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On November 5, 2018, the Internal Revenue Service (IRS) released Notice 2018-85 to announce that the health plan Patient-Centered Outcomes Research Institute (PCORI) fee for plan years ending between October 1, 2018 and September 30, 2019 will be $2.45 per plan participant. This is an increase from the prior year’s fee of $2.39 due to … Continued
When will the new Form W-4 be released? In 2020, according to a press release published by the Treasury Department on September 20, 2018. The department announced that the IRS will implement a redesigned W-4 form for tax year 2020, a timeline that will allow for continued work to refine the new approach for the … Continued
DOL Releases Assistance for Enforcement of Tip Credit Rules under FLSA On April 6, 2018, the U.S. Department of Labor released a field assistance bulletin (FAB No. 2018-3) providing guidance concerning the Wage and Hour Division’s (WHD) enforcement of tip credit rules under the Fair Labor Standards Act (FLSA) after Congress amended the FLSA in … Continued
Our February 1, 2018 blog post reported on the late February release of the Form W-4 and guidance on the income withholding rules that changed under the Tax Cuts and Jobs Act. On February 28, 2018, the federal Internal Revenue Service (IRS) released the new 2018 Form W-4 and an updated withholding calculator. Why a … Continued
On January 11, 2018, the Internal Revenue Service released its income tax withholding tables for 2018 reflecting changes made by the December 2017 tax reform legislation. The updated withholding information provides the new rates for employers to use during 2018. Employers are encouraged to use these tables as soon as possible but must use them by … Continued
How Changes to the Mileage Reimbursement Rate and Qualified Transportation Benefits Will Impact Employers in 2018 On December 14, 2017, the Internal Revenue Service released the 2018 standard mileage rates used to calculate deductible costs of operating vehicles for business purposes. The rate increased by one cent from 53.5 cents in 2017 to 54.5 cents … Continued
On December 22, 2017, the IRS released Notice 2018-06 to extend the due date for employers to furnish 2017 Form 1095-C or 1095-B under the Affordable Care Act’s employer reporting requirement. Employers will have an extra 30 days to prepare and distribute the 2017 form to individuals. The due dates for filing forms with the … Continued
‘Tis the Season’. Like most, you ‘re probably in the midst of the “hussle and bussle” of this holiday season with dinners, parties, and activities; Christmas shopping; and spending those remaining FSA dollars you have allocated this year. Wait, what? Yes, you read right. Chances are, if you’ve opted to utilize an employer-sponsored FSA … Continued
According to the Internal Revenue Service (IRS), no permission or authorization to set up either an FSA or HSA account is required. Both accounts are intended to help provide you with financial assistance regarding medical care costs. An FSA (flexible spending account) is set up by your employer. An HSA (health savings account) is held … Continued
