Federal Employment Law Update – February 2018 | PA Employee Benefits

IRS Releases Publication 15 and W-4 Withholding Guidance for 2018On January 31, 2018, the federal Internal Revenue Service (IRS) released Publication 15 — Introductory Material, which includes the following:2018 federal income tax withholding tables.Exempt Form W-4.New information on:Withholding allowance.Withholding on supplemental wages.Backup withholding.Moving expense reimbursement.Social Security and Medicare tax for 2018.Disaster tax relief.Read Publication 15 … Continued

Nothing Is Certain, But Death and LESS Taxes… | PA Benefit Advisors

On January 11, 2018, the Internal Revenue Service released its income tax withholding tables for 2018 reflecting changes made by the December 2017 tax reform legislation. The updated withholding information provides the new rates for employers to use during 2018. Employers are encouraged to use these tables as soon as possible but must use them by … Continued

IRS Proposes New Section 6055 Reporting Requirements for Self-Insured Employers | PA Benefit Advisors

Employers with self-insured health plans are facing new Section 6055 regulations regarding the reporting of minimum essential coverage. The proposed regulation requires self-insured employers to report this information to the IRS on either Form 1095-B or in Part III of Form 1095-C, if the coverage is provided by an applicable large employer. Section 6055 reporting … Continued

Taxation of Identity Protection Services | Pennsylvania Employee Benefits

According to the IRS, identity theft has been the number one consumer complaint to the Federal Trade Commission for 15 consecutive years. The Bureau of Justice Statistics estimates that 17.6 million people were victims of identity theft in 2014. Organizations at every level are trying to protect employee and customer personal information from computer hacking … Continued

IRS Reporting Tip: Check the Right Boxes on Your Cover Sheet | PA Employee Benefits

Under the Patient Protection and Affordable Care Act (ACA), individuals are required to have health insurance while applicable large employers (ALEs) are required to offer health benefits to their full-time employees. In order for the Internal Revenue Service (IRS) to verify that (1) individuals have the required minimum essential coverage, (2) individuals who request premium … Continued

 

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