Healthcare Reform Reporting Requirement Deadline October 1, 2013
Are you aware of the healthcare reform law that goes into effect on January 1, 2014? Did you know that as an employer, you are required to send a marketplace notice to your employees by October 1,...
View ArticleWhat’s Your “Hole in the Board”?
Have you ever thought about what it is that you actually sell? I mean REALLY thought about it? For example, does a construction contractor just sell houses? Does a dentist just fill cavities? Does a...
View ArticleIRS Suspends Refunds During Government Shutdown
Because of the federal government shutdown, the IRS will be unable to issue tax refunds until the stalemate in Congress is over, but the agency reiterated that all taxpayers should continue to meet...
View ArticleFake Affordable Care Act Websites Target Consumers for Identity Theft
This alert was issued today by the Better Business Bureau today: CHICAGO, IL – October 30, 2013 – Computer hackers are creating phony Affordable Care Act (ACA) websites and are asking for consumers’...
View ArticlePlanning Pension Distributions
Article Highlights •Except for distributions from Roth IRAs, pension distributions are generally taxable. •Pension distributions can increase the tax on your Social Security benefits. •Pension...
View ArticleIRS Reminder: April 1 is Key Date for Taxpayers with IRAs and Qualified Plans
In a news release, IRS has reminded taxpayers who turned 70 1/2 during 2013 that, in most cases, they must start receiving required minimum distributions (RMDs) from Individual Retirement Accounts...
View ArticleReimbursement of Individual Health Insurance Premiums No Longer Qualify for...
On November 6th, 2014, the Department of Labor issued new guidance that clarifies how the Affordable Care Act is changing the tax treatment for the reimbursement of individual health insurance...
View ArticleIRS Telephone Scam Prevalent in Illinois Now
Over the years, the IRS has been warning taxpayers and tax professionals about scams where someone calls, allegedly from the IRS, that they had a balance due and needed to pay their balance by a...
View ArticleCongress Puts Lid On Health Flexible Spending Arrangements
As part of the Patient Protection and Affordable Care Act (new health care law), employee contributions to health flexible spending arrangements (health FSA) are now being limited to a maximum pre-tax...
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