IRS

Posted November 2nd, 2022 in Family

The Internal Revenue Service (IRS) recently published Notice 2022-41 in response to the fixes made to the family glitch

Posted October 26th, 2022 in Uncategorized

The Internal Revenue Service (IRS) published Revenue Procedure 2022-38 on October 18, 2022. The Revenue Procedure includes the inflation-adjusted 2023 contribution limits for certain employee benefit programs. Below is a summary of some of those contribution limit adjustments.

Health Flexible Spending Accounts (Health FSAs)

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Posted August 3rd, 2022 in Employers, Producers
Many health and welfare programs offered by employers are subject to non-discrimination testing as identified in the Internal Revenue Code (the“Code”). The non-discrimination tests are designed to ensure that certain groups of employees are not treated more favorably than other groups of employeesin terms of benefits.
 
Posted February 1st, 2022 in Employers, Individuals

The Department of Labor (DOL), Department of Health and Human Services (HHS), and the Internal Revenue Service (IRS) jointly issued guidance on a new requirement that individual and group health plans must cover over-the-counter (OTC) COVID-19 diagnostic tests.

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Posted May 18th, 2021 in Employers, Producers

The Internal Revenue Service (IRS) has recently issued Notice 2021-26 which provides tax guidance for various provisions that have recently changed for Dependent Care Flexible Spending Accounts (DC FSAs), which are sometimes also referred to as Dependent Care Assistance Programs (DCAPs).

Posted April 6th, 2021 in Employers, Producers, Individuals

The Internal Revenue Service (IRS) recently published Announcement 2021-7 which indicates Personal Protective Equipment (PPE), such as masks, hand sanitizer, and sanitizing wipes, may be reimbursed under a Flexible Spending Account (FSA), Health Reimbursement Arrangement (HRA), or a Health Savings Account (HSA).  These expenses are eligible for reimbursement if the primary reason for the purchase is to prevent the spread of COVID-19.

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Posted February 25th, 2021 in Employers, Producers

The Internal Revenue Service (IRS) recently released Notice 2021-15 which supplements legislation that was included in the Consolidated Appropriations Act, 2021 pertaining to new, temporary options employers can implement to their Health and Dependent Care Flexible Spending Accounts (Health FSAs and Dependent Care FSAs).

Posted November 18th, 2020 in Employers, Producers

The Affordable Care Act (ACA) created two reporting requirements which are spelled out in Internal Revenue Code Sections 6055 and 6056.

Section 6055 requires every provider of minimum essential coverage to report information of those employees and dependents who enroll in coverage. Reporting this information to the Internal Revenue Service (IRS) is still required even though the Individual Shared Responsibility penalty (i.e. Individual Mandate) is $0.

Posted October 21st, 2020 in Employers, Producers

President Donald Trump declared a national emergency due to the COVID-19 pandemic earlier this year. The national emergency took effect on March 1, 2020, and it has yet to expire. Following the national emergency declaration came a wave of guidance and regulations, including guidance and regulations which impacted deadlines associated with employee benefit programs.

Posted October 15th, 2020 in Employers, Producers

The Internal Revenue Service (IRS) recently issued Notice 2020-76 with information pertaining to the upcoming reporting required by the Affordable Care Act (ACA).

The following information was included in the notice:

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