Currentfederaltaxdevelopments.com

IRS and Department of Labor Issue Relief Related to Employee …

COBRA timeframes impacted by this guidance are described as follows: The COBRA continuation coverage provisions generally provide a qualifiedSee more

Actived: 6 days ago

URL: https://www.currentfederaltaxdevelopments.com/blog/2020/4/30/irs-and-department-of-labor-issue-relief-related-to-employee-benefit-plans-for-timeframes-due-to-covid-18-emergency

HDHP and HSA Inflation Adjusted Numbers Released for 2021

WebThere actually are tax developments other than COVID-19 issues. The first set of inflation adjusted numbers have arrived for 2021. The inflation adjusted numbers …

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Purchase of COVID-19 Personal Protective Equipment Treated as

WebIn Announcement 2021-7, the IRS has broadened the definition of amounts paid for medical care to include amounts paid for personal protective equipment (PPE). …

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IRS Reverses Course, Qualifying Employers Paying Only Health …

WebFollowing a letter written by Senator Chuck Grassley (R-IA, Chair Senate Finance Committee), Rep. Richard Neal (D-MA, Chair House Ways & Means …

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Temporary Relief Offered From Penalties Under §4980D for Health

WebThe continuing saga of employer reimbursement of individual health plans took another turn in IRS Notice 2015-17 which provides relief to taxpayers with …

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Self Employed Health Insurance Deduction Available to Family …

WebIn Chief Counsel Advice 201912001 the IRS held that family members, who while not directly holding shares in an S corporation, are deemed to be 2% shareholders …

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Employee May Not Receive Refund of Unused Dependent Care …

WebWhile the IRS published relief that sponsors could give to participants in their cafeteria plans in Notice 2020-29 for 2020 plan years, and the Congress provided …

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IRS Announces End of COVID-19 Expansion of Definition of …

WebThe Internal Revenue Service (IRS) has issued Notice 2023-37, declaring the cessation of unique provisions enabling high deductible health plans (HDHP) to extend …

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2020-05-11 One More Week to Return Funds And You Get ERC — …

WebThis week we look at: IRS changes its guidance on the payment of health insurance only and qualification for the Employee Retention Credit Borrowers can repay …

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IRS Releases 2024 Inflation Adjusted Numbers for HSAs and …

WebIn Revenue Procedure 2023-23, the IRS disclosed the 2024 inflation-adjusted figures for both Health Savings Accounts (HSAs) and excepted-benefit Health …

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Letters Explain Maximum HSA Contributions for Year Taxpayer …

WebContributions can no longer be made by individuals who are otherwise eligible to contribute to Health Savings Accounts beginning with the first month the …

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Additional Contributions to ABLE Account Rules from TCJA …

WebThe released Notice 2018-62 that describes regulations the IRS plans to issue to clarify the rules on increased contribution limits to ABLE accounts enacted as part of …

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Direct Primary Care Arrangements

WebThe IRS has issued proposed regulations that would revise Reg. §1.213-1 to allow medical deductions in certain cases for payments for direct primary care …

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Medical Deduction Allowed for Treatments Not Generally …

WebThe fact that a medical treatment may not be recognized as a proper treatment by medical authorities does not mean that federal tax law will deny the …

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Male Sterilization/Contraception Coverage Not Covered by …

WebThe IRS issued guidance that may put at risk the ability of individuals in certain states to participate in health savings accounts (HSAs) beginning in 2020 in …

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Ways and Means Committee to Begin Mark Up of American …

WebAdded March 11 - Link to Ways and Means Copy of the Bill . The House Ways and Means Committee has released the markup version of the American Health Care …

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IRS Releases 2024 ACA Premium Credit Percentages

WebThe IRS has published the cost-of-living adjustments for the 2024 premium tax credit in Revenue Procedure 2023-29. While the applicable percentage table remains …

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IRS Outlines When Amounts Paid to Reimburse Employee for …

WebIn Chief Counsel Advice 201547006 the IRS discusses the condition under which an employer can exclude an amount from an employee’s income for payments …

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IRS Issues Chief Counsel Advice on Substantiation Rules for …

WebIn Chief Counsel Advice (CCA) 202317020, the IRS examines the consequences of specific reimbursement policies adopted as part of an IRC §125 …

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Educational Institutions Given Temporary Relief from Application …

WebAnother unexpected consequence of the IRS’s interpretation of the interaction of the market reform rules and reimbursement of individual policies in Notice 2013-54 , …

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Laboratory Found Not to Be Health Service Business For §1202 …

WebThe exclusion for gain from the sale of qualified §1202 stock now is at 100% for stock acquired after September 27, 2010 so long as the taxpayer holds it for five …

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AICPA Raises Questions About IRS Informal §199A Guidance

WebThe AICPA Tax Executive Committee wrote the IRS seeking clarification regarding the informal guidance on IRC §199A issues found in the IRS’s frequently …

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