News

Special Tax Credit Available for Certain Workers The Internal Revenue Service (IRS) is reminding low- and moderate-income workers that they can take steps now to save for retirement and earn a special tax credit in 2016 and years ahead. Background The saver’s credit, also known as the retirement savings contributions credit, helps offset part of […]

Employers May Continue to Rely on Prior Guidance Prior guidance addressed how opt-out arrangements—an arrangement whereby an employer offers its employees a cash payment in exchange for declining coverage under an employer-sponsored plan—are to be taken into account for purposes of determining whether an employer-sponsored group health plan offers affordable coverage. While the IRS anticipated […]

Notice Available for Download The Internal Revenue Service (IRS) has released Notice 1036, Early Release Copies of the Yearly Percentage Method Tables for Income Tax Withholding. Highlights of the notice include the following: Early release copies of the percentage method tables for income tax withholding that will appear in Publication 15 (Circular E), Employer’s Tax […]

Information on Filing, Exemptions, and Potential Payment With the 2016 federal income tax filing season approaching, the IRS is reminding individual taxpayers of the “individual mandate” (also called individual shared responsibility) provision of the Affordable Care Act, which requires every individual to have minimum essential coverage (MEC) for each month, qualify for an exemption, or […]

Previous Deadline was December 15, 2016 The Health Insurance Marketplace deadline to enroll in or change plans for coverage to start on January 1, 2017 has been extended to 11:59 P.M. EST on December 19, 2016. The previous deadline was December 15, 2016. The last day to enroll in or change any 2017 health plan […]

President Obama has signed into law the 21st Century Cures Act, which, among other things, allows small employers to offer new “qualified small employer health reimbursement arrangements” to reimburse employees for qualified medical expenses, including individual health insurance premiums, for years after December 31, 2016. Small employers are defined as those with fewer than 50 […]

Tax Returns Due April 18 The Internal Revenue Service (IRS) has announced that tax season will begin Monday, January 23, 2017 and that the filing deadline to submit 2016 tax returns is April 18, 2017. Tax Season Begins January 23 The IRS will begin accepting electronic tax returns on January 23, 2017. Many software companies […]

Everyday Practices Can Help Prevent Illness Interaction between people in close contact increases the risk for respiratory illnesses like the flu to spread. In the workplace, employees who are sick may not be as productive when it comes to getting work done, and symptoms such as coughing, sneezing, and fever can spread germs to healthy […]

The IRS has released Form 8941, Credit for Small Employer Health Insurance Premiums, and related instructions, for tax year 2016. Eligible small employers use this form to figure the credit for health insurance premiums under the Small Business Health Care Tax Credit. The Small Business Health Care Tax Credit is designed to encourage small businesses and tax-exempt employers to offer […]

Duty Extends Only to Members of a Worker’s Household The California Supreme Court recently addressed the issue of whether (among other things) an employer that uses asbestos in the workplace has a duty of care to protect members of an employee’s household from exposure to asbestos through off-site contact with employees who carry asbestos fibers […]