Insights

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    2016 Tax Deadline Calendar

    March 18th, 2016

    January 4, 2016 The Intuit Electronic Filing Center begins accepting and holding (“stockpiling”) 2015 tax returns that are final and able to be e-filed. The IRS starts processing stockpiled returns on January 19 (a few are processed up to a week earlier for testing purposes). January 15, 2016 Due date for fourth installment of 2015 estimated […]

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    REMINDER: IRS Issues Deadline Extensions for ACA Information Reporting

    February 10th, 2016

    In late December 2015, in an effort to help employers meet the Affordable Care Act’s (ACA’s) information reporting requirements, the IRS extended two important deadlines. Employers now have an additional two months to provide employees Forms 1095-B (Health Coverage) and 1095-C (Employer-Provided Health Insurance Offer and Coverage). Employers have an additional three months to file the forms […]

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    Are You on the ‘PATH’ to Tax Breaks?

    January 13th, 2016

    Congress has passed the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act). The act extended numerous tax breaks and President Obama signed it into law on December 18th. The new law is more significant than some tax “extender” legislation in recent years because, in addition to extending relief, the PATH Act enhances […]

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    De Minimis Safe Harbor Capitalization Amount Increased

    December 4th, 2015

    The IRS recently released Notice 2015-82, which increases the de minimis safe harbor capitalization amount for taxpayers who do not maintain applicable financial statements (generally, audited financial statements). Previously, the minimum capitalization threshold under the final repair regulations was set at $500 (or $5,000 if the business has applicable financial statements). As a result of […]

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    ACA Information Reporting Deadlines on the Horizon

    November 12th, 2015

    In March 2014, the IRS released final regulations implementing the Affordable Care Act’s (ACA’s) information reporting provision for large employers. The new rules were optional for the 2014 calendar year but will be mandatory for 2015 for all applicable large employers (ALEs – generally those with at least 50 full-time employees or the equivalent). Smaller […]

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