Movin’ On Up was the theme song for The Jeffersons,* which was a 1970s sitcom that celebrated George and Louise Jefferson’s move to a deluxe apartment in the sky. Movin’ on up just became more expensive in 2018 after the changes included in the Tax Cuts and Jobs Act of 2017 (the “TCJA”). First, the TCJA suspends the individual deduction ...
On January 22nd, Congress passed and President Trump signed a stopgap funding bill to reopen the government. Along with reopening the government, this bill also delayed the ACA’s Cadillac Tax for another 2 years so that it is not set to be effective until 2022. The 40% excise tax on high-value health plans was originally set to take effect in 2018. ...
While accountants and tax advisors are scrambling to figure out what steps, if any, their clients should be taking by year end due to the passage of the Tax Cuts and Jobs Act, many of us in the benefits world are breathing a sigh of relief that some of the proposals relating to qualified retirement plans didn’t make it into the final Act. In a prior post
The IRS recently announced that it extending the deadline for large employers and self-insured group health plans to distribute their Forms 1095-C to employees and plan participants. The normal deadline to distribute Forms 1095-C is January 31st. This IRS announcement delays the deadline for distributing your 2017 forms until March 2 ...