CBG Benefits

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Posts Tagged 'taxes'

IRS Health Care Tax Tip Addresses ACA and Reporting Health Coverage on Tax Forms

To help taxpayers understand how their health coverage for 2015 will impact their filing of taxes, the IRS recently issued a new “Health Care Tax Tip”. While most taxpayers will simply need to check a box on their tax return to indicate they had health coverage for all of 2015, there are a few forms […]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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Reminder to Employers: Forms W-2 Must Include Cost of Group Health Coverage

Under the Affordable Care Act, employers are required to report the aggregate cost of employer-sponsored group health plan coverage on their employees’ Forms W-2. The Form W-2 reporting requirement is currently optional for small employers. In the case of this requirement, an employer is considered a small employer if it had to file fewer than […]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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Answering Your Employees’ Questions about Taxes and the ACA’s Form 1095 Documents

While the recent deadline extension for distributing Form 1095-C to employees brought temporary relief to many employers, it also raised questions among some employees. For example, some may be asking, “Do I need to wait until I receive all of the Form 1095 documents before I file my taxes?“ To help our clients address those types […]

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Health Care Reform News: IRS Invites Comments on Cadillac Tax Implementation for 2018

On December 18th, 2015, President Barack Obama signed into a law a bill that delays implementation of the Cadillac Tax until 2020. While much of the discussion around the Affordable Care Act currently centers on the “Pay or Play” and Employer Reporting Requirement rules, there is no doubt that the “Cadillac Tax” provision is looming […]

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Health Care Reform News: Reinsurance Fee Deadline Extended to December 5

On November 14th, 2014, the Centers for Medicare & Medicaid Services (CMS) extended an important deadline regarding the Reinsurance Fee program, which is part of the Affordable Care Act. The deadline for contributing entities to submit their 2014 enrollment counts has been moved to 11:59 p.m. on Dec. 5, 2014. Updated Deadline List Here is […]

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Weekly Roundup, 2/7/14: Articles on HR, Employee Benefits, & Finance

Here’s our weekly roundup (week ending 2/7/2014) of articles that may benefit CFOs, HR professionals, employee benefit specialists, and others. We hope that you find them helpful. If you have questions on how any of these topics impact your business, please contact our team. 10 Ways Companies Drive Away Talent During the recruitment, hiring, and […]

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Posted in: Benefits and Insurance

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Employee or Independent Contractor? Questions for Employers to Ask

For some employers, hiring an independent contractor for specific jobs can offer many advantages. Some of those may be experienced financially, in terms of saving on taxes, benefit costs, and labor costs. However, employers should be cautious when classifying individuals as independent contractors. Incorrectly classifying an employee as an independent contractor can have serious financial and legal consequences. The IRS uses […]

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Taxes and Fees under the Affordable Care Act

In order to fund many of these changes implemented by the health care reform laws, the Affordable Care Act (ACA) imposes several new taxes and fees that may directly impact health plans and health plan sponsors. To help your company better understand what these fees are and how they may impact your business, we’re happy […]

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Posted in: Benefits and Insurance, Human Resources, Legislation

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IRS Procedures to Correct Overpayments on Taxes for Same-sex Spouse Benefits

Since the Supreme Court’s DOMA decision earlier this year, employers have slowly been receiving guidance on how their processes would need to change. That continued on September 23rd, when the IRS issued Notice 2013-61. That notice created special procedures that employers can use to correct overpayments of employment taxes on same-sex spouse benefits. Here are a few […]

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