Wed.Nov 24, 2021

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IRS Proposes Permanently Extending Deadlines for Furnishing ACA Statements to Individuals

ThomsonReuters

Information Reporting of Health Insurance Coverage and Other Issues under §§ 5000A, 6055, and 6056, 26 CFR Parts 1 and 301, 86 Fed. Reg. __ (__ __, 2021). Available at [link]. The IRS has released an advance copy of proposed regulations addressing information reporting requirements under the Affordable Care Act (ACA). The proposal would revise existing regulations regarding the requirement to furnish individuals with information about minimum essential coverage (on Form 1095-B) and the requirem

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Foreign Exchange Accounting Practices: Effects on P&L and M&A

BurklandAssociates

Foreign currency exchange can have a significant impact on revenue and M&A transactions. This article explains how Burkland’s accounting team handles the complexities of foreign exchange transactions. Foreign Exchange Effects Read More. The post Foreign Exchange Accounting Practices: Effects on P&L and M&A appeared first on Burkland.

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Must a Plan Provide Extended COBRA Coverage Because of a Spouse’s Disability?

ThomsonReuters

QUESTION: A recently terminated employee has elected COBRA for himself, his spouse, and his children. He notified us within a month after his termination that his spouse is disabled, received a Social Security Administration (SSA) disability determination several years ago, and is receiving Medicare. We know we must offer COBRA coverage to the entire family, but must the plan provide a disability extension (from 18 months to 29 months) due to the spouse’s disability?

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Nonprofit Spotlight: Unleashing The Power of Capital For a Positive Global Impact

GrowthForceBlog

3 min read. 93% of U.S employees believe companies must lead with purpose- according to a recent Harvard Business study. [1] Now more than ever, companies and investors should have a greater good in mind. The Global Impact Investment Network's vision is to globally transform capitalism to a force for good : positively contributing to social, economic, and environmental issues.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Agencies Issue Regulations Implementing Prescription Drug and Health Care Spending Reporting Requirements, Including Rules for Aggregating Data

ThomsonReuters

Interim Final Rule: Prescription Drug and Health Care Spending, 26 CFR Part 54, 29 CFR Part 2590, 45 CFR Part 149, 86 Fed. Reg. 66662 (Nov. 23, 2021); Fact Sheet: Prescription Drug and Health Care Spending Interim Final Rule With Request for Comments (Nov. 17, 2021). Regulations. Fact Sheet. News Release. The DOL, HHS, and IRS have issued interim final regulations implementing the requirement that group health plans and insurers report prescription drug and health care spending, premiums, and en

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Steve Padgett’s Thoughts on Being Thankful in Difficulty

SkagitCountyTaxServices

“It was the best of times. It was the worst of times.” I think we can agree that Charles Dickens’s famous lines ring true when looking back at 2020 and 2021 (though “best” might seem like a stretch). With employees shifting their worlds to make room for new priorities, disruptions to supply chains, new government regulations, and so on, we’ve seen Skagit County friends’ small businesses (like yours) in a non-stop “pivot” just to keep things running.

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KROST Recognizes New CPA Licensees at the CalCPA LA Chapter ABC Networking Mixer 2021

KROST

KROST recognized our new CPA licensees at the CalCPA LA Chapter ABC Networking event on November 18th at the Luxe Hotel on Sunset in Hollywood. Our M&A and Capital Markets Practice Leader, Paren Knadjian was invited on the M&A panel to talk about succession planning for CPA firms and practices. -->. -->. -->. -->. -->. -->. -->. -->. -->. -->. -->. -->.

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Clear Eligibility Provisions Avoid Employee’s Claims of Delayed Enrollment and Related Disclosure Failures

ThomsonReuters

McGinnis v. Costco Wholesale Corp. Emp. Benefits Prog., 2021 WL 4844094 (N.D. Ill. 2021). Available at [link]. An individual hired as a “limited part-time” employee claimed she was told by her manager that she would become a regular part-time employee and be entitled to employee benefits after 90 days of employment. Alternatively, she contended she was entitled to enrollment based on the summary plan description (SPD) eligibility rules, which were based on completion of a specified number of ho

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Skimpflation

RitaKeller

“Courtesy is the one coin you can never have too much of or be stingy with.” – John Wanamaker. Have you been reading about skimpflation ? The quality of service, in various places like The Magic Kingdom, airlines, restaurants, etc. have deteriorated since the beginning of the pandemic. It is a problem that the NPR show “Planet Money” has labeled “skimpflation.”.