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IRS has listed Affordable Care Act Tax Provisions
On their website the IRS has listed the Affordable Care Act Tax Provisions (its actually been there a while, I just finally looked at it). There are a total of 23 new provisions. These provisions are...
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Intuit QuickBooks Payroll Update 21216
Intuit has released payroll update 21216 for QuickBooks. You can go here to see the changelog for this update. This update has some tax table and forms updates. You an always see if you have this...
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Medicare Tax Increase for Individuals Making over $200k Starts in 2013
Today’s Affordable Care Act post will be on the additional medicare tax for employees making over $200,000. To ready employees and employers for this additional tax the IRS has posted the following...
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Proof of Prescription Drug for Flexible Spending Arrangements
One of the changes that went into effect with the Affordable Care Act is to further restrict drug purchases using a Flexible Spending Arrangement (FSA). The new rules went into effect January 1, 2011....
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Ten Percent Excise Tax on Indoor Tanning Services
One of the provisions that has been implemented by the IRS as part of the Affordable Care Act (ACA, Obamacare) is an excise tax on indoor tanning services. This 10% excise tax on indoor UV tanning...
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Medical Device Excise Tax starts January 1, 2013
As part of the Affordable Care Act (Obamacare) the IRS will enforce a new 2.3% excise of taxable sales on medical devices sold by manufacturers or importers. The proposed regulations for this excise...
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Patient-centered outcomes research fee guidance released
The IRS and the Treasury Department have issued final regulations on the fee to fund the Patient-Centered Outcomes Research Institute trust fund. This trust fund is established as a provision of the...
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IRS and US Treasury released interim guidance on certain issues related to...
On December 5, 2012, the IRS and the US Treasury released Notice 2012-77: Interim Guidance and Request for Comments, Medical Device Excise Tax, Manufacturers Excise Taxes, Constructive Sale Price,...
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IRS Releases Proposed Regulations for the Net Investment Income Tax
Earlier this month the IRS has submitted the proposed rule for the Net Investment Income Tax (NIIT). The Net Investment Income Tax was passed in Health Care and Education Reconciliation Act of 2010...
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Employers must send their ACA notification letter by October 1, 2013
On May 8, 2013, the Department of Labor issued Technical Release No 2013-2, which provided guidance about the Affordable Care Act’s (ACA) employer notice to employees under the Fair Labor Standards Act...
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