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Extended Deadlines for 2020 ACA Forms

The IRS recently announced limited relief from some of the 2020 ACA reporting requirements (IRC Sections 6055 and 6056). Specifically, the relief has to do with the 1095-B and 1095-C forms, which relate to reporting individuals’ coverage. Here are the changes employers need to note:First, the..

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Legislative Brief: Cadillac Tax and Other Key ACA Taxes Repealed

On Dec. 20, 2019, President Trump signed into law a spending bill that prevents a government shutdown and repeals the following three taxes and fees under the Affordable Care Act (ACA):

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Final Forms for 2019 ACA Reporting Released

On Dec. 9, 2019, the Internal Revenue Service (IRS) released final 2019 forms and instructions for reporting under Internal Revenue Code (Code) Sections 6055 and 6056.

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Legislative Brief: Affordability Percentages Will Increase for 2019

On May 21, 2018, the Internal Revenue Service (IRS) issued Revenue Procedure 2018-34 to index the contribution percentages in 2019 for purposes of determining affordability of an employer’s plan under the Affordable Care Act (ACA). For plan years beginning in 2019, employer-sponsored coverage..

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Legislative Brief: Employee Benefit Changes in the Tax Cuts and Jobs Act of 2017

 

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (H.R. 1) (the “Bill”).  The House and Senate Conference Committee provided a Policy Highlights of the major provisions of the Bill, and the Joint Committee on Taxation provided a lengthy explanation of the Bill.

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Legislative Brief: House and Senate Pass Tax Reform Bill

On Dec. 20, 2017, the tax reform bill, called the Tax Cuts and Jobs Act, passed both the U.S. Senate and the U.S. House of Representatives. The bill is now expected to be signed into law by President Trump shortly.

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