The administration added that there will still be time to sign up before January 1st, 2014, but the admission of the delay is still an embarrassing concession. The Wall Street Journal is also reporting that inside sources are still skeptical about the January 1st date.
In what the Wall Street Journal calls "The highest-profile tech stumble to date in the effort to open electronic marketplaces", the Obama administration announced this week that the insurance exchanges for small businesses will NOT be ready on October 1st.
The administration added that there will still be time to sign up before January 1st, 2014, but the admission of the delay is still an embarrassing concession. The Wall Street Journal is also reporting that inside sources are still skeptical about the January 1st date. And here it is:
IR-2013-75, Sept. 16, 2013 WASHINGTON –– The Internal Revenue Service is providing tax relief to individual and business taxpayers impacted by severe storms, flooding, landslides and mudslides in Colorado. The IRS announced today that certain taxpayers in the counties of Adams, Boulder, Larimer and Weld will receive tax relief, and other locations may be added in coming days following additional damage assessments by the Federal Emergency Management Agency (FEMA). The tax relief postpones certain tax filing and payment deadlines to Dec. 2, 2013. It includes corporations and businesses that previously obtained an extension until Sept. 16, 2013, to file their 2012 returns and individuals and businesses that received a similar extension until Oct. 15. It also includes the estimated tax payment for the third quarter of 2013, which would normally be due Sept. 16. The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request this tax relief. Practitioners located in the covered disaster area who maintain records necessary to meet a filing or payment deadline for multiple taxpayers outside the disaster area may contact the IRS to identify such clients using the procedures described on the IRS website. Full details, including information on how to claim a disaster loss by amending a prior-year tax return, can be found in IRS.gov. The IRS encourages taxpayers and tax practitioners to monitor the Tax Relief in Disaster Situations in IRS.gov for updates. For Colorado, Wyoming and Nebraska taxpayers - I am pushing my contacts within the IRS to let us know as soon as there is an official pronouncement. As today is the deadline for all calendar year-end entities, I am hoping to hear soon.The US Treasury has issued proposed rules designed to ease some of the reporting burden for employers and insurance companies under Obamacare.
Though we are still evaluating the scope of the rules, Thursday's proposal would, among other things, eliminate the need for employers to determine whether particular employees are full-time where adequate coverage is offered to all "potentially full-time employees." It also would let employers report specific costs for health plans only if the cost is above a certain threshold dollar amount. More to follow. The IRS has FINALLY issued proposed regs that define the rules for the small employer health care tax credit. These rules will be of interest to you if you: 1) have 25 or fewer employees, 2) pay an average of less than $50,000 per employee per year, and 3) pay 50% or more of your employees health insurance (or are interested in doing so). If all of the above apply, you may qualify for the credit. Let us know if you need more information. |
NewsAll the news from myself, the firms and all of our team-members. Archives
March 2020
Categories
All
|