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Kathleen Petrucci

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ACA Forms 1094/1095 Deadline Fast Approaching!

The deadline for filing the employee copies of the new ACA Forms 1094 and Forms 1095 is March 31, 2016! If you are an employer with at least 50 full-time

Employer's Guide to the ACA Reporting Requirements: Affordable Care Act Whitepaper Now Available

Schneider Downs has released a detailed whitepaper, Employer’s Guide to the New ACA Reporting Standards. This whitepaper was developed to provide

IRS Office of Chief Counsel - Facility Upgrade Payments Are Includible in Income

On May 9, the IRS Office of Chief Counsel released a memorandum addressing the tax treatment for amounts that automobile dealerships receive from manufacturers

Tax Update Alert Offshore Reinsurance Companies

On February 20, 2014, the IRS issued the latest set of regulations to clarify and amend the Foreign Account Tax Compliance Act (FATCA) final regulations

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Healthcare Reform: Required Notice to Employees Regarding "Marketplace" Exchanges

On May 8, 2013, the United States Department of Labor (DOL) issued guidance about the required notice that employers must distribute to employees during

Health Care Reform: Is Your Dealership Ready for the "Pay or Play" Rules Starting in 2014?

With last year’s Supreme Court ruling upholding the constitutionality of the Patient Protection and Accountable Care Act (ACA), dealers are now faced

Are You Correctly Taxing Employees on the Use of Demos? If Not, You Can End Up Owing Uncle Sam More Than You Bargained For.

In Revenue Procedure 2001-56, the IRS provides guidance for the taxation of personal use of a demo vehicle. Basically, in addition to computing a W-2 inclusion

Tighten up Controls in Your Parts Department to Deter Parts and Cash from Walking out the Back Door

Let’s face it – employees steal things! Okay, maybe it’s just the occasional pen, pencil or ream of computer paper, but sometimes it’s

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It's Tax Time-Don't Miss Out on Large Deductions Available for Facility Improvements Completed in 2011

In an effort to get the economy moving again, the 2010 Tax Relief Act expanded enhanced depreciation incentives to include qualified real property. This

IRS Issues Long-Awaited Repair Regulations

On December 23, 2011, the IRS issued simultaneous proposed and temporary regulations to clarify and expand regulations under Code Sections 162(a) and 263(a)

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