Employers
The Internal Revenue Service (IRS) has updated its Questions and Answers website in regards to the Employer Mandate, and it appears they have started to send initial notices to employers who are subject to a penalty for the 2015 year (generally, this will be employers with 100 or more employees since transition relief was available in 2015 to employers with 50-99 employees).
- Make the tax code simple, fair and easy to understand.
- Give American workers a pay raise by allowing them to keep more of their paychecks.
- Bring back trillions of dollars that are currently kept offshore to reinvest in the American economy.
The original version of this article was published on January 15, 2016. It has been updated annualy to account for inflationary changes.
IRS Revenue Procedure 2017-58 was released last week. It includes a number of inflation adjustments to various benefits and other items for 2018 including the following for Consumer-Driven Accounts:
- Exempted group health plans offered by churches and houses of worship from providing coverage for contraceptives if there was a religious objection.