by Girish Anand | Aug 14, 2018 | IRS
The Internal Revenue Service (IRS) has issued proposed regulations for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income. The new deduction — referred to...
by Girish Anand | Jul 7, 2018 | ACA, Affordable Care Act, IRS, Obamacare
Even as many applicable large employers (ALEs) grapple with Employer Shared Responsibility Penalty (ESRP) letters from 2015, the Internal Revenue Service (IRS) is preparing to issue more such letters — known as Letter 226-J — for 2015, with still more...
by Girish Anand | May 16, 2018 | ACA, Affordable Care Act, IRS
The Internal Revenue Service (IRS) has begun issuing new Affordable Care Act (ACA) penalty notices for calendar year 2015. The notices are officially called Employer Shared Responsibility Payment (ESRP) notices, or what the IRS refers to as Letter 226-J. Under the...
by Girish Anand | May 15, 2018 | IRS, Obamacare
The Internal Revenue Service has issued guidance that provides relief for certain small employers who wish to claim the Small Business Health Care Tax Credit for 2017 and later years but whose businesses reside in counties with no Obamacare small business health...
by Girish Anand | Apr 19, 2018 | FMLA, IRS
The Tax Cuts and Jobs Act of 2017 opened a two-year window, from Jan. 1 this year to Dec. 31, 2019, for qualifying companies to receive a tax credit if they offer paid Family and Medical Leave Act (FMLA) time off. This month the IRS issued a set of FAQs to help...
by Girish Anand | Jan 12, 2018 | IRS
The Internal Revenue Service has released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. This is the first in a series of steps that IRS will take to help improve the...
