The Patient Protection and Affordable Care Act (PPACA) introduced a variety of new penalties, fines, and taxes that employers are working hard to avoid paying. Two significant penalties include the excise tax, and penalties faced by applicable large employers that do not meet their employer-shared responsibility play or pay obligations. Finally, the implementation of the Cadillac tax is looming, and although the industry is awaiting further regulation and guidance, understanding the basics can help you in the future.
This webinar will explain:
The excise tax and what triggers it
Self-reporting requirements of the excise tax and what happens if you don't report
How to file IRS Form 8928
The HSA comparable contribution rules and taxes for violations
When the excise tax is not imposed
Best practices to remedy excise tax violations
The employer-shared responsibility penalties
How to calculate "A" penalties under play or pay
How to calculate "B" penalties under play or pay
When the penalties will be due
The Cadillac tax -- what we know, and what we are waiting for
Best practices as the industry awaits Cadillac tax implementation
This 90-minute basic to intermediate webinar will help you determine when a penalty is owed and how to report non-compliance.
Kathleen R. Barrow, a Shareholder in the Rapid City, South Dakota, office of Jackson Lewis P.C., has designed welfare benefit plans and executive compensation arrangements, and has counseled sponsors and administrators of these types of plans, for 15 years. She has appeared on behalf of clients before the national offices of the United States Treasury and the Department of Labor Employee Benefit Security Administration.
Ms. Barrow actively participates in national coalitions of counsel that assist employers in defending audits of welfare and pension benefit plans. She advises clients and counsel across the country with regard to defined contribution arrangements that provide post-retirement health benefits to employees.
Ms. Barrow received her law degree with honors from the University of Oklahoma College of Law in 1992, where she was a Managing Editor of the Oklahoma Law Review and a member of the Order of the Coif. She received her Masters in Business Administration degree in finance with high honors from Oklahoma City University in 2001. She is licensed to practice in Texas, Oklahoma, North Dakota, South Dakota, Nebraska, and the U.S. Tax Court.
This series is brought to you by your Partner Firm of United Benefit Advisors -- the nation's leading independent employee benefits advisory organization with more than 200 Partner offices in the United States, Canada, and the United Kingdom.
You are much more than an account or a customer at Dennis Insurance Group!
You are our client and we are your partner; it is about understanding your world, your culture and your people.90% of your assets walk out of the door every night, we can help you make sure they come back. This is reflected in our responsiveness to questions from management and employees alike, in how we thoroughly explain benefits packages, helping employees thoroughly understand their benefits, filing claims appeals and ensuring they are paid when necessary.This is also seen in our expertise on employment and tax related issues and our constant pursuit of making your life easier.
These things are made possible through our investment in our business – our investment to you – as a proud owner of United Benefit Advisors (UBA).By combining diverse talents, seasoned experience, innovative technologies and strategic partnerships, UBA firms offer employers exceptional employee benefits advisory services that are unmatched in the industry.As trusted advisors, UBA firms help their clients manage over $16 billion annually in employee benefit expenditures on behalf of 10 million members.
Through UBA, we have the technology available for all clients, large and small, to be able to streamline processes and communicate effectively with our office and your employees.Through our ownership and affiliation with UBA, we remain on the cutting-edge of trends, technology and legal issues that affect our clients.
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