Sixth Circuit upholds DISC dividends paid to Roth IRAs
Form prevails over substance despite dividends' exceeding contribution limits.
Employee benefits
Proposed PPACA replacement bills contain many tax changes
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.
Congress authorizes new small business HRAs
Popular employer arrangements to reimburse medical expenses had been penalized by the Affordable Care Act.
Congress enacts law allowing HRAs under 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.
Defined benefit plan participants can receive lump sum and annuity under new rules
Bifurcation offers a hedge against outliving retirement benefits.
IRS extends due dates for PPACA forms and penalty relief
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.
IRS allows self-certification for late rollovers of retirement plan funds
A new procedure for claiming a waiver of the 60-day deadline enables an account trustee to accept the rollover.
Tax help for working parents
Federal and state credits and employer-provided care may help reduce the high cost of child care.
2017 pension contribution limits announced
While many limits remained the same as 2016, some were raised to reflect cost-of-living increases.
Defined benefit plan participants can receive lump sum and annuity under new rules
The IRS issued new rules giving retirement plan participants greater flexibility in choosing how to receive their pension benefits.
IRS allows self-certification for late rollovers of retirement plan funds
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.
Final regulations ease allocations of rollover distributions from designated Roth accounts
The separate distribution rule no longer applies.
Final regulations change allocation rules for Roth IRA rollovers
The regulations allow taxpayers to allocate pretax amounts to direct rollovers, rather than having to make pro rata allocations.
IRS releases 2017 health savings account limits
The IRS issued the inflation-adjusted figures for calendar year 2017 for the annual contribution limits for health savings accounts.
What CPAs need to know about new PPACA forms
This filing season, certain employers, as well as providers of minimum essential coverage, will have to meet significant information-reporting requirements.
How employers should handle retroactive reinstatement of transit benefits parity
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.
IRS extends health care information return due dates
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.
No FICA refund after employer’s bankruptcy
Determining the present value of nonqualified deferred compensation need not consider the employer's financial condition.
Employer health care information-reporting requirements start soon
Large employers face a strict reporting regime under health care reform.
IRS issues 2016 pension contribution limits
Because of low inflation this year, many limits remain unchanged, but some are increasing.
