Monthly Archives: February 2013

What’s New for the 2013 Tax Filing Season?

February 28th, 2013

If you’ve not already received all of your 2012 W-2 and 1099s, you should any day now. After the “fiscal cliff” delay, the IRS is geared up and ready for tax filing season, which officially starts on January 30. Bottom line: it’s time to start thinking about putting together your Form 1040 for last year.Before...

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Get Ready for Required Direct Deposit of Federal Benefit Payments

February 28th, 2013

Like it or not, retirees receiving Social Security and other beneficiaries of federal benefit plans are required to begin receiving payments electronically by March 1, 2013, if they aren’t already doing so. Under the government’s “Go Direct” program, you can choose between having a direct deposit made to a bank or credit union account and...

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HHS Releases New Final HIPAA Regulations

February 28th, 2013

Article written by Larry Grudzien, Attorney at Law On January 17, 2013, the Department of Health and Human Services released final regulations which provided sweeping changes to the rules update under privacy, security, enforcement, and breach notification requirements of the Health Insurance Portability and Accountability Act (HIPAA), the Health Information Technology for Economic Health (HITECH)...

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New FMLA Regulations and What it Means for Military Families

February 28th, 2013

In 2008 and 2010 the Family and Medical Leave Act (FMLA) was amended, expanding the military-related leave protections and included a special eligibility provision for airline flight crew employees. Effective March 8, 2013 more regulations will be added to the complexities of FMLA.  What’s the reasoning behind these changes? For military families, caring for an...

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BASIC COBRA, Now is a Good Time to Look Back

February 12th, 2013

COBRA generally applies to all private-sector group health plans maintained by employers that have at least 20 employees on more than 50 percent of its typical business days in the previous calendar year. COBRA also applies to plans sponsored by state and local governments. Who counts?  Both full and part time employees count towards your...

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Healthcare Reform Law Interactive Timeline

February 12th, 2013

The Henry J. Kaiser Family Foundation has published an interactive implementation timeline to help explain how and when the provisions of the healthcare reform law will be implemented for this year as well as upcoming years. Customize the content you wish to view based on the category of the provision, or whether or not it...

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Important Tax Figures for 2013

February 12th, 2013

Every year, the dollar amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. Here are some important tax figures for 2013, compared with 2012, including the estate tax exemption, Social Security wage base, qualified retirement plan and IRA contribution limits, driving deductions, allowable business write-off amounts and...

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The American Taxpayer Relief Act of 2012 Pertaining to Transit & Parking Benefits

February 12th, 2013

The American Taxpayer Relief Act of 2012 that was signed into law included a provision to increase the transit benefit to $240 per month, re-instating the parity of pre-tax transit and parking benefits. The change, effective immediately, allows commuters on public transit to set aside $240 pre-tax monthly (an increase of $115 monthly), which is...

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