Cecchettini Whaley - No CommentsRead More »

New IRS Resource Helps Employers Understand Health Care Law

The new ACA Information Center for Applicable Large Employers (ALE) page on IRS.gov features information and resources for employers of all sizes on how the health care law may affect them if they fit the definition of an applicable large employer. The web page includes the following sections: What’s Trending for ALEs; How to Determine […]

25 Sep 15 - Benefits, Health Care Reform, Reporting Requirements - HRWatchdog - No CommentsRead More »

IRS Announces 2015 Health Savings Account Limits

Health Savings Accounts (HSAs) are pre-tax accounts available to individuals covered under a high-deductible health plan. Eligible individuals can accumulate money, tax-free, in HSAs to pay for qualified medical expenses in the face of rising health insurance costs. To participate in an HSA, the policyholder must, among other requirements, be enrolled in an HSA-qualified high-deductible […]

2 Jun 14 - Benefits - Gail Cecchettini Whaley - No CommentsRead More »