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The Affordable Care Act (ACA) requires employers who file 250 or more W-2s to report the cost of coverage under an employer-sponsored group health plan on an employee’s W-2.This is reported in Box 12, with Code DD. This does not mean that the coverage is taxable—the reporting is for informational purposes only and is intended …
Continue reading “Reporting Health Care Costs on Form W-2—The Devil is in the Details”
The IRS announced cost of living adjustments affecting dollar limitations for employer plans for tax year 2021. Most IRS limits impacting employer retirement plans have remained the same because the increase in the cost-of-living index did not meet the legal thresholds that trigger their adjustment. See IRS Notice 2020-79 and IRS Revenue Procedure 2020-32 for …
Continue reading “The IRS Announces Updated Limitations Related to Employer Plans for 2021”
As a result of the ongoing COVID-19 global pandemic, employees continue to work from home in record numbers, and employers continue to scramble to adjust their business operations and employee relations policies to accommodate the so-called “new normal”. Following-up on our earlier news about the US Department of Homeland Security’s (DHS) odd relaxation of certain …
This article originally appeared in HR News Magazine, November 2020 Edition. Most collectively bargained contracts define procedures for resolving disputes between an employee represented by the union and the employer. Such grievance procedures generally consist of two to four steps, with the final step being an arbitration hearing before a neutral arbitrator. The arbitrator is …