President Obama signs Section 179 Section 179 has been past retroactive for 2015 with the $500,000 deduction limit (without the measure the limit was $25,000), but this time the rule has been made permanent. Congress passed the measure early last week, and it was signed into law by President Obama
What the ACA decision means to employers The U.S. Supreme Court preserved key provisions of President Obama’s Affordable Care Act (ACA), maintaining insurance subsidies despite a stiff challenge from opponents. By a 6 to 3 vote, the Court ruled that health insurance subsidies are available to all qualifying individuals buying coverage
HF&C BeneFIT Compliance Alert: Employer Reporting Requirements Beginning in early 2016, employer reporting will be required for the first time based on data from the 2015 calendar year. Depending on the size of the employer and the funding arrangement of the benefits offered, employer reporting requirements vary in regard to
House to vote on full repeal of Estate Tax for first time in a decade The House has scheduled a floor vote tomorrow, April 15, for H.R. 1105, the Death Tax Repeal Act of 2015. This will be the first time in 10 years that Congress has considered legislation to fully
Obama likely to veto rollback of NLRB union rules The House is poised to send President Barack Obama legislation rolling back a National Labor Relations Board rule intended to make it easier for workers to form unions, setting the stage for another presidential veto. “If the NLRB’s updated rules do,
The IRS has released final forms and instructions for the ACA employer reporting requirement. Applicable large employers (ALEs, generally those with 50 or more FTEs), and small employers with self-funded group health plans, are required to report certain plan information to the IRS and to provide statements to employees, beginning
2014 Deduction Limit = $500,000. This is good on new and used equipment, as well as off-the-shelf software. This limit is only good for 2014, and the equipment must be financed/purchased and put into service by the end of the day, 12/31/2014. 2014 Limit on equipment purchases = $2,000,000. This
House renews tax breaks for one year The House on Wednesday passed a one-year renewal of more than 50 tax breaks that expired at the end of 2013. Passed 378-46, the measure would extend nearly all of the tax breaks until just the end of this year, at a cost of
Peoria-based Caterpillar Inc. has hired former Transportation Secretary Ray LaHood as a consultant. The Journal Star reported that the former Illinois congressman will be the company’s representative on policy matters. LaHood Former Transportation Secretary LaHood was transportation secretary from 2009 to 2013, when he retired from the Obama administration. Since then