Ask the Expert: Mileage Reimbursement for Travel Between Offices?
When we require employees at our branch to travel to the main office for an after hour meeting—for which they will be paid—are we required to pay mileage as well?
Tag: IRS
Ask the Expert: When Are Mid-Year FSA Elections Changes Permitted?
Our company will be acquired and therefore all of our employees will be terminating our current company and will be hired by the acquiring company. In regards to our Dependent Care Account, can current participants who are contributing change their contribution amount based on this acquisition being out of their control? We would not want […]
Lowering Costs and Staying Safe: Employees on the Road
It should come as no surprise that sending employees on business trips comes with quite a bit of HR baggage. From keeping track of travel expenses, to making sure your employees stay out of harm’s way, there can be quite a lot to handle.
What is FICA?
FICA stands for the Federal Insurance Contribution Act, which outlines the required income tax withholdings related to social security and Medicare. Employers are required to withhold this tax from employee paychecks on behalf of the employee and submit them to the IRS. Unlike most payroll taxes, employers also have a separate employer FICA tax responsibility […]
Ask the Expert: 1095-C Reporting when Both Spouses Work for Same Employer
For Form 1095-C (Employer-Provided Health Insurance Offer and Coverage) reporting, if the spouse is also an employee, specifically what code do we use in line 16 for the employee enrolled as the spouse?
ACA Play-or-Pay: What is a Limited Non-Assessment Period (LNAP)?
By Jen Carsen, JD A “Limited Non-Assessment Period” (LNAP) is the IRS’s fancy way of describing one or more months that don’t really count for purposes of the play-or-pay penalties under the Affordable Care Act (ACA).
Cracking the ACA Code (Part 2): Tips for Filling out the 1095-C Form
By Jennifer Carsen, JD, Legal Editor Employers with 50 or more full-time employees, including full-time equivalent employees (FTEs), in calendar year 2015 are required to fill out Forms 1094-C and 1095-C.
Cracking the ACA Code: Solutions to Your Most Vexing 1095-C Coding Challenges
By Jennifer Carsen, JD, Legal Editor Despite the extra time bestowed by the IRS to file and distribute 1095-Cs for the 2015 tax year, coding challenges abound. How do you account for folks on COBRA? Noncalendar-year plans? And what the heck is a “Limited Non-Assessment Period,” anyway?
Ask the Expert: 1095 Form for Seasonal and Part-Time Workers?
For the tax forms we must issue for the Affordable Care Act (ACA) – do we need to issue them to seasonal employees since they will not be considered full-time employees? Also, can you confirm that we do not have to issue the form to part time employees (working less than 30 hours per week)?
IRS Clarifies Midyear Changes to ‘Safe Harbor’ 401(k) Plans
The IRS on Jan. 29 provided some long-awaited guidance on which midyear amendments to “safe harbor” 401(k) retirement plans it will allow — and which remain prohibited. The guidance, effective immediately, should put to rest years of confusion among practitioners over when they can adjust plans to reflect short-term changes without putting their plan’s qualification […]