News & Analysis as of

Reimbursements Internal Revenue Code (IRC)

Snell & Wilmer

IRS FAQs on Educational Assistance Programs Highlight an Opportunity to Provide Student Loan Assistance

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On June 17, 2024, the IRS issued a fact sheet (FS 2024-22) that provides answers to frequently asked questions (“FAQs”) about educational assistance programs under Section 127 of the Internal Revenue Code (“Code”). Employers...more

Bricker Graydon LLP

I’ll Gladly Pay You Tuesday for an Education Today

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One of the many elements of business ownership and management is attracting and retaining productive employees. Offering the right mix of employee benefits tailored to your employee population can play an important role in...more

The Wagner Law Group

IRS Warns Companies are Making False Statements About Health Plan Reimbursements

The Wagner Law Group on

In IR-2024-65 (the “IR”), the IRS warns taxpayers that some companies are misrepresenting the circumstances under which food and wellness expenses can be paid or reimbursed under health flexible spending arrangements (“health...more

Maynard Nexsen

A Primer on Health Reimbursement Arrangements

Maynard Nexsen on

During a time when recruiting and retaining qualified employees is becoming more and more difficult, it is crucial for employers to consider (or even reconsider) their benefits offerings and determine if there are any...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Illinois Employers Required to Provide Public Transit Benefits in 2024

Many employers with at least fifty employees in the six-county Chicago area will have to provide their full-time employees with pre-tax public transit benefits starting January 1, 2024, under a new Illinois law....more

Cozen O'Connor

Top (Bottom?) Ten of Tax Headaches (Challenges) for Municipal Bond Issuers

Cozen O'Connor on

Sometimes the first step to solving (or mitigating or avoiding) problems is to identify what the problem may be to, among other things, put time on one’s side. For issuers of tax-exempt municipal bonds, there tend to be...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Emphasizes Health FSA and Dependent Care Assistance Program Substantiation Requirements

On April 28, 2023, the Internal Revenue Service’s (IRS) Office of Chief Counsel released guidance reiterating claims substantiation rules for health flexible spending arrangements (health FSAs) under Internal Revenue Code...more

Epstein Becker & Green

Local Law Amends New York City Charter and Establishes an Office of Healthcare Accountability

On June 8, 2023, the New York City Council passed a bill focused on healthcare accountability, with the goal of increasing access to healthcare services for New Yorkers. Entitled the Healthcare Accountability & Consumer...more

McDermott Will & Emery

IRS Issues Reminder That Claims Under Health and Dependent Care FSAS Must Be Substantiated

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In a recently issued Chief Counsel Advice memorandum, the Internal Revenue Service (IRS) reminded sponsors of health and dependent care flexible spending arrangements (FSAs) of their obligation to properly substantiate claims...more

Seyfarth Shaw LLP

Can I Get Reimbursed for My Gym Membership?

Seyfarth Shaw LLP on

Seyfarth Synopsis: New IRS FAQs provide helpful clarifications on eligible medical expenses for HSAs, FSAs, MSAs, and HRAs (including the conditions for reimbursement of those gym memberships)....more

Kilpatrick

Taxation of Infertility Treatments and Surrogacy Benefits

Kilpatrick on

Many people, for one reason or another, are unable to start or expand a family. Some people look to assisted reproductive technologies (“ARTs”) to conceive a child. These ART treatments include in vitro fertilization...more

Troutman Pepper

CARES Act Provider Relief Fund: July 2020 Update

Troutman Pepper on

Since April 2020, many health care providers have received payments from the CARES Act Provider Relief Fund (PRF) in the form of general or targeted distributions. Many providers have questions about receiving and using these...more

Foodman CPAs & Advisors

IRS Guidance on Business Meals is Transitional

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The Tax Cut and Jobs Act (TCJA) amended Section 274 of the Internal Revenue Code (IRC) created a confusion for Taxpayers by disallowing a deduction for expenses with respect to “entertainment”, amusement, or recreation and...more

Morgan Lewis

Guide To The New Rules For The Deductibility Of ‘Misconduct’ Payments: Government- And Quasi-Government-Imposed Penalties, Fines,...

Morgan Lewis on

Recent US tax reform legislation P.L. 115-97, commonly known as the Tax Cuts and Jobs Act, made sweeping changes to when and how a taxpayer will be able to deduct payments made to settle claims of particular acts of...more

Akin Gump Strauss Hauer & Feld LLP

President Trump Signs Tax Reform Bill into Law

On December 15, 2017, the House and Senate conference committee agreed on the terms of the final tax reform bill, previously referred to as the “Tax Cuts and Jobs Act” (the “Act”), which was subsequently approved by both...more

Burr & Forman

Tax Reform Proposal Nixes Favorable Tax Treatment of Several Employee Benefits

Burr & Forman on

On November 3, 2017, House Ways and Means Committee Chairman Brody began the legislative consideration of Tax Reform by releasing an amendment (in the nature of a substitute) to the Tax Reform and Jobs Act (H.R. 1 hereinafter...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Brady’s Bunch - Are Big Changes Coming for Employers Under the Tax Cuts and Jobs Act?

Having missed a historic opportunity to choose an exciting name for federal tax legislation, Texas Representative Kevin Brady and his fellow Republican tax drafters did not skimp on the substance of the Tax Cuts and Jobs Act...more

BCLP

Good News! New 409A Regulations (Yes, Really!) – Part 1: Firing Squad

BCLP on

On the TV show Futurama, the aged proprietor of the delivery company Planet Express, Professor Hubert J. Farnsworth, had a habit of entering a room where the other characters were gathered and sharing his trademark line,...more

FordHarrison

New York City Transit Benefit Requirement Fast Approaching

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As most New York City employers know by now, beginning January 1, 2016, the New York Mass Transit Benefits Law (the "ordinance") requires employers with twenty or more full-time employees working in New York City to offer...more

Ballard Spahr LLP

Reporting for ACA Mandates: Final Forms and Additional Guidance

Ballard Spahr LLP on

The IRS has finalized the 2015 forms and instructions for reporting under the individual and employer mandates and issued additional guidance on these new reporting requirements. The following forms are now available...more

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