LISI would like to make you aware of the following recent IRS updates. Please contact your LISI Sales Representative for any questions you may have.
Employer Reporting 2016 FINAL Forms & Instructions
The IRS has released the 2016 final forms and instructions for the ACA employer reporting requirement. The final forms are almost identical to the draft forms released in August, with only minor clarifying language in the instructions. While final forms and instructions have been released for both the “B” and the “C” forms, this summary focuses primarily on the updates to the “C” forms required to be used by applicable large employers.
2017 Health FSA Limits
In Revenue Procedure 2016-55, recently released, the IRS set forth a variety of 2017 adjusted tax limits. Among other things, the notice addresses slightly increased limits for health flexible spending accounts (FSAs).