Tag Archives: IRS

IRS Extends Deadline for Forms 5500 Due before July 15, 2020

On April 9, 2020, the IRS issued Notice 2020-23 to extend key tax deadlines for individuals and businesses in response to the ongoing COVID-19 pandemic. This new tax relief is provided under Section 7508A of the Internal Revenue Code (Code), which gives the IRS authority to postpone deadlines for taxpayers affected by federally declared disasters.

Tax Day Moved to July 15

The Treasury Department and the IRS issued new guidance related to federal tax payments and coronavirus disease 2019 (COVID-19).

IRS FAQs: 2020 Form W-4

On Dec. 5, 2019, the Internal Revenue Service (IRS) released an updated version of its W-4 form. Employers use the form to determine each employee’s federal tax withholdings.

IRS Provides Transition Relief For 2019 ACA Reporting

OVERVIEW On Dec. 2, 2019, the Internal Revenue Service (IRS) issued Notice 2019-63 to: Extend the due date for furnishing forms under Sections 6055… Read More »

Form 5500 Annual Return/Report of Employee Benefit Plan

Each year, employee benefit plan administrators are generally required to file a return/report regarding the plan’s financial condition, investments and operations. The annual reporting… Read More »

ACA Affordability Percentages Will Increase For 2019

HIGHLIGHTS For plan years beginning in 2019, the ACA’s affordability contribution percentages are increased to: 86 percent under the pay or play rules 86… Read More »

2018 HSA Limit for Family Coverage Changed Again

On April 26, 2018, the IRS released Revenue Procedure 2018-27 to announce another change to the 2018 family health savings account (HSA) contribution limit…. Read More »