Lawmakers Push for Enhanced Paid Family and Medical Leave Credit
A recently introduced bipartisan House bill (HR 8860) would extend and enhance a tax credit under Code Sec. 45S available to employers …
Retirement Expert: SECURE 2.0’s Impact on RMD Penalty Tax Collection Is TBD
The SECURE 2.0 Act, included in the year-end omnibus bill approved by Congress (Consolidated Appropriations Act, 2023), features 100 retirement provisions that …
Inflation Bill Would Cut Deficits By $102 Bln, CBO Estimates
The Inflation Reduction Act of 2022 (H.R. 5376) would cut federal spending by $14.5 billion and raise $87 billion in revenue, reducing …
Schumer Hopes to Hold Weekend Vote on Inflation Reduction Act
The Senate is on track for a weekend vote on the Inflation Reduction Act (H.R. 5376), the massive tax, health care, …
FAQs for Aliens Claiming Medical Condition Exceptions or Travel Exceptions to Substantial Presence Test
IRS has issued FAQs for nonresident aliens who wish to avail themselves of the Medical Condition Exception or the Medical …
New guidance for employers that over-collect additional Medicare tax
The Spring issue of the Social Security Administration/Internal Revenue Service (SSA/IRS) Reporter gives pointers to employers that over-collect the 0.9% …
Healthcare Company Debt Presentation Rules in for Change Under New Revenue Rules
As the clock ticks toward public companies’ 2018 compliance date with the FASB’s sweeping new revenue rules, the board is …
IRS won’t reject returns that are silent regarding compliance with ACA individual mandate
On its website and in a statement, IRS has announced that it will not reject returns for tax year 2016 …
IRS 2016 Final Forms 1094-C and 1095-C (and Instructions) and Publications 5164 and 5165
2016 Form 1094-C; 2016 Form 1095-C; 2016 Instructions for Forms 1094-C and 1095-C; Publication 5164 (Test Package for Electronic Filers …
IRS letters ask some taxpayers to send their health care Form 1095-A
IRS has begun sending letters to certain taxpayers that claimed the premium tax credit on their 2014 tax return and …