In mid-January, the IRS issued final regulations that clarify the application of employer shared responsibility provisions under the Affordable Care Act (ACA), as well as nondiscrimination rules, to Health Reimbursement
In response to the COVID-19 crisis, the IRS recently issued Notice 2020-52. It offers sponsors of safe harbor 401(k) plans with temporary relief from certain requirements applicable to midyear reductions
The IRS recently announced special tax relief for leave-based donation programs set up by employers to aid those directly affected by the COVID-19 pandemic. Under such programs, an employer can
Non-profit organizations can lose their tax-exempt status in a variety of ways — including participating in lobbying and campaign activities, receiving excessive unrelated business income, and allowing board members to
Under IRS regulations regarding electronic consents and elections, if a signature must be witnessed by a retirement plan representative or notary public, it must be witnessed ‘in the physical presence’
The IRS recently released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA Basics An HSA is a trust created or organized exclusively for the purpose of paying the
In the midst of the coronavirus (COVID-19) pandemic, Americans are focusing on their health and financial well-being. To help with the impact facing many people, the government has provided a
In response to the on-going Coronavirus (COVID-19) pandemic, the President issued an emergency declaration to provide relief from the April 15 tax deadline; the Secretary of Treasury has determined that
The U.S. Treasury Secretary, Steven Mnuchin, announced today that federal income tax returns will now be due July 15, 2020 – matching the deferred payment due date. This measure is
The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with prior years. However, even though a small percentage
