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Archive for the “News Updates” Category

HIGHLIGHTS

The IRS recently announced cost-of-living adjustments to the annual dollar limits for employee benefit plans.
Many of these limits will increase for 2018.
In 2018, employees may contribute more money to their HSAs, health FSAs and 401(k) accounts.

OVERVIEW
Many employee benefits are subject to annual dollar limits that are periodically …

IMPORTANT DATES
Oct. 19, 2017
The IRS announced the health FSA dollar limit for 2018.
Tax Years Beginning in 2018
The $2,650 dollar limit on employee salary reduction contributions to health FSAs applies for these years.

The Affordable Care Act (ACA) imposes a dollar limit on employees’ salary reduction contributions to health flexible spending …

IMPORTANT DATES
October 13, 2017
The IRS reversed its policy on accepting returns that do not include health coverage information.
April 15, 2018
Individual tax returns for the 2017 tax year are due.

OVERVIEW
On Oct. 13, 2017, the Internal Revenue Service (IRS) reversed a recent policy change in how it monitors compliance with …

Changes for 2018

Certain percentages and dollar amounts have changed for 2018:

Cost-sharing limits
Coverage affordability percentages
Maximum penalties for ACA reporting violations

Expected Changes for 2018
Other updated amounts have not yet been announced, but may change for 2018, including:

Health flexible spending account (FSA) salary contribution limits
Dollar amounts …

IMPORTANT DATES

December 11, 2017
The order gives agencies 60 days to draft regulations to implement the changes related to MEWAs and short-term insurance.
February 9, 2018
The order gives agencies 120 days to draft regulations to implement changes related to HRAs.

OVERVIEW
On Oct. 12, 2017, President Donald Trump signed an executive …

IMPORTANT DATES
October 6, 2017
The Departments issued regulations expanding exemptions from the contraceptive coverage mandate.
The regulations took effect immediately, which means that the expanded exemptions are currently available.
 

OVERVIEW
On Oct. 6, 2017, the Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) issued two interim …

IMPORTANT DATES
September 20, 2017
The U.S. Court of Appeals for the 7th Circuit ruled that extended leave is not required under the ADA.
 
 

OVERVIEW
The U.S. Court of Appeals for the 7th Circuit has ruled that the Americans with Disabilities Act (ADA) does not require employers to provide long-term leave …

IMPORTANT DATES
January 31, 2018

Individual statements for 2017 must be furnished by Jan. 31, 2018.
February 28, 2018
IRS returns for 2017 must be filed by Feb. 28, 2018 (April 2, 2018, if filed electronically, since March 31, 2018, is a Sunday).

OVERVIEW
On Sept. 28, 2017, the Internal Revenue Service (IRS) …

IMPORTANT DATES
April 14, 2017
The IRS issued letters clarifying the executive order’s impact on the ACA’s employer mandate.
June 20, 2017
The IRS issued a letter clarifying the executive order’s impact on the ACA’s individual mandate.

 
OVERVIEW
The Internal Revenue Service (IRS) Office of Chief Counsel has recently issued several …

IMPORTANT DATES

January 31, 2018
Individual statements for 2017 must be furnished by Jan. 31, 2018.
February 28, 2018
IRS returns for 2017 must be filed by Feb. 28, 2018 (April 2, 2018, if filed electronically, since March 31, 2018, is a Sunday).

On July 28, 2017, the Internal Revenue Service (IRS) released …

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