IRS and Treasury Department Announce Employer Mandate Relief for Employers of Volunteer Firefighters and Emergency Medical Personnel

Relief announced January 10, 2014 in advance of publication of final employer mandate regulations.

The IRS and the Treasury Department have announced interpretive guidance that exempts employers from counting the hours of volunteer firefighters and emergency medical personnel when determining their compliance obligations under the employer mandate provisions of the Patient Protection and Affordable Care Act (“ACA”).


Employer Mandate

The “…

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Alternative to Use-It or Lose-It

A Health Flexible Spending Account (“FSA”) provided under an employer’s §125 plan allows participants to make pre-tax contributions to pay for qualified health expenses, which are paid by or reimbursed to them under the FSA on a tax free basis. Until October 31, 2013, however, there was one major drawback without alternative: namely, all FSA contri…

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October 1, 2013 Deadline Approaches for ACA Marketplace Notification

Amendment to the Fair Labor Standards Act requires that certain employers notify employees about health insurance marketplaces by October 1, 2013.

Despite continuing uncertainty surrounding how and when state and federal-run health insurance exchanges will be functioning, the United States Department of Labor (DOL) has not pushed back its original October 1, 2013 deadline for the required employer marketplace notice.


Required Marketplace Notice

The Patient Protection and Affordable Care …

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Implementation Delayed for the Employers Mandate Provisions of the Affordable Care Act

The IRS and the Obama Administration have officially delayed implementation of the employer mandate provisions of the Patient Protection and Affordable Care Act (“ACA”) to January 1, 2015. Meanwhile, Congress continues to grapple with the remaining prospective provisions of the ACA, such as the individual mandate, with new legislation being propose…

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IRS Provides More Flexibility to Inherited Tax-Sheltered Annuities

In a recent private letter ruling1 , the IRS permitted an owner to exchange a tax-sheltered annuity for an annuity that was more aligned with the owner’s goals, through what is known as a “1035 exchange.” Although private letter rulings are not law, they tend to be good indicators for how the IRS would respond to the actions described in the letter…

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