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Congress Eliminates IRS Penalty on Employer Reimbursements for …

WebDecember 07, 2016, 3:02 p.m. EST 1 Min Read. The Senate passed legislation Wednesday eliminating a tax penalty on employers who reimburse employees for the cost of health

Actived: 6 days ago

URL: https://www.accountingtoday.com/news/congress-eliminates-irs-penalty-on-employer-reimbursements-for-health-insurance

800,000 Taxpayers Received Wrong Tax Info from Health Insurance

WebApproximately 800,000 taxpayers who received health care coverage through the federal insurance marketplace Healthcare.gov were sent the wrong information on their Form …

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Self-Insured Group Medical Plans and Their Effect on the …

WebSelf-Insured Group Medical Plans and Their Effect on the Corporate Tax Return. IMGCAP (1)]The escalating cost of providing group medical benefits has forced …

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Tips for increasing the benefits and tax breaks of HSAs

WebCurrently the maximum allowed HSA contribution in 2023 is $3,850 for individual coverage and $7,750 for family coverage, with the opportunity for an additional …

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Accountants helping health providers cope with pandemic

WebAccountants are coming to the aid of doctors and health care organizations who are dealing with not only the COVID-19 pandemic and its variants, but also with …

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GASB Releases Standards for Reporting Health Insurance and …

WebThe Governmental Accounting Standards Board has published two new standards aimed at improving the accounting and financial reporting by state and local …

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IRS posts medical expenses FAQ Accounting Today

WebThe Internal Revenue Service has posted frequently asked questions that address whether certain costs related to nutrition, wellness and general health are …

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Accountants Offer Advice on Health Insurance Exchanges

WebErnst & Young is taking a different approach, with a webcast scheduled for Thursday afternoon on the new health insurance exchanges. EY consultants will discuss …

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IRS updates guidance on Obamacare tax credits

WebIRS updates guidance on Obamacare tax credits. By Michael Cohn. February 09, 2024, 4:24 p.m. EST 1 Min Read. The Internal Revenue Service updated its …

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The HSA 'deathbed drawdown': Making tax-efficient distributions …

WebThe caveat, however, is that distributions that aren't used for qualified medical expenses are taxable (with an additional 20% penalty if the owner is under age …

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IRS updates guidance on Obamacare tax credit Accounting Today

WebIRS updates guidance on Obamacare tax credit. By Michael Cohn. February 25, 2022, 1:54 p.m. EST 1 Min Read. The Internal Revenue Service updated its …

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IRS provides tax break for 23andMe as a medical expense

WebThe IRS letter explained how the expenses should be divided. “On the basis of our analysis of the facts and representations provided, because ancestry services, a …

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IRS increases HSA amounts for inflation for 2022

WebRevenue Procedure 2021-25 gives the 2022 inflation-adjusted amounts for HSAs and the maximum amount that can be made newly available for excepted-benefit health …

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Health Care Reform's Effect on Business Accounting Today

WebHealth Care Reform's Effect on Business. September 22, 2010, 9:56 a.m. EDT 64 Min Read. In addition to asking candidates for our Top 100 MostInfluential …

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COSO offers guidance on internal controls for health providers

WebThe publication, “ 2013 COSO Integrated Framework: An Implementation Guide for the Healthcare Provider Industry,” expands on COSO’s widely used internal …

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IIA Opens Specialty Center for EHS Auditors Accounting Today

WebApril 12, 2016, 10:02 a.m. EDT 2 Min Read. The Institute of Internal Auditors has introduced an Environmental, Health & Safety Audit Center to highlight the growing role of EHS …

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28% of accountants say work is harming mental health

WebA recent survey from Thomson Reuters that polled professionals in the legal, tax and accounting fields found that about 28% of tax and accounting firm professionals …

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KPMG U.S. announces compensation and benefits enhancements

WebOctober 25, 2021, 4:05 p.m. EDT 1 Min Read. Big Four firm KPMG announced a string of changes across its employee compensation and benefits during the ongoing COVID-19 …

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