by keyseradmin | Apr 19, 2021 | Compliance
Internal Revenue Service Announcement 2021-7 This announcement notifies taxpayers that amounts paid for personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of the Coronavirus Disease 2019...
by keyseradmin | Dec 14, 2020 | Employee Benefits, Human Resources
Earlier this summer, the Internal Revenue Service (IRS) and the Department of Health and Human Services (HHS) made several important changes to the Affordable Care Act (ACA) employer mandate and reporting. Background As many readers are aware by now, applicable large...
by keyseradmin | Dec 14, 2020 | Employee Benefits, Human Resources
The IRS has announced that employer-sponsored health coverage will satisfy the Affordable Care Act (ACA) affordability requirement next year if the lowest-cost, self-only coverage option an employer offers does not exceed 9.83 percent of an employee’s household...
by keyseradmin | Nov 19, 2020 | Compliance, Employee Benefits, Human Resources
By Beth Miller Following announcements by both the Internal Revenue Service and the Social Security Administration, most of the information on 2021 dollar amounts that employers will need to administer their benefit plans is now available. The key dollar...
by keyseradmin | Nov 19, 2020 | Compliance, Employee Benefits, Human Resources
The IRS recently released its 2021 contribution limits for 401(k) plans. For 2021, employee contributions will remain at a limit of $19,500 and the additional $6,500 catch-up contribution for anyone turning age 50 or older. Employer and employee contributions COMBINED...
