Yesterday (December 19, 2019), Congress finally passed the Setting Every Community Up for Retirement Enhancement Act (i.e., the “SECURE Act”), and President Trump is expected to sign it. The SECURE Act was previously passed by the U.S. House of Representatives […]
The Internal Revenue Service (“IRS”) has just released the Final Forms and Instructions for 2019 information reporting by employers and other entities under Internal Revenue Code sections 6055 and 6056. The links to the Final Forms and Instructions are below: […]
Statements to Individuals The Internal Revenue Service (“IRS”) has extended the deadline for 2019 Information Reporting by employers (and other entities) to individuals under Internal Revenue Code sections 6055 and 6056 by just over a month. However, the deadline for […]
The IRS has just released its 2020 annual inflation adjustments, in which it announced that the dollar limitation under Code section 125 on voluntary employee salary reductions for contribution to health flexible spending arrangements (health FSAs) is increasing to $2,750. […]
Pursuant to a 2018 Executive Order, the Department of Labor released proposed regulations this week which would expand an employer’s ability to provide ERISA disclosures electronically. These rules do not replace existing guidance, but instead add an additional safe harbor […]
Government has Issued the 2020 Adjustments for ACA’s OOP Limits, Penalty Amounts, and Affordability HHS Announces OOP Limitations for 2020 With the passage of the Affordable Care Act (ACA), group health plans became required to apply an out-of-pocket limitation to […]
Medicare Part D notices (of either creditable or non-creditable coverage) are due for distribution prior to October 15th. Medicare Prescription Drug, Improvement, and Modernization Act of 2003 requires entities who offer prescription drug coverage to notify Medicare Part D eligible […]
The IRS has released its 2020 annual inflation adjustments for Health Savings Accounts (HSAs) as determined under Section 223 of the Internal Revenue Code. Specifically, IRS Revenue Procedure 2019-25 provides the adjusted limits for contributions to a Health Savings Account […]
Patient-Centered Outcomes Research Institute (PCORI) Fee/Comparative Effectiveness Fee Reminder: Plan Sponsors of Applicable Self-Funded Health Plans Must Make PCORI Fee Payment By July 31, 2019. Please let this serve as a reminder that the PCORI fee is due by July […]
Fraser Trebilcock attorney Brian T. Gallagher will be presenting on multiple panels next week at the American Bar Association Tax Section’s May Meeting in Washington, D.C. Brian’s presentations will focus on various aspects of the new excise tax imposed on […]