By Peter Marathas, ProSential Compliance on 1/20/2016

On December 18, 2015, the President signed the Consolidated Appropriations Act, 2016 (CAA), which, among other changes to the Internal Revenue Code, permanently and retroactively restores parity by equalizing the limits for pre-tax parking and commuter benefits.

By Peter Marathas, ProSential Compliance on 1/19/2016
On December 16, 2015, the IRS released Notice 2015-87, which contains guidance on a broad range of topics under the Affordable Care Act (“ACA”), including:
By Peter Marathas, ProSential Compliance on 1/11/2016

“I’m just a bill, yes I’m only a bill, and I’m sitting here on Capitol Hill…”

A generation of Americans first learned of the legislative process from the 1976 “Schoolhouse Rock” cartoon segment called “I’m Just a Bill.” In the song, “Bill”—a fictitious bill proposed in Congress—starts as an idea by “some folks back home.” A Congressman hears the call and brings Bill to Washington, where he first sits in committee and then is passed by the House of Representatives and then by the Senate. If Bill is lucky enough to get signed by the President, he becomes law. Bill reminds us near the end of the song that “it’s not easy to become law.” That’s true. But the sequel to “I’m Just a Bill” might focus on the desire of some federal regulators to rewrite the laws after the process described in “I’m Just a Bill” is completed.

By Peter Marathas, ProSential Compliance on 12/29/2015

On Monday, December 28th the Internal Revenue Service (IRS) announced it was delaying the 2016 Affordable Care Act reporting requirements. In Notice 2016-4 the IRS announced that the deadline for providing to individuals the 2015 Form 1095-B and Form 1095-C is delayed from February 1, 2016 to March 31, 2016

By Peter Marathas, ProSential Compliance on 12/18/2015

On Friday, December 18, the Senate voted to approve the Protecting Americans From Tax Hikes Act of 2015, which delays for two years the Affordable Care Act’s (ACA) excise tax on high cost employer-sponsored health coverage (the “Cadillac tax”). The bill also places a two-year moratorium on the ACA’s medical device tax and a one-year moratorium on the ACA’s annual fee on health insurers.

By Christopher Brown, ProSential Group on 6/15/2015 10:15 AM
An important compliance deadline is quickly approaching. For companies that terminated their group health plan and enrolled their employees in individual policies, the IRS has made it clear that employers could not directly pay employee’s individual premiums or reimburse employees for their individual premiums. The IRS considers such an arrangement to be an Employer Payment Plan and will begin imposing substantial fines for such an arrangement beginning July 1st. To avoid such fines, a company can provide any remuneration to their employees upon plan termination, if done so in the form of a fixed taxable healthcare stipend that is not predicated on the purchase of health insurance.
By Christopher Brown, ProSential Group on 5/27/2015 11:45 AM
True Oil, LLC and its associated companies are at the center of an EEOC lawsuit claiming pay discrimination under the Equal Pay Act of 1963. The lawsuit claims that True Oil and 9 of its sister companies are liable for gender discrimination because men were paid more for the same work as women in the firms’ common accounting department.

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