1. Expanded penalty relief and installment agreements An expansion of the Fresh Start initiative provides new penalty relief for the unemployed and raises the dollar threshold for streamlined installment agreements. IR-2012-31 has more information. Back to top 2. Form 1099-K reporting on tax returns for TY 2011 For the 2011 tax year the IRS is not requiring a [...]
Issue Number: IR-2012-34 Inside This Issue IRS Creates Online Search Tool for Easier Check On Information About Exempt Organizations WASHINGTON — The Internal Revenue Service has launched a new online search tool, Exempt Organizations Select Check, to help users more easily find key information about tax-exempt organizations, such as federal tax status and filings. Users can [...]
Issue Number: IR-2012-33 Inside This Issue IRS Encourages Small Employers to Check Out Small Business Health Care Tax Credit IRS YouTube Video Small Business Health Care Tax Credit: English | Spanish WASHINGTON — With business tax-filing deadlines fast approaching, the Internal Revenue Service today encouraged small employers that provide health insurance coverage to their employees to [...]
Issue Number: IR-2012-27 Inside This Issue Payroll Tax Cut Extended to the End of 2012; Revised Payroll Tax Form Now Available to Employers WASHINGTON — The Internal Revenue Service today released revised Form 941 enabling employers to properly report the newly-extended payroll tax cut benefiting nearly 160 million workers. Under the Middle Class Tax Relief and [...]
Last week, the Departments of Treasury, Labor and Health and Human Services issued final regulations regarding the Summary of Benefits and Coverage (“SBC”) Rules under the Affordable Care Act. The final rules are significantly better than the proposed rules. However, many provisions in the final rules are still drafted in terms of individual policies. Converting [...]
From the KT Health and Welfare Team: The Departments of Labor, Health and Human Services and Treasury recently released yet another page from their Affordable Care Act playbook. The guidance gives a preview of upcoming regulations concerning the employer penalty, the 90-day waiting period and automatic enrollment under the Affordable Care Act. One important piece [...]
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