IRS Proposes Permanent Extension for Distributing ACA Reports

The IRS has issued proposed regulations, which if finalized, would extend the annual furnishing deadlines for Internal Revenue Code (IRC) Sections 6055 and 6056 reporting under the Affordable Care Act […]
IRS Draft Form 941 Reflects COBRA Subsidy Tax Credit

IRS Draft Form 941 Reflects COBRA Subsidy Tax Credit The IRS recently released a draft of the revised 2021 version of Form 941, Employer’s Quarterly Federal Tax Return, in order […]
August Compliance Recap

August 2020 Compliance Recap August was a relatively busy month in the employee benefits world. The Congressional Research Service (CRS) released an updated report on health savings accounts (HSAs) that […]
Important Plan Considerations Regarding FSA Mid-Year Changes

Important Plan Considerations Regarding FSA Mid-Year Changes As you are aware, in order to provide additional relief to Americans during these challenging times, the IRS released Notice 2020-29 and 2020-33. […]
May Compliance Recap

May was a busy month in the employee benefits world. The Internal Revenue Service (IRS) issued IRS Notice 2020-29 that provides increased flexibility for making mid-year elections or changes under […]
HSA Limits Released for 2021

IRS issued the 2021 cost-of-living adjustments for Health Savings Accounts and High Deductible Health Plans. 2020 2021 Self-Only Contribution Limit $3,550 $3,600 Family Contribution Limit $7,100 $7,200 HDHP – […]
Further Guidance on Internal Revenue Service Notice 2020-29

Further Guidance on Internal Revenue Service Notice 2020-29 The Internal Revenue Service (IRS) issued IRS Notice 2020-29 (Notice) that provides increased flexibility for making mid-year elections or changes under a […]
IRS Releases Two New COVID-19 Notices

IRS Releases Two New COVID-19 Notices To provide additional relief to Americans during these challenging times, the IRS released Notice 2020-29 and 2020-33. These notices provided new relaxed rules for […]