Monthly Archives:   January 2018

IRS Extends Deadline to Issue Forms 1095-B and 1095-C to Individuals

On December 22, 2017, the IRS has announced that it will delay the deadline for insurers, self-insuring employers, other coverage providers and applicable large employers to provide 1095-B or 1095-C forms to individuals. Originally this deadline was set for January 31, 2018. However, they have extended the deadline to March...

Short -Term Spending Bill Delays Cadillac Plan Tax and Extends CHIP

On January 22, 2018, Congress approved a short-term spending bill (the “Bill”) that will fund the government until February 8, 2018. The Bill was signed into law the same day. During its annual appropriation exercise, Congress provides funding for the agencies and programs it has authorized. Because Congress failed to...

Federal Tax Calculations Update

On January 11, 2018, the IRS released updated federal withholding tables for 2018, which were put into effect by the passing of the Tax Reforms and Jobs Act of 2017. This new IRS notice mandates employers to put these tables by February 15, 2018 at the latest, but permits adoption any...

New IRS Policy on Reporting Health Coverage

Last month, in a reversal of its previously announced policy on February 15, 2017, the Internal Revenue Service (IRS) stated that beginning in the 2018 tax season, it will not accept tax returns when tax filers have failed to indicate whether or not they had health coverage during the previous...

Final 1094/1095 Filing Information

The IRS recently released final instructions for Forms 1094 and 1095 and extended the deadline. These forms are used by large fully and self-insured employers with 50 or more full-time equivalent employees who are subject to the employer mandate, and small self-insured employers with fewer than 50 full-time equivalent employees...