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IRS ALERT: BEWARE OF COMPANIES MISREPRESENTING …

WebAmid concerns about people being misled, the Internal Revenue Service is reminding taxpayers and heath spending plan administrators that personal expenses for general health and wellness are not considered medical expenses under the tax law.

Actived: 5 days ago

URL: https://www.nstp.org/article/irs-alert-beware-of-companies-misrepresenting-nutrition-wellness-and-general-health-expenses-as-medical-care-for-fsas-hsas-hras-and-msas

IRS ADDRESSES QUESTIONS ABOUT MEDICAL EXPENSES RELATED …

WebThe IRS posted frequently asked questions (FAQs) that address whether certain costs related to nutrition, wellness and general health are medical expenses that may be paid or reimbursed under a health savings account (HSA), health flexible spending arrangement (FSA), Archer medical savings account (Archer MSA) or health …

Category:  Nutrition,  Medical Go Health

Expanded FMLA and Sick Leave Guidance from US Dept of Labor

WebThe U.S. Department of Labor’s Wage and Hour Division (WHD) announced its first round of published guidance to provide information to employees and employers about how each will be able to take advantage of the protections and relief offered by the Families First Coronavirus Response Act (FFCRA) when it takes effect on April 1, 2020. …

Category:  Coronavirus Go Health

TAXPAYERS CAN NOW UPLOAD MORE DOCUMENTS TO IRS:

WebTaxpayers who receive certain notices requiring them to send information to the IRS now have the option of submitting their documentation online through IRS.gov.

Category:  Health Go Health

Section 125 Cafeteria Plans Allow for Greater Flexibility NSTP

WebGuidance has been published by the IRS to allow for temporary changes to Section 125 cafeteria plans. These changes extend the claims period for health flexible spending arrangements (FSAs) and dependent care assistance programs and allow taxpayers to make mid-year changes.

Category:  Health Go Health

ABLE ACCOUNTS CAN HELP PEOPLE WITH DISABILITIES PAY FOR …

WebPeople with disabilities can use an Achieving a Better Life Experience or ABLE account to help pay qualified disability-related expenses. This tax-advantaged savings account does not affect their eligibility for government assistance programs. Here are some key things to know about these accounts:

Category:  Health Go Health

CHANGES TO COVID-19 COVERAGE: NSTP

WebThe IRS, Department of Labor and Department of Health and Human Services have jointly issued frequently asked questions to clarify how the COVID-19 coverage and payment requirements under the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief and Economic Security Act (CARES Act) will …

Category:  Coronavirus Go Health

EDUCATOR EXPENSE DEDUCTION INCREASES TO $300 IN 2022

WebTeachers and other educators planning ahead for 2022 can deduct up to $300 of out-of-pocket classroom expenses when they file their federal income tax return in 2023. This is the first time the annual limit has increased since the special educator expense deduction was enacted in 2002. For tax-years 2002 through 2021, the limit was $250 per …

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INFLATION REDUCTION ACT OF 2022 (H.R. 5376):

WebINFLATION REDUCTION ACT OF 2022 (H.R. 5376): The Senate voted 51-50 to pass a budget reconciliation bill that includes a new corporate book tax, an excise tax on stock buybacks, and $80 billion in new funding for the IRS. The House is scheduled to return on August 9 to consider the bill. It is expected to pass the House and be signed by the

Category:  Health Go Health

CALIFORNIA IS CONFORMING WITH IRS DISASTER RELIEF:

WebCalifornia residents in 51 counties now have until October 16, 2023 to file various federal and California individual and business tax returns and make tax payments. For reference, here is the announcement from the California Franchise Tax Board notifying taxpayers it will conform to most federal relief:

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SOCIAL SECURITY ADMINISTRATION EXPEDITES DECISIONS FOR …

WebAgency Adds to its Compassionate Allowances List. The Compassionate Allowances program quickly identifies claims where the applicant’s medical condition or disease clearly meets Social Security’s statutory standard for disability.

Category:  Medical Go Health

The CARES Act Part III

WebWhile all the chatter is about the stimulus payments and the loan programs available for the small business owner there were also many tax provisions that were included in the CARES Act:

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New DOL Rules Are Impacting Paid Leave Especially In …

WebThe employee has been advised by a health care provider to self-quarantine due to concerns related to COVID-19. The employee is experiencing COVID-19 symptoms and seeking a medical diagnosis. The employee is caring for another individual who is either subject to a Federal, state, or local quarantine or isolation order

Category:  Medical Go Health

The Consolidated Appropriations Act, 2021, H.R. 133, passed

WebPage 3 of 7 Payroll tax credits: The bill extends the refundable payroll tax credits for paid sick and family leave, enacted in the Families First Coronavirus Response Act, P.L. 116-127, through the end of March 2021. It also modifies the payroll tax credits so that they apply as if the corresponding

Category:  Coronavirus Go Health

Injured Spouse Stimulus Payment NSTP

WebOn Friday, May 8, the IRS posted Economic Impact Payment FAQ #31 acknowledging that it was aware of the problem that many couples have encountered with the EIP payments. The FAQ indicates that the IRS is working to fix the problem and taxpayers do not need to do anything to cause the IRS to fix their problem.

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WHEN WILL THE IRS START ACCEPTING 2023 TAX RETURNS …

WebTaxpayers who mail a paper version of their income tax return can expect at least a 3–4 week delay at the front-end of the process, as the return has to be manually entered into the IRS system before it can be processed. IRS may start accepting income tax returns as early as Jan. 23, 2023 (again, this is just a guess at this time).

Category:  Health Go Health

INDIVIDUAL TAX CONSIDERATION FOR 2021 A

Web2 WINTER 2021 TAX NEWS INDIVIDUAL TAX CONSIDERATION FOR 2021 CONTINUED FROM PAGE 1 l interest statement from the financial If you received unemployment in 2021 be sure to go onto your state website to download the Form 1099-G.

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