The COVID-19 pandemic has led to “shelter-at-home” proclamations from state and local governments, causing many nonessential businesses to shut down temporarily. Employers have handled the crisis in varying ways, some by temporarily paying employees to stay home, others by laying off or furloughing workers. In such instances, employers need to be aware of the qualified […]
Have you noticed how much notice issues regarding federal continuation coverage seem to be cropping up everywhere—such as in the news, the courts, and the administrative agencies? Well, the latest matter involves part of the regular evaluation of paperwork requirements conducted by the Internal Revenue Service (IRS).
Once again this year, employers and insurers were given an extra month to comply with the upcoming Affordable Care Act (ACA) requirements to furnish 1095-B and -C reports to individuals.
High-deductible health plans (HDHPs) may cover coronavirus (COVID-19) testing and treatment without jeopardizing participants’ eligibility for a health savings account (HSA), according to March 11 guidance from the Internal Revenue Service (IRS).
Among the many challenges a plan sponsor faces is keeping plan operations current with operational requirements. Some requirements are mandatory for all plans, and others are required as a result of discretionary changes made by an individual employer plan to take advantage of legislative and regulatory changes.
In some recent posts, we’ve been talking about the classification of workers in organizations. In general, it’s pretty clear cut whether a worker is an employee or an independent contractor and the IRS explains some criteria for distinguishing between the two.
The Internal Revenue Service (IRS) has released a draft Form W-4 for use in tax year 2020, which includes significant changes designed to further implement the Tax Cuts and Jobs Act (TCJA) passed in December 2017.
A common criticism of the gig economy is that companies treat those working in it less favorably than traditional employees due to their status as independent contractors.
Practitioners and plan administrators are celebrating the arrival of several helpful revisions in a newly updated Internal Revenue Service (IRS) Employee Plans Compliance Resolution System (EPCRS) Revenue Procedure 2019-19.
The emergence of the gig economy has been a boon for many workers. The gig economy is defined by temporary or freelance jobs, typically with the worker employed as a contractor instead of as a traditional employee, who’d be issued an IRS 1040 form at the end of the year.