The draft proposals to repeal the Affordable Care Act released by House Republicans would make many tax changes if enacted. Here’s a look at their impact on the tax code.
Popular employer arrangements to reimburse medical expenses had been penalized by the Affordable Care Act.
The Senate passed the 21st Century Cures Act, which, among other things, permits certain employers to offer health reimbursement arrangements to employees without running afoul of the Patient Protection and Affordable Care Act’s market reform provisions.
Bifurcation offers a hedge against outliving retirement benefits.
In response to concerns from employers, insurers, and other providers of minimum essential coverage, the IRS announced that it is extending the due dates for certain health care forms required under the Patient Protection and Affordable Care Act.
A new procedure for claiming a waiver of the 60-day deadline enables an account trustee to accept the rollover.
Federal and state credits and employer-provided care may help reduce the high cost of child care.
While many limits remained the same as 2016, some were raised to reflect cost-of-living increases.
The IRS issued new rules giving retirement plan participants greater flexibility in choosing how to receive their pension benefits.
The IRS issued a procedure permitting taxpayers, in certain circumstances, to give an IRA trustee or retirement plan administrator a certification statement to treat a rollover as timely even if the taxpayer failed to complete the rollover within 60 days after a distribution.
The separate distribution rule no longer applies.
The regulations allow taxpayers to allocate pretax amounts to direct rollovers, rather than having to make pro rata allocations.
The IRS issued the inflation-adjusted figures for calendar year 2017 for the annual contribution limits for health savings accounts.
This filing season, certain employers, as well as providers of minimum essential coverage, will have to meet significant information-reporting requirements.
The IRS issued procedures for employers to use to handle the retroactive application of the increased amount of the 2015 income exclusion for monthly transit benefits.
In response to concerns by employers and insurers about meeting the current due dates for information returns required under the health care law, the IRS delayed the due dates for these returns for the upcoming filing season.
Determining the present value of nonqualified deferred compensation need not consider the employer's financial condition.
Large employers face a strict reporting regime under health care reform.
Because of low inflation this year, many limits remain unchanged, but some are increasing.
The IRS added a requirement that employer-sponsored health plan benefits must include substantial coverage of inpatient hospital and physician services for the plan to count as providing minimum value.