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The following articles were posted in 2018.

IRS Releases ACA Penalty Letters for 2016 Plan Year

The employer mandate penalty notices for 2016 have been mailed the week of November 12, 2018. Better known as Letter 226-J, these notices inform employers of a preliminary penalty under IRC Section 4980H. In late 2017, the IRS began mailing notices for 2015 – with a reported 30,000 applicable large employers receiving Letter 226-J.

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Posted on November 14, 2018 by Gary B. Kushner, SPHR, CBP, President and CEO

Student Loan Repayments and 401(k) Match

In a Private Letter Ruling (PLR), the IRS has recently sort of, kind of, maybe, in special circumstances enabled employers to make a matching contribution to their 401(k) plan on behalf of eligible plan participants who, instead of contributing to the 401(k), make certain qualifying student loan repayments instead.

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Posted on October 18, 2018 by Gary B. Kushner, SPHR, CBP, President and CEO

It's That Time of Year Again - Medicare Part D Notices Due (2018 Edition)

When Congress passed the Medicare Prescription Drug, Improvement, and Modernization Act in 2003 implementing prescription drug coverage under Medicare (commonly known as Part D), it required all employers that offer prescription drug benefits to provide an annual notice to all Medicare-eligible plan participants and qualified beneficiaries before October 15th of each year, the start of the Medicare open enrollment period. This could include not only retirees and their dependents, but active Medicare-eligible employees and their dependents, and COBRA participants as well. For most employers, rather than determine which actives, retirees, dependents, and COBRA participants are Medicare-eligible, it’s easier to blanket the entire population with this annual notice.

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Posted on September 08, 2018 by Gary B. Kushner, SPHR, CBP, President and CEO

2017 Tax Act Creates Opportunity for Small Business Defined Benefit Plans

A new Section 199A of the 2017 Tax Act passed by Congress in December of that year enables small business owners—especially sole proprietors, subchapter S corporations, and partnerships—to get up to a 20 percent deduction of qualified business income if they have total income below certain thresholds. The Treasury Department recently issued its first set of proposed regulations regarding this new section, and some of the methods that had been offered in the market, such as what was known as “crack and pack,” were deemed abusive.

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Posted on August 16, 2018 by Gary B. Kushner, SPHR, CBP, President and CEO

Kushner & Company CEO Interviewed at 2018 SHRM Annual Conference

Gary Kushner, President and CEO of Kushner & Company was interviewed by Workforce Management magazine during the 2018 SHRM Annual Conference in Chicago about the most often missed items in employers’ compliance with the ACA.

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Posted on July 02, 2018 by Jennifer Alfieri, COO of Kushner & Company

It's PCORI Return Filing Time Again (2018 Edition)

Under the ACA, the Patient-Centered Outcomes Research Institute (PCORI) was established. The funding mechanism for PCORI was a fee on group health plans, including certain employer-contributed health care flexible spending accounts (employer FSAs) and Health Reimbursement Arrangements (HRAs). An IRS Form 720 is required to be filed each year by July 31st.

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Posted on June 01, 2018 by Gary B. Kushner, SPHR, CBP, President and CEO

2019 HSA Limits and HDHP Designs Announced

Starting in 2007, the Tax Relief and Health Care Act of 2006 (TRHCA) requires that the IRS release the upcoming year’s new HSA limits prior to June 1st. Here are the new limits for 2019

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Posted on May 14, 2018 by Gary B. Kushner, SPHR, CBP, President and CEO

IRS Plays Emily Litella Regarding 2018 HSA Family Contributions

In May, 2017, the IRS released the 2018 HSA contributions limits in Rev Proc 2017-37, amongst other HSA-related indexed numbers, stating that the maximum contribution for those in family HDHP coverage would be $6,900. Congress then passed its Reconciliation Act in December, 2017, changing the indexing methodology for a number of benefit-related (and other) limits to utilize something called “chained-CPI,” as opposed to the regular CPI that had been used for decades. This in turn caused the IRS to recalculate its 2018 limits for benefit plans, and on March 2, 2018 issued Rev Proc 2018-18, retroactively reducing the 2018 family HSA maximum contribution amount by $50 to $6,850.

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Posted on April 26, 2018 by Gary B. Kushner, SPHR, CBP, President and CEO

IRS Issues FMLA Tax Credit FAQs Under Section 45S

The Tax Cuts and Jobs Act, signed into law in December 2017, created a new business credit for employers that offer paid family and medical leave and which are subject to the Family and Medical Leave Act of 1993 (FMLA). In a pleasant surprise, employers with fewer than 50 employees are also eligible for this tax credit if they offer FMLA-like leave. The IRS released its first guidance on this new tax credit in a series of FAQs.

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Posted on April 16, 2018 by Gary B. Kushner, SPHR, CBP, President and CEO

IRS Announces Change to Maximum Family HSA Contribution for 2018

On March 5, 2018, the IRS published Internal Revenue Bulletin (IRB) 2018-10.

Effective for calendar year 2018, the family contribution limit for HSAs has been lowered to $6,850 from the previously set amount of $6,900.

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Posted on March 06, 2018 by Gary B. Kushner, SPHR, CBP, President and CEO

Health Care Cadillac Tax Delayed Until 2022

The three week extension of the federal budget resolving the shutdown from January 19th through 22nd also contained a delay of the Cadillac Tax from 2020 to 2022.

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Posted on January 23, 2018 by Gary B. Kushner, SPHR, CBP, President and CEO

ICE Announces Significant Increases in I-9 Audits of Employers

The current Administration has indicated that the number of Form I-9 employment verification audits will significantly increase in 2018. What does this mean for you?

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Posted on January 22, 2018 by Joel L. Kushner, SPHR, SHRM-SCP, Vice President of HR

Small Employer Retirement Plans Negatively Impacted by VCP User Fee Change

When small employers make operational errors in their 401(k) or other retirement plans, and before the IRS or DOL provide a notice of an audit, the employer has the ability to self-correct under two different IRS programs: The Voluntary Compliance Program (VCP) and the Self-Correction Program (SCP) under the IRS’ Employee Plans Compliance Resolution System (EPCRS). It has always been in both the employer’s/plan’s and the IRS’ best interest to correct operational errors before an audit occurs, and since small employers are sometimes more likely to make inadvertent errors (such as missing a Required Minimum Distribution), small employers were previously given a break on the user fees in order to file under the VCP program.

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Posted on January 09, 2018 by Gary B. Kushner, SPHR, CBP, President and CEO

IRS Extends Required ACA 1095 Filings (Sort of)

The IRS announced in Notice 2018-06 that employers will have more time to provide their employees with the 2017 required 1095-B or 1095-C forms. The new deadline moves from January 31, 2018 to March 2, 2018. However…

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Posted on January 03, 2018 by Gary B. Kushner, SPHR, CBP, President and CEO

Transportation Benefits Impacted by Tax Act

Under the recently passed Tax Cuts and Jobs Act of 2017, employer-provided transportation benefits are somewhat pared back beginning in 2018.

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Posted on January 03, 2018 by Gary B. Kushner, SPRH, CBP, President and CEO

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