If your plan is not administered correctly and in compliance with the regulations, you risk losing the plan all together. Is it time to review your TPA’s substantiation process? YES!! While the IRS has issued guidance, FAQ’s, information letters and the like on substantiation requirements, some TPA’s simply ignore or deem them insignificant.
Your PCORI fee is due by July 31, 2018 On October 5, 2017 the Internal Revenue Service issued Notice 2017-61 increasing the PCORI fee from $2.26 to $2.39 effective for plan years ending on or after October 1, 2017 and before October 1, 2018.
Final 2017 IRS Forms 1094-C and 1095-C released The IRS issued final 2017 ACA Reporting forms 1094-C Employer Transmittal and 1095-C Offer of Coverage. Final instructions were released October 4th and there were no substantive changes.
Subject: Individual Tax Returns Healthcare coverage on your taxes? Now optional! The health law’s individual mandate requires everyone to either maintain qualifying health coverage or pay a tax penalty, known as a “shared responsibility payment.” The IRS was set to require filers to indicate whether they had maintained coverage in 2016 or paid the penalty by […]
Lisa Allen, CHRS, CFC, CAS VP Regulatory Affairs is one of only seven from across the nation, newly appointed as members to serve a three-year term on the IRS Information Reporting Program Advisory Committee (IRPAC). IRPAC, which meets regularly in Washington, is a federal advisory committee that advises the IRS on various tax administration and […]
IRS Provides a 30-Day Extension for Furnishing Forms 1095
2017 PCORI Fee Submission
Subject: Notice 2016-87 & TINs Date: August 30, 2016