On Monday, the IRS announced an extension to the due dates for 1094 and 1095 forms:
The deadline to provide employees with 1095-B & 1095-C Forms has been extended from January 31, 2016 to March 31, 2016.
The deadline to file paper 1094-B, 1094-C, 1095-B & 1095-C forms has been extended from February 29, 2016 to May 31, 2016.
The deadline to e-File electronic 1094-B, 1094-C, 1095-B &... Read more »
As you may have heard, yesterday President Obama signed into law an omnibus spending appropriations bill, and contained in this were several significant changes to the “Cadillac Tax” section of the Affordable Care Act. Here are the highlights:
The effective date of the Cadillac Tax has been delayed until January 1, 2020
Any excise tax levied will now be fully tax deductible for employers
The... Read more »
The IRS has announced several inflation adjustments that affect tax-related items for employers and employees. Items that may be of particular interest for tax year 2016 include:
Limit on Health Flexible Spending Arrangement (FSA) Contributions. The annual dollar limit on employee contributions to employer-sponsored health FSAs remains unchanged at $2,550.
Small Business Health Care Tax Credit. The... Read more »