- Companies that do business in multiple states should be aware of a new trend resulting in apportionment changes.
- Private foundations should consider three specific areas of self-dealing: payment of personal pledges, compensation to employees and board members, and paying or reimbursing expenses of disqualified persons or family members.
- The IRS released Notice 2015-17 to provide small employers relief from the assessment of excise tax, involving the use of employer payment plans and health reimbursement accounts (HRA) including tax treatment for reimbursement of premiums for individual coverage owned by 2 percent shareholder-employees of subchapter S corporations.
- Three years after implementation, the complex nature of Statement of Statutory Accounting Principles (SSAP) No. 101, Income Taxes, A Replacement of SSAP No. 10R and SSAP No. 10, continues to bring doubt and uncertainty to insurance companies, especially those without internal tax departments.
- 2014 was a transition year for determining who was subject to the Affordable Care Act employer mandate, but companies still may have some obligations to fulfill before 2014 W-2s are issued. A new year also means employers need to ramp up preparations for ACA-related reporting requirements.
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