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Regulatory News

  • IRS extends "Good Faith" penalty relief and due date for furnishing 2018 forms 1095-B and 1095-C to individuals, but not for filing with the IRS

    The IRS has issued Notice 2018-94 to announce limited relief for information reporting on Forms 1094 and 1095 for the 2018 tax year. The deadline for furnishing Forms 1095-B and 1095-C to individuals is extended from January 31 to March 4, 2019. However, the notice does not extend the due date for filing Forms 1094-B and 1094-C with the IRS. The IRS will again provide penalty relief for entities that can show they have made good faith efforts at compliance. IRS Notice 2018-94: https://www.irs.g… Read More

  • IRS releases 2019 cost-of-living adjustments (COLAs) for a wide variety of tax-related limits

    IRS releases 2019 cost-of-living adjustments (COLAs) for a wide variety of tax-related limits, including limits relating to health FSAs, qualified transportation fringe benefits, qualified small employer health reimbursement arrangements (QSEHRAs), adoption assistance, DCAPs, the small business health care tax credit, the premium tax credit, and Archer MSAs IRS news release: https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2019 Lifetime Benefit Solutions, Inc. i… Read More

  • Final regulations providing religious and moral exemptions from health care reform's contraceptive coverage mandate

    The DOL, HHS, and IRS have released final regulations providing religious and moral exemptions from health care reform’s contraceptive coverage mandate. HHS fact sheet: https://www.hhs.gov/about/news/2018/11/07/fact-sheet-final-rules-on-religious-and-moral-exemptions-and-accommodation-for-coverage-of-certain-preventive-services-under-affordable-care-act.html Lifetime Benefit Solutions, Inc. is not a law firm, has not reviewed that information for legal sufficiency, and does not give legal or t… Read More

  • 2018 Form 5500 series released

    The DOL, IRS, and PBGC have released advance information copies of the 2018 Form 5500 series, including Schedules and Instructions. DOL news release, including a summary of modifications and links to the forms: https://www.dol.gov/newsroom/releases/ebsa/ebsa20181113 Lifetime Benefit Solutions, Inc. is not a law firm, has not reviewed that information for legal sufficiency, and does not give legal or tax advice. The sponsoring employer should have this information reviewed by its own legal coun… Read More

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