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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

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

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

QSEHRA Notices Temporarily Delayed

In a new IRS Notice, the period to provide the required notice to all participants of a new Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) is extended until no sooner than 90 days after the issuance of such guidance.

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Posted on March 06, 2017 by Gary B. Kushner, SPHR, CBP, President and CEO

DOL Issues Final Regulations on FLSA Overtime Changes

There’s both good news and bad news for employers in the final rule issued on May 17, 2016. The good news is that compared to the proposed regulations, the DOL did address some employer concerns in the final regulation. For example, a key issue for many employers, particularly small to mid-sized ones, was that the duties test for the executive, professional, and administrative exemptions would be significantly modified. It was not changed at all from the current standards. The bad news—that’s a longer list.

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Posted on May 18, 2016 by Gary B. Kushner, SPHR, CBP, President and CEO

Keeping Your Salary Structure Up-to-Date

The main item of note is first to deal with how the organization creates value and competes, and then examine the linkage to its Total Rewards strategy and compensation as part of that.

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Posted on May 23, 2013 by Gary B. Kushner, SPHR, CBP - President and CEO

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