News & Analysis as of

Internal Revenue Service Healthcare Income Taxes

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
McNees Wallace & Nurick LLC

Did you know? IRS Form 1095-C

Did you know that you do not need to mail Form 1095-Cs if a notice is posted by March 3, 2025? At the end of last year, a new law was enacted that would allow employers to provide Form 1095-C only if requested, so long as the...more

Lowndes

Good News: IRS Grants $1.2 Billion in Penalty Relief for Taxpayers Impacted by Covid-19

Lowndes on

The senior living industry was hit hard by the Covid-19, and the IRS recently announced relief for people or businesses who filed their 2019 or 2020 tax returns late as a result. If your business was subject to failure to...more

Proskauer - Employee Benefits & Executive...

New IRS Guidance on 40% Excise Tax Previews Future Regulatory Complexity

Although public opposition to the 40% excise tax on high-cost health care is rapidly growing, the IRS continued to develop a regulatory framework for administration of the excise tax through its issuance of Notice 2015-52 on...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New IRS Guidance May Require Amendments to Section 125 (“Cafeteria”) Plans

Many employers permit employees to pay for employer-sponsored health coverage, on a pre-tax basis, under Internal Revenue Code section 125 (“cafeteria”) plans. These plans generally require employees to make an irrevocable...more

Chambliss, Bahner & Stophel, P.C.

IRS Now Allows Caregiver Parents to Exclude Medicaid Waiver Payments From Income

The Internal Revenue Service has reversed a long-standing policy and agreed to allow parents of people with disabilities who receive Medicaid waiver funds in return for caregiving services provided to their children to...more

McDermott Will & Emery

New Publications 502 and 503 Released by IRS

The Internal Revenue Service has recently released the latest versions of its Publications 502 and 503. Publication 502 is a list of medical and dental expenses (including the Health Coverage Tax Credit) that are deductible...more

Goodwin

IRS Releases FAQs on Cafeteria Plan Benefits for Same-Sex Spouses Post-DOMA

Goodwin on

The Internal Revenue Service has released a series of FAQs to answer several outstanding questions following the U.S. Supreme Court’s ruling in Windsor, which struck down Section 3 of the Defense of Marriage Act. The most...more

Cozen O'Connor

Brindisi Tax Academy -- 2013 Year-End Tax Update

Cozen O'Connor on

I. A Look Back At 2013 Tax Matters, “Gangnam Style” - A. Some Random Observations. - 1. When we penned last year’s Update for you, dear reader, this fair country of ours stood six feet from the edge of the “...more

King & Spalding

IRS Proposes Rules Regarding Information Reporting Requirements Under Sections 6055 and 6056 of the Affordable Care Act

King & Spalding on

Starting in 2014, the Affordable Care Act requires that nonexempt individuals either maintain “minimum essential coverage” or pay an individual payment with their income tax returns. Minimum essential coverage may be...more

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