Monthly Archives: September 2014

DOs and DON’Ts for Deducting Meals, Entertainment and Travel

September 26th, 2014

If you’re claiming a deduction for meals, entertainment, auto or travel expenses, expect the IRS to closely review it. Too often, taxpayers have incomplete documentation or try to re-create records months (or years) later. In doing so, they often fail to meet the strict substantiation requirements set forth under tax law and by the IRS. Tax...

Read more

Court: Missing COBRA Notice Led to Hefty Legal Penalties

September 26th, 2014

Just how important are COBRA notices when an employee leaves your company or organization? One employer learned the answer to this question when a proper and timely notice was not provided and a former employee sued. Here’s what happened in one recent case. The Facts of the Case Tondalaya Evans was employed by national book retailer, Books-a-Million, for...

Read more

Another Employer Headache: The Complexity of ERISA Compliance

September 24th, 2014

The Affordable Care Act (ACA) added to the already overwhelming amount of mandatory notices required for employers to remain compliant. Employers are required to provide employees with a variety of notices advising them of their rights and responsibilities in regard to FMLA, HIPAA and the ACA. The Employee Retirement Income Security Act (ERISA) is no...

Read more

Review of Reporting Requirements under Code Sections 6055 & 6056

September 16th, 2014

In late August 2014, the IRS released instructions for completing Forms 1095-B, 1094-B, 1095-C and 1094-C. Many employers will use these forms to report its health coverage to the IRS and provide statements for coverage to its employees in early 2016. These forms are very important because the IRS will use the information on these forms to determine...

Read more

Are employee assistance programs subject to COBRA?

September 2nd, 2014

Provided by Larry Grudzien Are employee assistance programs subject to COBRA? An employee assistance program  (“EAP” ) can include any of a variety of employer-sponsored programs that seek to prevent or mitigate personal or family problems that could adversely affect an employee’s productivity.  For most EAPs , a third-party vendor is involved, with certain benefits (usually counseling)...

Read more