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.
Transition relief continues through 2015 for S corporation 2% shareholder-employees, but stand-alone health reimbursement arrangements and employer payment plans can be subject to penalties.
The IRS issued the inflation-adjusted figures for calendar year 2016 for the annual contribution limits for health savings accounts and the minimum deductible amounts and maximum out-of-pocket expense amounts for high-deductible health plans.
The IRS announced that it would amend its regulations under Sec. 401(a)(9) to provide that qualified defined benefit plans cannot replace any joint and survivor, single life, or other annuity currently being paid, with a lump-sum payment or other accelerated distribution.
The IRS released regulations and a revenue procedure containing guidance for sponsors of multiemployer plans that have insufficient funds to pay benefits, to apply for approval of a suspension of benefits.
The inflation-adjusted amounts include the annual contribution limitation, the minimum deductible amounts and maximum out-of-pocket expense amounts for high-deductible health plans.
The existence of Children’s Health Insurance buy-in programs that qualify as minimum essential coverage will not make taxpayers ineligible for the premium tax credit except in periods when they are actually enrolled in the program.
The IRS issued guidance under the Patient Protection and Affordable Care Act on how to measure the lookback period for an employee under the lookback measurement method when the measurement period applicable to the employee changes.
The Internal Revenue Code provides an exception for certain performance-based compensation from the $1 million deduction limitation for compensation paid to covered employees by publicly held corporations.
The government issued final rules explaining the requirements that must be met before so-called wraparound health care benefits are permitted under the health care law.
Understand the rules for this leading form of retirement benefit.
The Affordable Care Act will impose a 40% excise tax on health care plans that provide excess benefits (so-called Cadillac health plans) starting in 2018. To prepare for its implementation, the IRS is asking taxpayers to comment on proposed rules.
The IRS said that small employers will not be subject to the Sec. 4980D excise tax for health insurance employer payment plans that do not comply with the market reforms required under the health care law.
The IRS announced that it will develop regulations that would permit a state or local retirement system that qualifies as a governmental plan to cover employees of charter schools.
As part of the Tax Increase Prevention Act of 2014, Congress retroactively reinstated the parity between transportation benefits for parking and for transit passes and vanpools to the beginning of 2014.
Disbursements containing both pretax and after-tax contributions may be treated as a single distribution.
Final regulations drop requirement of an additional premium or contribution and address employee-assistance programs.
The IRS issued final regulations and other guidance on how to determine whether taxpayers have minimum essential health care coverage and listing hardship exemptions for purposes of the individual mandate.
The Internal Revenue Service issued new rules on the tax treatment of smart cards and debit cards used to purchase transportation for employees.