In response to taxpayer and state government requests, including a 2024 letter from governors of nine states imploring the Internal Revenue Service (IRS) to clarify the federal tax treatment of premiums and benefits under...more
1/30/2025
/ Employee Benefits ,
Employee Contributions ,
Employment Tax ,
Excise Tax ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Paid Family Leave Insurance Program ,
Paid Leave ,
Self-Insurance ,
State Labor Laws ,
Tax Liability ,
Tax Planning ,
Taxable Income
On November 15, 2021, President Joe Biden signed the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) into law. According to the White House, the IIJA will play an important role in rebuilding and improving roads,...more
11/24/2021
/ Anti-Money Laundering ,
Climate Change ,
Construction Industry ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Cybersecurity ,
Davis-Bacon Act ,
Drinking Water ,
Employee Retention ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Environmental Remediation Costs ,
Infrastructure ,
Infrastructure Investment and Jobs Act (IIJA) ,
IRS ,
Joe Biden ,
Labor Shortage ,
Manufacturers ,
Popular ,
Roads ,
Technology Sector ,
Transportation Industry ,
Wage and Hour
In much-anticipated guidance, the Internal Revenue Service has offered its insight on the implementation of the COBRA temporary premium subsidy provisions of the American Rescue Plan Act of 2021 (ARPA) in Notice 2021-31...more
Section 162(m) of the Internal Revenue Code (“Code”), which disallows the deduction by any publicly held corporation with respect to certain compensation paid to a covered employee over $1,000,000, was amended by the 2017 Tax...more
The Internal Revenue Service has issued Notice 2020-65 to provide guidance on the employment tax deferral that is the subject of President Donald Trump’s August 8, 2020, Memorandum on Deferring Payroll Tax Obligations in...more
The IRS issued proposed regulations under Section 4960 of the Internal Revenue Code of 1986, as amended (the “Code”), which was added as part of the Tax Cuts and Jobs Act. The proposed regulations published in the Federal...more
In Notice 2018-99, the Internal Revenue Service sets forth interim guidance for taxpayers to determine parking expenses for qualified transportation fringes (QTFs) that are nondeductible and for tax-exempt organizations to...more
The IRS has released a technical interim guidance on Section 4960, which was added to the Internal Revenue Code of 1986, as amended, as part of the Tax Cuts and Jobs Act. Very generally, Section 4960 imposes an excise tax in...more
In IRS Notice 2018-94, the IRS announced an extension for furnishing 2018 IRS Forms 1095-B (Health Coverage) and 1095-C (Employer-Provided Health Insurance Offer and Coverage), from January 31, 2019, to March 4, 2019. The...more
We recently informed you that the IRS reduced the 2018 health savings account (“HSA”) contribution limit for individuals with family coverage to $6,850.00 despite having previously announced that such limit was $6,900. ...more
In 2017, the IRS released the 2018 inflation-adjusted figures for contributions to Health Savings Accounts (HSAs). The contribution limits for HSAs associated with High Deductible Health Plans was increased to $3,450 for...more
In IRS Notice 2018-06, the IRS announced a 30-day automatic extension for the furnishing of 2017 IRS Forms 1095-B (Health Coverage) and 1095-C (Employer-Provided Health Insurance Offer and Coverage), from January 31, 2018 to...more
The New York State Department of Taxation and Finance (the “Department”) recently provided guidance regarding the taxation of contributions made under, and benefits paid under, New York State’s new paid family leave program...more
In IRS Notice 2016-70, the IRS announced a 30-day automatic extension for the furnishing of 2016 IRS Forms 1095-B (Health Coverage) and 1095-C (Employer-Provided Health Insurance Offer and Coverage), from January 31, 2017 to...more