SubscribeHappy 2016! It’s time to take a look at what this year will bring (apart from an Olympic Games and apparently lots of rain…). Here are the topics we will be keeping an eye on.
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UK Employment Law Forthcoming Attractions in 2016
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Employment
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IRS Announces Reduced VCP Compliance Fees
The Internal Revenue Service (IRS) has announced new general compliance fees for voluntary correction program (VCP) submissions under the Employee Plans Compliance Resolution System (EPCRS), effective February 1, 2016.
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Form W-2 and 941 Actions May Be Required Immediately for Retroactive Increase in Section 132 Transit Benefits
The Internal Revenue Service has issued correction procedures for Forms 941 and W-2 in response to the retroactive increase in transit benefit exclusions.
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Cadillac Tax Delayed to January 1, 2020; Extension of ACA Health Plan Information Reporting Due Dates
Recent year-end delays to important Affordable Care Act requirements have given employers and other stakeholders much needed reprieve. President Obama signed into law a two-year delay of the Cadillac Tax on December 18, 2015.
This two-year delay is part of Congress’s $1.8 trillion omnibus spending deal, the Consolidated Appropriations Act, 2016. In addition, the IRS recently announced a delay in health information reporting requirements for 2015 Forms 1094 and 1095.
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How to Determine Full-Time Employment Status of Employees for the ACA Employer Shared Responsibility Mandate
As part of the insurance market reforms enacted under the ACA, large employers are required to maintain a certain level of health insurance for their common law employees (and only their common law employees) or pay a penalty — the so-called pay or play or employer shared responsibility rules. The rules for determining which workers should, or even can, be offered coverage are quite daunting. This article provides a road map for determining which workers must have an offer of health insurance coverage from the employer to avoid triggering penalties under the employer shared responsibility requirements.
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Final Regulations on Affordable Care Act Market Reforms
The U.S. Departments of Health and Human Services, Labor and the Treasury have issued final regulations on market reform requirements under the Affordable Care Act (ACA) including grandfathered health plans, preexisting condition exclusions, lifetime and annual dollar limits on benefits, rescissions, coverage of dependent children to age 26, internal claims and appeals and external review processes, and patient protections.
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Tis The Season For Moonlighting: FMLA Leave and Secondary Employment
More employees on FMLA leave seem to moonlight during the last months of the year, which leads to increased inquiries from employers about suspected FMLA abuse.
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Employers Need 2015 Year-End Planning to Meet Employee Reporting and Withholding Requirements
To avoid tax reporting and withholding penalties as 2015 draws to a close, employers need to properly plan and check their reporting for employees under non-qualified deferred compensation, fringe benefits, health benefits or other remuneration. Year-end planning for employers is important, because employee information reporting, including both Form W-2 and the new Affordable Care Act (ACA) Forms, is now subject to significantly increased penalties.
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Corporate Acquisitions and Employment Verification Issues
Under the Immigration Reform and Control Act of 1986 (IRCA), all employers are required to complete an Employment Eligibility Verification Form I-9 on the first day of employment for all hired employees. While most employers are aware of this requirement, unique Form I-9 issues arise in corporate acquisitions.
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New Transit Benefit Requirements for D.C. and New York Employers Effective January 1, 2016
Two new laws require employers in Washington, D.C., and New York City to offer pre-tax transit benefits, effective on January 1, 2016. Employers with employees in these cities must take action quickly to ensure compliance with the new requirements.
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