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IRS: Opt-Out Arrangement Rules To Be Finalized ‘At A Later Time’

In July 2016, the IRS released a proposed rule addressing how opt-out arrangements--arrangements whereby an employer offers its employees a cash payment in exchange for declining coverage under an employer-sponsored plan--are to be taken into account for purposes of determining whether the coverage is affordable under certain provisions of the Affordable Care Act. While the [...]

Certain Small Employer HRAs Exempt From ACA Market Reforms

A new law allows certain small employers--those with fewer than 50 full-time equivalent employees who do not offer a group health plan--to offer new "qualified small employer health reimbursement arrangements" to reimburse employees for qualified medical expenses, including individual health insurance premiums, for years after December 31, 2016. The law also includes a notice requirement [...]

Tax Filing Season Is Upon Us

The Internal Revenue Service (IRS) has announced that tax season will begin Monday, January 23, 2017. The filing deadline to submit 2016 tax returns is Tuesday, April 18, 2017. Tax Season Begins January 23 The IRS will begin accepting electronic tax returns on January 23, 2017. Many software companies and tax professionals will be accepting [...]

New State Wage Rates in 2017

The minimum wage saw an increase in a number of states at the start of 2017. Unless otherwise noted, the following minimum wage rates (per hour) went into effect on January 1, 2017: Alaska: $9.80 Arizona: $10.00 Arkansas: $8.50 for employers with 4 or more employees California: $10.50 for employers with 26 or more employees (for smaller employers, [...]