Entries by Becky Stidham

IRS Announces Employee Benefit Plan Limits for 2018

OVERVIEW Many employee benefits are subject to annual dollar limits that are periodically increased for inflation. The Internal Revenue Service (IRS) recently announced cost-of-living adjustments to the annual dollar limits for various welfare and retirement plan limits for 2018. Although some of the limits will remain the same, many of the limits will increase for […]

Section 6055 and 6056 Reporting Workbooks

The Section 6055 and Section 6056 Reporting Workbooks for 2017 reporting are now available. Employers that are required to report in 2017 must furnish statements to individuals by Jan. 31, 2018, and must file forms with the IRS by Feb. 28, 2018, or April 2, 2018, if filing electronically (since March 31, 2018 is a […]

FINAL FORMS FOR 2017 ACA REPORTING RELEASED

Click Here to Download the Full Article: Final Forms for 2017 ACA Reporting Released 10-5-17 On Sept. 28, 2017, the Internal Revenue Service (IRS) released final 2017 forms for reporting under Internal Revenue Code (Code) Sections 6055 and 6056. 2017 Forms 1094-C and 1095-C (and related instructions) are used by applicable large employers (ALEs) to […]

143 Million People Potentially Affected in Equifax Data Breach

Equifax, one of the largest credit reporting agencies in the United States, was recently the victim of a massive cyber attack—an attack that may have compromised the personal information of 143 million people. The breach itself occurred between mid-May and July 2017 when cyber criminals gained access to sensitive data by exploiting a weak point […]

Donating to Disasters and Avoiding Scams

Hurricane Harvey is the strongest storm to make landfall in the United States since Hurricane Charley in 2004. News of the damage it has caused to southeastern Texas is prompting people to help in whatever ways they can. Unfortunately, there are dishonest people who prey upon people’s good intentions, creating fake charity campaigns to exploit […]

Financial Assistance Planning

Many people struggle with financial planning. Surveys reveal that as many as two-thirds of employees admit that worrying about their personal financial situations negatively affects their health. Stepping in with financial planning assistance as a voluntary benefit for your employees can help ease their stress, contributing to higher employee morale and productivity. What Are Financial […]

IRS CONFIRMS ACA MANDATE PENALTIES STILL EFFECTIVE

OVERVIEW The Internal Revenue Service (IRS) Office of Chief Counsel has recently issued several information letters regarding the Affordable Care Act’s (ACA) individual and employer mandate penalties. These letters clarify that: Employer shared responsibility penalties continue to apply for applicable large employers (ALEs) that fail to offer acceptable health coverage to their full-time employees (and […]

Snapchat “Snap Map” Safety

What is Snap Map? Introduced in a June 2017 update, Snap Map allows users to share their exact location with friends within the Snapchat app. Snap Map gathers location data using a smartphone’s GPS sensor and displays the time of day an individual is at a specific location and his or her speed of travel. […]

Tips for Preventing or Reducing Workplace Violence

Statistics show that violence continues to be a problem in the workplace. Employers have a duty to provide a safe working environment for both their employees and their visitors and to not negligently hire or retain potentially violent employees. The following tips will help you prevent or reduce workplace violence. Hiring Process The following strategies […]