How the Health Care Law May Impact Tax Returns

The requirements of the health care law will need to be taken into account on 2016 tax returns. Below is an overview of those requirements and their impact on Form 1040 series. U.S. citizens or non-U.S. citizens living in the United States: Must have qualifying health coverage, qualify for a health coverage exemptions or make […]

IRS Posts 2017 Retirement Plan Limits

The Internal Revenue Service has posted cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017. Highlights of changes for 2017 The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute to Roth IRAs, and to claim the saver’s credit all […]

U.S. Citizenship and Immigration Services Issues New I-9 Forms

U.S. Citizenship and Immigration Services (USCIS) has released a newly revised version of Form I-9, Employment Eligibility Verification. Employers may continue to use the old version dated February 8, 2013 through January 21, 2017. On Jan 22, 2017, all employers must use the newly revised form. The new Form I-9 includes a number of changes […]

21st Century Cures Act

Background The 21st Century Cures Act (Act), recently signed into law, has numerous components; however, an important change is the creation of the Qualified Small Employer Health Reimbursement Arrangement (HRA).  This allows small employers to reimburse individual health coverage premiums up to a dollar limit.  Previously, these types of employer payment plans were often unable […]