Employee Benefits


The Institute endorsed the SIMPLE Cafeteria Plan Act of 2005 (S. 723), a bill that would allow small businesses to provide nontaxable benefits, such as flexible spending accounts, to their employees ( http://thomas.loc.gov ) as large companies and government agencies now do. In addition, the proposed legislation would allow cafeteria plans, which permit employees to customize their benefits, to offer long-term-care insurance, and it would simplify and expand dependent care accounts. Introduced by Sen. Olympia J. Snowe (R-Maine), the bipartisan bill was co-sponsored by Sens. Jeff Bingaman (D-N.M.) and Christopher S. Bond (R-Mo.).

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.