The Tax Code May Catch Up with Technology - 21 Years Later

Tax

By Martin DiGiovine

On April 14, 2010, The U.S. House of Representatives passed H.R. 4994 (The Taxpayer Assistance Act of 2010). Included in the legislation is a provision that would eliminate the strict substantiation rules that are currently in place for employer-provided cell phones and similar devices. Martin DiGiovine explains what this could mean.... read more >

Treasury Announces Electronic Requirements for Payroll Taxes

Tax

By Barbara Balcita

The U.S. Department of Treasury announced on April 19, 2010 that it will be eliminating Form 8109, Federal Tax Deposit coupons, paper checks for government benefits, and paper option for payroll deduction for U.S. Saving bonds starting in 2011. What does that mean? Barb Balcita explains.... read more >

New Restrictions on Cafeteria Plans and Reimbursements

Tax

By Ron Kramer

Beginning in 2013, the Act imposes a limit of $2,500 per taxable year on employee salary reductions for coverage under a cafeteria plan Flexible Spending Arrangement.... read more >

Health Care Reform Includes Safe Harbor Cafeteria Plan for Small Employers

Under the new healthcare reform package, and effective for taxable years beginning after December 31, 2010, small employers will be allowed to adopt new “SIMPLE cafeteria plans.” Under the new law, SIMPLE cafeteria plans will be treated as meeting nondiscrimination requirements as long as certain eligibility, participation and minimum contribution requirements are met by the plans.... read more >

Health Care Reform: Expansion of Information Reporting Requirements on Form 1099

Health Care|Tax

By Ron Kramer

Beginning in 2012, “Big Brother” will be watching you a little closer. The new health care legislation contains a provision that expands the information reporting requirements by businesses. The new provision has nothing to do with health care and everything to do with raising revenue to pay for health care. The new reporting requirements will significantly raise paperwork requirements for businesses of all sizes.... read more >

Health Care Reform: 2010 Tax Benefits

Tax

By Ron Kramer

The latest in a series of Insights focusing on the tax provisions of The Patient Protection and Affordable Care Act. Ron Kramer explains the tax credit for small businesses that provide health care coverage to their employees.... read more >

Health Care Reform: Is your plan a Cadillac or a Chevy?

Tax

By Ron Kramer

President Obama signed The Patient Protection and Affordable Care Act (“the Act”) into law on March 23, 2010. Separately, on March 25, 2010, the Senate and House passed the Health Care and Education Reconciliation Act of 2010 (“the Reconciliation Act”) amending many provisions of the Act. The Reconciliation Act is awaiting President Obama’s signature.... read more >

Tax Provisions in the Patient Protection and Affordable Care Act - What Will They Mean to You?

Health Care|Tax

By Ron Kramer

President Obama has signed the Patient Protection and Affordable Care Act (“the Act”) passed by the House of Representatives late Sunday, March 21. Now, the separate package of modifications to the Act contained in the Health Care and Education Tax Credits Reconciliation Act of 2010 (“the House Reconciliation Act”) heads to the Senate to face the reconciliation process that could allow it to pass by a simple majority vote.... read more >

Deadline to Claim First - Time Homebuyer Tax Credit Rapidly Approaching

Tax

By Tod Wilson

The tax credit for first-time homebuyers, as expanded and updated by The Worker, Homeownership, and Business Assistance Act of 2009, will expire soon. To qualify for the credit, taxpayers have until April 30, 2010 to purchase a new home or enter into a binding contact.... read more >

Senate Sends HIRE Bill to President's Desk

Tax

By Martin DiGiovine

The U.S. Senate approved the final version of the Hiring Incentives to Restore Employment (HIRE) Bill, on March 17, 2010. The Jobs bill, as it has been ... read more >