NSAC Happenings and Latest News - Page 103
More Time for Some ACA Reporting
The IRS has extended the 2017 due date for employers and coverage providers to furnish information statements to individuals – but the due date for filing with the IRS has not been extended. IRS Notice 2016-70 explained the upcoming 2017 reporting due dates: Applicable large employers, including those that are self-insured, must send Forms 1095-C to full-time employees by March 2; and must file Forms 1095-C and 1094-C ...
Read MoreEmployers: Accelerated Filing Deadlines for W-2s and 1099s in 2017
One of the provisions in the Protecting Americans From Tax Hikes Act of 2015 (PATH Act) was to accelerate the filing deadline for Form W-2 and Form 1099-MISC. The new due dates take effect for the 2016 forms, which are due in 2017. The provision is aimed at reducing refund fraud connected to the reporting of employee and non-employee compensation through information returns like the W-2 and 1099. Thieves have been attempting to ...
Read MoreJudge Blocks Obama Rule Extending Overtime Pay to 4.2 Million U.S. Workers
A federal judge blocked an Obama administration rule to extend mandatory overtime pay to more than 4 million salaried workers from taking effect, imperiling one of the outgoing president's signature achievements for boosting wages. U.S. District Judge Amos Mazzant, in Sherman, Texas, agreed with 21 states and a coalition of business groups, including the U.S. Chamber of Commerce, that the rule is unlawful and granted their motion for a ...
Read MoreIRS lowers mileage rates for 2017
The Internal Revenue Service has issued the 2017 optional standard mileage rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: • 53.5 cents per mile for business miles driven, down from 54 cents for 2016; • 17 cents per mile driven for medical or moving ...
Read MoreThe Best Kept Secrets of Fraud, Part I
Deep in the heart of a steaming jungle, a ramshackle mining town is full of dangers like mudslides, snakebites, and tropical diseases. Even getting here is an adventure that requires a small plane, a day spent navigating seething rivers, or a hair-raising 4x4 ride over ungraded roads. There are few comforts here and, apart from items in a small camp commissary, almost nothing to buy. It may seem the most unlikely place on earth to uncover an ...
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