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As employee benefits programs increase in sophistication and flexibility, the complexity of tax compliance often increases as well. RSM understands the tax ramifications of employee benefits plans and regularly shares updates on tax concerns and compliance issues related to these plans. See below for some of our most recent IRS updates.
The federal government adds two new health reimbursement arrangement (HRA) options for employers starting in 2020.
Internal Revenue Service expands determination letter process to statutory hybrids and merged plans, effective Sept. 1, 2019.
Health savings accounts are a valuable tool for saving money for medical expenses since they offer a triple tax benefit.
IRS advises that partners, sole proprietors and other non-employees cannot be Form W-2 employees of professional employer organizations.
The internal revenue service guidance updated under Employee Plans Compliance Resolution System (EPCRS) is effective April 19, 2019.
For section 199A deduction calculation purposes, it is critical for businesses to file timely its W-2 Wage and Tax Statements.
The deadline for filing with the government is the same as for furnishing forms to your employees and independent contractors.